In the new era, cryptocurrencies are bigger than ever. Whether it be for investment purposes or purely as a form of payment, people use crypto often. In parallel, the gaming industry takes everything from it can to make the experience of gamers supreme. So, no wonder that creditable sportsbooks like Joo Casino welcome cryptocurrency havers.
Sports betting is ancient. Its history started eons ago, and then multiple transformations led to what we have today. In all eras, betting was and is a very profitable business. And no matter if you are an adept bettor or a novice, the principles of crypto betting are equal for everyone. And that is how you do it.
1. Obtain a Wallet if You Have Not Done That Yet
The very first step into crypto betting is to obtain a wallet. You can either do that by installing an app on your phone or downloading one for your laptop. Be sure that you choose an optimal wallet for your financial situation. For gambling purposes, an online or a software wallet suffices.
2. Purchase Bitcoins or any Other Supported Crypto of Choice
At this point, you have not only the most significant thing in the crypto world — coins/tokens with which you will be betting but also a wallet to store them in. Now all you need to do is purchase the coins of choice. The easiest way would be to buy them from exchanges.
Remember that the value of each token decides your payback. Throwing expensive currencies as a bet seems like a mistake for a beginner. Moreover, reckless decisions are not what will bring you life-changing wins.
3. Analyze a Betting Website
Now that you have your coins, the next logical step is to find a sports betting website. Many platforms support crypto bets these days, so finding one should not be a problem. What is more, there are even websites specializing only in cryptocurrency wagering. That means, if you have Dogecoins or Ethereum, you will have zero drawbacks with betting them. Once you have found an optimal platform, checking out its reviews and official documentation is necessary. Then all you need to do is test your predictions in the actual battlefield.
4. Send Your Cryptos to the Betting Site and Place a Bet
After buying cryptocurrencies with fiat money (eg. USD), EUR BTC, send it to an address provided by the bookmaker. Make sure you do not send cryptocurrency to someone’s wallet address, for this is how deceivers “work”.
Betting with cryptos opens up a whole new world of possibilities for punters. You can use tokens on any sport, even greyhound races if you so desire. Well, your choice of sports depends on the website of your decision. Some websites specialize in particular contests, while others provide all-around betting options.
5. Withdraw Your Winnings and Enjoy Them
After your bet is lost or won (preferably won), withdraw it using an automatic withdrawal system. By the way, withdrawals with crypto are faster than with fiat cash.
Extra Tip: Never Underestimate the Significance of Independent Research
Before you start betting with cryptos, make sure to do extensive research on all the major news websites. This way, you will get a clear picture of what’s happening in the world of crypto and sports betting. Only profound knowledge of actual processes in both fields can help you predict outcomes accurately.
As a minimum, learn and check:
- The history of teams;
- Who are favorites and who are underdogs;
- Weather (it affects games more than you might imagine! For some games, you might want to bet on events that take place under a dome solely);
- What are recent or actual injuries of team members;
- Expert thoughts.
Relying on yourself solely might not be the best path to pick. Remember that researching is a complex of actions. So, be attentive to teams’ history alone, but never neglect advice. Furthermore, you can always join online communities that connect adepts of betting with beginners. Why not ask for advice from such people? That would be free yet priceless assistance.
Final Words
Crypto betting is the obvious next step in development for both crypto and sports betting industries. If you find it interesting too, now is the high time to get a hang of all the basics and start your career as a bettor.
By using cryptos, punters can feel safe regarding transferring money from one place to another, not being afraid of losing it in the middle. Apart from that, cryptocurrencies are easy to obtain, transfer and exchange. All these factors make them ideal for betting purposes.
