Bitcoin Betting: You Can Now Gamble on the Year End Price of Cryptocurrencies

I guess I should not have been surprised when this one popped into my inbox. Today, a representative of BetDSI,  a wagering platform based in Costa Rica, shot over a note they were taking odds on the year end price of Bitcoin and Ethereum.  Yes, not only can you purchase a crypto and enjoy the speculative rush of it going up. Or going down (yes that can happen). You may now gamble on the future price BTC and ETH on a betting platform. Vegas here we come.

If you are curious (as I was), the odds posted today are as follows:

Cryptocurrency Total Market Cap on December 31, 2017 at 11:59 p.m. ET

Over $135 Billion (-200)
Under $135 Billion (+160)

Bitcoin Total Market Cap on December 31, 2017 at 11:59 p.m. ET

Over $65 Billion (-250)
Under $65 Billion (+200)

Bitcoin value on December 31, 2017 at 11:59 p.m. ET 

Over $10,000 (+275)
Under $10,000 (-325)

Bitcoin value on December 31, 2017 at 11:59 p.m. ET

Over $5,000 (-225)
Under $5,000 (+195)

Bitcoin Cash value on December 31, 2017 at 11:59 p.m. ET

Over $200 (-195)
Under $200 (+175)

Ethereum value on December 31, 2017 at 11:59 p.m. ET 

Over $265 (-300)
Under $265 (+245)

So if you are a crypto gambler neophyte like me, here is how this works.

Moneyline Odds. (Also known as American)

  • Based on a straight single bet without a points spread.
  • If the moneyline is positive, the amount quoted is the amount you would win on a $100 bet.
  • If the moneyline is negative, the amount quoted is what you would need to risk to win $100.

In nutshell, the oddsmakers are pretty bloody bullish that the price of crypto continuing its rocket ride onward and upward. Now I want to read about the price of Tulips in Holland during the 1600s. All this makes makes puts, calls and derivative cocktails look boring. Right?

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