Welcome! Thanks for coming to check out Bitcoin Sports. Here I plan to host sports bets that allow you to win Bitcoins by betting on your favorite teams. In this particular thread, we are going to start with NFL betting. If there is enough interest, betting will continue all season, and new sports will be added to bet on.How it works:
Every week, I will list games along with a point spread. This spread will be the same as used by most Vegas casinos and online sports books. You are then able to view your choices, and pick any game that you wish to bet on. Then, you send your Bitcoins to BitSports, along with who you've chosen to win. If your team wins the spread, you double the amount of Bitcoins you've bet!
Step by step:
1) Open, or generate, a new MyBitcoin(mybitcoin.com
) address. MyBitcoin is necessary because it allows notes to be left from the payer, that the payee can view, and it also shows the address of the payee. This is important for picking your teams later on.
2) Private message me your new MyBitcoin address, and I will give you the BitSports BTC address to send your bets. You MUST
have at least five(5) posts on the Bitcoin forum. This number will likely go up as time progresses. This is a necessary precaution to try and minimize the act of any one person creating multiple addresses to make more bets than the maximum I put in place. You are allowed only one address to bet with. Addresses only need to be approved once, and you can then bet as often as you'd like.WARNING: Do NOT change the MyBitcoin address used for betting, or you will have to notify me before you are allowed to bet againBets from addresses in which I did not approve beforehand will be returned
3) Wait for your games to be posted. Every week I will post new matches along with their spreads onto the forum. Once they are posted, you are allowed to bet on those games immediately, and you can bet on them up to the last minute before the scheduled starting time.
4) In order to bet, fill your MyBitcoin wallet, and send your coins to the Bitcoin address I give you. When you click on Send Payment
in MyBitcoin, there is a Payment Note
section. In this section, you will list the team that you want to bet on, along with the date of the game. Bets that do not list a team AND date in the note section will be returned
5) Wait for the match to finish, and receive double your bet when you win!
For regular season games, bets are limited to 50 BTC
per day per person. This is so I can measure the interest members have, build trust, as well as ensure I can sustain any number of bets in case we have some real sharks around here
. You can spread the coins however you'd like between the teams, but please send each bet separately.
For this NFL preseason(August 12-September 2) I am going to start testing the waters, and begin taking bets up to 10 BTC Requirements:
FAQ:- Which sports will you hold bets for?
- You MUST be of legal gambling age.
- A free MyBitcoin account.
- At least five(5) posts on the Bitcoin forum.
- Bets must be made from an approved address.
- Bets must include the team, and date in the notes section.
For now I only plan on hosting bets for the NFL and NBA, though I am open to all recommendations and will host other sports if there is enough interest.- Why is a MyBitcoin address needed?
So it's viewable who the payer is on each bet, and so the payer can leave a note while betting to list the team and date of the game.- How do I bet using a point spread?
Point spreads are used to give even odds to the underdog.
Example: There is a game posted that reads "Team A (+7) vs. Team B (-7)". In this situation, Team A is the underdog. If you bet on Team A, your team can lose by up to 7 points, and you still win the bet. In order for you to win if you bet on Team B, they not only have to win the game, but they have to win by more than 7 points. If B wins by 7 points even, it's a break and your original bet is returned to you. Most spreads use 1/2 points in their spread to minimize any even breaks. Remember, the team with the positive number next to their name is the underdog, and they can lose by up to that many points and still win the spread.- Can I bet 50 BTC for today's game and 50 BTC for tomorrow's at the same time?
Yes. You can put more than 50 coins into play in a day, as long as the total does not exceed 50 coins of bets per day. For example, if there is a game on every day of the week you'd like to bet on, you can bet up to 350 bitcoins on Monday, as long as there isn't more than 50 Bitcoins in bets per day. 350 coins equals to 50 coins each day of the week. - When are the winners paid?
Games will usually be payed out under 24 hours after it ends. Due to the fact that these are manual transactions, this will not always be constant, so please allow extra time.
Let the fun begin! Everyone is free to use this thread for any sports or betting discussions. Betters and all of their bets are kept entirely private unless you discuss it. Remember, for the preseason there is a maximum of 10 BTC in bets per day to get everyone used to betting. Please feel free to post any questions, or send me a private message with any questions, recommendations or interest in the event.
. I hope you all enjoy this service!