Wager On The Price Of BTC

Super Bowl LVIII logo featuring a BTC logo hovering over the Las Vegas skyline

Super Bowl LVIII logo featuring a BTC logo hovering over the Las Vegas skyline

One of the most popular cryptocurrencies used for betting on sports online is Bitcoin. Whether depositing or withdrawing, no sportsbook banking option is more secure.

BTC is as common as major credit and debit card brands at online Super Bowl sportsbooks. Gambling sites prefer it to standard methods because there is no government oversight to deal with.

That’s not the case when using USD, as banking institutions often flag gambling-related transactions and cancel them. All that is required to trade Bitcoin is blockchain processing. This can take some time, but it is due to the detailed and lengthy encryption that must take place.

Once the Super Bowl rolls around, online sportsbooks create odds for most occurrences that happen during the game’s broadcast. These are referred to as Super Bowl prop bets, and they allow for wagering on the National Anthem, coin toss results, the Halftime Show, and anything else that occurs before the game goes off the air.

Bovada has created two prop bets that are taking wagers on the overall behavior of Bitcoin markets between the beginning and the end of Super Bowl 58.

What Will Happen to the Price of Bitcoin (BTC) During the Super Bowl?

Price Goes Up -125
Price Goes Down -105

This is a simple wager that will pay out for bettors who select the correct direction of BTC market prices. The website Bitcoin Average will be used as the official measuring stick for the opening and closing value of BTC.

Today’s price is resting in the neighborhood of $42,900. Values are rebounding after a late January slump and appear poised for slow but steady gains over the coming weeks.

There are also Super Bowl odds for the price of Ethereum during SB 58. While not as common as Bitcoin, ETH is accepted at most online sportsbooks and gambling sites that we do business with.

What Will Happen to the Price of Ethereum (ETH) During the Super Bowl?

Price Goes Up -125
Price Goes Down -105

Ethereum is currently trading at $2,339, but like BTC, is also rebounding from a downslide that occurred in mid-January. For each of these financial-related SB props, the price is projected to rise during the big game.

However, neither betting outcome will award 100% of your money back, so be prepared to risk more than you can earn if you decide to act.

No Cryptocurrency Ads For Super Bowl LVIII

Unlike in recent years, Super Bowl 58 will not feature any Bitcoin or cryptocurrency-related commercials. Any SB ads relating to BTC or ETH would certainly impact the markets, so don’t go into the game expecting an artificial boost.

For a boost that is legitimate and substantial, be sure to bet on the Super Bowl with Bitcoin at any of the offshore sportsbooks that we recommend here at SBL.

Sources:

Author: Alan Morris