Point Spread Betting on Football with Bitcoin: Crypto Bets on Soccer Match Spreads

Point spread betting is a popular type of sports betting, especially in football, because it makes the game more exciting by evening out the odds between two teams. Using Bitcoin for these bets adds benefits like fast, secure, and private transactions.

What is Point Spread Betting?

Point spread betting is meant to make the game more fair when one team is stronger or more likely to win than the other. In football, sportsbooks create a point spread, which is like a handicap that gives the weaker team a head start in points.

This way, betting on soccer becomes more balanced because you’re not just betting on which team wins, but also on whether a team can win by a certain number of points (or avoid losing by too much).

Here’s how it works:

The favorite team is expected to win and is given a negative point spread (e.g., -7), meaning they must win by more than that margin for a bet on them to succeed.

The underdog team is given a positive point spread (e.g., +7), meaning they can either win outright or lose by less than that margin for the bet to pay out.

Example:

If Team A is favored by -7 over Team B:

A bet on Team A requires them to win by more than 7 points for the bet to win.

A bet on Team B can win if they either win the game outright or lose by fewer than 7 points.

How to Place a Point Spread Bet Using Bitcoin

In this section, we’ll walk you through the process step-by-step, from choosing the right Bitcoin sportsbook to placing your bet on the favorite or underdog, and finally, cashing in your winnings after the game.

Pick a Bitcoin Sportsbook

First, choose a trusted sportsbook like BC.GAME that accepts Bitcoin for betting. There are also many other reputable sportsbooks listed here at GOSUBETTING, that let you place point spread bets on football using Bitcoin.

Deposit Bitcoin into Your Account

After choosing your sportsbook, you’ll need to deposit some Bitcoin into your betting account. The sportsbook will give you a Bitcoin wallet address to send the funds. Bitcoin transactions are usually fast, so your money should appear in your account within minutes.

 Find a Football Game to Bet On

 Go to the football betting section of the sportsbook and look for the game you want to bet on. Each game will show the point spread, so you can see how much the favorite team needs to win by or how much of a head start the underdog has.

Place Your Bet

Decide if you want to bet on the favorite (with a negative point spread) or the underdog (with a positive point spread). Enter how much Bitcoin you want to bet, confirm your selection and your bet will be placed.

Wait for the Game Results

After the game, the sportsbook will check the final score and see if your bet won. If it did, your winnings will be added to your Bitcoin balance in the sportsbook, and you can request a withdrawal or use it to place more bets.

Benefits of Using Bitcoin for Point Spread Betting

• Fast Transactions: Bitcoin transactions happen much faster than traditional methods like credit cards or bank transfers. This means you can deposit your Bitcoin and start betting almost right away, without long wait times.
• Low Fees: Using credit cards or bank transfers for betting often comes with high fees, especially for international transactions. Bitcoin’s system avoids these high costs, offering much lower fees, which makes it a cheaper option for bettors.
• High Security and Privacy: Bitcoin is very secure because of its special technology called blockchain. Each transaction is encrypted, and you don’t need to share personal details like bank or credit card info. This extra layer of privacy is great for people who want to keep their betting activities anonymous.
• Anonymity: With Bitcoin, you can place bets without revealing any personal or financial information, unlike traditional payment methods. If you’re worried about privacy, Bitcoin betting gives you the chance to stay anonymous.
• Accessible Worldwide: Bitcoin isn’t controlled by any one country, so it works everywhere. This means anyone, no matter where they are, can bet on football games without dealing with currency conversions or local restrictions.
• Exclusive Promotions and Bonuses: Many sportsbooks offer special deals just for Bitcoin users. These can include bonuses for deposits, risk-free bets, or even bigger payouts. It’s an added perk for bettors who choose to use Bitcoin.

Main Terms Used in Point Spread Betting

Push: A “push” occurs when the game ends with a margin of victory that exactly matches the point spread. In this case, the sportsbook typically refunds the bet.

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

Covering the Spread: This refers to the outcome when a team wins or loses by a margin that covers the point spread. If a favorite wins by more than the spread, they’ve “covered the spread.” Similarly, an underdog “covers” by either winning outright or losing by fewer than the spread.

