Home / How Betting Odds Work in Crypto Sportsbook

How Betting Odds Work in Crypto Sportsbook

Crypto betting odds show you two things: how much you can win from a wager and how likely a sportsbook thinks each outcome is. Whether you're backing an underdog or a heavy favorite, understanding how to read betting odds is key to spotting value and placing smarter bets.Read more

In this guide, we explain how crypto betting odds work, break down the most common odds formats, and show you how to calculate implied probability, the percentage that reflects how likely an outcome is, according to the sportsbook.

You’ll also find a betting odds conversion table to help you compare prices across crypto sports betting sites worldwide.Read less

Published
Patrick Lynch
Published
By Patrick Lynch
Verified by Roberta Romani

Understanding Crypto Betting Odds

Odds serve two main purposes in sports betting:

  • Show potential payout: Higher odds = bigger potential return.
  • Reflect implied probability: How likely the sportsbook thinks the outcome is.

Crypto sportsbooks calculate odds by analyzing a range of data and building in a margin to ensure long-term profit. Key factors include:

  • Team and player performance
  • Injuries and suspensions
  • Historical stats and head-to-head results
  • Public sentiment and betting volume
  • Home-field advantage
  • Environmental conditions (weather, altitude, etc.)

Shorter odds indicate a higher probability of success but offer lower returns. Longer odds reflect a lower chance of success but come with higher potential payouts.

Common Types of Crypto Betting Odds

For simplicity, all examples use USDT. The same math applies whether you’re betting with BTC, ETH, LTC, or even fiat currency.

Decimal Odds (European)

Widely used on crypto sportsbooks with global user bases. Decimal odds show your total return per unit wagered (including your stake).

Example:

Odds of 2.50 mean you receive 2.50 USDT for every 1 USDT bet (includes your original stake).

Formula:

ProfitStake × (Decimal Odds − 1)

American Odds (Moneyline)

Common in the U.S. and supported by many crypto sportsbooks.

  • Positive odds show how much you can win on a 100 USDT stake.
  • Negative odds show how much you must stake to win 100 USDT.

Examples:

  • + 200: Bet 100 USDT to win 200 USDT
  • -150: Bet 150 USDT to win 100 USDT

Formulas:

  • Positive odds: Profit = Stake × (Odds / 100)
  • Negative odds: Profit = Stake / (|Odds| / 100)

Fractional Odds (UK)

Common among UK sportsbooks, these odds show profit relative to stake.

Example:

Odds of 5/1 (“five to one”) mean you win 5 USDT for every 1 USDT wagered (total return: 6 USDT).

Formula:

Profit = Stake × (Numerator / Denominator)

Hong Kong Odds

Similar to decimal odds but only show profit, not the total return.

Example:

Odds of 1.50 mean you win 1.50 USDT for every 1 USDT bet. Total return = 2.50 USDT.

Formula:

Profit = Stake × HK Odds

Malaysian Odds

Based on implied probability and similar to American odds, but expressed as decimals between -1.00 and +1.00.

  • Negative odds: Indicate a favorite. Show how much you must stake to win one unit.
  • Positive odds: Indicate an underdog. Show profit per unit staked.

Examples:

  • −0.50: Bet 0.50 USDT to win 1 USDT.
  • +0.50: Bet 1 USDT to win 0.50 USDT.

Indonesian Odds

Similar to American odds, but in decimal format based on a 1.00 base.

  • Positive odds: Show profit per unit staked.
  • Negative odds: Show how much you must stake to win one unit.

Examples:

  • 1.50: Bet 1 USDT to win 1.50 USDT.
  • −2.00: Bet 2 USDT to win 1 USDT.

How to Calculate Implied Probability

Once you understand how odds formats work, the next step is to calculate what they imply about the chance of an outcome happening. This is called implied probability. It’s the percentage chance that a bet would need to succeed for it to break even.

If your own estimate of success is higher than the implied probability, the bet may offer positive expected value.

