Betting on the outright winner in football tournaments or leagues is one of the most popular markets for sports bettors, and using Bitcoin (BTC) for these bets has grown increasingly common. Betting with Bitcoin offers unique advantages such as fast transactions, increased privacy, and often lower fees, making it appealing to many bettors around the world.
What is Outright Winner Betting?
Outright winner betting in soccer involves wagering on the team you believe will win the entire tournament, rather than a specific match as you’ll find in many other types of football betting. This market is available for major competitions such as:
The FIFA World Cup
The FIFA World Cup is the most prestigious soccer tournament in the world, held every four years. It brings together the best national teams from all continents to compete for global supremacy. The tournament kicks off with a group stage, followed by knockout rounds, leading to an epic final. Winning the World Cup is the ultimate achievement for any soccer player or nation. The tournament is known for its unforgettable moments, such as Diego Maradona’s “Hand of God” goal or Zinedine Zidane’s performance in 1998. Fans worldwide eagerly anticipate this event, where countries like Brazil, Germany, and Argentina have made their mark in history.
UEFA Champions League
The UEFA Champions League is the premier club competition in European soccer, where the top teams from leagues across Europe battle it out to be crowned the best on the continent. Held annually, the tournament begins with group stages and advances through knockout rounds. Clubs like Real Madrid, Barcelona, and Bayern Munich have dominated over the years, with moments of brilliance from legends like Cristiano Ronaldo and Lionel Messi. The final is one of the most-watched sporting events globally, and winning the Champions League is a dream for any club.
European Championship (EURO)
The European Championship, commonly known as the UEFA EURO, is a national team competition held every four years, featuring the best teams from Europe. Similar to the World Cup but exclusive to Europe, this tournament sees powerhouses like France, Germany, Spain, and Italy competing for the title of European champions. The competition includes a group stage and knockout rounds, with the final being a huge event. Memorable moments, like Greece’s shocking victory in 2004, make the EURO a thrilling tournament full of drama.
Copa América
Copa América is South America’s top international soccer competition, where teams like Brazil, Argentina, Uruguay, and Colombia battle it out for regional bragging rights. It’s one of the oldest international football tournaments, dating back to 1916. The tournament is known for its passionate fans, high skill level, and fierce rivalries, particularly between Brazil and Argentina. Legendary players like Pelé, Maradona, and Lionel Messi have all left their mark on this tournament. It’s a must-watch for soccer fans, with incredible goals and dramatic matches.
Premier League, La Liga, Bundesliga, and Other Domestic Leagues
Domestic leagues are the backbone of professional soccer, with some of the most famous being the Premier League in England, La Liga in Spain, and the Bundesliga in Germany. These leagues are played throughout a season, where clubs compete for the title of national champions. The Premier League has intense competition and a massive global following, with clubs like Manchester United, Liverpool, and Chelsea being the favorites among the fans.
La Liga has seen historic rivalries, especially between Barcelona and Real Madrid in the famous “El Clásico.” The Bundesliga is celebrated for its passionate fan culture, with Bayern Munich being the dominant force.
Other domestic leagues around the world, such as Serie A in Italy or Ligue 1 in France, also feature top talent and provide a platform for clubs to qualify for international competitions like the Champions League. Each league has its own style and charm, making them a vital part of the global soccer landscape.
Since you are predicting the overall winner of a long-running competition, outright winner bets are usually placed well in advance or during the early stages of the tournament.
Why Use Bitcoin for Outright Winner Bets?
Anonymity: Bitcoin offers more privacy than traditional banking methods. Transactions don’t require personal details, which means bettors can place wagers with a degree of anonymity.
Faster Transactions: Bitcoin deposits and withdrawals are often processed much faster than bank transfers and credit card payments which allows bettors to quickly fund their accounts or cash out winnings without having to wait.
Lower Fees: Many betting platforms charge lower or even no transaction fees when using Bitcoin compared to credit cards or e-wallets. This increases the net return for bettors.
Global Access: Bitcoin is a decentralized currency, making it accessible to bettors in countries where traditional betting currencies may be restricted or where banking regulations limit gambling.
How to Place an Outright Winner Bet Using Bitcoin
Betting on sports has evolved with the rise of cryptocurrency, and Bitcoin is becoming a popular way to place bets on major tournaments. If you’re new to this, don’t worry, it’s easier than you think. Let’s walk through the process of placing an outright winner bet using Bitcoin, from choosing the right sportsbook to locking in your bet. Just follow the steps below:
1. Choose a Bitcoin Sportsbook
The first step is finding a reliable sportsbook that accepts Bitcoin. Take a look at the Bitcoin sportsbooks listed here as these sites all allow Bitcoin transactions and offer a wide range of sports betting options. Make sure they cover the tournament you’re interested in, whether it’s the FIFA World Cup, the Champions League, or any other event where outright winner bets are available.
2. Deposit Bitcoin into Your Betting Account
Once you’ve selected a sportsbook, it’s time to add Bitcoin to your account. This process involves transferring BTC from your personal Bitcoin wallet to the sportsbook’s wallet address. It’s similar to sending a regular Bitcoin transaction. Just copy the sportsbook’s wallet address, and follow the steps in your wallet to complete the transfer. Most sportsbooks will credit your account once the transaction is confirmed on the blockchain.
3. Select the Tournament and Betting Market
After funding your account, navigate to the outright betting market for the tournament you want to bet on. Outright winner bets are normally available for big tournaments like the World Cup, Champions League, or Premier League. This is where you’ll find the odds for each team to win the entire competition.
