Introduction
Crypto betting sites keep attracting new players with bonuses and odds they offer. How to deal with them and understand what value they represent?
Information relating to bonuses and odds is essential for both experienced users, who have already chosen or are considering favorite sites, and newcomers. Often first-time bettors, who are looking for a new crypto betting platform, focus on the number of free bets and other bonuses and base their betting choice on such criteria. There are even players called hunters for bonuses and promo codes. Reliable betting sites provide a list of all kinds of valuable current bonuses and even rare promocodes for odds. To understand why such a promocode can be helpful, let’s learn first what odds are and what types they come in.
Odds reflect the most probable outcome of a sporting event. The majority of online betting sites allow you to pick the type of odds that you wish to use. If the chances of a certain game outcome are high, the odds will be lower. You’ll bet more but win less money. Vice versa, if the prediction of the outcome is poorly probable, the odds will be higher. You can bet less to gain more.
Types of Odds You May Find on Crypto Betting Sites
The system works pretty simply: higher odds mean a lower chance of winning but greater payout, and lower odds mean an increased chance of winning with a lower payout. The odds difference at various bookmakers may turn out to be a money-making experience for skilled bettors
• Decimal or European odds are the trendiest odds format, especially in Europe. Profit is easy to calculate. The bet is multiplied by the odds. In other words, if you bet 50 mBTC at odds of 1.50, the benefit you get will be 75 mBTC.
• In Fractional odds also known as British odds, the first number shows what the potential profit will be concerning the bet amount. When you see a 6/2 odds ratio, it means that for every 2 mBTC you get 6 mBTC of payout.
• Moneyline odds, also called American odds, are used mainly in the U.S. and Canada. Positive figures display the number of potential winnings. If you have a +120 odds, your profit value will be 120 mBTC for every 100 mBTC. But in case it is -120, you need to bet 120 mBTC to get 100 mBTC.
Also read: Coins, Bitcoins, and Slot Machines
Most Common Types of Bonuses
Cryptocurrencies are the number one option for sports betting lately. Bookmakers benefit from this because cryptocurrency is less expensive to process compared to fiat currencies. Bitcoin is heading the list of popular cryptocurrencies, followed byEthereum, Litecoin, and Bitcoin Cash. Betting platforms motivate to deposit specifically in cryptocurrency with bonuses.
• Event Promo Bonus is all about some specific game. Interest in betting sites increases during significant sporting events. And platforms encourage attention to major tournaments and games by providing bonuses for betting on a particular event. Their list is regularly updated on the sites depending on what events are currently occurring or are coming up soon.
• Welcome Bonus is a one-time bonus that is offered by almost all crypto betting sites. Some sites provide a free bet for registration, special odds, or a first deposit bonus. But the point is that it is always given to a new player once only. Be aware, usually welcome bonuses have an expiration date.
• Deposit Bonus can be received by players as a bonus for a new deposit, thus it often comes with a welcome package. Sometimes they can be also offered on the first, second, or more deposits made on a new account. Usually, it is allowed to activate only one bonus at a time. The size of this bonus can be up to 200%. This is a very valuable bonus, especially on crypto betting sites. In numbers, it means that you will get 20 mBTC as bonus funds by depositing 10 mBTC.
• Free bets are often offered as a part of deposit bonus packages. But they can also be available through special promotions. Make sure to learn more about the wagering rules. Sometimes a free bet is only available after making a bet or a deposit. Or the odds on the selected event for the free bet must be at least 1.5.
• Reload bonuses also usually come as a promo for a free play. You can receive it after your first deposit is done, the bonus is used, or the account is zeroed. Some platforms offer them seasonally in connection with important events. The percentage boost can range from 20% to 50%.
• Referral bonus brings a new player to the site. And cryptocurrency players, in particular, are valued, so for a recommendation to a friend the bookmaker can provide a generous bonus in the form of a no deposit bonus or a free bet.
Bottom Line
It is the bonus offer that distinguishes online betting from local bookmakers. The most important thing about bonuses is knowing how to use them. That’s why it is strongly recommended that you look at the conditions section on the crypto betting site. And follow sporting events calendar, every day you can get a chance to bet at favorable odds, especially if you have got a promo code.