Posted in: Archive
April 12, 2014 12:50 PM UTC

Win Bitcoin by Creating a Good (Baseball) BitBet

Author: Gordon Hall

The Bet

Major League Baseball season is getting underway in America. If you’re a fan of the sport, you’re sure to hold some expectations for the performance of your favorite teams and players. So why not make this season even more exciting by winning Bitcoin if it plays out like you hope?
The best part is BitBet are letting you take your chosen bet for free. If your bet’s a popular one and plenty of people take the other side, you stand to win a bunch of bitcoins for no risk. The best bet is always one you can’t lose.

What’s the Catch?

First, your bet needs to be accepted by BitBet. Here are some guidelines to creating a good bet.
Second, you can’t choose your side of the bet. The mods will put you on whichever side they deem least likely. Here’s where your knowledge or hunch comes into play.

There’s always a catch.

Example Bets

BitBetter BingoBoingo be betting Bitcoin on baseball. He describes the following four existing MLB bets as follows:

American League team will win the MLB World Series

Basically MLB has two components, the American League which sucks donkey dick and the National League which smells funny. One team from each league competes in the World Series. Early in the season grading something like this is a coin flip, as the season goes on and home field advantage is decided in the All Star Game there may be well founded reasons to favor one over the other. This is as close to a canonical example of a great season long bet as may be found.

New York Yankees to win the 2014 MLB World Series

This is another good and solid season long bet. Thanks to deep pockets that can afford the Yankees to consistently field competitive rosters they can normally be considered credible contenders at the beginning of the season, and are frequently still competitive late in the season. This model doesn’t work for every team though. If say you want to write a bet where “Yes” is the Marlins win the World Series BitBet probably would not accept it unless you contribute some of your own coin on that unlikely outcome.

The Boston Red Sox to win more than 90 games

The humble team proposition bet. There are 162 games in the MLB season. A 100 win season is exceptional. A 81 win season is disappointingly average. A 90 win season is about par for a team that makes the playoffs. This bet is a decent proxy for the Boston Red Sox making the playoffs.

Masahiro Tanaka wins more than 15 games

The single player proposition bet. Masahiro is a hot new pitcher coming over from Japan. A win is a pitching statistic. An Ace accomplishment is a 20 win season. An 8-10 win season means you probably get to keep your job. A 15 win season is disappointingly good, either your offense failed you or you could have just not hung that breaking ball in the zone those few extra times.

Not Just Baseball

According to the rules, you can create any kind of bet. In other words, a bit of thought could lead to a lot more free bitcoin than clicking faucets and filling out captchas.
Baseball is a little under-represented right now, so bets in that category probably have a better shot at approval. There are also plenty of existing bets on Bitcoin, markets and sports if you’d like to try your luck.