Example: Bitcoin Point Spread Bet on an NFL Game

Let’s say the Dallas Cowboys are playing the Philadelphia Eagles, and the sportsbook sets the point spread as follows:

Dallas Cowboys -5.5

Philadelphia Eagles +5.5

If you bet 0.01 BTC on the Cowboys, they must win by at least 6 points for your bet to win. However, if they win by only 5 or fewer points, or if they lose the game, your bet loses.

If you bet on the Eagles with a +5.5 spread, your bet will win if the Eagles either win the game outright or lose by fewer than 6 points.

Managing Risk in Bitcoin Spread Betting

While point spread betting can be profitable, it’s important to be aware of the risks. Especialy because Bitcoin’s price can change a lot. The value of your Bitcoin bet might go up or down between the time you place your bet and when you cash out. This is especially important for bettors who want to keep their winnings in Bitcoin. Instead of converting them to regular money (fiat currency).

Below are 2 ways to manage that risk:

Watch Bitcoin’s Price: Keep track of Bitcoin’s market price so you don’t withdraw your winnings when the value is lower. Timing your withdrawal can help protect your earnings.

Use Stablecoins: Some sportsbooks let you convert your Bitcoin into stablecoins like USDT. Stablecoins hold a steady value, so converting your winnings can prevent your balance from losing value due to Bitcoin’s price changes.

Our Thoughts on Point Spread Betting on Football with Bitcoin

Point spread betting on football with Bitcoin is a quick, secure, and private way to place bets on teams. With Bitcoin, you also get extra perks like low fees and the ability to bet from anywhere in the world. Whether you’re betting on the stronger team (the favorite) or the weaker one (the underdog), knowing how point spread betting works can make the experience more fun and possibly help you win more.

Frequently Asked Questions

If you’re new to point spread betting with Bitcoin or just looking for more information, this FAQ section will help answer common questions. Namely, about how it works, the benefits of using Bitcoin, and what to expect when placing bets. From understanding point spreads to managing risk with cryptocurrency, we’ve got you covered with simple and clear answers.

• What is point spread betting in football? +
  Point spread betting involves wagering on a football team with an assigned handicap (point spread). The favorite must win by more than the spread, while the underdog must win outright or lose by less than the spread for your bet to win.
• How do I place a point spread bet using Bitcoin? +
  First, choose a Bitcoin sportsbook, deposit Bitcoin into your account, select the football game, choose the point spread, and place your bet. If your bet wins, your earnings will be credited to your sportsbook account in Bitcoin.
• Why should I use Bitcoin for sports betting? +
  Bitcoin offers fast transactions, lower fees, greater privacy, and global accessibility compared to traditional payment methods. It also enables anonymity, making it a popular choice for online betting.
• What happens if the game’s final score equals the point spread? +
  If the final score results in a tie with the point spread, the bet is considered a “push,” and your original wager is refunded by the sportsbook.
• How does Bitcoin volatility affect my bets? +
  Bitcoin’s price can fluctuate between the time you place your bet and when you withdraw your winnings. It’s essential to monitor Bitcoin’s market price or consider converting winnings to stablecoins to mitigate the impact of price volatility.
• Is there a minimum amount of Bitcoin I need to place a bet? +
  Most sportsbooks have a minimum bet requirement, which varies. The amount is typically small, but it’s best to check the sportsbook’s terms for specific limits when betting with Bitcoin.
• Can I withdraw my winnings in Bitcoin? +
  Yes, you can withdraw your winnings in Bitcoin. Simply request a withdrawal from the sportsbook, and they will send the amount to your Bitcoin wallet, often with low transaction fees.
• Do I pay taxes on Bitcoin betting winnings? +
  Tax regulations vary by country. Some jurisdictions require you to report and pay taxes on Bitcoin betting winnings. It’s important to consult with a tax advisor to understand the laws in your region.
• What is the “juice” or “vig” in point spread betting? +
  The “juice” or “vig” is the commission that sportsbooks charge for accepting bets. For point spreads, this is usually set at -110, meaning you need to bet $110 to win $100.
• Can I receive bonuses for betting with Bitcoin? +
  Yes, many sportsbooks offer exclusive bonuses for Bitcoin users, including deposit bonuses, free bets, and promotions specific to Bitcoin transactions. Always check the sportsbook’s promotions page for the latest offers.