Implied Probability Formulas:

Decimal odds

Implied probability = 1 / Decimal Odds × 100

American odds

  • Positive odds (e.g., + 150): 100 / (Odds + 100) × 100
  • Negative odds (e.g., – 150): IOddsI / (IOddsI + 100) × 100

Fractional odds

Denominator / (Denominator + Numerator) × 100

Implied Probability Example (American Odds):

Suppose a crypto sportsbook offers odds of +150 on Team A.

To find the implied probability:

= 100 / (150 + 100) × 100 

= 100 / 250 × 100 

= 40%

If your own analysis suggests Team A has a 50% chance of winning, then the bet may represent good value. The sportsbook implies a 40% chance, but you believe it’s higher.

Betting Odds Conversion

All odds formats express the same idea: how likely the sportsbook thinks an outcome is. The table below shows how each format corresponds to the same implied probability.

Implied Probability Decimal Odds American Odds Fractional Odds Hong Kong Odds Malaysian Odds Indonesian Odds
95% 1.05 -1900 1/20 0.05 -19.00 -19.00
90% 1.11 -1000 1/10 0.11 -10.00 -10.00
80% 1.25 -400 1/4 0.25 -4.00 -4.00
66.7% 1.50 -200 1/2 0.50 -2.00 -2.00
50% 2.00 +100 1/1 (evens) 1.00 +1.00 +1.00
40% 2.50 +150 3/2 1.50 +0.67 +1.50
33.3% 3.00 +200 2/1 2.00 +0.50 +2.00
25% 4.00 +300 3/1 3.00 +0.33 +3.00
10% 10.00 +900 9/1 9.00 +0.11 +9.00
5% 20.00 +1900 19/1 19.00 +0.05 +19.00

Conclusion

Now that you know how to read and interpret betting odds, you’re in a much better position to identify value and make smarter plays at your favorite crypto sportsbook.

As you explore our list of the best crypto sports betting sites, take time to practice reading and comparing odds. Understanding how betting odds work isn’t just about knowing what your payout might be, it’s about reading between the lines. Over time, you’ll see things you were not aware of before, increasing the possibility of long-term success.

Top Rated Bitcoin & Crypto Sportsbooks

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    #2

    Vave

    4.97 / 5
    Opened in 2022
    promotions
    100% up to 4 BTC + 100FS
    Coins
    Bitcoin Ethereum Tether Dogecoin Litecoin 85
    #3

    Bets.io

    4.48 / 5
    Opened in 2021
    promotions
    Up to 1 BTC Welcome Package + 100 Free Spins
    Coins
    Bitcoin Ethereum Tether Dogecoin Litecoin 505
    #4

    ThunderPick

    4.87 / 5
    Opened in 2017
    promotions
    Up to 2000 EUR Welcome Package
    Coins
    Bitcoin Ethereum Tether Dogecoin Litecoin 5
    #5

    Crypto Games

    4.09 / 5
    Opened in 2023
    promotions
    Up to 20000 USDT Welcome Package
    Coins
    Bitcoin Ethereum Tether USD Coin Ripple 5
    #6

    BetPlay

    3.95 / 5
    Opened in 2020
    promotions
    Up to 50000 MBC Welcome Package
    Coins
    Bitcoin Ethereum Tether Dogecoin Litecoin 7
    #9

    Kripty

    3.93 / 5
    Opened in 2024
    promotions
    Up to 2250 USDT Welcome Package + 90 Free Spins
    Coins
    Bitcoin Ethereum Tether Binance Coin USD Coin 6
    #10

    BetWhale

    3.80 / 5
    Opened in 2023
    promotions
    Up to 1250 USD Welcome Package
    Coins
    Bitcoin Ethereum Tether Binance Coin USD Coin 6

    Short Reviews of Top Crypto Sports Betting Sites

    1. Jackbit

    4.98 / 5
    Jackbit

    Jackbit easily earns its place among the best crypto sports betting sites, thanks to its high-quality platform and expansive sports coverage.

