Will you gamble on Bitcoin ETF approval results? - page 5.

Wexnident

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Quote from: Fiatless on January 05, 2024, 06:24:58 AM

A Polygon-based gambling site allows gamblers to gamble on the outcome of the spot Bitcoin ETF application by some investors. Gamblers are required to choose Yes” or “No” bets on whether the Bitcoin ETF applications will be approved or not. According to a report about $1.5 million worth of bets have been placed and bettors are patiently waiting for SEC's decision. From reports it seems that the majority of gamblers believe that the SEC will approve so the majority of them choose yes.

I know that there are diverse bets on unconventional events like Miss World, the US election and even wars. But this one is new and I just want to know if you will be comfortable betting on the spot Bitcoin ETF.

https://cointelegraph.com/news/bitcoin-etf-approval-results-gambling-reddit-community

Probably wouldn't, sounds rather boring. I've betted on Miss world before so I have experience with these kinds of bets. As for the US election I think I just watched the bet itself happen? Didn't have enough money sadly. Those two were much more fun to watch really, has more "oomph" to it if I were to describe it. Waiting for the SEC to make a decision on the other hand... well, sounds really boring. And while I myself am waiting for what the results would be, betting itself would be another thing.

Solosanz

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Why I need to gamble on manipulation, SEC can approve today and then decide to cancel it or ban Bitcoin, who knows right? centralized institution is fan of ban and unban laws.

Gambling in ETF approval is pretty much similar like you trade in futures whether you take short or long position.

Quote from: $crypto$ on January 05, 2024, 07:11:10 AM

even saying in the article someone will lose a lot of their grandchildren's school money just betting on a spot bitcoin ETF that will be approved YES or NO.

That's a gambling addict, he doesn't follow the rule "only gamble what you can afford to lose".

TravelMug

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Quote from: ryzaadit on January 05, 2024, 07:23:38 AM

No, there is no fun on there.

I rather bet on Sportbet rather than betting on these type game. At least, even you're losing still enjoying the match rather than these waiting some news with just a few mins after they tell us ~XD.

Sportbet still most recommended things.

Why not? If you can win big money like in sports betting, then there will be fun on this kind of bet. I haven't click on the link yet and so it's interesting what will be the odds this time so that we can decide which win to bet.

Maybe this will be out on our favorite sports betting site and who knows, maybe crypto gamblers are waiting for this kind of games as well.

Anyhow, just gamble what we can afford to lose and in the end it's up to us whether we are willing or not.

ryzaadit

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No, there is no fun on there.

I rather bet on Sportbet rather than betting on these type game. At least, even you're losing still enjoying the match rather than these waiting some news with just a few mins after they tell us ~XD.

Sportbet still most recommended things.

robelneo

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This is a time-based bet

Quote

According to Polymarket, the market will resolve to “Yes” if any spot Bitcoin ETF receives approval from the SEC by Jan.15, 2024, at 11:59:59 pm Eastern Time. Otherwise, this market will resolve to “No.” This means holders of either bets will see their earnings or losses by the deadline set.

And there's a possibility that the no will win the bet if there is no decision comes out on that specific date Jan.15, 2024, at 11:59:59 pm Eastern Time, and to back it up there's one article here, and it quoted Markus Thielen, head of research at crypto financial services firm Matrixport

Quote

“While we have seen frequent meetings between the ETF applicants and staff from the SEC, which resulted in the applicants refiling their applications, we believe all applications fall short of a critical requirement that must be met before the SEC approves,” Thielen writes. “This might be fulfilled by Q2 2024, but we expect the SEC to reject all proposals in January.”

BTC ETF watch: Crypto firm Grayscale just gave a major sign that SEC approval is imminent

So if the opinion is accurate it will not be approved this January but it may be eventually approved later but not this January, ETF decision is so important that the casinos have come up with the betting for community awareness.

$crypto$

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If it was a Polygon based betting site then I wouldn't be betting and lazy making there this is not a game I want but they are doing an over the top joke, even saying in the article someone will lose a lot of their grandchildren's school money just betting on a spot bitcoin ETF that will be approved YES or NO.

If there was a casino that provided this I would probably put YES believing that the spot ETF would be approved.
Again, this is not unusual but people are quite curious what the SEC decides later there may be intentions where they can profit or lose.

I'm sure casinos won't offer this bet.

_act_

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Quote from: Gozie51 on January 05, 2024, 07:00:29 AM

Surely, I believe some gamblers would consider betting on the bitcoin ETF if the odds are good.

