There is no question that cryptocurrency is one of the biggest stories in sports in the last year. From the incredible rise in value of bitcoin and other digital currencies, to the massive amount of money which has been poured into the development of specialised prediction tools for cryptocurrency trading; betting on crypto has become a popular pastime.
Now that the craze for digital currency has worn off, people are wondering how to go about placing bets on real-world sporting events. Fortunately, we were able to talk to Jimmy Mizen, CEO of sports betting website, Perfect Sport, about how to place winning bets on sporting events and which cryptocurrencies to use for it.
When Is The Best Time To Place A Bet On A Sporting Event?
You may be wondering when is the best time to place a bet on a sporting event? After all, the odds may not be in your favour, especially if you are going against the public’s perception of the favourite. Truth to be said, the best time to place a bet on a sporting event is generally either before the season starts or during the season, as soon as the schedule is released. This way, you will be sure of getting your money back if the favourite loses and you have a good chance of making profit if the underdog wins.
This is called laying a drey, which means you are placing a bet on the runner up. It is generally accepted that the best time to place a bet on a horse race is between 4 and 6 weeks prior to the event. For other sports, such as tennis, you may want to get in early to secure one of the best seats in the place. When speaking with Jimmy, he advised us to try and get in early for our football matches, as tickets tend to sell out fast. This way, you will be able to secure your spot in the stadium and watch the game without having to worry about finding a babysitter in case your child gets tired of the day’s activities and wants to come back home early.
Which Cryptocurrencies Should I Use For My Betting?
This is a common question among those who have either just discovered, or are simply looking to get their feet wet in the world of cryptocurrency. Choosing which cryptocurrencies to use for your betting depends on your personal preferences. For example, is security your primary concern, or do you want to go for a brand that is still fairly unknown?
The former is perhaps safer, particularly if you plan on placing larger sums of money on the bet. As the latter becomes more widely adopted by the general public, the odds of losing your money become greater. In many cases, the difference in security between various cryptocurrencies is something that can be determined by looking at the web sites which accept the specific digital currency. For example, using Bitcoin rather than Ether for a bet would ensure that your money is preserved more securely than it would if you were to use Ether.
How Do I Place A Bet On A Sporting Event?
Making a bet in cryptocurrency is incredibly easy. All you need is a web browser, a microphone, and you are good to go. You will then be asked to verify your identity via a webcam so that the website knows it is indeed you making the bet. From there, all you have to do is decide how much you want to wager on each event.
When placing a bet through an online betting site, you will generally be given the option of selecting the match you want to bet on from a drop down selection. Alternatively, you can click on a map to find the location of the event and place your bet that way. Make sure you check the rules and regulations of the betting site you are using before getting started, as each one is different. For example, some websites allow you to place bets on events which take place outside of your home country, but you may have to pay extra fees for doing so.
Can I Place A Bet On A Sporting Event Using Only My Mobile Phone?
In 2021, most online betting websites will allow you to place bets on events using only your mobile phone. This is certainly the case with Perfect Sport. To do so, download the Perfect Sport app and log in with your credentials. From there, you can easily place a bet from your phone. In some cases, you may have to register for an account with the app before making a bet. However, this is generally just a formality and not something which will prevent you from placing a bet.
What Are We Betting On?
In line with the last two questions, this one is perhaps easier to answer. Looking at the above figures, it is pretty clear that both the US and Canadian sports fans were not interested in equestrian sports in the slightest. In fact, the only ones who went against the grain were Argentinian and Bolivian fans, who had an interest in the rare Breeders’ Cup event, which features horses from those countries.
This was certainly a trend that stood out and it begs the question, what are we betting on?
When it comes to the above graphs, the most obvious answer is blockchain technology. In many cases, we were able to determine which team will probably win a specific match or event by looking at the odds which are available on the web sites which accept that particular cryptocurrency. In all cases, the public ledger of transactions which is maintained by the blockchain is something which is certain to affect how we bet as it gives us complete transparency into the finances of the organisations which operate in the space.
As for what we are betting on, given the above, it is pretty clear that this is going to be a world of sports surrounded by smart contracts and cryptocurrency. In many cases, the future of sports betting seems incredibly promising, particularly when you consider how much interest there is in this space already. Whether you are looking to go for a quick pick or want to make a sophisticated move, getting in on the ground floor with the right credentials is certainly worth it in the long run. Of course, this is all dependent on whether or not you believe in cryptocurrency and the associated technologies which surround it.