Placing futures bets with BTC

[pinnerpsk]

I placed a bet with a bitcoin book a few months ago on the Blazers to win the Northwest Div. I think it was at 18-1 when i placed the bet. At the time, the amount I bet was worth about $150. Now it's valued at $500 or so.


So this bet got me thinking, how can these books handle the payout on futures bets like this if BTC continues to go through the roof? Let's say 1 year ago someone put 5 btc on England to win the 2018 World Cup at 20-1 odds. If England won the payout would be enormous because of the huge rise in btc since then.

[TheMoneyShot]

It's the same concept of you wagering more than you should of....

For instance... maybe you wanted to only risk a flat $150.... but you actually wagered $500 in BTC conversion.


The future's are already listed at the time of the wager. There isn't any change. You get exactly in BTC that you wagered on.

[littlekona]

guys that entered the Nitro NFL Survivor guaranteed BTC pools and are still left are looking at a HUGE bonus with BTC up so much....Also guys I see in exchanges like Fairlay too that did futures on year ends like Trump ect getting big bonus...Also the Nitro poker GTD MTT getting monster boost..Nice!

[raiders72001]

My Nitrogen baseball futures are worth a lot more because it was made in bitcoin. I won a 1 BTC survivor pool at bitcoinrush.

[pinnerpsk]

It's the same concept of you wagering more than you should of....

For instance... maybe you wanted to only risk a flat $150.... but you actually wagered $500 in BTC conversion.


The future's are already listed at the time of the wager. There isn't any change. You get exactly in BTC that you wagered on.

Hey Money, I made my futures bets with btc, no cash. Therefore my bet amount has gone up quite a bit since then.

I just think books have huge exposure on some of these futures bets.