NFL Bitcoin Betting Guide
Betting on the NFL is quite easy. But new players might feel intimidated by the idea. As part of Nitrogen Sports Blog’s goal to help neophyte bettors on how to bet on sports, we have crafted an NFL betting guide detailing all you need to know about the best sports in the world: football.
NFL betting guide: Why bet on NFL with Bitcoin?
Bitcoin offers versatility that conventional currency lacks. When players exchange fiat currency for bitcoin, you are given a level of anonymity for any future transactions. Thanks to the amount of security it offers, Bitcoin is the most viable option when it comes to online betting and online casinos, keeping vital information secured at all times.
It’s easy to convert Bitcoin back to fiat currency if needed, especially in Nitrogen Sports, which doesn’t include any type of identity verification to collect your earnings. The only requirement to make a withdrawal is to have your 2FA (two-factor authentication) active in your account, which is great since it adds another layer of security for your Nitrogen ID.
NFL betting strategies
If you want to be serious in building your Bitcoin bankroll via betting on football, then you need to read up — a lot. You can count on luck to win you a wager, but the most successful sports bettors rely on more than just good karma to work its magic.
They are on a constant search for new strategies and have a solid knowledge of the basic concepts of betting. This NFL betting guide is a nice place to start learning how to bet on the greatest league in North American pro sports.
Look out for injury reports and line movements
These items are crucial. Football is fun to watch, but it’s a punishing sport that always leaves key players injured. A player’s availability usually factors into how oddsmakers set the lines.
That’s why it’s important to be updated on the latest injury reports of teams involved in games you are looking to bet on. Injuries are not the only reasons why lines move. A lot of times, too much action on one side forces sportsbooks to shift the lines towards a middle ground where they expect to get a much more equal action.
Mind the stats
Numbers and sports are as inseparable as Joe Montana and his Super Bowl rings. Statistics are dependable assets in helping us tell what a future performance of a team or a player would be like. Every bit of information could give you the edge you need to earn big.
Soak up all the stats to get a better understanding of each team’s strengths and weaknesses. Read up offseason and weekly reports and how the team is going during training camps. The amount of information you have will determine your level of confidence in your future bets. Never commit to anything when you are in the dark.
Know your bankroll limit
Set your bankroll and find a strategy that suits your preference. Managing a bankroll is very important. You can’t just decide how much you are going to bet on a whim. It has to follow a plan.
One of the most popular approaches in managing a bankroll is the flat-betting strategy, which suggests that every bet should be of the same amount regardless of how much you trust the bet you are planning to make.
Type of betting odds
This is the simplest type of bet out there. When betting moneyline, all the bettor does is select the team or side he thinks will win. A win by the selected team or side means that the bettor will be paid by the bitcoin sportsbook. One drawback for a moneyline bet is that it doesn’t maximize the potential of a bet on a favorite.
But on the other hand, a moneyline bet on the underdog pays way better, albeit with a higher chance of losing than a point spread bet, which we’re going to discuss next.
Sports betting would never blossom to the insanely lucrative industry that it is today without the invention of the point spread. It’s the most popular type of bet in the NFL. The point spread’s huge impact on the betting culture dwarfs the simplicity of the concept behind it.
It balances the action between two teams with a perceived difference in strengths by letting oddsmakers to set a point spread, which levels both sides’ chances of winning a game, at least on paper. To make things on this NFL betting strategy clearer, allow us to provide an example.
Back in 2017, the Cleveland Browns were set to open the season against the Pittsburgh Steelers at home. The Browns were coming off an embarrassing 0-16 season, while the Steelers were expected to be one of the legitimate Super Bowl contenders.
Almost all signs pointed to a Steelers win. Betting on the Steelers to win the game straight up was a no-brainer. The Browns, however, were given a +11.5 point spread, which meant two things:
- They were the underdogs.
- An extra 11.5 points were going to be added to Cleveland’s final score.
The game ended with the Steelers, as expected, scoring a win to the tune of a 21-18 score. In other words, the Browns had successfully covered the point spread, as adding 11.5 points to their final score resulted in a greater point output than Pittsburgh’s.
Conversely, those who bet on the Steelers point spread of -11.5 all lost since Pittsburgh didn’t win by at least 12 points, thus failing to cover its own spread as the favorite.
It will take time to get one familiarized with the point spread, but there aren’t a lot of options out there that gives the same thrill that it offers to bettors.
Totals (Over / Under)
A totals bet in football is a wager that is not tied on which team will end up winning a game. Rather, it’s the combined points of the two teams in a game that determines whether a bet is won or not.
A bettor simply picks over or under in a totals bet. An over pick means that a bettor will win his bet if the combined score is greater than the totals line. An under pick wins if the combined score goes below the totals line.
If the line offered by a sportsbook is 50.5 points for the game between the Houston Texans and the New England Patriots, and a bettor has picked over for that contest, he’ll get a payout if the final score reads 27-23, as the combined score is only equal to 50 — just half a point short of the totals line.
Parlays are highly recommended once you’re comfortable with basic betting line types like a moneyline.
Think of parlays as a lottery ticket where you can determine the amount of risk included in exchange for a bigger payout. Parlays are a combination of different wagers in a single betslip.
You can go as low as two bets in your parlay, making it a 2-leg parlay and go as high as even eight bets in one parlay, making it an 8-leg. In order to win your parlay, you need to win all betting lines in your parlay. A single loss is all that’s needed to lose the bet.
You can mix it up as much as you want. Many have created parlays from different sports and with different betting lines. But stick with a smaller parlay first before stacking up multiple wagers for the big payout.
Now that you’ve read Nitrogen Sports Blog’s NFL betting guide, why not check out our other NFL articles for the latest football content.