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How To Earn Money With Bitcoin Games Of Skill

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Written by   1156
1 year ago

Luck Vs. Skill

Is it possible to earn Bitcoin by playing Bitcoin games, even in the long term as a potential job? The short answer is yes, the longer answer is that it's complicated.

It's important to separate out two very distinct types of games, however. There are Bitcoin games that are based on luck and games that are based on skill. By and large, most games that are skill based games will require you to play in a player vs player (PVP) type environment to outsmart your opponents with a better strategy. If you do this in a sustained way over a long enough duration, you'll start to win money. And you can continue making money this way pretty much forever as long as you continue to do a better job than your opponents and the game ecosystem continues to live on.

To determine the difference, most casino games where everything is left to chance you will not be able to win in the long run unless you are very lucky. In the short term, however, anything is possible. The more common examples of this include many normal casino games like roulette wheels and slot games in the live atmosphere or Bitcoin Dice in the online gambling world. However there are a whole host of games that you can pick from that with adequate skill and strategy, where you can over come the house edge and start to win, even in the long run to make a career path out of it.

Bitcoin Skill Based Games

There are many different types of games that you can specialize in. Each may appeal to a different type of player. Perhaps even multiple game types may appeal to you. The important point is to make sure that you have a very sound and solid strategy, one that is simply better than your opponents. This often can require a lot of study and work into a particular game type to understand it very well which can make learning many game types at a high level difficult by diluting your intellectual resources. Nonetheless, the most common types of Bitcoin games that you can possibly earn money at are as follows:

  • Bitcoin Poker

  • Bitcoin Sports Betting

  • Bitcoin Novelty Games

Each of these games have their own pros and cons which we will get to shortly. But if you are talented at any one of these particular game types, the important thing to keep in mind is that you can win long term once you over come the house edge or rake and the opposing skill of your opponents.

Bitcoin Poker

There are many variants of poker out there and there are many ways to approach becoming a professional poker player. Poker has been a long standing game with it's huge growth in popularity in the online scene ever since Chris Moneymaker won the WSOP in 2003 for $2.5 million by qualifying through a satellite entry of only $86. A truly incredible and inspiring story that created a tidal wave of new blood that would then flow into the online poker universe.

With online poker, everything was well and good, mostly, until Black Friday came around and put a complete ban on online poker by the US Government starting April 15th, 2011. This was the start of many governments around the world clamping down on the freedoms and rights of people to engage in the fun and victimless activity of playing a simple card game. Part of the difficulty formerly and certainly after Black Friday of playing online poker had to do largely with the ability of websites to process payments for both deposits and withdrawals.

This has spurred the development and market demand for Bitcoin poker. Bitcoin poker has been able to provide several perks for it's users between quick, fast and reliable deposits and withdrawals to, in some cases, cheaper fees with better promotions and access to higher quality poker games.

And as we mentioned in the professional poker player article recently posted on MintDice, a huge part about becoming a winning and successful poker player has everything to do with playing against weak competition and maximizing your gains when possible be that through study or even through cheaper house rake or higher reward bonuses. And these types of online casino perks tend to happen more frequently when websites are cheaper to run, which tends to be the case for Bitcoin poker games with their reduced payment frictions relative to their fiat-based counterparts.

All in all, Bitcoin poker is an absolutely fantastic way to live a dream lifestyle as an advantage player gambler. It will give you the opportunity to travel the world and scale up to make even millions of dollars per year in winnings if you are good and successful enough. But it will take a lot of disciplined work and study to be able to get there. Plan on hundreds, if not thousands of hours of study and practice to consider yourself a proper poker player and soon enough you'll be a successful student of the game if you want to go down this career path.

Bitcoin Sports Betting

Similar to poker, there are a multitude of ways to approach Bitcoin sports betting. You can gain very fast information about player injuries, player dynamics, coaching decisions, player transfers or a whole slew of ways to calibrate a teams true odds relative to the odds that are posted on a sports book website. You can also take a deep dive in to more niche sports be that more obscure sports like table tennis or more obscure teams in common sports like Latin American soccer teams. By understanding these markets better and more efficiently than the bookmakers can create and sports bettors that place their bets, you will start to win money over time.

