Top crypto betting strategies for 2024

David Banks
Authored by David Banks
Posted: Monday, April 15, 2024 - 22:56

The world of sports betting is a fast-moving place with lots of new developments coming into play each year. This was certainly true during the previous 12 months and seems set to continue as we move through 2024. The number of new betting systems and tipsters appearing in the sports betting market is one example of this and shows the vibrant nature of the sector.

One interesting innovation for bettors to take note of currently is crypto betting. This allows bettors to use digital coins such as Bitcoin to place wagers online. Although it may have had a relatively slow start in the industry, betting using cryptocurrencies has really taken off lately. It is expected that even more people will choose this option when deciding how to gamble on sports in the coming year.

As is the case with any other type of sports gambling, it pays to know some of the best strategies for crypto betting before jumping in. Here are a few of the most essential points to take note of:

Take your time to understand crypto sports betting

As with any betting on sports with traditional fiat currencies, you should always know what you are doing before starting to place wagers. Luckily, there is lots of reliable information on Bitcoin sportsbooks online now, which can help you get up to speed with this method of gambling.

It really is worthwhile to read up on how cryptocurrencies work, what cryptocurrency betting is, the multiple advantages it provides to bettors and the currencies which are most popular to use. This means you begin from a position of informed knowledge and are not gambling on sports using a currency you do not fully understand.

By the same token, you should also take some time in advance to understand how crypto betting sites work and which type are best to register with. Many people who use digital currency for sports betting prefer to sign up with a dedicated cryptocurrency betting platform. This is a good strategy because you can deposit coins with no fuss at these sites and also withdraw any winnings quickly.

It also goes without saying that only betting at sites which have strong online security features, offer excellent customer support, have lots of sports to check out and a range of top coins to bet with is advised. It can also be worth double checking online reviews to find the best crypto betting platforms to use.

Find the right market to dive into

As with normal online sportsbooks, crypto betting sites have lots of different markets for you to check out. This makes taking the time to find the right one for you a strategy worth following in 2024. The bonus of doing this as a bettor is that you not only get to see the full range of markets a betting site has to try out, but you can also discover new ones to add to your collection. This can be very useful if the odds on your normal market are not worth taking but you are still interested in placing a wager.

Whether it is prop bets, over/under or handicap markets, finding the right markets to consider using can provide variety to any betting session. In-play markets can also be popular with sports bettors, and this is also true at crypto betting platforms. Being active in live markets is a great way to open up specific betting systems to bettors, such as trading, and enables them to see how the action is panning out before putting their money down. This makes focusing on in-play markets a good potential strategy for bumping up your strike rate.

Research any possible bets fully

One of the most essential strategies for crypto bettors to know about in 2024 is researching any wagers fully before placing them. This will help prevent you from making random bets which have no basis in fact and stand less chance of winning. Although there are never any guarantees with sports betting, researching your wagers does tend to tip the odds in your favour.

But what sort of things should you be considering before placing any bet at a crypto-focused sportsbook? The best things to dig into include:

  • Recent form of both teams/players
  • Home and away advantage
  • Team news and injuries/suspensions
  • Head-to-head records
  • Stats around betting on specific markets, such as how many corners a certain football team has won per game on average in the current season

If you do not have the time or inclination to do this, the best thing to do is to find winning betting systems or profitable tipsters online.

Manage your bankroll properly

Although it might not sound overly exciting, managing your bankroll properly is one of the best strategies for crypto-based sports gambling. This is actually true for all forms of betting and helps you to avoid blowing out your account when a losing bet comes along. Proper bankroll management can also get crypto bettors into the habit of withdrawing profits regularly, rather than leaving them in their sportsbook account.

One of the most important aspects of this crypto betting strategy for 2024 is choosing the right stake unit. This should always be based on a small percentage of your overall bankroll, as this means a few losing wagers will not cause you any trouble. It also makes it much easier to build up your sportsbook account again after making a few wrong calls. If you had a bankroll of 1 BTC for example, then you would ideally only bet something like 0.01 BTC on each wager.

Always gamble in a responsible way

The single most important strategy for cryptocurrency-based betting is to ensure that you are gambling responsibly. This is a hot topic in the sports betting market in general right now and one that crypto sportsbooks take seriously.

For bettors themselves, it is crucial to know when to stop betting and when to take a break. This will help you to keep any losses in perspective and avoid chasing them when on a losing streak. It will also mean betting on sports with cryptocurrencies remains fun and not something that stresses you out.

This is vital for your long-term mental health as a sports gambler and something you should remember. As with traditional sportsbooks online, many crypto sites in 2024 will have responsible gambling tools to help make this simpler.   

2024 could be a big year for betting on sports with crypto

When you consider the billions in revenue that global sports betting makes each year, it is clear to see just how popular it remains. One of the main reasons for this is the constant innovation within sports gambling as an industry, which helps attract more gamblers each year.

Crypto betting looks set to be a huge deal in 2024 and gives punters another way to bet on football, cricket, rugby or F1. It is key to know what you are doing before getting involved with this method of gambling though and bet from a position of knowledge at crypto-focused sportsbooks. If you need a hand with this, our guide to the best crypto betting strategies in 2024 should prove useful.