If you’re new to sports betting and betting with bitcoin, welcome!
It’s actually super simple, and can be broken into four easy steps:
1. Understanding odds
2. Structuring your bet (bet types)
3. Deciding what to bet on (markets)
4. Placing a bet
And, if you’re new to bitcoin, a very quick
5. Understanding bitcoin
We’ll save 5 for another overview. You can find a simple introduction to bitcoin here: explain bitcoin to me!
How do odds work? Let’s start with odds!
Basically, they tell you what we (the sportsbook) think is going to happen. They’ll tell you what we think the likely outcome is, and who’s the underdog.
They can be formatted a few different ways.
At Maverick, you’ll see:
- Hong Kong
Each format is popular in different parts of the world, but the most commonly used is decimal. That’s because with decimal odds, it’s easy to calculate your winnings!
Winnings = stake x decimal odds
For example, let’s say you placed a 2 mBTC bet with odds of 7.00.
Winnings = stake x decimal odds
Winnings = 2 mBTC x 7.00
Winnings = 14 mBTC! In this example, your total profit would be 12 mBTC (your winnings, minus your initial stake).
To learn more about types of odds, check out this more detailed introduction: How do odds work?
Structuring your bet
Now that we know how odds work, let’s talk about different ways you can build your bet.
The type of bet you choose will depend on how much risk you want to take.
The simplest bet you can make is a Single. You pick only one section. But the odds will be lower than the other types.
You pick two selections, and both must win for the bet to win. The odds are higher because they’re the individual odds for each selection, multiplied together.
Three selections, all on one bet. Even higher odds!
Accumulator (acca or parlay)
This is any bet that contains four or more selections. Usually the highest odds with the potential for the biggest winnings!
You can put any type of bet or market into these structures, creating your own odds and opportunities to win! Dota 2 map 1 and English Premier League corners on one bet? Why not!
What you can bet on (markets)
Maverick offers hundreds of markets on many games, so you can bet not just on who will win, but also on specific players taking different actions, penalties, and even on the outcome of the coin flip that starts off American Football games!
The most popular kind of bet is the 1X2 market, also known as the home, draw, or away. When you bet 1, you’re betting that the home team will win. 2 means the away team will win. And X means you’re betting that the match will end in a draw.
This is different from moneylines, which don’t offer a draw option. If the game ends in a draw, it’s considered a “push”, and your stake will be refunded.
A market that our team likes is outrights. Outrights are usually placed before an event or tournament begins (but sometimes they’re offered mid-way through). You’re predicting the overall winner. For example, before Wimbledon begins, I bet that Roger Federer will win the whole tournament.
Handicaps, point spreads, double chance… oh my!
There are lots more types of markets! Check out what’s available on the Maverick sportsbook!
How to place a bet
Ok! So, you know how odds work, you know what type of bet you want to place, and you know what markets you’re interested in. After all that, placing your bet is easy!
Just find the event you’d like to bet on using dropdowns or search bars.
Once you have it, choose the market you’d like to bet on and then tap or click on the odds next to that market. The selection will pop up on the right hand side of your screen in your betslip.
From here you can decide whether to add more selections to your betslip or use the stake selector to choose how much you’d like to wager.
When you’re happy, press place bet and presto, you’ve placed your first bet! We also have a super handy quick bet toggle. If you’ve got a preferred stake size, turn the toggle on and then select your amount. Now every time you click or tap on a selection it will come up with the option to place a quick bet.
Ready to get started?