    This sportsbook allows seamless switching between multiple odds formats and operates with lower odds margins than many other crypto bookmakers we've reviewed. While its welcome bonus for sports bettors could be more generous, Jackbit makes up for it with an extensive range of pre-match markets, plenty of in-play betting opportunities, and a seamless user experience.

    Jackbit supports more than a dozen cryptocurrencies, including altcoins like Dai, Shiba Inu, and Tron, making it a strong choice for crypto bettors looking for flexibility and performance.

    Pros:

    • Covers 30+ sports, including niche and lesser-known markets

    • Excellent range of pre-match and live betting options

    • Competitive odds with low bookmaker margins

    • Wide crypto support, including altcoins, memecoins, and stablecoins

    • Low wagering requirements on the welcome bonus

    Cons:

    • NetEnt casino games unavailable in the U.S. and some other regions

    • Customer support response times can be slow

    • The welcome bonus is smaller compared to some rivals

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 13
    Languages
    • English
    • Russian
    • Spanish 5
    Licenses
    • Curaçao
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 18
    Number of casino games
    7000
    Support languages
    • English
    • French
    • Russian 1

    2. Vave

    4.97 / 5
    Vave

    Sports bettors who enjoy exploring lesser-known markets will love Vave. Few crypto sportsbooks offer as many pre-match markets for a single event. We’ve seen soccer matches with over 1,000 betting options!

    We also appreciate that the site has six odds formats, which you can switch between with a single click. Vave also offers one of the most generous crypto sportsbook bonuses, worth up to five figures.

    Ideally, the Vave sportsbook would be easier to navigate, but once you get used to it, you’ll soon grow to love the extensive sports selection, incredible market variety, and competitive odds.

    Pros

    • A fantastic range of pre-event markets

    • One of the most generous welcome bonuses among crypto sportsbook

    • Easily switch between six different odds format

    • Competitive odds that offer better value than many other sites

    • Supports dozens of cryptocurrencies

    Cons

    • Navigation could be more intuitive

    • Limited ongoing sportsbook promotions

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 87
    Languages
    • Finnish
    • German
    • Japanese 15
    Licenses
    • Costa Rica
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 18
    Number of casino games
    13004
    Support languages
    • German
    • Japanese
    • Italian 9

    3. Bets.io

    4.48 / 5
    Bets.io

    There’s an exceptional range of sports, events, and markets on Bets.io, and this crypto sports betting site makes it easy to find whatever you need. We found that we were never more than a couple of clicks away from any betting market.

    Bets.io rewards regular sports bettors with several deposit bonuses and an innovative “Hunting Bonus” that gives you a free wager based on your average bet size.

    We have heard reports that the site sometimes restricts the size of wagers on the sportsbook, although we didn’t encounter any issues. If you like to plan your bets, the Bets.io schedule is a must-read for players who want to know when specific events are set to begin.

    Pros

    • Offers thousands of markets on dozens of sports

    • Easy to navigate despite the massive selection of events

    • A useful collection of ongoing sports betting promos and bonuses

    • Supports a phenomenal array of cryptocurrencies

    • The site’s schedule is ideal for bettors who love to plan

    Cons

    • Potentially reduces maximum bet limits over time

    • Unavailable to players in dozens of countries

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 507
    Languages
    • English
    • German
    • French 8
    Licenses
    • Anjouan
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 17
    Number of casino games
    9768
    Support languages
    • English

    4. ThunderPick

    4.87 / 5
    ThunderPick

    We like that this platform isn’t afraid to offer long odds selections on certain events. While some crypto sports betting sites reduce their liability with shorter odds, Thunderpick gives you the chance to win big… if you can get your predictions right!

    The odds on the Moneyline in ‘major’ sports leagues aren’t always the most generous, but you can find value in alternative markets.Thunderpick is also a fantastic option for fans of electronic sports, as it has a superb eSports category alongside its 20+ sports and politics markets.

