As crypto betting becomes more and more popular, professional and casual sports bettors must rise with the tide. Doing so means we must tweak how we implement both our casino gaming and sports betting strategies.
In this blog, we cover what we must do to transition from traditional fiat currency sports betting to crypto betting. Check out the four things that will help you create a crypto betting strategy and lead to profit.
How to Develop a Winning Crypto Betting Strategy
Understand Crypto Betting Basics
This is an absolute must. If we decide we’re going to start betting on NASCAR or PGA golf, the first thing we do is study NASCAR and the PGA. The same applies to crypto betting.
Get to know how blockchain’s work, why cryptocurrencies are here to stay, and how you can employ cryptos in your sports betting and/or casino gaming. The key is to learn crypto basics. For example, although Bitcoin and Ethereum remain the two most popular and highest market cap cryptocurrencies, other cryptos, like Litecoin, bitcoin cash, and ripple (XRP), have become ultra popular.
Know the cryptocurrencies you can use to fund your sports betting accounts. Also, get to know Ethereum, Bitcoin, etc. so that you can make rationale decisions. Maybe, as an example, you want to keep your bitcoin, which means you should purchase Litecoin, or some other crypto, and fund your betting account with LTC. Don’t forget that for most cryptos there is a utilization and investment aspect.
Develop a Strategic Betting Approach
As with all betting, you must develop a specific strategy. Remember that even if you fund your betting account with LTC, XRP, BTC, or ETH, each bet you make will be in mBTC, which is 1/100th of a Bitcoin.
Make sure to have your conversion site ready. You will want to convert the amount of money you wish to bet on each game from U.S. dollars to mBTC. This allows you to never bet too much, or too little, on each play.
Effective Bankroll Management is Key
When it comes to crypto, because we’re betting in mBTC, it’s important to know how much we’re betting. Creating a unit size is more difficult because we must convert our dollars to mBTC before making a bet.
However, the difficulty of doing this balances out because mBTC, and all cryptos, also serve an investment purpose, meaning we not only manage our bankroll to profit from our sports betting, but, when we get good at it, we can manage our crypto betting bankrolls to increase by just remaining as crypto.
The investment and utilization aspects of cryptocurrencies allows us to increase our bankrolls by simply keeping our money in cryptos and not dollars.
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