Why you need a crypto betting strategy
A strategy refers to some kind of plan of action that is used to achieve a long-term aim. While anyone can get lucky with a single bet, the use of betting strategies can help players achieve some remarkable results over the long-term. With the arrival of crypto gambling, a strategy will be needed more than ever to help you understand this new and complex kind of betting.
A good betting strategy will always help you think more critically about how you gamble. Rather than merely backing your favourite team or blindly playing your favourite game, you’ll be thinking more carefully about what it is that you are actually betting on.
The aim of this is that you are taking control of your bets and not merely leaving yourself at the mercy of the laws of probability. Obviously, there’s nothing wrong with just betting for the fun of it, but a strategy can prove invaluable in getting more success over the long-term.
Do betting strategies actually work?
Of course, if these strategies worked, then surely anyone who used them would be very rich. The sad truth is that there is no strategy that is going to help you win 100% of your bets. If there was, it wouldn’t really be considered to be betting and it would quickly be outlawed in the gambling world.
We have found that the best strategies for betting work in a variety of different ways. First of all, they will stop you making those rookie mistakes like chasing after your losses and betting emotionally. Secondly, they will help you understand how probability works so that you can truly understand what bet size you should be putting down and whether you should be chasing after those higher odds. Finally, a good strategy can be great fun as it gives you a good way to battle with the crypto betting site that you’re playing at.
So in answer to the big question, yes, betting strategies work some of the time. But you should always be cautious about placing too much faith in any betting system.
Popular gambling strategies
There have been a handful of strategies that sports bettors and casino gamers have used over the years that have gained a fair amount of traction. Here’s a quick overview of some of the more popular strategies that you could use for your bets.
Martingale strategy for crypto gambling
Talk to any seasoned bettor long enough and they’ll mention this strategy. This is one of the more popular betting systems that sees you doubling your stakes after a losing bet and halving your stakes on the bets that you win. It’s a strategy that aims to manage your bankroll by giving you a much better chance of breaking even, although it can lead to some heavy losses if things go awry.
Fibonacci strategy for betting with cryptos
Want to get more mathematical with your crypto bets? Then you may want to try the Fibonacci strategy. This is a strategy that sees you increasing the size of your betting stake with each loss you make. The amount that you increase your stake by is based on the Fibonacci sequence which is a naturally occurring sequence of numbers that can be seen in anything from the flowering of plants to the regeneration of cells in our bodies.
The theory is that by doing this, you will eventually cover the losses you’ve endured. It’s a strategy that is entirely dependent on the belief that a win will come sooner or later. The obvious disadvantage is that this could end up wiping out all of your money with lots of losing bets before you’d managed to get that big win.
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Strategies for wagering with cryptocurrencies
Cryptocurrencies have only been with us for a relatively short amount of time and they present a unique challenge when it comes to gambling. While the likes of Bitcoin and Ethereum can be seen as a standard form of currency like the US dollar or the British pound, they can operate in very different ways. So let’s have a closer look at how you can aim to get a little more success when you wager with cryptos.
Crypto value fluctuation
Everyone knows that cryptocurrencies are hugely volatile. This means that the value of these digital assets can rise and fall by huge amounts over a short time period. If you hold a lot of Bitcoin in your crypto wallet, it might be worth double or half the amount in just a couple of months. This volatility can mean that building up a long-term plan for how much you want to make with crypto gambling can be difficult.
As such, it might be smart to diversify the digital assets you have in your crypto wallet to include a variety of cryptocurrencies like Bitcoin, Ethereum, DogeCoin, LiteCoin and so on. This means that the value of one crypto could take a tumble and it wouldn’t necessarily wipe out your entire bankroll.
Understanding the value of NFTs
NFTs have become a massive hit in recent years and they have made a big splash on the crypto gambling realm. These are non-fungible tokens that represent ownership of a digital asset. We’ve seen NFTs for many gaming assets in the past few years become hugely valuable; however, it’s important to note that the value of these NFTs is entirely demand-based. So while an NFT earned by playing a popular game like Axie Infinity might be worth a lot in other people’s eyes, NFTs earned from less popular games might have very little value.
This means that you should carefully consider which play-to-earn games you play. Obviously no one knows which NFTs are going to be most valuable over a period of time, but a little research on an NFT marketplace can go a long way.
Factor in the fees
Chances are that that you’ll have to pay some kind of fee or ‘gas’ when executing a trade with a cryptocurrency. These fees can vary considerably but they can all have a big impact on what kind of profit you make. If you want to avoid paying a lot of fees, then you should try and move your digital assets around as little as possible. Here you could even benefit from ‘crypto staking’.
