 SBR Top-Rated Sportsbooks |
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| #1 FanDuel | SBR rating 4.8/5 | Review | #6 BetRivers | SBR rating 4.1/5 | Review | #2 Caesars | SBR rating 4.7/5 | Review | #7 Fanatics | SBR rating 4.1/5 | Review |
| #3 DraftKings | SBR rating 4.7/5 | Review | #8 Betway | SBR rating 3.8/5 | Review | ||
| #4 BetMGM | SBR rating 4.6/5 | Review | #9 Borgata | SBR rating 3.5/5 | Review | ||
| #5 bet365 | SBR rating 4.6/5 | Review | #10 ClutchBet | SBR rating 2.9/5 | Review | ||
where do books get their bitcoins from
aside from players they have to get it from somewhere because not everyne depsoits bitcoin...do they have a special service or something? for example a book like dsi or betonline is paying out massive ammounts of BTC every dau and reciving deposits from multiple different sources
I assume some come from player deposits and others come from converting fiat.
The smart books are likely hedging on the BTC price too. You don't want to take in $1 mil of BTC deposits when 1 BTC = $1,000 USD and then watch the price crash to $750 overnight... then you're out $250k!
I don't think they even need to convert the BTC back to USD to hedge. Can you get put options for BTC?
Yes, but futures would be a better hedge if you had to hold, and didn't want directional exposure. They have those as well.Originally Posted by pokerdevil
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I'm kind of confused . So how would they get millions of dollars of bitcoins to payout . Do they buy from a special website obviously Coinbase would insta ban lol
There are unregulated exchanges based outside the U.S.
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pokerdevil gave Waterstpub87 5 Betpoint(s) for this post.