Bitcoin Betting on Mayweather vs McGregor

There is a good chance the upcoming battle between boxer par excellence Floyd Mayweather and modern-day MMA legend Conor McGregor will break all sorts of records - box office and betting alike – and one place the ‘money’ has been flying around is in the world of cryptocurrency bookmakers.

Bitcoin, and the hundreds of other crytpocurrencies which are out there in the ether, has become a standard way for gamblers and sportsbooks alike to do business, with a host of ‘crypto-bookies’ offering odds on the biggest bout of the 21st Century to date.

If you’re not already one of those used to dealing in Bitcoin, the pretty-much anonymous currency of the virtual financial world, then you should know that there are actually several very good reasons why you should consider using it instead of the old-school approach of cash and cards.

Use BTC to bet on the fight over on BetKing.

Favorable odds

You might imagine that all bookies will be offering odds within a small percentage of each other, and that’s true of traditional bookmakers, but as Thebitcoinstrip.com points out, ‘When you bet online using Bitcoin, you will find that the odds for McGregor vs Mayweather are pretty favorable.’

‘In general, they will match, or even exceed, the odds found at the mainstream sportsbooks, and this is because Bitcoin sites have lower fees to pay than standard sports betting sites. The result? They can pass the savings onto you, in the form of higher odds, as well as better Bitcoin bonuses.’

I recently wrote about how poker pros had been making a killing in the cyptocurrency world, the virtual money trading at near all-time highs recently, which is great news for those with Bitcoin (BTC for short) to spare – and having a crypto-betting account is no different to having a crypto-poker account.

1 Bitcoin = US$4114.28 at the moment of writing! So, a lot of the betting will be in fractions of BTC, but the calculations are the same in any event- if you’re getting even money on a Mayweather win, you’re doubling your BTC – simple.

Who is the clever money on?

Of course it depends who you talk to, but as to the winner of the fight, Mayweather is a heavy favourite, the top Bitcoin sportsbooks having him at 1/4  or 1/5, which is about -400/500 in US parlance, or 1.2 to 1.3 in decimal ‘currency’.

There has been so much hype, and there is so much money involved, that strange things might happen. James Canning, a writer for Bitedge.com who has “been living off Bitcoin sportsbetting for 4 years now” is a firm McGregor fan, but even he sees the best bets on the Irishman being ‘last longer’ style bets. If he makes it past the 9th round, you’re getting great odds – nowadays it’s not just a ‘winner takes all’ kind of betting market of course.

What newbies need to know

First up, before you start buying and then betting in Bitcoin, you’ll need to set up a ‘wallet’, which is easy and of which there are dozens of safe and secure ones to choose from.

Then, head to a Bitcoin marketplace and purchase some BTC, before adding them to your wallet.

After that? Simply scour the internet for reliable Bitcoin sportsbooks and see who is offering the best odds on your favourite fighter. Many, such as BetMoose.com, have already seen heavy betting on a McGregor win – though personally I think the clever money should be going on Mayweather!

Where should I bet on the fight?

There are as many reputable Bitcoin sportsbooks as there are secure crypto-currencies, so take your pick and open an account. Again this will vary from completely anonymous to standard verification-type accounts – the choice is yours.

The best odds: Bet McGregor at 5/1 on BetKing.

As Thebitcoinstrip explain, ‘the odds found at Bitcoin sportsbooks can be displayed in three different ways: decimal, fractional, or American.’ If, like me, you’re not used to the US-style odds, ‘you can usually opt to change them to your preferred style. If not, it’s easy to find an odds converter online.’