But it's biased contest with lot of politics inside. Many just vote for their neighbour countries and friebds, not for the song.
That is why they introduced jury voting some years ago in addition to televoting and both count 50% each. It makes for a fairer competition in the end, but of course you still have a lot of neighbouring countries giving each other points. And then you have certain countries always getting a lot of points from country XY, because of some huge diaspora there. Romania always got a lot of points from Spain because of that for example.
I wouldn't always call it politics though, if neighbouring countries give each other points. Often times these countries have cultural similarities and thus also tend to like the same style of music. The Ex-Yugoslavian countries for example often exchange points among themselves. They are attached to some musical elements which is typical in these countries and so it's not surprising, that Croatians often like the serbian entry and vice versa.
The 2007 winner from Serbia, Marija Šerifović with the song Molitva, didn't catch me at all, but was very well liked in Ex-Yugoslavian countries (and lots of other countries). Different countries, different music
Is this event got covered or featured by some of the popular crypto-gambling betting sites before?
I am not sure about this, but there are enough crypto bookmakers being present in this forum, so you could ask them, if they are willing to add some market(s).
Kind of OT but I can't believe that out of 41 countries, our country, that is known for being involved in the music industry and music events, locally and internationally are not taking part in this.
Yes, its "EURO" but there are other participants outside Europe.
EDIT: my bad! I misread "Austria" into "Australia".
Europe and Eurovision are not the same
You have quite some non-european countries taking part in ESC (Israel, Armenia, Georgia, Azerbaijan, Australia), taking part in the past (Morocco) or maybe wanting to take part in the future (Kazakhstan).
It’s the same like in UEFA football, where you have non-european teams playing in UEFA competitions as well (the above mentioned apart from Australia and Morocco).