4. Place Your Bet
Once you’ve decided on a team, simply enter the amount you wish to bet in Bitcoin. The sportsbook will display the potential payout based on the odds you’re betting against. Double-check everything. Your team selection, the amount, and the odds, before confirming the bet. Once placed, your bet is locked in, and you’ll have to wait until the end of the tournament to see if your prediction wins.
Things to Consider When Betting on Outright Winners
Form and Injuries: Team form is a crucial factor in outright betting. Teams with key players in top form and minimal injuries are often favored. Injuries to star players during the tournament can drastically affect a team’s chances.
Historical Performance: Some teams have a history of performing well in certain tournaments. For example, Brazil is traditionally strong in the World Cup, while Real Madrid has a track record of success in the UEFA Champions League.
Team Depth: Tournaments can be long and demanding. Teams with a deep squad, where there are capable replacements for each position, are more likely to perform consistently throughout the competition.
Knockout Stage Considerations: In tournaments with knockout stages, the path to the final can be easier for some teams than others, depending on the draw. A strong team might have an easier route if they avoid facing other top contenders in the early rounds.
Value of Odds: Since outright winner markets are set long in advance, the odds can fluctuate depending on team performance, player transfers, and other factors. Often, bettors place their bets early to lock in high-value odds, especially if they believe the odds will shorten as the tournament progresses.
Timing of Outright Bets
Timing is key in outright winner betting. Odds tend to be higher before the tournament starts, but betting at this stage is riskier as it’s harder to predict how teams will perform. As the tournament progresses and weaker teams are eliminated, the odds for the favorites will shorten. Bettors need to weigh the risk of betting early against the potential for better payouts.
Cash Out Options
Some Bitcoin sportsbooks offer a cash-out feature, allowing bettors to settle their bet early for a guaranteed payout. For example, if the team you backed to win is performing well but you’re not confident they’ll go all the way, you can cash out and take a portion of your potential winnings before the final result is decided.
Example of an Outright Winner Bet Using Bitcoin
Let’s say you want to bet 0.05 BTC on Manchester City to win the UEFA Champions League. The odds for Manchester City to win the tournament are 5.0 (decimal odds). This means if Manchester City wins the tournament, your payout will be:
Winnings: 0.05 BTC x 5.0 = 0.25 BTC
Net Profit: 0.25 BTC – 0.05 BTC = 0.20 BTC profit
If Manchester City does not win, you will lose the 0.05 BTC you placed as your wager.
Advantages of Early Bets with Bitcoin
When placing outright bets, especially using Bitcoin, there are both advantages and disadvantages to consider. Here’s a look at a few things to look out for:
Higher Odds
One of the main advantages of placing an outright bet before a tournament begins is that you often get access to higher odds. Before the action starts, sportsbooks might not have all the information on teams’ form, injuries, or other factors, so the odds are often more favorable. If you’re confident in your prediction, this can mean bigger profits if your team wins. For example, betting on a team to win the World Cup months before the event starts could result in a much larger payout compared to betting later, when odds are adjusted based on performance and popular opinion.
Hedging Options
As the tournament progresses, you have the opportunity to hedge your bets, which is essentially a way to manage risk. If your original team is still in the competition but their path to victory is looking uncertain, you can place smaller bets on other teams to either guarantee some level of profit or minimize potential losses.
This strategy allows you to adjust your position based on how the tournament unfolds. For instance, if you bet on Team A to win the Champions League but as they advance, another team starts looking stronger, you could place a smaller bet on Team B to balance your chances.
Disadvantages of Outright Bitcoin Bets
Volatility of Bitcoin
One of the unique challenges of betting with Bitcoin is the volatility of the currency itself. Bitcoin’s value can change drastically in a short amount of time. Which means that even if you win a bet, the real-world value of your winnings could be much different from when you placed the bet.
For example, if Bitcoin drops in value during the tournament, your winnings might not be worth as much in dollars or euros by the time you withdraw. On the flip side, if Bitcoin’s value increases, you could end up with even more money than expected.
Long Wait Time for Payout
Outright bets require patience. Unlike placing a bet on a single game, where you know the outcome in 90 minutes, outright bets can take weeks or even months to settle. Especially in long-running tournaments like the World Cup or the UEFA Champions League. You’ll need to be prepared for the wait and understand that your funds are tied up until the tournament finishes. If you prefer quick results and immediate payouts, outright betting may not be the best option.
Risk of Early Elimination
When betting on a team to win an entire tournament, especially early on, you face the risk that your chosen team might get knocked out before the later stages. For example, a top team could have an off day and be eliminated in the group stages. Leaving your outright bet worthless. This makes outright betting a high-risk, high-reward gamble. If you’re willing to take that risk, the potential payouts can be substantial. But there’s always the chance that an unexpected elimination could ruin your bet early on.
Our Thoughts on Betting on Football Outright Winner with Bitcoin
Betting with Bitcoin as the outright winner in football tournaments is an exciting and potentially rewarding strategy. However, it requires careful consideration of team form, odds value, and tournament dynamics. With the right approach, outright winner betting can offer the opportunity for significant returns.
Frequently Asked Questions
From understanding how outright betting works, to exploring the benefits of using Bitcoin, and learning about key strategies for making informed predictions, we’ve got you covered. Let’s take a look at some common questions about Betting on Football Outright winner with Bitcoin
-
What is outright winner betting in football?
-
How does betting with Bitcoin work for outright winner markets?
-
Why should I use Bitcoin for outright winner bets?
-
Are there risks when betting with Bitcoin on outright winners?
-
How do I choose the best football tournament for outright winner betting?
-
Can I cash out my Bitcoin outright bet early?
-
When is the best time to place an outright winner bet?
-
How do I deposit Bitcoin on a sportsbook for outright betting?
-
Can I bet on multiple teams in the same tournament?
-
What are the fees for betting with Bitcoin?