Many top-tier Bitcoin sports betting sites offer welcome bonuses when you open a new account. They do it to attract customers and outshine competitors. As a bettor, you should prioritize platforms with this incentive. Why? With a sizable welcome bonus, you can dive into sports betting without risking your money.
But it is wise to note that you may prematurely lose your entire welcome bonus if you are not careful. And that is bad news since it undermines the overall betting experience and reduces playing time. To prevent that from happening and earn returns from Bitcoin sportsbook bonuses, pay heed to the following:
Do Extensive Research
Just because you got a free bonus doesn’t mean you should use it mindlessly. If you want to use your welcome bonus to generate profits, study every team and its players’ form. Furthermore, research different sports betting strategies and find one that fits your preferences. After finding a fitting strategy, use your welcome bonus to try it out.
Spread Your Bets
Sometimes, bettors lose all their welcome bonus in one go. If you don’t want to be a victim of the same, don’t wager everything on one sporting event. On the contrary, spread your bets across multiple matches or tournaments. You should also consider wagering on different aspects besides the winning team, such as total goals and potential scorers.
Apply Bankroll Management
The other recommended practice that can help you avoid losing your entire welcome bonus is bankroll management. As a rule, don’t risk more than 5% of your welcome bonus on a single wager. So, if a sportsbook gives you a 1 BTC welcome bonus, don’t risk anything above 0.05 BTC on one bet. Start with a lower percentage, work your way up as you become more skilled, and chase bigger profits.
Try In-Play Betting
In-play betting has its fair share of perks. It allows bettors to exploit profitable opportunities like changing momentums in a football match or a red-carded player. It also allows you to avoid enormous losses. If you haven’t tried live betting before, use your welcome bonus to test the waters risk-free.
Learn and Adapt
If you are a newbie in sports betting, expect to make numerous mistakes. For instance, you will back the wrong team, have unrealistic expectations, fail to research, fall for the gambler’s fallacy… the list is endless. But since you have a welcome bonus and can enjoy risk-free betting, use this opportunity to test your skills, learn, and adapt.
Cash-Out Early Whenever Possible
Things don’t always go as planned in sports betting. You will back the wrong horse more than once. Don’t let your entire stake go down the drain when that happens. If possible, cash out early and minimize your losses. You may also do the same when winning if you want a guaranteed profit.
Crypto sports betting has many upsides. First and foremost, it offers the opportunity to profit from sporting events. And with a welcome bonus, you can kickstart your journey to successful gambling and earn significant returns. Ensure you join a platform with this incentive and use your bonus wisely.
The hacks outlined here, like proper bankroll management, will help you make the most of a welcome bonus and get the best outcome from sports betting.