It is commonly touted, truly, that a good sports bettor will tend to make an ROI of 2-5% per bet per game. This means that if you were to place $1,000 per bet and place an average of 10 bets per day, you could expect, very roughly, $350 per day in winnings. This daily profit will be subjected to a large amount of variance that will come in the territory of any gambling games where you will have both losing days and winning days, but on average, you will come out ahead over time if you execute everything properly and have a sound strategy.

Bookmakers will typically set a vig-line around what they view as the true odds behind any sporting event. If the book makers think an event, be that either a win/loss or some proposition type bet is 50% to win, they will allow you to book action against this bet but they will only pay out not at a 2x win but at a 1.90x win, for example. This is the built in house edge to sports betting that makes the casinos money. Therefore, you will need to win this bet at least 52.5% of the time just to break even and start winning prediction bets like this at least 55% of the time in the long term to start winning big and to really make it as a professional sports bettor.

Similar to Bitcoin poker, Bitcoin sports betting also has it's advantages over the fiat market. There are notorious liquidity problems and payment processor problems all over the online sports book industry. Bitcoin is one of the systems that is used to help circumvent the transaction-fee heavy and overdrawn system to make it cheaper for everyone involved. This can mean getting better odds on games or better promotional aspects for your bets which in turn will always mean more dollars put back into your pocket. And with razor thin edges of 3% ROI per game as an example, every single little bit helps. Finding just the every so slightly better Bitcoin betting platforms or rewards given out will make a huge difference to you making more money to continue your profession as a professional sports gambler for the long run rather than getting unlucky in the short run.

Bitcoin Novelty Games

Any game that is truly winnable in the long term will often have to be a PvP game that is casino/house commissioned based, often known as rake, similar to poker. Some games that are in theory winnable, like Blackjack, are not sustainable since casinos, online or offline, would not tolerate winning Blackjack players for very long before they would booted from their facility since casinos can't afford to lose money like this.

In PvP environments though, everyone wins. The casino gets their share of the profit by implementing a house edge or rake of some sort, winning players can make a career out of being what is known as an "advantage player" by outsmarting their opponents and recreational players can simply have fun by engaging in a skillful activity with the hope and prayer of striking it rich.

PvP Bitcoin novelty games tend to be fairly underdeveloped since many games of skill these days are very vulnerable to be prone to AI attacks. By having an AI bot simply play on behalf of human players and play the game perfectly, this eliminates any fair play for humans and can make otherwise winnable games very much unwinnable. The most notable example of a game type like this would be chess. By botting chess, machines can completely destroy humans at the game of chess, even the very best players in the world, which makes for a very uninteresting game to play or watch, let alone bet on.

Nonetheless, there are a few game types that either do exist or will exist that are both fun to play and can potentially lead to large winnings. Most notable in the Bitcoin community are what are known as the Bitcoin crash games. It must be stated that only the Bitcoin crash games with the PvP modifier like the one on MintDice are the ones that are beatable. If it is simply a Bitcoin crash game with no PvP modifier then you won't fare much better playing that game than a provably fair Bitcoin slots game for instance. You will still have the potential to win, but likely not in the long term.

There are other games being developed in the space and this is more relevant to the Bitcoin community than other fiat-based games because by reducing the costs in overhead, this means that innovation in this space can occur allowing new games to come to fruition that were formerly impossible to spread. There are some pioneers of these types of activities in the crypto games and blockchain games space. MintDice is also paving the way in the PvP environment with it's releases of Castle Royale and Pyramid, both slated for release in 2021. You will ultimately have to do some of your own research with the plethora of options out there as they come and go to decide which are truly beatable and what strategy you can develop to win at these games.

