Point Spread Betting With Crypto: Placing Bets On Point Spreads Using Bitcoin & Alternative Cryptocurrencies

This is a guide written by our GOSUBETTING team of experts to help you understand point spread betting. If you’re new to crypto betting, you’ve probably heard of point spread bets but might not know exactly what they are or how they work. Don’t worry, we have your back. This guide will explain point spread betting so that you can get to know exactly how it works before placing any bets. It makes no difference whether you are betting with cryptocurrencies like Bitcoin or traditional currencies like FIAT, the rules don’t change.

What is a Point Spread?

A point spread, also known as “betting the spread” or “handicap betting,” is a type of sports bet where a team must either win by a certain number of points or not lose by more than a certain number of points. This betting method is popular in major professional team sports, like the NFL and NBA, but is also used in other sports.

In a moneyline bet, you just pick which team will win. Each game has a favourite (the team expected to win) and an underdog (the team expected to lose), with odds showing their chances. While you can win more money by betting on an underdog, we all know that favourites usually win more often than the underdog, which can make games less exciting. Point spread betting balances this out by focusing on the margin of the win rather than who actually won the game.

For example, if you bet on the underdog to cover the spread, you win the bet if the underdog keeps the game close or wins outright. Although it might seem a bit confusing initially, point spread betting is quite simple and easy to understand once you get the hang of it.

Why Is Point Spread Betting So Popular?

Point spread betting has become very popular in football and basketball for several reasons. In many games, there’s often a clear favourite and an underdog, making moneyline bets less appealing because the odds are usually one-sided and not very profitable. However, spread betting makes the game more exciting by adding another layer of complexity.

Instead of betting on which team will win, you’re betting on the margin of points between the teams. This creates more opportunities for bettors and makes watching the game more engaging. Even if one team takes an early lead, point spread bettors are still on the edge of their seats, wondering if the underdog can close the gap. This type of betting allows players to use their knowledge of the sport to predict how teams will perform and what the outcome will be.

Pros and Cons of Point Spread Betting

Pros

Balanced Odds: The point spread levels the playing field in uneven matchups, providing more balanced odds and better value. This makes betting on a favourite more appealing by adjusting the odds.

Spreading the Risk: Even if your team doesn’t win, they can still cover the spread, offering an extra layer of security for your bet. 

Strategic Opportunities: By analysing trends and patterns in teams’ performances against the spread, you can improve your winning chances. Also, by studying the teams and players will help too.

Cons

More Difficult Betting: Betting against the spread is harder because you need to consider not just which team might win, but also how they will perform relative to the point spread. This means you need to do your homework quite thoroughly.

Higher Risk of Error: While spread betting can reduce some risks, there is a higher chance of error. Even if you pick a strong team, they need to win by a specific number of points for your bet to pay off.

Vulnerability to Line Changes: The point spread can change all the time, especially if there are lots of people betting on the game. This means the spread might change before you place your bet which will affect the value of your bet.

Can Point Spread Lines Move?

Yes, point spread lines can change, just like other types of sports betting odds. As the game approaches, various factors can affect the point spread. Such as a star player getting injured, changes in the starting lineup, or even a coaching change. These factors can shift the odds and the spread, so it’s important to check the latest odds before placing your bet.

Best Sports for Point Spread Betting

Point spread betting is one of the most popular types of bets. Unlike traditional bets that focus on which team will win, point spread betting involves predicting whether a team will beat the spread. Making games more competitive and exciting for bettors. Here’s a look at some of the sports where point spread betting is common.

Football

Football spread betting gives you the chance to place crypto bets on many different aspects of the game. You can place bets on various things, like the total number of goals, shirt numbers, types of bookings, corners, off-sides, and even who will score and when. You can bet as little or as much as you want, and you can bet as often as you like. There are plenty of options available, so you can choose the ones that interest you the most.

Basketball

Point spread betting is also common in Basketball, where the fast-paced, high-scoring nature of basketball leads to constantly changing odds. Because the skill levels of teams can vary widely, it’s not unusual to see point spreads of more than 20 points in college basketball games.

Cricket

In cricket point spread betting, you have many options to choose from. You can bet on things like the number of wickets taken or the total runs scored. There are plenty of different markets to explore, so you can pick the ones that interest you the most.

Horse Racing 

Horse racing betting adds excitement by letting you bet on a variety of race aspects. Instead of just picking the race winner, you can place bets on things like how far the winning horse will finish ahead of others, the starting prices of horses, and how well the jockey performs. This gives you many different ways to bet on each race.

Tennis

When it comes to placing crypto point spread bets on Tennis, instead of betting on how many games a player will win or lose, you bet on how many sets they will win or lose. This applies the spread to the sets in a match. You can also use cryptocurrency to place your bets, making transactions faster and more secure.

Rugby

In rugby, you can place point spread bets with crypto on a variety of things, like who will score tries, the total number of points, or how well a team will perform.

Frequently Asked Questions

Below we have written some of the frequently asked questions that GOSUBETTING visitors have asked us about Point Spread betting with Crypto.

• What is point spread betting? +
  Point spread betting is a type of wager where you bet on the margin of victory in a game, rather than just picking a winner. For example, if a team is favored by 7.5 points, they must win by 8 or more points for your bet to win.
• Can I use cryptocurrency to place point spread bets? +
  Yes, many online sportsbooks accept cryptocurrencies like Bitcoin, Ethereum, and others for placing point spread bets. It’s a fast and secure way to deposit and withdraw funds.
• Is betting with cryptocurrency safe? +
  Betting with cryptocurrency is generally safe, especially if you use reputable sportsbooks. Crypto transactions are secure, and using crypto can provide more privacy than traditional payment methods.
• What are the advantages of using crypto for point spread betting? +
  The advantages include faster transactions, lower fees, increased privacy, and often better bonuses offered by sportsbooks for using crypto.
• How do I deposit cryptocurrency to bet on point spreads? +
  To deposit cryptocurrency, you need to have a crypto wallet. Once you have that, you can transfer funds from your wallet to the sportsbook by following their deposit instructions.
• Can I withdraw my winnings in cryptocurrency? +
  Yes, most sportsbooks that accept crypto deposits also allow you to withdraw your winnings in cryptocurrency. The process is usually quick, with funds appearing in your wallet within minutes to hours.
• Are there any fees for betting with cryptocurrency? +
  Fees for using cryptocurrency are typically lower than traditional banking methods. However, you might encounter small network fees for transactions, depending on the crypto you’re using.
• Can I convert my crypto winnings back to cash? +
  Yes, after withdrawing your winnings in cryptocurrency, you can convert them back to cash through a crypto exchange. From there, you can transfer the cash to your bank account.
• Do sportsbooks offer bonuses for crypto point spread bets? +
  Many sportsbooks offer special bonuses and promotions for using cryptocurrency, such as deposit bonuses, cashback, or free bets, making it an attractive option for bettors.
• Are the odds different when betting with crypto? +
  No, the odds for point spread betting remain the same regardless of whether you’re using cryptocurrency or traditional currency. The only difference is in the payment method you choose.