Bitcoin casinos are growing in popularity, just as surely as the cryptocurrency itself is gaining global attention. Praised by users as a secure and efficient way to transact online, betting Bitcoin is an easy way to keep your bets private and access your money quickly.
Spread betting is a specific type of wager that you can place on sporting events. To cover the spread, you make bets about a wide range of different activities and outcomes. By focusing not just on who wins, you give yourself a chance at a better payout, while also making it slightly more difficult to come out ahead.
What exactly is spread betting, and why do some people think Bitcoin is the best way to do it?
What Is Spread Betting?
Spread betting is a broad term. It refers to situations where the outcome of your wager needs to be a bit more precise than simply saying “This or that.” To successfully make a spread bet, you usually need to identify not only what team or player will come out ahead in an event, but also by how much.
In some ways, a spread bet reduces your odds of winning. You can’t just say “I think the Chiefs will win the Super Bowl.”
You have to say “The Chiefs will win the Super Bowl by seven.”
On the other hand, spread betting favors gamblers who are willing to put their nose to the grindstone a bit. Study the stats. Understand the teams. Get nitty gritty precise regarding what they think will happen.
Why Do People Enjoy Spread Betting?
Why make a wager harder than it needs to be? Spread betting is popular not just as a way of increasing payouts but also because it motivates viewers to engage on a deeper level with the sports they love.
If sporting events are your hobby, you may take genuine pleasure in sitting down for an afternoon of reviewing stats and forming your own conclusions. Sports bettors often enjoy studying the odds to spot low-hanging fruit.
Maybe the Golden State Warriors are having a better year than the Lakers overall, but how have these teams fared against one another in specific matchups? What did the starting lineups look like in these matchups? What about shooting percentages?
To make an informed bet when covering the spread, you need to get really precise in your understanding of the game. This need for precision can make the overall experience more enjoyable for someone who truly cares about the sport.
All of this is to say that spread betting can be both more complicated and more enjoyable than traditional sport betting scenarios. But why stir the pot even further by introducing cryptocurrency?
How Bitcoin Fits In
Bitcoin is popular as an anonymous and convenient form of virtual currency. Traditional banks are notorious in the world of online gambling. In the very best case scenario, a typical bank will take time to deposit cash into your favorite casino app. They’ll take even more time to withdraw your winnings and put them back in your account.
That friction can result in frustrating delays. Imagine having a Friday evening to yourself. You’ve poured a glass of wine. Maybe you fired up Netflix for a show you know and love. You log on to your favorite casino app only to find that your bank has frozen your deposit. No sports betting or roulette for you.
Cryptocurrencies don’t micromanage your financial decisions. If you have the money, you can use it the way you want without fearing unnecessary oversite or scrutiny. At an online crypto casino transactions happen in seconds rather than days.
Bitcoin Is Also Anonymous
Did you know that gambling can impact your credit score? No, most financial institutions will not scrape through each transaction, weighing their merits. They will develop conclusions based on your behaviors.
Unfortunately, many activities associated with online gambling don’t come up well on a credit report. Increased credit utilization. Amplified transactions/deposits/withdrawals.
Behaviors you almost can’t help but display when gaming through traditional payment methods. Crypto takes these factors out of the equation.
It also keeps your activities away from prying eyes. Maybe you don’t want your partner reviewing each casino transaction on your bank statement. Maybe you simply don’t feel confident in the security features that traditional banks implement.
Bitcoin is blockchain-backed and completely anonymous. Your transactions are secure and viewable only by you.
You don’t need to understand how cryptocurrencies work to use them for online purchases. Is Bitcoin confusing? Of course. So is traditional banking.
Naturally, if you are going to use Bitcoin for spread betting, you should do your research. Stay within your comfort zone. Most people will enjoy the obvious benefits. Frictionless transactions using a currency designed to keep their privacy private.
