Crypto.com Enters Sports Prediction Betting Market
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Crypto.com is the latest big name site delving head first into the billion dollar sports betting sector.
It's a remarkable piece of news considering many of the major cryptocurrency exchanges frown on using their sites for funding gambling accounts.
For now, the site's offerings will be limited.
From FrontOfficeSports:
The site’s offerings are currently limited to one market: Super Bowl predictions. The site is also not offering traditional spreads or money lines, but prediction markets. For example, the company’s Super Bowl market currently has the Chiefs with the best odds at 23%, meaning putting $23 on the Chiefs would result in a $100 payday if the team wins. Bettors can exit their prediction at any point before the actual event, meaning that if the Chiefs’ odds improve on the market, anyone holding a Chiefs contract at 23% could sell for a profit before the Super Bowl.
The company announced its plans December 23.
The product’s release aligns with Crypto.com’s commitment of expanding its portfolio of regulated trading products. It is also focused on solidifying its presence in the burgeoning event-driven trading market.
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