Cricket Point Spread Betting with Bitcoin: Crypto Bets on Cricket Match Spreads

Point spread betting is a popular form of sports wagering in cricket, especially because it helps balance the odds between unevenly matched teams. By using Bitcoin to place these bets, bettors can enjoy quick, secure, and private transactions, avoiding the hassle of traditional payment methods. This guide explains how point spread betting works in cricket, how to use Bitcoin to place these bets and the benefits of choosing cryptocurrency for your wagers.

What is Point Spread Betting in Cricket?

In cricket, point spread betting allows you to wager on how much one team will win or lose, rather than just which team will win the match. This type of betting, also known as handicap betting, is especially useful in cricket because it can make matches between teams of unequal strength more exciting for bettors. By assigning a point spread (handicap), sportsbooks aim to even the odds and make both teams appealing to bet on.

How the Point Spread Works

The Favorite: The stronger team, which is expected to win, is given a negative point spread. This means that for your bet to win, the team must win by a margin larger than the spread.

The Underdog: The weaker team is given a positive point spread, meaning they can either win outright or lose by fewer runs (or wickets) than the spread to win the bet.

Example:

If India is playing Bangladesh in a One Day International (ODI), the sportsbook sets the point spread as follows:

India -50 Runs

Bangladesh +50 Runs

A bet on India means they must win the match by more than 50 runs for your bet to win. If India wins by exactly 50 runs, the bet is a “push,” and your money will be refunded.

A bet on Bangladesh means they must either win the match outright or lose by fewer than 50 runs for the bet to win.

Point spread betting in cricket can also involve other aspects of the game, such as wickets or runs scored by individual players.

How to Place a Cricket Point Spread Bet Using Bitcoin

Betting on cricket with Bitcoin is straightforward and transactions are processed very quickly. Below is a step-by-step guide on how to place point spread bets on cricket using Bitcoin:

1. Choose a Trusted Bitcoin Sportsbook

The first step is to select a reputable sportsbook that accepts Bitcoin. Platforms like BC.GAME and many others support point spread betting on cricket matches and allow you to deposit and withdraw using Bitcoin. Be sure to choose a site with good user reviews, high security, and a wide range of betting options. Of course, you do know that you can find all of those kinds of sportsbooks right here at GOSUBETTING right? Simply click on this link.

2. Create an Account and Deposit Bitcoin

After choosing your sportsbook, create an account and deposit Bitcoin into your betting account. The sportsbook will provide a Bitcoin wallet address where you can send the funds. Bitcoin transactions are typically fast, and the funds should appear in your account within a few minutes.

3. Select a Cricket Match

Navigate to the cricket betting section of the sportsbook and look for the match you want to bet on. Each match will show the point spread for both teams. You’ll also see other betting options, such as individual player spreads and match outcomes.

4. Place Your Bet

Choose the team you want to bet on. Whether it’s the favorite (with a negative point spread) or the underdog (with a positive point spread). Enter the amount of Bitcoin you wish to wager, review your bet, and then confirm the placement.

5. Wait for the Match Outcome

Once the match is over, the sportsbook will calculate whether your bet won based on the final score. If the favorite team won by more than the spread or the underdog performed better than expected, your bet will pay out. The winnings will be automatically credited to your Bitcoin balance in the sportsbook.

6. Withdraw Your Winnings

If your bet is successful, you can either withdraw your winnings to your personal Bitcoin wallet or leave the funds in your account to place more bets. To withdraw, simply request a payout, and the sportsbook will transfer your Bitcoin to your wallet.

Benefits of Using Bitcoin for Cricket Point Spread Betting

Bitcoin offers numerous advantages over traditional payment methods when betting on cricket. Here are some key benefits of using Bitcoin for your wagers:

Fast Transactions

Bitcoin transactions are processed quickly, allowing you to deposit funds and start betting almost immediately. Withdrawals are also processed faster than traditional methods like bank transfers or credit cards, giving you quicker access to your winnings.

Lower Fees

Bank transfers and credit card transactions often come with high fees, especially for international bettors. Bitcoin’s decentralized nature avoids these high costs, providing lower transaction fees, which can make a significant difference for regular bettors.

High Security and Privacy

Bitcoin uses blockchain technology, which provides a high level of security for all transactions. Additionally, you don’t need to give out your financial details like your credit card number when depositing in Bitcoin.

Anonymity

For bettors who like to be private, Bitcoin allows for more anonymous transactions compared to traditional payment methods. Your identity is not tied to Bitcoin transactions, and you only need to share your wallet address with the sportsbook.

Global Accessibility

Bitcoin is a decentralized currency, meaning it can be used anywhere in the world. This is particularly useful for international cricket fans, as it allows them to bet on matches without worrying about exchange rates, banking restrictions, or local laws related to online gambling.

Bitcoin Bonuses

Many sportsbooks offer bonuses to users who deposit and bet with Bitcoin. These bonuses can include deposit matches, free bets, and other offers.