Last Things To Consider

The important thing about skill gaming is that in the end it all comes down to sample size. By playing a large volume of games, you will reduce your variance and start to ensure winning over time if you are indeed superior to your competition. Secondly, you need to consider if you want to specialize in one specific game type and go particularly hard in any particular segment of the Bitcoin skill gaming market or be a jack of all trades type and take the high value shots at Bitcoin poker, sports betting or games like MintDice's Castle Royale.

By putting in proper volume, you will start to gain an hourly wage. And by increasing your talent at your game(s) of specialization and increasing the amount of games you play and the games' buy-ins, you will start to increase your hourly and yearly take home pay. This can start to lead to lavish lifestyles of freedom that you may have dreamed of where you can set your own hours, work from anywhere in the world and continually strive to improve.

Don't take any of that last paragraph lightly, however. That will take a lot of work and dedication to your craft of choice. But with the hard work, dedication, talent and proper study, you can rise to the top and start earning a lot of Bitcoin through something as fun and entertaining as Bitcoin skill gaming. Best of luck to you adventurer!

This article was brought to you by the MintDice Provably Fair Bitcoin Casino. Originally posted on MintDice.com.

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Written by   1156
1 year ago
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Comments

Thanks for the info that’s a good idea ❤️❤️❤️❤️

$ 0.00
6 months ago

vamos bitcoin crece por favor

$ 0.00
7 months ago

For someone who is just taking his baby steps in the crypto world, faucets and free crypto games are good. The earning is very miniscule, if I may say. But will help you understand nuances while you are educating yourself. For rest of it, stay away unless you really know what you are doing.

$ 0.00
7 months ago

This is really a matter of luck and skills.

$ 0.00
7 months ago

A lot of patience is required to begin with them. However some games are pretty interesting too. Well thanks for acknowledging this

$ 0.00
8 months ago

It really takes a lot of time and experience for someone to start earning because if you are still new or just greed, you'll always lose eventually! So know when to take some profits

$ 0.01
8 months ago

"with the hard work, dedication, talent and proper study, you can rise to the top and start earning a lot" I liked this part much. I don't about the games but I really likes this sentence.. In every condition this sentence is right to explain that!

$ 0.01
8 months ago

Though you have written this artical on Bitcoin and you also know about BCH far more better than me.. I will just say, yoh can write about BCH. You can write about BCH games. And yes luck vs skill will be a bit tough to select one. Because, if you have skill then your will be in favour of you!

$ 0.01
8 months ago

So far, I have earned 1 BCH on Blockchain.Poker, but it took me a year, starting from 0 (100 free chips to 100 000 000) 😊 I do not recommend playing poker unless you are experienced, and skilled, because it is not a game of luck but skills. In the short term, yeah, you can get both, lucky and unlucky, but in the long term, skills will prevail.

$ 0.05
8 months ago

That's actually a pretty neat story, reminds me of myself. And congratulations, I hope you can get to 100 BCH from here!

$ 0.00
8 months ago

Maybe we could play together? I hope to see you there! 😊 I will link your Read.Cash profile to some of the players I know. 🤗

$ 0.01
8 months ago

I'm long since retired... and while poker may come on MintDice at some point, it's at the bottom of the dev list so it wouldn't be added for years.

$ 0.00
8 months ago

Well, once it gets added to MindDice, expect me to be there! 😋

$ 0.00
8 months ago

For is skill because i show your talent there is no equal there

$ 0.00
9 months ago

GOOD JOB nice work to earn more money in BCH or other cryptocurrency convertable

$ 0.00
9 months ago

Great idea for users to play BCH and earn BCH. I will play BCH games after completing my college paper.

$ 0.00
9 months ago

Wow 😍💓

$ 0.00
10 months ago

This is a great idea I wish you had more games tho that are luck based and how likely can one win with those games.

$ 0.01
11 months ago

We have those games as well on MintDice. The house edge is very low, so while the odds are against you, they are more favorable on MintDice than almost any normal casino in the world.

$ 0.00
11 months ago

This is a great article. Thank you for aharing this.

