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?