Main Terms Used in Point Spread Betting

Here are some common terms that you’ll come across when betting on cricket using point spreads:

Push: A push happens when the final margin of victory exactly matches the point spread. When this occurs, the sportsbook refunds your original bet.

Juice (Vig): This is the commission that sportsbooks charge for accepting bets. For point spreads, the standard juice is often -110, meaning you need to bet $110 to win $100.

Covering the Spread: A team covers the spread when they win or lose by a margin that meets the point spread’s conditions. If the favorite wins by more than the spread, they’ve “covered the spread.” If the underdog wins outright or loses by fewer than the spread, they’ve covered as well.

Managing Risk in Bitcoin Spread Betting

While betting on cricket with Bitcoin can be exciting and potentially profitable, it’s important to manage the risks, especially given Bitcoin’s price volatility. The value of your Bitcoin can fluctuate between the time you place your bet and when you withdraw your winnings. Here are two strategies to help manage this risk:

Monitor Bitcoin’s Price

Keep track of the current market price of Bitcoin. Timing your withdrawals to coincide with favorable Bitcoin prices can help you maximize your winnings.

Convert to Stablecoins

Some sportsbooks allow you to convert your Bitcoin into stablecoins like USDT, which are pegged to the value of the US dollar. This can protect your balance from Bitcoin’s volatility, ensuring your winnings retain their value.

Example: Bitcoin Point Spread Bet on a Cricket Match

Let’s say Australia is playing England in a Test match, and the sportsbook sets the point spread as follows:

Australia -20 Runs

England +20 Runs

If you place a 0.01 BTC bet on Australia, they must win by more than 20 runs for your bet to win. If Australia wins by exactly 20 runs or fewer, or if they lose the match, your bet will lose. On the other hand, if you bet on England, your bet will win if England either wins the match outright or loses by fewer than 20 runs.

Our Thoughts on Point Spread Betting on Cricket with Bitcoin

Point spread betting on cricket using Bitcoin is a fast, secure, and great way to place bets on cricket matches. With the added benefits of low transaction fees, anonymity, and the ability to bet from anywhere in the world, Bitcoin offers a modern alternative to traditional betting methods.

Whether you’re backing a favorite or supporting an underdog, understanding how point spreads work and using Bitcoin can make your betting experience both enjoyable and potentially more profitable.

Frequently Asked Questions

If you are new to point spread betting, this FAQ section will help clarify how the process works, its advantages, and what to expect when placing bets. From understanding the basics of point spreads to managing Bitcoin transactions, these frequently asked questions will guide you through everything you need to know to bet confidently and securely on cricket with Bitcoin.

• What is point spread betting in cricket? +
  Point spread betting in cricket involves wagering on the margin of victory between two teams. The sportsbook sets a “spread,” and bettors must decide whether a team will win by more (cover the spread) or lose by less than the given margin.
• How does point spread betting differ from moneyline betting in cricket? +
  In point spread betting, you’re not just betting on which team will win, but by how much. In contrast, moneyline betting only requires you to choose the outright winner without considering the margin of victory.
• How do I place a point spread bet on cricket with Bitcoin? +
  First, select a sportsbook that accepts Bitcoin. Choose a cricket match and the point spread market, then decide whether you think a team will cover the spread. Deposit Bitcoin into your account and place your bet.
• Why should I use Bitcoin for point spread betting on cricket? +
  Bitcoin offers faster transactions, lower fees, and increased privacy. This makes it a popular choice for bettors looking to avoid delays and fees associated with traditional payment methods.
• Are there any special bonuses for using Bitcoin in point spread betting? +
  Many sportsbooks offer exclusive promotions for Bitcoin users, such as deposit bonuses and free bets. Check the promotions section of your chosen platform to take advantage of these offers.
• Can I withdraw my cricket betting winnings in Bitcoin? +
  Yes, most Bitcoin-friendly sportsbooks allow you to withdraw your winnings in Bitcoin. Ensure that your wallet is set up properly to receive the funds securely.
• What happens if the final score matches the spread exactly in a cricket match? +
  If the final score lands exactly on the spread, the bet is considered a “push,” and your stake is returned. No profit is made, but you also don’t lose the money you wagered.
• Are point spreads available for all types of cricket matches? +
  Point spreads are typically available for major cricket formats, including Test matches, One Day Internationals (ODIs), and T20s. Availability may vary depending on the sportsbook and the specific match.
• How does the volatility of Bitcoin affect my betting? +
  Bitcoin’s value can fluctuate significantly, so your winnings may be worth more or less depending on the market when you withdraw. It’s important to keep track of Bitcoin’s price movements if you plan to hold your winnings in crypto.
• Is point spread betting on cricket with Bitcoin legal? +
  The legality of betting with Bitcoin depends on your jurisdiction. Many countries allow sports betting, but regulations surrounding cryptocurrency vary. Always ensure that both online betting and the use of Bitcoin are legal where you live before placing a bet.