$ 0.00
11 months ago
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$ 0.00
11 months ago
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$ 0.00
11 months ago

Nice and very constructively content of this article. And very well said about SKILLs is the important matter in earning bitcoins especially in playing games. Hope for more informative article contents.

$ 0.00
11 months ago

I have never tried betting with crypto yet. May be it is time for me to test now

$ 0.00
1 year ago

I would advise you not too, because the system is always rigged against the player you will lose more times then you will win. My advice if you want to bet bet on price of crypto sites up or down get it right you gain crypto get it wrong you lose your crypto but it’s more fair and not easy to cheat the system because everyone has access to that data.

$ 0.00
11 months ago

The house always wins. So most of the time there is a false sense of accomplishment that these sites or applications provide and people fall into the trap

$ 0.00
11 months ago

super man heeeeeey

$ 0.00
11 months ago

I have tried so many different types of games, but typically speaking teh betting games rely on your brains want for a dopamine shot so even if you tell yourself (or at least myelf) that you wont make any rash decisoins, playing a cool for three years can build up agitation. best to call it what it is and move on.

$ 0.01
1 year ago

Some people can make careers out of it but not everyone can. And if money is tight and it's not your forte then yes, you should move on, and its good to identify this. Obviously everyone cant win or else it wouldn't be a "game".

$ 0.00
1 year ago

fair enough! there are winners or else it wouldn't exist! =)

$ 0.00
1 year ago

This article is very informative, and it is correct that skill is an important matter when it comes to playing games to earn btc. I hope that you make more articles like this.

$ 0.00
11 months ago

This is a great idea I wish you had more games tho that are luck based and how likely can one win with those games.

$ 0.03
11 months ago

We have games of luck as well with a 1% and 2% house edge. How likely you are to win will depend exactly on the math based on that house edge, which is about the smallest you'll find in the entire world. All games are provably fair.

https://mintdice.com/

$ 0.00
11 months ago

You say there fair but a lot of these games are unregulated and so the creators could easily rig the games to there advantage this is done heavily on loot based games and was criticised on the social media when people found out about it, yet no stops not even activision and trayarch makers of call of duty games, the system is not fair it’s rigged it will let you win to give you confidence but most of the time you will lose. That’s why I have no confidence in online games, the stock market betting is more realistic can’t cheat there lol

$ 0.01
11 months ago

That is incorrect. The games are 100% mathematically provably fair. There is literally no way for us at MintDice to rig the games. As a function of math, it is impossible. Of course, you do have to compete against the house edge, but that has nothing to do about the game's fairness. If you are interested, please read this Wikipedia about the technology MintDice uses:

https://en.wikipedia.org/wiki/Provably_fair

$ 0.00
11 months ago

The game are sometimes not worth it but I do give it some moment

$ 0.00
1 year ago

but sometimes those games is a scam , especially those app can be found on play or app store

$ 0.00
1 year ago

All those apps on play store are scams if it’s loaded with ads most likely it’s a scam, I have no faith in any money making apps they make money from you massive amounts yet when it comes time to pay out there is always a excuse or they lock your account. And I had that happen to me multiple times and it’s frustrating. My advice stay away from android store and look for more legitimate ways online.

$ 0.00
11 months ago

Nice one

$ 0.00
1 year ago

i dont have a big pgone to play these games ,but when i will be able to buy one then i willl play

$ 0.00
1 year ago

I would advise you against it it’s rigged you will lose more times then you win it’s not stable not reliable too much luck and system could be rigged against you and instead bet on crypto market games online instead they are amazing it’s easy you just bet if the price of example bitcoin would go down or up and you place your bets on that it’s so easy and simple do that instead you will thank me in the future:)

$ 0.00
11 months ago

Lucky is just for genius people what else

$ 0.00
1 year ago

Assalamu Alaikum

$ 0.00
1 year ago

গল্পটা খুব সুন্দর

$ 0.00
1 year ago

I don't have any luck what I called in gambling 😜😜😜

$ 0.00
1 year ago

It takes luck as well as skill to earn bitcoin cash, but sadly, I don't have good skills, and I don't have good luck. What else do I have to do !!

