- Crypto.com has expanded its sports event prediction services
- When the service debuted users could purchase “contracts” for teams to either win or lose the Super Bowl
- Now users can also predict if teams will win or lose the NFL conference championships, college bowl games, and college national championship
Just two weeks after Crypto.com announced its new sports prediction market service, the cryptocurrency trading platform is already expanding its markets.
Crypto.com announced today on the social media platform X that its users will be able to buy contracts to predict the outcomes of several additional major U.S. sporting events. When the service debuted in late December, it only featured contracts on the outcome of the Super Bowl.
The platform launched the first ever sports event trading product in the country two weeks ago, currently available in all 50 states, allowing U.S. users of Crypto.com and its app the ability to participate and trade their own prediction on the outcome of sports events.
Expanded Offerings Just Two Weeks In
Crypto.com announced today that users will be able to buy “contracts” to determine if teams will win or lose the NFL conference championship, certain college bowl games, and the college football national championship.
The service is similar to other event contracts on cryptocurrency offered by the company, part of its derivative offerings, which is a Commodity Futures Trading Commission (CFTC)-regulated exchange.
Sports betting is regulated by state gaming regulators and commissions.
The service allows users to purchase “contracts” for various prices. For example, a current contract on the Kansas City Chiefs to win the Super Bowl is trading for $32.75. Each contract that has a correct outcome returns $100, according to the company.
Because the service is regulated by the CFTC, Crypto.com can offer the contracts immediately to users through every state in the country. The service is not beholden to the sports betting tax rates that operators have to pay in each market they’re licensed, but it is subjected to certain requirements by the CFTC to ensure a regulated market for its traders.
What’s Next?
So what’s next for Crytpo.com? Two weeks into the service and the company is already offering contracts on several more high profile sports events, so it’s easy to see that this is just the beginning of their services.
After the Super Bowl, you can expect Crypto.com to likely offer contracts on the March Madness basketball tournaments, such as offering predictions on the sweet 16, final four, and eventual champion.
Crypto.com, a leading cryptocurrency platform, has recently announced the introduction of new features to its sports prediction market service. This exciting development is set to revolutionize the way sports fans engage with their favorite teams and players while also providing an opportunity for crypto enthusiasts to earn rewards through accurate predictions.
One of the key features of Crypto.com’s sports prediction market service is the ability for users to place bets on various sporting events using cryptocurrency. This means that users can now use their digital assets to wager on the outcome of games, matches, and tournaments across a wide range of sports including football, basketball, tennis, and more.
In addition to traditional sports betting options, Crypto.com’s sports prediction market service also offers users the opportunity to participate in peer-to-peer prediction contests. This feature allows users to compete against each other in predicting the outcome of specific sporting events, with the winners earning rewards in the form of cryptocurrency.
Furthermore, Crypto.com has introduced a new feature called “Live Betting” which allows users to place bets on sporting events in real-time. This feature adds an extra layer of excitement to the sports prediction market service, giving users the opportunity to adjust their bets based on the unfolding events of a game or match.
Overall, the introduction of these new features to Crypto.com’s sports prediction market service represents a significant step forward in the integration of cryptocurrency and sports betting. By combining the thrill of sports with the potential for financial rewards through accurate predictions, Crypto.com is poised to attract a new wave of users who are eager to engage with both worlds simultaneously.
As the popularity of cryptocurrency continues to grow, it is likely that more platforms will follow in Crypto.com’s footsteps and offer similar services that cater to sports fans and crypto enthusiasts alike. In the meantime, users can look forward to enjoying an enhanced sports prediction market experience on Crypto.com’s platform thanks to these innovative new features.