By making fewer deposits, trades and withdrawals, you’ll find that you’re spending less of your money on these fees. It can take a fair amount of planning in making these larger crypto deposits and withdrawals, but it can pay off over the long-term.
Avoiding crypto scams
Sadly, the success of cryptocurrencies has meant that they have drawn the attention of various individuals who try and dupe those getting into crypto gambling for the first time. This is why you should always be on your guard for the handful of crypto gambling sites who are merely there to try and rip you off.
Our advice is to only play at those operators featured on our site. We carefully review each and every legit betting site in the world that accepts crypto payments so that you can find a safe place to play. Just remember that if anything about a crypto betting site looks too good to be true, it probably is.
Strategies for crypto sports betting
There has been a massive rise in the number of sports betting sites that accept cryptos in recent years. This means that you’ll need to raise your game to think a little more critically about how to beat these sportsbooks. Here are some simple ideas that you can use the next time that you’re using cryptos to bet on your favourite sport.
Understanding how odds work – Try handicap betting strategies
When you bet on sports, you’ll be betting on odds. These represent the chances of something happening in a sporting event. It could be a certain team to win an NBA basketball game or a certain player to score a goal in a Premier League soccer match. If you bet on short odds, you’ll get a better chance of winning, but your returns won’t be so good. If you bet on long odds, you’ll have less chance of winning, but you could make some spectacular returns if you win your bet.
This shows how sports betting is all about balancing risk and reward. A good betting strategy will often take to handicap betting as this offers you a way of levelling out the playing field. This makes it harder for the favourite to win, but you get better returns if they do. Conversely, it makes it easier for the underdog to win, but your returns won’t be quite so good.
Anticipating those losses
Even the best sports teams lose every now and then. This is why it’s a good idea to always be careful about betting on a so-called ‘sure thing’. We’d recommend that you only wager with money that you don’t mind losing so that you can suffer that occasional loss without it wiping out your entire bankroll. Plus don’t underestimate the power of ‘cashing out’ your bets early so as to retain some of your stake before that loss becomes too devastating.
Spotting the value bets
Value bets simply refer to when a sportsbook has got its odds slightly wrong. It’s based on a theory of something called ‘expected value’ which has a fair amount of complex mathematics behind it. But for now, it’s enough for you to know that all you need to do here is to try and spot when a betting site has got odds that don’t really represent what’s most likely to happen. So a good value betting strategy is where you aren’t necessarily betting on who is is going to win, but you are trying to maximise on the difference between the bookmaker’s odds and your own predictions. It’s a strategy that only really pays off over the long-term, and you’ll have the greatest success of spotting the value bets if you get in early before the bookmaker has had chance to adjust the odds to the market.
The 1.01 betting strategy
Like live betting? Then you’ll love the 1.01 betting strategy. This is where you are betting on extremely short odds that have barely any chance of losing. You’ll tend to find these bets in the dying moments of a sporting encounter when one team has built up a big advantage. Again, it’s a strategy that works best over the long-term. This is because the odds are so short that any returns you get will be negligible. But it can be an effective strategy if carried out over the course of a sporting season. Just remember that there is always the chance of a last minute upset!
Strategies to use at a crypto casino
Casino gaming is great fun, but it’s not so enjoyable when you lose all the time. While you might think that playing casino games is all about chance, there are a few things that you can do to tilt things in your favour. Take a look at these tips below and figure out how to implement them into your crypto casino strategy:
Knowing which crypto casino game to play
Go to any crypto casino and you’ll probably see hundreds, if not thousands, games to play. Don’t be tempted to play a certain slot game just because it’s based on your favourite TV show. Instead, do some research into each game so that you can understand the mechanics of how it works.
After all, each casino game will have its own return-to-player percentage that tells you how much that game pays out on average. Plus you should research to see how volatile each casino game is as this tells you how often it pays out and how big the wins are.
While there are plenty of exciting new crypto casino games that can be based on something as traditional as roulette or even a rocket ship exploding in the sky, they are all based on probability and the results will be determined by a random number generator. So once you figure out how the gaming software works, you’ll be much better informed to know whether you should play that game or not.
Understanding house edge
Crypto casinos stay in business because they use house edge to their advantage. This means that if you play a certain game over a period of time, the probability is that the casino would win more often than you would.
As a result, it’s a good idea to figure out which games give you a better chance of winning. You’ll commonly see that lots of experienced players like baccarat and blackjack as these card games give them a statistically more likely chance of winning compared to slot games.
Using a bonus with your crypto betting strategy
There are lots of bonuses out there and these can be a great way to take your wagering to the next level. While you’ll be unlikely to base your whole strategy on the best casino bonuses, there is no doubt that some of the below promotions have helped many crypto gamblers take their bets to the next level. Just remember to read through the small print of these deals so that you don’t get caught out by any sneaky wagering conditions!
