NBA Betting With Bitcoin
Whether you’re a seasoned basketball veteran or have little interest in the sport, chances are you’ve already heard of some of the biggest names in the game. In 1996, six-time NBA champion Michael Jordan starred in the film Space Jam. It grossed around $250 million in box offices worldwide and helped put Michael Jordan, and basketball as a whole, on the map. Throughout the nineties, kids could be seen sporting Chicago Bulls – Jordan’s team – apparel as a fashion statement.
In recent years, American football and baseball have witnessed slight declines in their popularity. Basketball, on the other hand, is on the up and has increased in popularity by 3% – and this in spite of scandals in recent years that threatened to rock the entire future of the sport.
So what is it about basketball that continues to capture the imagination of fans all over the globe? Perhaps it’s stars like LeBron James and Stephen Curry, watched courtside by fellow A-listers from music and film. Perhaps it’s the incredible athleticism on show. Or maybe it’s the electric pace of the end-to-end game. Whatever it is, people love basketball. And they also love betting on it.
With basketball seeing an uptick in recent years, it’s no surprise that sportsbooks are taking notice. This is why it is now possible to place a bet on basketball using Bitcoin (BTC) at a wide variety of online bookies. So let’s take a look at where you can do that, go through how best to formulate a betting strategy, and cover a few other things about the beloved sport of basketball.
But if you can’t wait for that, you can skip a few steps and check out our pick of sportsbooks where to place a BTC basketball bet right now.
How to Bet on NBA With Bitcoin
As basketball continues to enjoy increased popularity, cryptocurrencies such as Bitcoin (BTC) have also made their way into the mainstream – particularly in 2017. With more and more sportsbooks beginning to accept BTC as a form of payment, the timing couldn’t have been better for fans of basketball who want to place a bet using crypto.
Before you sign up to any sportsbooks, you first need to acquire some Bitcoin. This can’t usually be done through the sportsbook directly. Instead, you need to sign up to a crypto exchange such as coinfloor.co.uk. This may seem daunting at first, but it all becomes straightforward after a bit of practice. Once you’ve uploaded GBP, USD, EUR or any other type of traditional fiat currency, you need to exchange them for a cryptocurrency such as BTC, Ether (ETC), Litecoin (LTC) or Bitcoin Cash (BCH). If all of that sounds complicated, you might find our guide to buying Bitcoin helpful.
Once you’ve sorted out your crypto cash, you’ll need to find a sportsbook which accepts Bitcoin bets. There are lots of them around, and indeed some sportsbooks accept Bitcoin exclusively for all of their deposits and withdrawals. If recent trends continue, this is something we’ll see more and more of in the future.
Just because a sportsbook accepts Bitcoin, it doesn’t mean you should jump at the chance to invest. Shop around and make sure the sportsbook you choose will offer maximum value on your bets. If you mostly bet on basketball, look for the site with the best odds on basketball. If security is a factor – and when dealing with Bitcoin, it certainly should be – only go to sportsbooks that have been heavily reviewed and are safe.
If you like big juicy bonuses, look for one that has a generous BTC bonus. Sometimes, a sportsbook creates a Bitcoin welcome bonus which is intended to be quite a sensible amount of money, but the rapid inflation of BTC’s price can skew this in the bettor’s favour. It is not uncommon to find sportsbooks with welcome offers that would equate to five-figure sums in regular fiat cash.
There are a lot of aspects to consider when choosing the right sportsbook, from basketball odds to how readily they accept BTC. To cut out the hard work, just take a look at some of our favourite crypto sportsbooks with great basketball odds below:
Top 5 Bitcoin Sportsbooks for NBA Betting
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Biggest Events in NBA
The biggest event in the NBA is definitely the playoffs. Much like the NFL’s journey to the Super Bowl, the route to the NBA playoffs involves teams being split into two sections: the Eastern and Western Conferences. Teams are seeded based on their win-loss records, and this establishes who will play who in the playoffs. The playoffs utilise a knockout format until only one team is left, which is declared the conference winner. Once both conference winners have been decided, they meet in the final.
Since its inception in 1946, the NBA playoffs format has undergone a number of facelifts, most recently for the 2016 NBA playoffs. In all that time, only five teams who were seeded in the bottom – or eighth – position have managed to beat the top seed. The longest winning streak belongs to the Golden State Warriors, who managed an astonishing 15 wins in a row in the 2017 playoffs. And elsewhere, the only team to remain undefeated in the finals is the Chicago Bulls.