    Its blog is a treasure trove of information for eSports enthusiasts, offering great advice on different games while providing details on upcoming tournaments.

    Pros

    • Plenty of long odds betting opportunities

    • Covers all of the most important sports, plus a few less common options

    • Offers some worthwhile promotions

    • Outstanding eSports selection and related blog content

    • Extremely fast withdrawals on average

    Cons

    • While there is value in longer odds markets, the prices on popular markets are tight

    • It takes a while to get used to the site’s structure

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 7
    Languages
    • English
    • Chinese (Mandarin)
    • French 5
    Licenses
    • Curaçao
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 17
    Number of casino games
    5941
    Support languages
    • English

    5. Crypto Games

    4.09 / 5
    Crypto Games

    Crypto Games is among the easiest crypto sportsbooks to navigate, which is ideal in the world of sports betting where every second can make a difference between winning and losing.

    There’s also a generous welcome bonus and two subsequent deposit bonuses, not to mention a Level Up program with a high percentage of rakeback at the top end. We also love the Turbo Combos, which offer readymade parlay bets at big odds.

    However, we didn’t like the limited customer service availability; live chat agents are only accessible for nine hours a day, although there is an FAQ section that answers many queries.

    Pros

    • Navigation is straightforward and hassle-free

    • Offers several deposit bonuses

    • The wagering requirements decrease with each deposit bonus

    • The sportsbook’s odds are extremely competitive

    • The Turbo Combo feature saves you time when finding suitable parlay bets

    Cons

    • Customer service is only available part-time

    • Fewer available sports than some of its competitors

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 7
    Languages
    • English
    • Spanish
    • Italian 8
    Licenses
    • Costa Rica
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 21
    Number of casino games
    6641
    Support languages
    • English

    6. BetPlay

    3.95 / 5
    BetPlay

    If you want fast access to a superb range of in-play betting markets, we wholeheartedly recommend BetPlay. When it comes to sports like soccer, tennis, and eSports, in particular, this crypto sportsbook excels regarding live wagering opportunities.

    Its overall sports selection is also impressive, with markets on sports like wrestling, sumo, and Formula E racing, not to mention a horse racing category featuring events from all over the world.

    Unfortunately, BetPlay doesn’t offer many bonuses for sports bettors, but the selection of markets and events makes this site a top choice for serious players.

    Pros

    • Outstanding in-play betting selection

    • Offers markets on dozens of sports, including quite a few unusual options

    • Supports cryptocurrencies like Toncoin and Solana along with the best-known coins

    • The site is available in 10 languages

    • Terrific user experience for mobile users

    Cons

    • Access to the sportsbook is restricted in several countries

    • Sportsbook bets don’t count towards the welcome bonus wagering requirement

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 9
    Languages
    • English
    • German
    • Spanish 7
    Licenses
    • Costa Rica
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 18
    Number of casino games
    6575
    Support languages
    • English
    • French

    7. TrustDice

    4.23 / 5
    TrustDice

    The sports selection at TrustDice includes options you’ll seldom find anywhere else, such as pesapallo, alongside popular leagues like the UEFA Champions League in soccer and the NFL in American football.

    We like the multi-bet challenge, which offers prizes for successful parlays, and we appreciate the easy-to-navigate site, with the purple background making the markets and odds highly visible.

    While the initial welcome bonus of risk-free wager isn’t particularly generous, TrustDice is a stellar crypto sportsbook with much to offer.

    Pros

    • An exceptional range of sports to wager on

    • User-friendly interface

    • Includes a tournament for players who like to make parlay wagers

    • Access to a chat room once you earn enough VIP points

    • Sportsbook promos such as enhanced win odds

    Cons

    • Geo-restrictions limit the site’s accessibility

    • A disappointing welcome bonus on the sportsbook

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Litecoin 6
    Languages
    • English
    • Chinese (Traditional)
    • Russian 21
    Licenses
    • Curaçao
    Casino products
    • Baccarat
    • Bingo
    • Blackjack 16
    Number of casino games
    8465
    Support languages
    • Thai
    • Arabic
    • Persian 18

    8. Wild.io

    4.19 / 5
    Wild.io

    If you can’t find a sport to bet on at Wild.io, it’s probably because it doesn’t exist! We were thrilled to see an array of unique sports, including pelota, curling, and snowboarding, which you won’t typically find on most crypto betting platforms.