- Matched deposit bonuses: It’s pretty easy to find a good matched deposit bonus. This is an online betting bonus that will give you wagering credit depending on how much you initially deposit at a crypto betting site. So if your strategy required you to have a larger bankroll for a certain sporting event, you could sign up to a new betting site, get a matched deposit bonus and have plenty more to play with.
- Matched bet offers: These are just like the above deals, but they give you credit depending on how much you originally bet. Again, these promos can be useful for any strategy that requires you to play with extra funds. Just be careful of those matched bet offers that demand that you put down your qualifying odds on some unreasonably long odds.
- Losing bet refunds: These promos offer you a certain amount of insurance for you bets. They can be great for anyone who is new to crypto gambling as they effectively give you a second chance to try your luck again. Just remember that any refund you get will usually come in the form of promo credit rather than withdrawable cash.
- Enhanced odds and boosted profits: We love these deals as they simply enhance the odds for a sports betting event or boost the profit you make on any kind of crypto gambling. As long as you aren’t being pushed too far out of your comfort zone, these deals can turn a good strategy into a spectacular one.
- Reward programs: These are great promotions that reward customers for playing at an individual crypto gambling site for a certain amount of time. These can form an important part of a betting strategy as you’ll get to earn site credit for each real money bet that you put down.
Managing your bankroll
We can’t overemphasise how important it is to carefully manage the crypto assets that you are playing with. After all, you are going to hit a loss sooner or later, and your bankroll should factor for this.
It can be a good idea to plan your wagering over a certain period of time. Many players have found success in setting aside only a small percentage of their bankroll for each bet they put down. This helps them last for the duration rather than blowing their money on just a handful of bets.
Above all, it’s essential to set yourself a sensible budget and stick to it. This will stop you falling into the fatal trap of chasing after your losses. As long as you only play with money that you don’t mind losing, you should be able to enjoy the best in crypto gambling.
Responsible crypto gambling
Perhaps the most important crypto gambling strategy is the most boring one. This is that responsible gambling is always the best way to go. Here you’ll be betting with modest stakes, knowing when to call it quits and only ever seeing gambling as a form of entertainment rather than being a way of making money.
The good news is that the best crypto gambling sites will always present their customers with a variety of player protection tools. These can do simple things like help you set limits on how much you deposit, wager or even lose. Plus there might even be more severe options like taking a time out or even completely excluding yourself from that crypto gambling site. All of which should help you stay safe and not let your gambling get out of control.
Conclusion – Follow these strategies and enjoy the end result!
By now you’ll see that there is nothing like a good strategy for helping you play much more effectively. It doesn’t matter whether you’re laying down cash or cryptos, as you’ll always need to follow the fundamentals of gambling. This means understanding how probability works, managing your bankroll effectively and knowing how to take advantage of all that a good crypto gambling site has to offer.
Of course, we should always be cautious about placing too much faith in any strategy for crypto betting. After all, vulnerable people will need to be careful about wagering more than they can afford and you should always stay crime free when you decide which crypto betting sites you play at.
But we think that with a good strategy, a handy bonus and a little bit of luck, you should be able to enjoy the crypto gambling revolution. So pick one of our featured sites and see where your crypto bets take you!
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Gambling strategy FAQ
🤔 Which are the best slots for crypto gambling?
Make sure that you read our guide to see which slot games offer you the best chance of getting something back when you wager with cryptocurrencies. After all, the gambling world has lots of different slot games out there, and some of them offer you a better chance to eventually win than others.
🥇 How do I get good long term results with crypto betting?
Check out our guide that covers the full range of betting systems that could work wonders with cryptocurrencies over the long term. While we can’t guarantee long term profits, we can help you avoid making rookie mistakes and this should be enough to keep you in the game.
🏦 How do I know if I have a large enough bankroll for my strategy?
Be sure to read our guide to see what kind of bankroll you need to have to successful time when betting on sport. After all, if you are the kind of person who puts down larger bets, you may need to reevaluate your bankroll compared to someone who keeps their bets more modest.
💰What kind of long term profits can I expect to make?
Read our guide to see what kinds of profits you can make over the long run if you decide to try online gambling with cryptocurrencies. Our guide will help you understand how much you should expect to make while understanding that things like house advantage and probability may end up working against you.
❓What sort of handicapping skills will I need in a good betting system?
Check out our guide to see whether a good working knowledge of handicapping can help you develop a good system for betting with cryptos. You’ll learn what a handicap bet means and then see how it can apply to anything from sports betting to enjoying online casino games. All you need to get more from your crypto gambling!