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Can You Make Money with Bitcoin Betting?

August 8th, 2022 by The Nerd Comments

Professional bitcoin betting is becoming more popular with the convergence of online gambling and the proliferation of cryptocurrency as a form of payment. Sports betting worldwide is on the rise and as a result so is the idea of betting with your cryptocurrency through sites like on sporting events.

While bitcoin betting can lead to spectacular profits, it can just as easily lead to stunning losses if not undertaken with extreme caution. Complications can occur because gambling is considered a form of entertainment, not a profession, and losses can be shrugged off for “entertainment value” instead of a “business loss.”

This article will focus on bitcoin betting as a money-making venture, not just an expensive hobby.

Choose Games with Better Odds

As with all casinos, cryptocurrency casinos have a built-in edge that’s guaranteed to earn the house a profit over the long term. Consequently, the longer you play, the greater the chance you’ll eventually lose money.

However, there are ways to improve your odds of winning, at least in the short term, and if you’re smart enough to quit while you’re ahead, you can walk away a winner with a pocket full of cash.

One way to win at bitcoin betting is only to play games that give you the best chance to win. For example, stick to blackjack, roulette, craps, poker, and penny slots. You have a statistically better chance to win playing these games over the short term than most of the other games the casino offers.

Develop a Strategy

Creating a winning betting strategy is highly subjective but equally crucial. Find a systematic way of playing that includes winning more than you lose, and you can come out ahead. Use Surebets and Value Bets to improve your odds.

Surebets are low percentage winners that are 100% safe, meaning you won’t’ win much on each bet, but you’ll almost always win.

Value bets are bets that weigh opportunity and risk with odds leaning in your favor to achieve long-term successful bitcoin betting.

Master NTF Betting

The newest market for bitcoin betting is Non-Fungible Tokens (NTF). You can buy an NTF with multiple cryptocurrencies, but Ethereum seems to be a popular one. Players bet on digital assets like collectibles, weapons, and cosmetic skins. You can also bet against other players or the dealer and win tokens or prizes.

The newness of NTF betting with crypto makes it a dangerous game to play. Make sure you thoroughly understand the rules before investing your currency.

Play the Volatility Game

Many investors play bitcoin as an asset class itself, buying and selling tokens like stocks and bonds. It’s possible to profit that way, but where’s the fun in that?

Gamblers use bitcoin to stake their games, then stockpile their winnings until the price of cryptocurrency spikes before cashing in, thereby improving their overall Return On Investment (ROI).

Another trick is to time your withdrawals of fee-free digital coins during a runup in bitcoin prices further improve your ROI.

Be Safe

The first step in profitable bitcoin betting is finding a safe crypto casino that accepts bitcoin as a payment method. Always research every site you’re considering for play by reading reviews of players already using the site and check the better business bureau (if on-sore) for complaints.

Also, make sure you understand all the site rules before transferring any funds. There’s nothing worse than believing you know how to play the game only to discover some obscure rule that separates you from your winnings.

Bitcoin betting can be fun, exciting, and rewarding, but it can also be frustrating, stressful, and dangerous. Always take the usual precautions when engaging in any online financial transaction. And above all, always gamble responsibly and get professional help if you ever need it.

The Nerd is the one who lurks in the shadows of the FTN HQ, writing mysterious articles and sponsored posts. No one has ever seen him and most are happy at that... but some of us are still curious