How to Bet on Virtual Sports with Crypto
Cryptocurrencies like Bitcoin have become well-known across the world in recent years. In this article, we’re going to take a closer look at virtual sports crypto betting for you. You’ll find out how virtual sports work and then some more about cryptocurrencies and how they work. We’ll tell you about the types of bet you can place on virtual sports and give you a few tips for success too. Read on to find out more!
- 1 How to Bet on Virtual Sports with Crypto
- 1.1 What are virtual sports?
- 1.2 What is betting with cryptocurrency?
- 1.3 How to bet in virtual sports with crypto
- 1.4 Type of virtual sports betting using crypto
- 1.5 Conclusion
- 1.6 Virtual Sports Crypto Betting FAQs
What are virtual sports?
Readers of this article will probably already know something about conventional sports betting. Virtual sports betting is very similar to conventional sports betting but with one major difference. Rather than betting on real-life sports events, in virtual sports you are betting on contests and events that are entirely computer-generated. The results are determined using a Random Number Generator (RNG) in combination with carefully programmed statistics and attributes that allow for realistic outcomes. You can usually watch the game or race on which you are betting take place.
The range of virtual sports on which you can bet is growing all the time. While virtual soccer is massively popular, many fans of virtual sports crypto betting also like to wager on virtual horse or greyhound racing, as well as basketball, cycling, motorsport and martial arts sports. Next, we’ll discuss how you can use cryptocurrency to bet on virtual sports.
What is betting with cryptocurrency?
Before we go any further, it is worthwhile to pause and just define what we mean by betting using cryptocurrency. Some readers might well still be wondering just what a cryptocurrency is, so we’ll define that before we go any further.
A cryptocurrency is a digital or virtual currency that is secured using cryptography. This makes it a very secure way of paying for things on the internet. Cryptocurrencies are decentralised networks based on blockchain technology. They are not issued by central authorities such as governments, which makes them very hard to manipulate.
They are becoming increasingly popular with online gamblers for a number of reasons. The main one of these is security, but they also offer anonymity to users. Transactions at gambling websites that are made with cryptocurrency can sometimes be much faster too.
How to bet in virtual sports with crypto
If you’re looking to do some virtual sports crypto betting then the process is the same as betting on conventional sports. Find the market on which you want to bet and click on it. Then decide on the type of bet you want to place and select your stake. Once you have done this, the bet should appear on your slip in the usual way and you can click Confirm or its equivalent to place it.
Virtual sports betting versus esports betting
At this point, it is worth us noting that virtual sports is not the same as esports. Esports betting is where you bet on the outcome of video game contests between teams of real players. You are effectively betting on the relative skills of the human players rather than on computer-generated outcomes.
Virtual sports are entirely computer-generated. There is no human input into the result beyond the initial programming of the teams and leagues. This makes betting on virtual sports a very different experience to betting on esports.
Type of virtual sports betting using crypto
When you’re doing some virtual sports crypto betting you will notice that many of the bet types are very similar or the same as those that you will encounter when wagering on normal sports. You can place outright bets on the overall winner of leagues. This can be a good type of bet as whole seasons of virtual sports like football can be played in a matter of hours.
You can also place a full range of conventional bets like match-winner for basketball or football matches, or race winner in horse racing or greyhound racing. Each way bets are possible and you can also place live, in-play bets on many virtual sports events.
These similarities mean that you also have to adopt similar principles when it comes to shaping a betting strategy that can bring you success. Always follow the form of the teams or horses, and make intelligent bets based on previous results. You should always stay calm and manage your bankroll carefully too!
As you can see, crypto virtual sports betting is pretty similar to conventional sports betting. You just have to remember that the leagues and teams are not real! Many of the same principles of conventional sports betting hold true in virtual sports betting too. You still need to study the form of teams or horses, and you need to take into account the relative abilities and skills of each team or horse on which you bet. Virtual sports betting with cryptocurrency is a great way to add more depth to your betting experiences.
Virtual Sports Crypto Betting FAQs
The results of virtual sports contests are not fixed. They are determined by a Random Number Generator. This works in tandem with the statistics and attributes of each virtual player or team to create realistic results with the outcome in doubt all the way until the final whistle or the finish line.
It is possible to use Bitcoin for virtual sports crypto betting but you do need to always check first that the betting site you wish to use accepts it. There is a growing number of betting sites and online casinos that allow customers to use Bitcoin and other cryptocurrencies nowadays.
Betting with cryptocurrency is legal in most countries where online sports betting is legal. The situation does vary, however, depending on which country you live in. It is therefore always wise to check the local regulations and laws before you commit to opening an account anywhere.