Super Bowl

Super Bowl Betting with Bitcoin

The Super Bowl is fast approaching, and those of us who won’t be making the trek to Miami Gardens can still get in the action by placing bets on the team you think will win—or at least cover the spread. Super bowl betting goes back as far as the game itself, with the moneyline being the original way to bet on the NFL before bookmaker Charles K. McNeil invented the point spread in the ‘40s.

A lot of thought and consideration goes into determining the best types of wagers to place on the Big Game, but now there’s another facet of betting to consider: the currency. With bitcoin on the rise, more and more people are turning to cryptocurrency to place bets, and it’s no wonder why. The best bonuses and promotions are reserved for people who deposit with bitcoin, and the withdrawals are quick and easy too. In this article, we’ll explain the ins and outs of bitcoin before moving on to explain how to bet on the Super Bowl.

What is Bitcoin?

Bitcoin is a cryptocurrency designed for use online. Instead of being connected with a government or financial institution, as most currencies are, bitcoin operates on a peer-to-peer network called “the blockchain.” Every time bitcoin pass from one hand to another, the transaction is encrypted on the blockchain by a coder (also known as a bitcoin miner). A maximum of 21 million bitcoin can be distributed through the network in its lifetime, making it a finite resource.

How to Deposit with Bitcoin

The first step to depositing with bitcoin is to download a digital wallet onto your smartphone, which can be done through an app. Once you have the wallet loaded, you can begin to acquire bitcoin through an exchange network. The bitcoin that you get from the exchange must be sent to your digital wallet using its address. When you have bitcoin loaded in the wallet, you can send it to your Bodog account to place bets in the sportsbook and start taking advantage of some of our sweet bitcoin promotions.

Use Bitcoin Bonuses for the Super Bowl

The best part of using bitcoin to fund your bankroll at Bodog is the free promotional money that’s up for grabs. Key in BOSBITCOIN100 with any bitcoin deposit, and you’ll get a 100% match bonus for up to $300 to use in the sportsbook. That’ll come in handy on February 2 by letting you either bet more on your team-of-choice, or pepper in some extra bets for a more comprehensive experience. Once you’ve got that bonus money loaded in your account, it’s time to figure out how to bet on Super Bowl 54.

Super Bowl Spread, Moneyline, Total

Spread
The spread is a point margin and is the most popular way to bet on NFL because it evens out the playing field between both teams in a game. For the dominant team (the favourite), it’s a margin of victory; whereas for the underdog, it’s a margin of loss. In order for the favourite to cover the spread, they must beat their opponent by a minimum number of points, as dictated by the spread. As for the underdogs, they can lose by a maximum number of points (as dictated by the spread), and still cover.

As an example, let’s say the Kansas City Chiefs are 4.5-point favourites on the spread against the San Francisco 49ers. In order for Kansas City bets to win, the Chiefs have to beat the 49ers by at least five points. Bets on 49ers would pay out if San Francisco loses by fewer than five points, or pulls an upset and beats the Chiefs straight up.

Moneyline
With moneyline betting, there’s no spread involved. Simply choose the team you think will win, and if they do, your bet pays out. The amount paid depends on the odds. Here’s an example of what the odds could look like:

Kansas City Chiefs: —340
San Francisco 49ers: +225

The team with negative odds is the favourite, so in this example, the Kansas City Chiefs are the favoured team. The odds listed for the favourite dictate how much money you’d need to bet in order to win $100; for the Chiefs, you’d win $100 on a $340 bet. The positive odds for the underdog dictate how much money you’d win based on a $100 bet, so the 49ers would pay $225 on a $100 bet in our figurative example.

Total
Betting on the total is a great option if you’re not sure which team will win, but have a good idea as to how offensive/defensive the game will be. Before the game, oddsmakers come up with a number that tries to predict the total number of points that both teams will combine to score. The betting public chooses to bet on the actual total number of points scored exceeding (going over) the total set by oddsmakers, or going under, which is why it’s also called Over/Under betting. We’ll continue with our Kansas City-San Francisco example to illustrate.

Kansas City Chiefs O 48 (—110)
San Francisco 49ers U 48 (—110)

The teams don’t matter when you’re looking at totals, but you’ll want to keep an eye out for the O and U which stand for Over and Under. In our example, oddsmakers have decided on a total of 48 points, so going for the Over means you believe that both teams will combine for more than 48 points, while going for the Under means you believe that both teams will combine for fewer than 48 points. If both teams combine for exactly 48 points, the result is a push and bets are returned.

Super Bowl Props (Team, Player, Season)

Team
Team props have to do with how an entire team will perform, like which team will be the first to score a touchdown.

Player
Player props zero in on an individual player’s performance or action on the field, like who will have the most receiving yards.

Season
Season props cover a certain stat or metric that takes place over an entire season. A popular set of season props is the win total listed for each team at the start of every season.

Super Bowl Buying Points

Buying points is one of the many ways you can customize your NFL bets. After selecting a spread or total, you’ll get the option to buy points in order to move the spread in the direction that benefits you; you can move the spread by a half-point, one point and 1.5 points. Each increment costs an extra 10 cents on the line, so a standard —110 line becomes—120 after buying a half-point.

Super Bowl Buying Points

Up until the conference championship games are concluded, you still have a chance to bet on which team will win the Super Bowl in the futures section of the sportsbook. All of the contenders will be listed along with their odds to win the Super Bowl. As we go to press, the Kansas City Chiefs are +135 favourites to win Super Bowl 54.

Super Bowl Live Betting

The most exhilarating way to bet on the Super Bowl is in real time through the Live Betting section of the sportsbook. Spreads, moneylines, totals, props and more are all available, and the odds will be in flux to reflect what’s happening on the gridiron. Think that a losing team will make a comeback like the New England Patriots did in 2017? This is the best way to get great value on a team that typically starts slow.

Super Bowl Specials

All bets that don’t fit into the standard options are grouped together under “NFL Specials.” A popular example of a Super Bowl special is betting on the colour of Gatorade that gets poured on the winning team’s head coach.

Super Bowl Betting Tips

Knowing how betting affects the Super Bowl Vegas odds will help you make informed decisions at the window. For one, when you bet on the Super Bowl, or any other major league sport, it’s not you against the bookie. Oddsmakers are always trying to get an equal amount of money on both teams in a game, so that the losing bets pay the winning bets. If there is an imbalance between both sides, the sportsbook runs the risk of exposure. When a high volume of bets come in for one team, the opposing team’s Super Bowl odds change to elicit more action.

With this information in mind, you can be fairly confident that teams with big fanbases get the most bets, resulting in slightly inflated odds. When browsing these odds, it’s important to keep in mind that the numbers don’t exclusively represent a team’s probability of winning; they also reflect where the public is directing their money. Good value can often be found with smaller market teams—especially when combined with the Under (people bet on what they want to see, and most fans like offense). Keep these tips in mind when you bet on Super Bowl 54 and may the best team win.