I can not waste my time on what I do not know when it is going to be approved. SEC has let people know that it is going to be approved but SEC do not let anyone know if the approval day is near or some months from now. There are games I can play and see the result almost immediately, I will prefer to go for that kind of games than wasting my time on bitcoin spot ETF approval.

Ruttoshi

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I wouldn't place my bet on people's determination, especially this one which is the approval of spot ETF. This is because this approval issue didn't start today but it has being since onset, about SEC approval of spot ETF and it didn't come to pass. Gamblers can bet on any event of their choice as long as money is involved, and gamblers uses everything they see as an opportunity to gamble for profit.

I don't like to bet on these type of events where my skill wouldn't be put in use, but a guess work. Instead of this, I will gamble on slot machines. I love watching and having fun when betting and I don't see this kind of bet entertaining.

Gozie51

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Of course I have seen different types of bets in these days casino catching up with the latest global activities in bets and that is really making the gaming industry attractive with buzz going on in social media and traditional. We just witnessed the last miss world in bets, we have had the US election also and probably going to witness another of it in their next election. I think we would have also witnessed the "ceremonial" boxing bout between Elon musk and Mark Zuckerberg if it happened. And now the bitcoin ETF is about to go live on bet but the challenge is that not most of the casino activate such betting options and that limit some gamblers the opportunity to stake in them because they may not desire to start a new registration with the casino having the option just for such reason, a one day event that would discontinue for longer time to come. Surely, I believe some gamblers would consider betting on the bitcoin ETF if the odds are good.

danherbias07

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I will wait for my trusted casino to also input this kind of bet.

And I am betting on a "Yes", too. I believe Bitcoin ETF will be approved but time will only tell. The SEC could keep on declining the ETF application but there's nowhere to run, they are just trying to prolong the inevitable. A lot of supporters of cryptocurrencies are already pushing this to happen and even their own government's senators are supporting Bitcoin as a currency. I think it will just be a matter of time before this happens. Maybe in the first quarter of this year, we will already see it listed as an ETF.
But I also read some rumors/predictions that if this approval gets longer, there's a chance Bitcoin will fall. Well, I seriously doubt that. That bet of "Yes" already tells how many are optimistic that it will be approved.

piebeyb

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This seems interesting to discuss because it is very busy on social media discussing the approval of this ETF. If the bet is held, it is possible that many will want to bet on the approval of this bitcoin ETF. Moreover, there are lots of strange bets available in casinos so it is not impossible that this could happen. Bitcoin ETF approval makes this a good bet in casinos, if it's profitable why not, but I don't see any casinos I usually play at available such bets.

I don't know if it's because it's not interesting or it's not available where I usually gamble, but if it was there maybe I would bet on it, I'm just sure this will probably take time and take a lot of time but I believe that this agreement will be approved for the bitcoin ETF application and I will probably choose YES because I am confident that the results will be approved. Grin

Oshosondy

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What is the odd for yes or no? That is what some gamblers would want to know. I do not know the odd and I may not gamble with it. It is the odd that will encourage or discourage some gamblers.

Miss world, US election, my country election on local gambling sites and this one are the type of games I do not gamble. I prefer football. Sometimes I go for table tennis.

But i prefer casinos than bookies.

Quote from: Cantsay on January 05, 2024, 06:28:50 AM

If the casino I’m currently using should make such bet available for me I’ll bet on it without stress. Whether I bet on it or not won’t change what’s going to happen so why not just take the opportunity to make myself a little cash ?

But if I have to create a different account on a casino just so that I can bet on it, I won’t and that’s the only limiting factor I can currently think of.

Bookies are the ones providing this kind of bet. Some casinos are also bookies, maybe the reason you have seen it on a gambling site that are both casinos and bookies.

Cantsay

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If the casino I’m currently using should make such bet available for me I’ll bet on it without stress. Whether I bet on it or not won’t change what’s going to happen so why not just take the opportunity to make myself a little cash ?

But if I have to create a different account on a casino just so that I can bet on it, I won’t and that’s the only limiting factor I can currently think of.

Fiatless

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A Polygon-based gambling site allows gamblers to gamble on the outcome of the spot Bitcoin ETF application by some investors. Gamblers are required to choose Yes” or “No” bets on whether the Bitcoin ETF applications will be approved or not. According to a report about $1.5 million worth of bets have been placed and bettors are patiently waiting for SEC's decision. From reports it seems that the majority of gamblers believe that the SEC will approve so the majority of them choose yes.

I know that there are diverse bets on unconventional events like Miss World, the US election and even wars. But this one is new and I just want to know if you will be comfortable betting on the spot Bitcoin ETF.

https://cointelegraph.com/news/bitcoin-etf-approval-results-gambling-reddit-community

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