Crypto Sportsbooks with Insurance Betting: A Betting Guide

Have you ever made a bet and then lost at the last minute? Yes, we all have. But don’t worry, insurance bets are here to help. We’ll tell you what insurance bets are, how they work, and why they’re worth considering when betting on sports with cryptocurrencies. Whether you’re new to the field or a seasoned bettor, you’ll want to know how this little safety net can change the way you approach the game.

What is insurance betting?

Think of insurance bets as a safety net. Normally, if you bet and it goes wrong, you lose your money, right? Well, insurance bets work a little differently. With insurance, you get back a portion of your bet, or sometimes even the entire amount, if your bet goes wrong.

For example, you bet $100 that Arsenal will beat Manchester United. Arsenal was leading at half time, but United fought back and Arsenal lost. Normally, you would have lost that $100. However, with 50% insurance, you got $50 back. It’s not a complete win, but it’s better than losing everything.

Or let’s say you make a combo bet that Arsenal, Liverpool, and Manchester City will all win. Arsenal and Liverpool win, but City doesn’t. If you don’t have insurance, you lose your entire $50 bet. However, if you have combo bet insurance that covers one unsuccessful outcome, you get that $50 back. Not bad, right?

When betting with cryptocurrencies, insurance works the same way. You place a bet, and if it loses, you get a refund according to the insurance policy terms. The only difference is that you use cryptocurrencies like Bitcoin, Ethereum or Litecoin to make the process faster and more efficient.

Different Types of Insurance Bets at Crypto Sportsbooks

Not all insurance bets are created equal. There are different types, depending on what type of bettor you are or what sport you like. Let’s take a look at some of the common bets you’ll find at crypto sportsbooks.

• Single Bet Insurance: This covers part of your stake if you lose a single bet. You get some of your money back, which helps to mitigate your losses.
• Combo Betting Insurance: In a multi-bet (accumulator), if one selection loses, you get a portion of your total stake back. This reduces the risk of a multi-part bet.
• Quarterly/Period Insurance: If a team is leading after a certain quarter or period and then loses the game, this insurance will help prevent you from losing everything if the game is reversed by providing a partial refund.
• Split Decision Insurance: If you’re a boxing or MMA fan, you’ll get a portion of your money back if a fighter loses by split decision (a close fight, a contested loss). This softens the blow of a close loss.
• Parley Insurance: If you bet on multiple events and one of them loses, this insurance provides a refund. It helps you stay in the game even if some of your bets don’t work out.
• Bet Builder Insurance: When you create a custom bet with multiple outcomes for an event, this insurance applies even if some of the bets fail. You can receive a partial refund, which reduces the risk of these custom bets.

Why should I use insurance betting?

So, why should you consider insurance betting? Let’s analyze the perks.

• Risk Management: Betting is risky, and no one likes to lose. Insurance bets help manage risk by providing a safety net. Even if a bet goes wrong, you don’t always lose everything.
• Confidence booster: Knowing you have insurance can give you a little more confidence when making risky bets. Sometimes it’s the difference between playing it safe and taking a bold move.
• Refunds for losses: Depending on the type of insurance, you may be able to recover part or all of your bet if things don’t go as planned.
• Longer playtime: If you get your money back after a loss, it means you can play for longer without having to keep topping up your account.

Why Cryptocurrencies Make Insurance Betting Better

Betting with cryptocurrency comes with some additional perks, especially when it comes to insurance bets. Here’s why:

• anonymity: You can bet without revealing too much personal information, which is a huge plus for privacy-conscious bettors.
• Decentralized trading: Cryptocurrency betting allows for peer-to-peer transactions without going through banks or other third parties, making the transaction process more seamless and efficient.
• Bonuses and Perks: Many crypto sportsbooks offer additional bonuses or perks in addition to insurance bets. You may receive higher payouts or more flexible insurance terms simply for betting with cryptocurrencies.

Best Crypto Sportsbooks Offering Insurance Betting

So where can you actually find these insurance bets? Here are the best crypto sportsbooks that offer this feature:

These sportsbooks make it very easy to access insurance bets, and they are all cryptocurrency friendly, so you are covered even if you prefer to bet with Bitcoin or another cryptocurrency.

How to claim insurance bets at Crypto Sportsbooks

Now that you know where to find insurance bets, here’s a quick guide on how to claim an insurance bet.

• Please read the promotion terms and conditions: First of all, always check the terms and conditions. Each sportsbook has different rules, such as minimum odds, specific sports, or limits on how much you can get back.
• Place your bet: Once you know the rules, place your bets as you normally would. Just make sure you have insurance.
• Activate your insurance: Some sportsbooks automatically apply insurance, while others require you to sign up. Be sure to read the terms and conditions to avoid missing out.
• Wait for the results: If your bet is unsuccessful and you meet the insurance criteria, your refund will usually be processed within a few days and will either be automatically refunded or claimed as a bonus.
• Use your refund: Refunds are often given in the form of free bets or bonus credits, so use them wisely within the time frame specified by the sportsbook.

Pros and Cons of Insurance Betting at Crypto Sportsbooks

As with anything, insurance betting has its pros and cons. To summarize briefly:

merit

• Risk reduction: Even if your bet doesn’t go your way, the chances of losing everything are reduced.
• Boost your confidence: Knowing that you have a safety net can help you take calculated risks.
• Longer betting sessions: You will receive some of your money back, so you can continue betting without having to keep topping up your account.

disadvantage

• limits: Insurance bets often include conditions such as minimum odds or bet type, so not all bets can be insured.
• Victory is not guaranteed: Even if you get a refund, you still lost the bet. Think of it as damage control rather than an outright win.
• Varies by promotion: Some cryptocurrency sportsbooks only offer insurance bets as part of special promotions, so they are not always available.

My thoughts on insurance betting

If you want to be smart in the unpredictable world of sports betting, insurance bets are worth a try when they are at a similar level to the bets you would normally make. Why not have that added value/safety net? It doesn’t guarantee you a win, but it does ensure that your losses won’t be as severe. And when you bet on cryptocurrencies, things get smoother and more rewarding. If you’re already betting on cryptocurrencies or considering switching, insurance bets are a great tool to add to your betting strategy.

So the next time you are betting and feeling a little unsure, remember that the risk doesn’t have to be that high if you have insurance. Sure, you can still lose, but at least you won’t lose everything. And sometimes that’s a win in itself.