Cryptocurrency is being adopted by more people than ever when it comes to funding their online gaming habits.
We already know that there are several dedicated bitcoin casinos that offer customers the chance to deposit, earn bonuses and also play a wide range of casino games using this most popular form of cryptocurrency.
There are also sports betting sites that are now accepting bitcoin as a form of funding but if there has been one problem which has dogged bitcoin gambling and betting over the past few years, pretty much since its inception, it has been that the value of your bitcoin wager tends to preclude those players that only like to wager smaller stakes.
The problem is this, as one bitcoin is worth approximately 2,937 pounds, even if you were to bet a small fraction of this, then your wager would still be worth tens, if not hundreds of pounds. While higher rollers may be happier with these larger stakes, for the average player, or a player who likes to bet with very small stakes, bitcoin became a form of currency that they were not really able to use due to the relatively high costs of the lowest value bets.
That has now been resolved by the forward-thinking people at online bookmaking service Cloudbet who have made the move to allow very small microbetting using bitcoin (or fractions of a bitcoin called Satoshi) on its site.
Start microbetting now. Click here to learn more.
What is Microbetting?
As the name suggests, Microbetting is when you place bets using a stake that is smaller than the standard stake. If we can measure a standard stake in standard currency, such as the pounds, then a typical bet would be anything from a single pound up to tens of pounds.
Microbetting is at the smaller end of the scale and this often means people placing bets worth a few pence, in terms of British Pound currency. However, for bitcoin this means that you are dealing with the fractions of bitcoin known as "Satoshi" (which were named after Bitcoin's developer).
Any bet that is of small stakes of any currency can be called Microbetting and while it has been available for standard currencies on bookmaking sites for a while now, it has been less widely available on bitcoin and other cryptocurrencies. That is until Cloudbet decided to lower the bar to include those punters who don't want to place higher value bitcoin bets.
Why is Microbetting with Bitcoin useful?
Microbetting is useful for people with bitcoin for a number of reasons and it is also useful for bettors in general too. Let's explore some of the positives when Microbetting in general first, before we look at some of the positive aspects for people microbetting with bitcoin.
In general terms, offering microbetting is a way to appeal to the large number of punters who like to place smaller value bets. This can include people who do not have much spare cash to spend each month, but who still want to play casino games. By allowing microbetting, you allow these players to experience more spins, turns, deals or whatever for their money.
Microbetting is also a great option for people who like to place multiple selection bets, especially accumulator bets. These bets can see a relatively small stake earn a sizeable win, if the punter can predict the correct results across a number of different sporting events. These types of bets are hugely popular and it is possible to turn a stake of just a few pence or Satoshi into a prize worth far more.
In terms of betting specifically with Bitcoin, microbetting is perfect for those that hold bitcoin but who do not want to wager larger amounts of money. Traditional bitcoin gambling was a considerably more expensive past time before the introduction of Microbetting at Cloudbet, which now means that punters are able to risk just a tiny fraction of their cryptocurrency when wagering a bet. Given the volatile nature of bitcoin's value anyway, that can only be a good thing for the bitcoin owner.
Can you still win big when Microbetting?
Of course, microbetting is the same as any form of betting, any size of win is possible, it all depends on the odds of the selections that you make.
If you are the type of punter who enjoys microbetting on shorter odds, such as even money bets, then you are only going to win back similar amounts of money to those that you wager. Many punters are more than happy with this and this form of betting remains very popular.
However, if you are a punter that likes low risk/high reward bets in particular, such as accumulator bets, then you can turn a small microbet stake into a much larger sum if your accumulator comes in. Of course, these bets can be very difficult to hit, so they may not hit often, but as you are only wagering small amounts, this means that you may only need one win every so often to more than cover all the microbets that you make.
Who are Cloudbet?
Cloudbet are a company that offer a wide range of different services to its customers, all of which are based on bitcoin and cryptocurrency. In addition to a Bitcoin Sportsbook which features sports such as Basketball, Soccer, Tennis, Baseball and MMA among others, the company also has its own Bitcoin Casino and a special Live Bitcoin Casino.
The company is registered in Curacao and the site boasts its own blog, including strategy guides for betting with bitcoin, as well as an extensive help section and it of course adheres to all the principles of responsible gaming.
Cloudbet's betting service is one of the most advanced in the world for bitcoin betting as it can be accessed on both desktop and mobile devices and offers two-factor authentication to access their account and all bitcoin deposits are held in Cold Storage, which means keys are stored offline away from the eyes of hackers.
Can I join Cloudbet?
The great news is that you can sign up with Cloudbet now using their current introductory offer. New customers can sign up today and receive a 100% Matched Deposit bonus which could be worth as much as 5BTC/BCH when you sign up. The bonus is released automatically upon confirmation of the deposit and when you start playing at the casino. You earn your bonus in increments of 0.01 BTC for every 800 loyalty points earned on the site. You earn loyalty points by making bets, playing casino games and the like at Cloudbet.
Sign up today and start microbetting!