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How To Make Money Betting On Crypto | Actionable Tips to Follow in 2024

If you are interested in crypto betting learning how to make money betting on crypto should be the first thing to do. Indeed there are insane profits and luxury in cryptocurrencies betting that many people are interested in this gambling type. But what is the best way to make money betting on crypto?

In this review, we tell you ways of making money off crypto betting. This is not crypto for dummies guide only, but a guide for all who intend to learn how to make money with crypto bets.

Summary of the article

Top 10 betting sites to bet on crypto in 21 November 2024

Rank
Bookmaker
Bonus
Safe & Trusted
Rating
Get Started
1

Stake Sports

Exclusive 10% Rakeback
Yes
Rating 9.99 out of 10
See moreGet bonus
2

Vave

100% up to 500 USDT
Yes
Rating 9.97 out of 10
See moreGet bonus
3

Megapari

Welcome bonus on your 1st deposit up to 100 EUR
Yes
Rating 9.97 out of 10
See moreGet bonus
4

Betandyou

Exclusive: 130% up to €143
Use Promocode: GAMBLINGJUDGE
Yes
Rating 9.98 out of 10
See moreGet bonus
5

1XBet

100% up to €100
Yes
Rating 9.89 out of 10
See moreGet bonus
6

SpinBetter

Exclusive: 100% up to €130 Use Promocode: JUDGE
Yes
Rating 9.88 out of 10
See moreGet bonus
7

Betwinner

Exclusive: 100% up to €130 Use Promocode: GJBET
Yes
Rating 9.26 out of 10
See moreGet bonus
8

Cryptoleo

FREBET Up to 50 USDT/EUR
Yes
Rating 8.89 out of 10
See moreGet bonus
9

FreshBet Sports

100% up to 500 $/€/£
Yes
Rating 8.37 out of 10
See moreGet bonus
10

Fairspin

Welcome package: 200 TFS + up to 450% + 140 free spins
Yes
Rating 8.23 out of 10
See moreGet bonus

What is crypto betting, and how does it start? 📖✏️

Cryptocurrency betting is simply placing wagers using one of the many forms of cryptocurrencies on a bookmaker. Usually, a bookmaker may offer many cryptocurrency options, or a single major crypto, usually Bitcoin. But a few bookies mint their tokens, which you buy then use for gambling. Usually, many people think that betting with cryptocurrency is synonymous with crypto betting. Cryptocurrency betting only emerged a few years ago. The proliferating online betting sites and casinos have helped spread crypto in betting. Today, even financial institutions put up crypto, especially Bitcoin, for trade. So, you might want to learn how to bet on crypto and make a profit.

Gambling is booming, and it is expected that by 2030 the gambling market will hit the $100 billion mark. That simply means that gambling is a much-loved activity by millions of people; thus, creators of gambling games work extra hard to bring exciting games to gamblers. Nowadays, you can also bet on elections. Additionally, crypto esports betting has carved its niche in the gambling scene. Today, e-sports betting is common among skin gamblers. Similarly, you can quickly try out LOL crypto betting on your favorite esports betting USA offers. Again, these are common in esports betting UK sites.

For those who love horse riding, there are lots of crypto horse betting sites to try.

How to bet on cryptocurrencies, don't worry is easy! 🤓

Learning how to invest in cryptocurrency can make a massive difference between winning and losing. While live betting is not guaranteed to give positive returns, learning easy ways to make real money betting on crypto can be life-saving. 

📉Trading Crypto

Easier than finds on which sports to bet on in order to make a larger profit, you can make money by trading crypto. Crypto trading is simply speculating on the movement of cryptocurrency using your crypto trading account (CFD). Alternatively, it can be selling and buying the different crypto coins via an exchange. 

Trading Crypto via CFD 📊

CFDs are simple derivatives that allow you to hypothesize crypto price movements without owning the underlying coins. You can buy (go long) if your crypto price rises in value or sell (go short) if you feel the price will fall. You only need to put a small deposit (margin) since both products are leveraged to gain total market exposure. The profit or loss is calculated based on your position; leverage will magnify losses and profits.

