Bitcoin Gambling

How to bet on the NBA with bitcoin

Bitcoin betting primer

If you’ve got this far without being too sure about what bitcoin is, read this introduction to bitcoin first. For those who are familiar with bitcoin, there are several ways it can be used for betting.

With the birth of the internet, betting quickly moved online facilitated by traditional payment methods like bank and credit cards, as well e-wallets like Neteller or Paypal. The advantages that bitcoin has for betting over these traditional methods has seen rapid adoption by sportsbooks, but not all are as they seem.

Some traditional sportsbooks working with fiat currencies dollars and euros) - market themselves as accepting bitcoin but this is for deposit only. Your bitcoin is convert into Euros or Dollars for betting, and then back again when you want to withdraw. This has many drawbacks which are discussed in more detail here - how bitcoin betting works.

Cloudbet operate differently, as we are a pure bitcoin sportsbook. You deposit in bitcoin and can then bet on the NBA in bitcoin. This also means that your bets are paid in bitcoin, and subject to its fluctuation (and potential appreciation) making it in effect two bets in one. You are then able to take advantage of ease of transaction with bitcoin by instantly withdrawing any winnings. With the primer out of the way, let’s run through the markets available for betting on the NBA with bitcoin.

NBA odds at Cloudbet


NBA bet types - Spread, Money Line & Totals

The Spread is the most common way to bet on the NBA at Cloudbet. A Spread essentially accounts for the number of points each side is expected to win or lose by to artificially create an even matchup. A Team with a negative spread - such as -10 points - is expected to win by that margin; conversely the opposition receives 10 points to balance the expectation that they will lose by that number. 

An NBA Spread might therefore look like this:

  • Washington Wizards (-2) 1.95 - €10 stake returns €19.50 [€10 stake + €9.50 profit]
  • Toronto Raptors (+2) 1.95 - €10 stake returns €19.50 [€10 stake + €9.50 profit]

In the case above, to win a Spread bet on the Wizards as favourite (-2) they must win by at least three points to exceed our expectation - called covering the spread. To win on the Raptors - the underdog - they must win the game, or lose by less than one point to cover the Spread. If the favourite wins by two points (so the underdog loses by exactly two points) it would be graded a push and Cloudbet would refund all bets.

A Spread essentially accounts for the number of points each side is expected to win or lose by to artificially create an even matchup.

A Spread essentially accounts for the number of points each side is expected to win or lose by to artificially create an even matchup.

NBA Total

An NBA Total bet - also known as an Over/Under - is a bet that the expected aggregate points total of a game will be Over or Under the number set by Cloudbet. The Total enables you to focus just on the number of points a game will produce rather than who will win (the Money Line) or the margin of victory (the Spread).

An NBA Total might therefore look like this:

  • Washington Wizards (Over 214.5) 1.95 - €10 stake returns €19.50 [€10 stake + €9.50 profit]
  • Toronto Raptors (Under 214.5) 1.95 - €10 stake returns €19.50 [€10 stake + €9.50 profit]

To win an NBA Total bet on the Over for this game would need the sum of points scored by Toronto and Cleveland to be more than 214. Conversely, a successful bet on the Under would need the sum of points scored by Toronto and Cleveland to be less than 215. If the Total was a round number and combined score exactly matched it than Cloudbet got it spot on and your bet would be refunded.

Money Line 

The Money Line is the simplest NBA bet type as the odds simply represent a given return for the team winning the game. A Money Line might look this:

  • Washington Wizards 1.78 - €10 stake returns €17.80 [€10 stake + €7.80 profit]
  • Toronto Raptors 2.15 - €10 stake returns €31.50 [€10 stake + €21.50 profit]

In this bet the Wizards are favoured to win because the odds provide a smaller return - Cloudbet think that outcome is more likely. Conversely, the Raptors are considered the underdog - less likely to win - with your NBA bitcoin bet returning a bigger payout for that scenario.

For these three basic bet types you will find that you that can apply to the whole game, or just portions of the game, such as a Spread of Total bet on just the first half or quarter, or for live NBA betting; in each case bets work in exactly the same way.

Outrights & Props

Outside of the three basic NBA bet types there are numerous ways to bet on events within a game - called NBA Prop bets - or events that span a season - known as Outright NBA bets.

These deserve more explanation in their own right but Props or Specials are essentially Money Line bets on very specific game events such as how many points a player will score or whether a player will score a triple double. They are normally binary e.g how many points will LeBron James score: Over 30 or Under 30.

Outrights are similar, in that again they relate to a specific event happening, but are focused on the outcome of a league or tournament. ‘Who will win the NBA Title’ is the most common outright NFL bet type, but outright markets can also apply to who will win a Conference of Division.

Ready to bet on the NBA with bitcoin?

Cloudbet offers a wide range of NBA bitcoin betting markets, with limits as low as 0.001 BTC that appeal to casual basketball fan or if you really like to get your blood pumping, as high as 36 BTC. Bitcoin is the future of betting for not just the NBA but sports betting in general; are you ready to make the leap?

About the Author
Cloudbet

Cloudbet

Cloudbet

Posted on 2018-05-02

Cloudbet has a team of contributors that produce high quality content across a range of subjects related to betting and crypto.

Contact us!

Contact us!

Related Articles

How Many Goals Is Cristiano Ronaldo Worth To Juventus?

Bitcoin Gambling

How Many Goals Is Cristiano Ronaldo Worth To Juventus?

What is the Gambler’s Fallacy?

Bitcoin Gambling

What is the Gambler’s Fallacy?

How The Eagles Changed The NFL

Bitcoin Gambling

How The Eagles Changed The NFL