Several online sportsbooks that accept government currency feature sophisticated APIs (Application Programming Interface), but unfortunately, only a handful of crypto sportsbooks have ventured into this territory. Previously crypto bettors could count on the BetBTC (review) API but they’ve since closed shop. Fortunately, 2 of the top crypto sports betting sites, Cloudbet (review, American bettors are geo-blocked) and Stake (review, American bettors are geo-blocked) offer APIs.
Crypto betting APIs and bots defined
A crypto betting API allows communication between a user’s computer and a sportsbook or betting application. When using a sportsbook’s API you’re sending the sportsbook service requests, such as a request to check odds, a request to check your balance, and most importantly a request to place a bet. The sportsbook will receive the service request and respond to your computer via the API.
In order to communicate with an API, you’ll need a software program. If the program can place bets automatically then it can be referred to as a betting “bot” as in robot.
Before you’re able to communicate with the sportsbook’s API you’ll need to sign up and retrieve your API key which is your access credential to log in and use the API. You’ll need to include your API key in the code of your program to establish a connection to the crypto sportsbook.
With your program you can code and implement odds gathering and analyzing, a customized interface that streamlines your betting or a fully automated, or semi automated, betting strategy.
Why use betting software
A lot of bettors use APIs to monitor odds. These APIs are great for traders who use price trend modeling, rather than betting knowledge, to predict and take advantage of odds changes.
Betting software can also be valuable for live in-play traders who need to make bets as quickly as possible in order to get a price before the market adjusts and the opportunity is lost. The programs increase the trader’s speed by allowing one-click betting with pre-defined stakes. This is faster than betting through the sportsbooks website where the user must:
- Click on the selection.
- Manually enter the stake.
- Click to make the bet.
- Click again to confirm the bet.
With betting software that can all be done in one click.
Users can even make bets without being at their computers, by setting automatic bet triggers based on predefined criteria. Things such as the price trend, liquidity, score, and amount of time remaining in the game. All of which the betting software gatherers from the data feeds of APIs.
APIs can also be used for price change alerts, betting performance reporting, historical data analysis, stats crunching, and normal betting.
How to find a good API
We’ve taken the guesswork out of finding reliable APIs and list our top picks below. Here is their documentation:
Cloudbet has gone the extra mile with their API offerings. Not only do they provide you with thorough tutorials and documentation to interact with their APIs, but they also provide you with “play euros” to help you test your program.
As previously stated, Cloudbet offer several APIs:
- Cloudbet Trading API – contains navigation data, odds and volumes retrieval, and bet placement operations.
- Cloudbet Feed API – provides access to market data allowing you to subscribe to and efficiently track changes to the available bets, odds, as well as structuring your betting data.
- Cloudbet Account API – contains account related operations such as the ability to retrieve your available account balance and other account information.
Stake have been reluctant to offer it publicly on their site citing safety concerns. After logging in you’ll be able to generate an API token from your account settings.
You’ll be able to utilize the same features available at Cloudbet but there’s no documentation on how to interact with the API. However, since Stake is powered by the API, you can reverse-engineer the API by examining the requests made by the website.
It’s important to note that since the Stake API is primarily intended to be used by their website they may make changes without warning that break your program.
How to get an API to work
The best way to get a betting program to work with a sportsbook’s API is to write one yourself or hire a coder to do it for you. If you go to the marketplace only consider a program that will give you a free trial or let you pay monthly subscription fees rather than lump-sum payments.
Stay well clear of companies that push market computer-modeled betting software or trading tools, and betting syndicates that say they will get you guaranteed profits. These are scammers who prey on gullible people. You can read about some typical sports betting scams at the Australian government-run scam watch website.