Crypto Sportsbooks with Insurance Bets: Your Betting Guide

Ever placed a bet only to see it fall apart in the final minutes? Yeah, we’ve all been there. But don’t worry, insurance bets are here to help. Let me walk you through what insurance bets are, how they work, and why they’re worth considering when you’re sports betting with crypto. Whether you’re new to this or a seasoned bettor, you’ll want to know how these little safety nets can change how you can approach the game.

What Are Insurance Bets?

Think of insurance bets like a safety net. Normally, when you place a bet and it doesn’t work out, you lose your money, right? Well, insurance bets work a little differently. With insurance, if your bet goes south, you can recover part of your wager or, sometimes, even the whole amount.

For example, you bet $100 on Arsenal to beat Manchester United. Arsenal is winning at halftime, but then United makes a comeback, and Arsenal loses. Normally, you’d lose that $100. But with 50% insurance, you’d get $50 back. It’s not a full win, but it’s better than losing everything.

Or say you place a combo bet on Arsenal, Liverpool, and Manchester City all to win. Arsenal and Liverpool win, but City doesn’t. Without insurance, you’d lose the whole $50 you bet. But with combo bet insurance, which covers one failed outcome, you get that $50 back. Not bad right?

When you bet with crypto, the insurance works the same way. You place your bet, and if it loses, you get a refund based on the insurance terms. The only difference is you’re using crypto like Bitcoin, Etherum, or Litecoin, making the process faster and more efficient.

Different Types of Insurance Bets in Crypto Sportsbooks

Not all insurance bets are created equal. There are different types depending on what kind of bettor you are or what sports you like. Let’s run through a few common ones you might come across in crypto sportsbooks.

• Single Bet Insurance:  This covers part of your stake if a single bet loses. You get some of your money back, which help soften the lose
• Combo Bet Insurance: If one selection in your multi-bet (accumulator) loses, you can get a portion of your total stake back. This reduces the risk in bets with multiple parts.
• Quarter/Period Insurance:  If your team is winning after a specific quarter or period but loses the game, this insurance gives you a partial refund, it helps you from losing everything if the game turns around.
• Split Decision Insurance:  For fans of boxing or MMA, if your fighter loses by a split decision (a close,contested loss), you get some of your money back. This eases the impact of a tight defeat.
• Parlay Insurance: If you place a bet on multiple events and one of them loses, this insurance gives you a refund. It helps keep you in the game even if one part of your bet doesn’t work out.
• Bet Builder Insurance: When you create a custom bet with several outcomes on one event, this insurance covers you if one part of the bet fails. You can get a partial refund, making these custom bets less risky.

Why Use Insurance Bets?

So, why should you consider insurance bets? Let’s break down the perks:

• Risk Management: Betting is risky, and no one likes to lose. Insurance bets help manage that risk by providing a safety net. You won’t always lose everything if your bet doesn’t pan out.
• Confidence Booster: Knowing you have insurance can give you a little extra confidence when placing riskier bets. Sometimes, it’s the difference between playing it safe and going for a bold move. 
• Refund on Losses: Depending on the insurance type, you could recover a portion or even the full amount of your bet if things don’t go your way.
• Longer Playtime: If you’re getting money back on a loss, that means you can keep playing longer without having to constantly top up your account.

Why Crypto Makes Insurance Bets Even Better

Betting with crypto offers some added perks, especially when it comes to insurance bets. Here’s why:

• Anonymity: You can place bets without revealing too much personal information, which is a big plus for privacy-conscious bettors.
• Decentralized Transactions: Crypto betting allows for peer-to-peer transactions without the need for banks or other third parties, which can make the process smoother and more efficient.
• Bonuses & Perks: Many crypto sportsbooks offer extra bonuses or perks on top of insurance bets. You might get a higher refund or more flexible insurance terms just because you’re betting with crypto.

Top Crypto Sportsbooks Offering Insurance Bets

So, where can you actually find these insurance bets? Here are some of the best crypto sportsbooks offering this feature:

These sportsbooks make it super easy to access insurance bets, and they’re all crypto-friendly, which means you’re covered if you prefer betting with Bitcoin or any other cryptocurrency

How to Claim Insurance Bets on Crypto Sportsbooks

Now that you know where to find them, here’s a quick guide on how to claim insurance bets:

• Read the Promo Terms:  First off, always check the terms and conditions. Each sportsbook has different rules, whether it’s minimum odds, specific sports, or a cap on how much you can get back.
• Place Your Bet:  Once you know the rules, go ahead and place your bet like you normally would. Just make sure it qualifies for insurance.
• Activate the Insurance:  Some sportsbooks apply insurance automatically, but others require you to opt-in. Don’t forget to read the fine print, so you don’t miss out.
• Wait for the Result: If your bet loses and meets the insurance criteria, the refund will usually be processed within a few days, either automatically or as a bonus you need to claim.
• Use your Refund: Refunds often come as free bets or bonus credits, so use them wisely and within the time frame specified by the sportsbook.

Pros and Cons of Insurance Bets in Crypto Sportsbooks

Like anything, insurance bets come with their own set of pros and cons. Here’s a quick rundown:

Pros

• Reduces Risk: You’re less likely to lose everything, even if the bet doesn’t go your way.
• Boost Confidence: Knowing you’ve got a safety net can help you take calculated risks.
• Longer Betting Sessions: Since you’re getting some money back, you can continue betting without constantly topping up your account.

Cons

• Restriction: Insurance bets often come with terms like minimum odds or bet types, so you can’t just insure every single bet.
• Not a Guaranteed Win: Even though you’re getting a refund, you still lose the bet. Think of it more as damage control than a full-on victory.
• Promo-Dependent: Some crypto sportsbooks only offer insurance bets as part of special promotions, so they’re not always available.

My Take on Insurance Bets

If you’re looking to make smart bets in the unpredictable world of sports betting, insurance bets are worth taking up when they fall in line with bets you would normally take anyway, why not take that added value/safety net? They don’t guarantee a win, but they do ensure that your losses aren’t as harsh. And when you bet crypto, things get even smoother and more rewarding. If you’re already betting with crypto or thinking about making the switch, insurance bets are a good tool to add to your betting strategy.

So next time you’re placing a bet and feeling a little uncertain, remember that with insurance, the risk doesn’t have to feel so high. Sure, you might still lose, but at least you won’t lose everything—and sometimes, that’s a win in itself.