Trading crypto via an exchange 💱

In this case, you buy coins themselves. Therefore, you need to create an account and put up the full value of the asset to open a position. Finally, store the cryptos tokens in your wallet until you are ready to sell. This option is the hardest about how to make money buying and selling crypto as it requires you to study and understand the underlying technology that the betting exchange uses. Besides, you have to make sense of the data. Additionally, some exchanges limit the number of deposits one can make, and the accounts are expensive to maintain. 

🎰Betting/Gambling with Crypto

Betting exchanges with cryptocurrencies is pretty straightforward. Here are the steps to follow:

Get a crypto wallet 👛

If you do not have a crypto wallet, open one from the available providers such as coin base, Electrum, Binance, etc. A Crypto wallet is where you put your crypto coins. So, knowing how to set up a crypto account is essential for any crypto bettor. 

  • Select a trusted platform
  • Click the signup button and personal information
  • Choose a secure password –  use a two-step verification 

Transfer or Buy coins 🛒💸

Crypto platforms allow you to buy cryptos using credit cards or bank transfers in accounts. If you already have an account, transfer the coins to a new hosted wallet for safekeeping. 

Choose a betting site 🔎

This is simple: select a fully licensed site to operate within a specific jurisdiction and on a specific sports that you like, e.g. a tennis crypto bookmaker, and you are ready to place your bets.

Fund your casino account 🆕

Log into your mobile betting site and locate the cashier or deposit section. From the list of cryptocurrencies, select the crypto in your eWallet, and complete the process as per the directions. Money is usually deposited into your account instantly. 

💲With funds on your gambling website, you can start betting right away.

Types of bets available for crypto betting

The available bets for crypto betting for 21 November 2024 are:

Moneyline Bets: this is a bet on a team or a player you think will win a match. For instance, you have a match between Man U vs. Man City football clubs; in crypto football betting, you choose a team you think will win the game.

Over/Under Bets (Totals): here, if you like crypto football betting, you predict the combined score of the two teams playing a match and compare it to a set value. The set value can be 3.5, so you can predict whether the totals will be over or under 3.5 goals.

Asian Handicap/Spread betting: this is simply betting on the margin of the victory. The oddsmakers use a point spread to match the two competing teams or individuals. The stronger team has a minus sign (favorite), while the weaker team has a positive sign (underdog).

Parlays/Accumulators: A player places at least two bets and ties them to build a single bet. For the bet to be successful, all the legs in the accumulator must win.

So, how do I make money betting on crypto in just 4 steps?🏧

Crypto betting is a form of gambling, so there is no best way to invest in cryptocurrency. Instead, what exists are tips on how to make money with Bitcoin and other cryptocurrencies. Here are tips we consider top ways to make money from crypto betting:

Step 1
Understand how cryptocurrency functions – price determination, the right platforms to buy and sell, and how they function. Simply find the best way to buy crypto.
Step 2
Invest in a cryptocurrency of your choice. The best crypto to invest in is Bitcoin, as it is the most popular.
Step 3
Make use of the welcome bonuses. Another way to get money from betting on crypto is bonuses. When you buy and sell cryptos, the exchange platforms offer you bonuses. Use them wisely.
Step 4
Earn interest on your cryptocurrency – buy the crypto and hold it for a certain period.

🖩How to calculate cryptocurrency odds?

When you buy cryptos, three things might happen:

  • Rises 
  • Remains the same 
  • Goes down 

Normally, when the prices rise, you win, and if it goes down, you lose. However, when the price goes sideways, you neither win nor lose. Given the three possibilities, your probability of winning is 33%. Bookmakers use odds to display to the bettors the chances of winning. 