Following the playoffs, the next largest event in the NBA is the All-Star Game, which is held in February. Like a lot of major US sporting events, it takes place on a Sunday, although pretty much the entire weekend becomes a festival of celebration. Much like the Super Bowl, the event is packed full of performances and exhibitions, kicking off with an NBA All-Star Celebrity Game. Kevin Hart has four Most Valuable Player awards to his name, while other high-profile winners include Justin Bieber and Brian McKnight. Throughout the weekend, there are many other games showcasing up-and-comers and more.
But the main event is what really impresses. Fans, players and the media vote on who makes the lineup, backed by a say from the head coaches of the time. The vote leaders are named captains and they pick their squads from a selection of top players. The idea behind the game is not dissimilar to the Major League Baseball’s All-Star Game.
Most Popular Bets on NBA
There are plenty of points scored in any given basketball game. That means plenty of ways to bet, and several chances to win. Let’s run through some of the more popular NBA bets you’re likely to come across.
- Point spreads – This is pretty similar to a straight win bet, but with a few differences. Teams are usually fixed in at -110, which means a bet of £110 would return £210 including your stake. But of course, the odds of both teams having an equal chance of winning is slim. Instead, teams are attributed a handicap that adjusts the likelihood of them winning. For instance, Team A may receive a -7.5 handicap while Team B may receive a +7.5 handicap. You will need to factor in this handicap when assessing the game’s final score.
- Over/under – If you’re less concerned with who wins the match, but are pretty sure it will be either high- or low-scoring, you can make an under or over bet. The sportsbook will create a number, and fans will bet on whether the total score of both teams combined will be above or below that figure. So, let’s say the total is set at 185 and the game ends 98-83. The total of both teams’ scores combined amounts to 181, which is 4 points under 185. In such a case, an under bet wins whereas an overbet loses.
- Parlay – Much like an accumulator in soccer, a parlay is a bet where the bettor has to choose multiple teams to win in a single bet. The difference between this and simply betting on a team to win is that every prediction in your parlay must be correct in order for you to claim any winnings. The advantage, of course, is that the odds are drastically increased when placing a parlay bet.
Did You Know?
Muggsy Bogues was the shortest player ever to play in the NB. He was just 5’3”.
Legend of the game Shaquille O’Neal is also a rapper. His hits include “(I Know I Got) Skillz”, “What’s Up Doc? (Can We Rock?)” and “Strait Playin'”.
In 1994, Michael Jordan enjoyed a short stint in professional baseball. He played for the Chicago White Sox and achieved a batting average of .252 in the Arizona Fall League.
NBA Betting Strategy
The great thing about betting on a sport which is as popular as basketball is the coverage. There are endless articles about teams and players which can give you valuable insight into upcoming matches. But as well as that, the sheer number of games that its popularity demands can impact the games themselves.
One way to demonstrate this is to watch out for a team’s recent schedule. There are times when a popular team will be made to play three games in four days, or even four games in five days. Look out for the final game of these series, where the team can become fatigued – especially if the game takes place later in the evening. Always consider the time and any hectic team schedules when placing a basketball bet.
It’s always good practice to stay up to date with the latest injury news, especially if the injured player has a key role in the team. Interestingly, however, this can sometimes have a short-lived galvanising effect on the team. There are plenty of examples where a basketball team played on the court without their star player, only to bounce back in spectacular style with a couple of victories. This could be likened to the “new manager bounce” phenomenon observed in soccer, where a team that has been assigned a new manager often reaps successful results in their first few games. When a key player is injured, consider stepping away from the first match and seeing how the team performs before lumping in any hard-earned BTC.
Geography plays an important role in basketball bets. First off, we have the classic home advantage. Look out for teams that never seem to lose at home. Similarly, take note of the teams who seem to perform well away from home. Also take into consideration how far the players have had to travel in their recent games. Driving or flying up and down the coast will definitely take its toll on an athlete’s performance.
Verdict
Basketball is growing in popularity, and this is a trend which looks set to continue in the immediate future. There is no shortage of fanfare, TV coverage or interest in the game, and this has been bolstered with the emerging number of Bitcoin sportsbooks offering basketball wagers online.
Still not sure whether you want to make a basketball bet using BTC? Consider these factors:
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