$ 0.00
1 year ago

This is an exclusive write up, I learned a lot from tho..

$ 0.00
1 year ago

Thanks, don't want to gamble

$ 0.00
1 year ago

That's great, thanks for the information thought I'm a game lover, it's gonna be a real fun

$ 0.00
1 year ago

I like to play Bitcoin games but I have never play skill based game

$ 0.00
1 year ago

I like this article it sound so beautiful and interesting article

$ 0.00
1 year ago

Nice article thanks for sharing

$ 0.00
1 year ago

Luck games are not my forte. I'll have to work on the skill based games. Hope Bitcoin will have increased in value by three time I'm ready

$ 0.00
1 year ago

is there any game exactly ,where i can play and earn

$ 0.00
1 year ago

Interesting article

$ 0.00
1 year ago

I like to play bitcoin game but i prefer skill based game because of the process of the return

$ 0.01
1 year ago

Wow, this really enlightens, interesting article....... Good job

$ 0.00
1 year ago

Very interesting article

$ 0.00
1 year ago

Very Interesting article

$ 0.00
1 year ago

আমি একটি বিটকয়েন গেইমের মাধ্যমে ইনকাম করার চেষ্টা করছি কিন্তু পারছিনা

$ 0.00
1 year ago

I have never tried a bitcoin game in my life.i will give a try

$ 0.00
1 year ago

I try not success every time fail to earn from game

$ 0.00
1 year ago

This wonderful,I appreciate reading your post

$ 0.00
1 year ago

I try it on time, thank you for sharing it

$ 0.00
1 year ago

It's really very helpful article.... Thanks brother...

$ 0.00
1 year ago

Nice article I wanted to see more update from you

$ 0.00
1 year ago

I try it on time, thank you for sharing it

$ 0.00
1 year ago

The information was heavy loads, I cannot digest directly, that is why I don't bother to play such game because I am unlucky and when it comes to skills I am zero 😂😆

$ 0.00
1 year ago

Nice

$ 0.00
1 year ago

Very nice

$ 0.00
1 year ago

Great platform

$ 0.00
1 year ago

apni onek sundor kore presents koren .Masha allah

$ 0.00
1 year ago

So far never tried that kind of game. I guess it needs a lot of skills to gain more prizes. If not you will lose your crypto... I rather stake my crypto and earn daily interest 😁

$ 0.00
1 year ago

Can you give me the link please.

$ 0.00
1 year ago

Search mintdice.com.. Then you will find it easily

$ 0.00
1 year ago

Search mintdice.com.. Then you will find it easily

$ 0.00
1 year ago

Superb

$ 0.00
1 year ago

Earning not only bitcoin but almost every cryptocurrency is really difficult,you need patience,skill and maybe lady luck to be on your side. But as they say,small amounts once collected can become big amounts so just keep on trying.

$ 0.00
1 year ago

Great informative article

$ 0.00
1 year ago

Betting game is not my forte, I always loss in that game

$ 0.00
1 year ago

I have been losing so much in every bet game I've encountered, to especially mention those "probably fair games". I stopped it already, i am very unlucky on those kinds of staking. Haven't had any thoughts of checking back about it again 😂

$ 0.01
1 year ago

Well, they are truly mathematically provably fair if the site is honest. Some sites (not MintDice obviously) lie about this. But just because they are provably fair that is no guarantee that you will win.

$ 0.00
1 year ago

I've just registered in mintdice, currently checking about it. I'll get back to you later

$ 0.01
1 year ago

Great if you have any questions let me know.

$ 0.00
1 year ago

I think there is something wrong with 2 of your games. Every time i click the "slot" and "plinko" game, it doesn't show up. The only game i saw is the Dice game. And another thing, please add bitcoin cash in the deposit option, the withdrawal fee for btc was around 0.0004 and it's not considerable. 🙏

$ 0.00
1 year ago