The odds compiler uses various aspects to determine an event’s probability. In cryptocurrency betting, especially in Bitcoin cricket betting, the odds vary from one bookmaker to another due to the theoretical profit margin.

Top 3 cryptocurrencies to bet on it in 2024 🕶️

The “how to earn money through crypto betting” cannot end without looking at the top cryptos to use in 2024. This section lists the top three cryptos you will never miss on any betting sites.

Bitcoin ₿ 

Bitcoin is the most popular cryptocurrency around. Though it has its shortcomings, such as most crime reports, it still is a force to reckon in the betting industry. This is evident thanks to the multiple Bitcoin bookmakers and betting sites around. 

👉Before using Bitcoin, you should know the following:

  • how to use Bitcoin ✔️
  • how to earn Bitcoin ✔️
  • how do I invest in Bitcoin ✔️

🔒Bitcoin is still safe to trade and there is a common payment method used by bookmakers. Each coin is mined using an encrypted code of a string of numbers and letters.

Ethereum Ξ

Ethereum crypto is the second largest coin in market capitalization after Bitcoin. Its second position makes it a widespread option for bettors. Ethereum betting is the only betting crypto that could surpass Bitcoin betting in the near future, especially regarding match betting crypto.

Dogecoin D

Dogecoin is a meme coin created in 2013, and the first Doge was traded in 2014 for a meager US$0.001540753. Today, this crypto has gained up to 32,000% in value. However, this coin maintained a low profile until 2020, when people became more familiar with the crypto market. Today, Dogecoin betting has gained traction, and many gambling sites embrace it.

Valuable tips about betting on crypto 🏆

👇Learning how to get max value when betting on sports is vital for every punter. However, this comes at a prize – you must understand the sport, currencies of bookmakers, and the different strategies that will make you win. Let’s look at some valuable tips on how to become rich from crypto betting:

Tip

  • Have a strategy – this will help you separate genuine recommendations from scams. Always critically look at available information before betting on crypto. 
  • Manage your money – the first step on how to make money using crypto betting is not losing money. Set a budget and stick to it. Consider starting with a minimal amount before graduating to higher amounts.  
  • Be on legal betting sites – these are fully licensed gambling sites, meaning that they are safe betting sites for all bettors.
  • Use bonuses with a Bitcoin sports welcome bonus; you start with a larger bankroll. Use this and other bonuses wisely to build your winnings.

🔔Note that mobile betting sites allow crypto betting. You can use crypto betting apps for Android if your phone uses Android OS. However, for better iPhone betting, consider choosing betting apps for iPhones.

PROS and CONS about making money with crypto 👍&👎

PROS

  • Quick transactions
  • Low transaction fees
  • Secure
  • Not subject to inflation

CONS

  • Limited to a few gambling sites
  • Can be volatile

FAQ about making money betting on crypto

You can make money betting on crypto using various strategies. However, depending on crypto betting for a living requires in-depth analysis, research, and following a concise plan. But still, it is a risky venture.

The best way to quickly make money include mining, trading, and investing.

Getting a lot of money from crypto betting can be achieved by investing a lot of cash or betting frequently. Alternatively, you engage in different activities– Investing, Trading, Mining, and Staking and Lending.

Many platforms offer a point where punters can bet on cryptocurrencies. These are typically betting sites and exchanges that allow you to trade coins or use the coins to place bets.

Betting on crypto is considered gambling because it involves speculating the outcome of an event or the movement of the price of the coins.

Bitcoin (BTC) is the coin that most investors will want to invest more in it as it has the best performance ever in the world of cryptocurrencies.

How to make money investing in cryptocurrency: Is it possible? ✔️

You can make money betting on cryptocurrency. However, it requires a deeper analysis of digital currency stocks. This will give you a clear picture of investing and making money daily. Remember, the answer to: “how do you make money from stocks?”, depends on your understanding of this market. Find the right strategy, understand how crypto markets work and locate the best platforms to buy and sell cryptos. That will help you make lots of money.