    For parlay enthusiasts, Wild.io’s “Comboboosts” offer exciting bet boosts ranging from 50% to 100%, covering both traditional and electronic sports to maximize your potential winnings.

    The sheer number of betting options might overwhelm newcomers, but for experienced bettors looking for variety and competitive crypto odds, Wild.io is a platform well worth exploring.

    Pros

    • Huge selection of sports, including niche options

    • Generous bet boosts for parlays

    • Competitive odds compared to other crypto sportsbooks

    • Effortless navigation between different sports

    • High withdrawal limits for large payouts

    Cons

    • The vast selection may be overwhelming for new users

    • The welcome bonus is relatively small

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 7
    Languages
    • English
    Licenses
    • Curaçao
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 21
    Number of casino games
    3900
    Support languages
    • English

    9. Kripty

    3.93 / 5
    Kripty

    Kripty, established in 2024 and regulated under the jurisdiction of Curaçao, is managed by MIBS N.V. Offering anonymity and cryptocurrency play, it caters to a global audience.

    The platform features over 5,000 games including hits from Evolution, NetEnt, and Pragmatic Play among others. Provably fair games ensure a transparent gaming experience.

    The sportsbook presents a wide range including Soccer, Basketball, eSports games like Counter-Strike, and many more. It provides comprehensive betting options across various sports.

    Payment methods at Kripty include multiple cryptocurrencies such as BTC, ETH, and USDT, ensuring quick and secure transactions for its users.

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 8
    Languages
    • English
    • German
    • Spanish 7
    Licenses
    • Curaçao
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 21
    Number of casino games
    5454
    Support languages
    • English

    10. BetWhale

    3.80 / 5
    BetWhale

    We’ve included BetWhale on our list due to the generosity of its welcome bonus. It’s one of the few crypto sports betting sites that offers a bonus greater than the value of your initial deposit.

    BetWhale is ideal for anyone who loves North American sports leagues like the NFL, and NHL. Furthermore, its odds are supplied by sportsbooks in Vegas, so you should regularly find fair prices on your favorite events.

    The site requests a lot of personal details when you register. However, if this doesn’t bother you, BetWhale is an excellent option, whether you want to wager on American or global sports leagues.

    Pros:

    • Generous welcome bonus for sports bettors

    • Uses Vegas sportsbook odds

    • One of the best platforms for North American sports betting

    • The racebook features racing from courses worldwide

    • Strong security measures, including 256-bit SSL encryption and anti-virus protection tools

    Cons:

    • Requires identifying information during registration

    • Limited cryptocurrency options for withdrawals

    Cryptocurrencies
    • Bitcoin
    • Ethereum
    • Tether 8
    Languages
    • English
    Licenses
    • Comoros Gambling License Authority
    Casino products
    • Slots
    • Video Poker
    • Live Dealer 21
    Number of casino games
    1800
    Support languages
    • English

    Top 10 Crypto Sportsbooks

    1. Jackbit 
    2. Vave 
    3. Bets.io 
    4. ThunderPick 
    5. Crypto Games 
    6. BetPlay 
    7. TrustDice 
    8. Wild.io 
    9. Kripty 
    10. BetWhale 
    Patrick is a seasoned writer with over a decade of experience in online gambling, specializing in research-driven content and expertise in statistical data analysis. His deep understanding of the mathematical aspects of casino betting and sports gambling makes his work both detailed and informative. Patrick has contributed to leading platforms like Race Advisor and Football Advisor. With a Master’s Degree in Literature and Publishing, and two completed works of fiction, he continues to pursue his dream of becoming a bestselling novelist.
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