Sunday is the day – the Chiefs and 49ers will go head to head during Super Bowl LIV. Over 98 million people are expected to watch the game – it’s likely that many of them already have a wager or two going. If you’re a crypto enthusiast and a fan of American Football, you might be interested to know about the many platforms for placing Super Bowl bets using bitcoin and other cryptocurrencies.
Not only that, you might want to learn how to place a bet with some bitcoin. We can’t say that’s a good or bad decision – that’s all on you! (Gamble responsibly and know the laws!) But what we can do is show you the door to the world of bitcoin betting to learn how it works and if it’s for you.
What kind of Super Bowl bets are we talking about?
To start, let’s take a look at some of the ways people are betting on Super Bowl LIV: mainly you’ll see point spreads, but also the moneyline, the over/under, and some exotics.
Point spreads give bettors a way to bet on both teams. To win a point spread bet, you’d need to have your team win by the point spread offered by whatever sportsbook you are using.
A sportsbook is a place for gamblers to bet on sports competitions such as football, soccer, hockey, and boxing. The word derives from the term “bookie” or “bookmaker”, which you may have previously heard. And obviously, it’s all about sports. So much so that sports betting has almost become a sport in itself!
Betting the spread, also known as “the line”, refers to the margin of victory between the total points of both teams.
This year’s Super Bowl spread:
Kansas City (-1), means a bettor can win if Kansas City wins by more than 1 point.
“The NFL Championship’s point spread, like all point spreads, is a betting market based on “spotting” points to the underdog and “taking” points away from the favorite prior to kickoff.” – FanDuel.com
If you’d like to learn more, a video explanation on point spreads can be found here.
A money line determines how much a bettor would have to bet to win $100. To win a money line bet, whichever team you bet on needs to win. Payoffs are based on true odds, not fixed, and the amount won can vary.
Super Bowl 54’s money line is currently looking like this:
Kansas City (-117; bet $117 to win $100); San Francisco (-103; bet $103 to win $100)
Also called a “Totals Bet”, the over/under means you are betting on the combined score of both teams. Your bet will either be on a number higher or lower than the over/under number set by oddsmakers at the betting site you are using.
Currently, the over/under is set at 54.5
So, when placing Super Bowl bets, you can choose if the game’s final score will be over 54.5 points or under 54.5.
Super Bowl prop bets (“Exotics” or “props”)
Props meaning: You also may run across some exotics, or prop bets. These could include wagers on the opening coin toss, or the color of the Gatorade that will rain down on the victorious coach at the end of the game. Another Super Bowl prop bet for this year is how long Devi Lovato’s National Anthem will last.
Odds sourced at: The Bleacher Repor
For those new to Bitcoin…
Maybe you heard about bitcoin a few years ago and, like most people, first brushed it aside, “Oh, yeah right, internet money!”. Followed by an eyeroll. But, as you’ll no doubt discover, bitcoin has a way of sucking you back in.
Ten years have passed since the birth of the Bitcoin Blockchain, an open public record of transactions that is virtually unhackable. This blockchain, which runs by use of its own native fuel, the bitcoin cryptocurrency, is also secured by the world’s largest decentralized network of computers. Bitcoin is run by an algorithm based on game theory and incentivization.
- It runs itself with a worldwide pool of participants who earn to secure the network, hold as a store of value (HODL), or trade to earn on the volatility.
- Bitcoin has a limited supply – only 21 million bitcoins will ever be minted. This represents the opposite of deflationary economics. The value can only grow in demand – billions of new bitcoins can ever be added to circulation, deflating the value such as with the US dollar.
- Bitcoin has been growing and thriving for over ten years.
- It appears to be heading towards digital gold status.
- The chances of it being regulated or shut down by any entity are very slim. There is no CEO. No shareholders. No headquarters. And the technology is open source and available to anyone with an internet (or satellite) connection.
As you can see, what you hear in mainstream media about bitcoin is just a scratch on the surface of what bitcoin really is. If you are ready to go down the rabbit hole to learn why people are so avid about bitcoin and how the potential of blockchain technology is rocking their world, start first with some blog and video guides to give you a good background:
Blog Guides for learning about bitcoin:
- The Pitfalls of Fiat and Why Bitcoin is Better
- 4 Great Ways to Earn Bitcoin
- How to Buy Bitcoin
- How to Stay Safe in Crypto and Not Get Rekd
Video Guides for learning about bitcoin:
If you’re interested in other ways of making best with bitcoin, be sure to read our Ultimate Guide to Bitcoin Poker
Should you make Super Bowl bets using Bitcoin?
Before betting on Super Bowl LIV with bitcoin, ask yourself these questions:
- Is it legal where you live?
- Do you have expendable income, meaning you have money to play around with and very possibly lose?
- Are you using a legitimate or well-known sports betting site?
- Is it worth it to give up your bitcoin for a sports bet?
Now, this last bullet point is the real kicker. One bitcoin is valued at over $9000 currently. This is what its growth looks like, as far as blockchain wallets users, according to Bitcoin.com
Here’s one more visual for you – it represents growth of bitcoin transactions over time on the Bitcoin Network:
To sum up what experienced bitcoin betters already know, bitcoin betting requires little effort and low-medium income and is extremely risky, as rated by 99Bitcoins.
Still, if you decide you want to partake of a little Super Bowl betting with bitcoin, here are some platforms that have sportsbooks to accommodate you. (Note: Do read the terms and conditions of each site and know the laws in your country.
Sites for placing Super Bowl Bets with Bitcoin:
Okay, but can you WIN a bet in bitcoin?
After all that talk about sports betting, the big game, and bitcoin, you may be thinking, hm, can I win bitcoin (BTC) by betting on the Super Bowl? Or do I just earn fiat or cash? The answer is that several online sports betting platforms are now offering “Bitcoin Bonuses”, which pay in BTC and offer a way for these relatively new entities to build their audience and loyalty. According to Sports Betting Dime, three of the platforms currently offering bitcoin bonuses are:
Then again, we are talking about bitcoin, which is the supreme, peer to peer payment system. So if you have a friend with a bitcoin wallet, maybe the two of you can do a little peer to peer wagering.
Ready for some football?
From the current odds, it seems that people believe this will be a close game, which of course makes for great Super Bowl excitement. If you are new to sports betting, you’ll want to know that you can either bet before the game or during the game with online sports betting sites.
Feel free to let us know on Twitter what your Super Bowl predictions are by taking our Super Bowl LIV poll!
Good luck to both teams and to all the sports bettors counting on winning the odds! We’ll leave off with a little Superbowl LIV trivia:
- This is Kansas City’s first Super Bowl appearance in fifty years.
- If San Francisco wins, they will tie the New England Patriots and the Pittsburgh Steelers for most Super Bowl victories (6).
- The game will be a contest between the 49ers’ amazing defense vs. the Chiefs’ high-powered offense.
- San Fran’s Quarterback, Patrick Mahomes, was 2018 League MVP and some are betting that he’ll win the Super Bowl MVP as well.
- Kansas City played in the first-ever Super Bowl in 1967, losing to the Green Bay Packers.