The mainstream sports betting market has gone from strength to strength, with legalization rolling out to more regions all the time. Naturally, the hope is that the dominoes will continue falling for increased legalized online poker as well.
In any event, hand in hand with this uptick in support and spending, the crypto casino sector has risen to prominence, too. What makes this even more exciting is that betting opportunities with crypto assets are just as varied as with fiat currencies.
This is where sports betting arbitrage enters the picture, so what is it, and how does the inclusion of crypto in this equation make a difference?
The lowdown on sports betting arbitrage
Because of the variety of odds available across a litany of events, arbitrage tactics can be used to secure a profit no matter what the outcome.
The idea is that so long as you check the odds carefully, you can exploit small differences in odds to bet on every possible outcome and effectively eliminate the chance of a loss. While challenging to execute, it’s not an impossible betting strategy.
The advantages of crypto in this context
There’s one very good reason to look to crypto-based sports betting if you want to leverage arbitrage as a strategy, and that’s transparency.
Crypto casinos and sportsbooks are keen to adopt the blockchain to fuel as much of their infrastructure as possible, and when odds and outcomes are recorded and stored on a ledger anyone can see, there’s no room for manipulation.
So if you’ve been stung with sports betting arbitrage when playing via a traditional casino site in the past, making the shift to a crypto equivalent makes sense.
The operators to consider
A whole host of crypto casinos now support sports betting, which makes choosing a place to play tougher.
It’s a good idea to check independent reviews of sites before you commit assets to them, such as CasinosCrypto’s review of crypto casino Duelbits. That way you’ll know what to expect if you do decide to sign up and start gambling.
You can also mix in your own research, according to what sports betting opportunities appeal to you the most. If you’ve got a passion for popular examples like football or baseball, that’s no problem, and esports are also well covered. If you want to bet on more obscure activities, you might have to search a bit harder.
The caveats to keep in mind
While sports betting arbitrage can take off where crypto assets are being used as capital, it’s also worth noting that the aforementioned transparency makes it harder for inefficiencies in odds to emerge. Again, while a winning strategy it’s a challenging one to execute.
Also if you are not confident in your arbitraging abilities, then you may be risking a lot of a currency that you’ve worked hard to accumulate, only to see it slip out of your grasp if something unexpected occurs, such as an outcome you didn’t account for.
This means that unless you’re experienced in odds-related arbitrage, and you are happy to leave large sums hanging in the balance, you have to think responsibly.
The bottom line
There’s no question that crypto is creating a brave new world for the gambling industry as a whole, not only for the operators but also for their customers.
You have to be savvy and realistic if you’re going to make any kind of wager, and while arbitrage does promise to provide profits if done right, it’s far from foolproof, or else everyone would be doing it and the sportsbook sector would collapse.
Keep your wits about you, take your time to build your understanding of this topic, and choose your casino site carefully. All this should lead to a satisfying gambling experience, if not one that will always leave you in the black.