What Sports or Events can be Used for Crypto Prop Betting?
Crypto prop betting extends far beyond sports, with decentralized prediction markets covering a vast array of topics, from politics and entertainment to finance and world events. The core concept is that any event with a verifiable outcome can be turned into a market.
Here are some of the other categories for crypto prop betting:
Politics and elections
Prediction markets gain significant traction during election cycles as they often provide a more accurate forecast of outcomes than traditional polls.
- Examples:
- 2024 Presidential Election: Market contracts for who would win the election, specific electoral college outcomes, and even what candidates might say during debates.
- Government actions: Markets on whether a certain bill will pass by a specific deadline or if there will be a government shutdown.
- International politics: Betting on the outcome of elections in other countries, like Norway's next Prime Minister.
Finance and cryptocurrency
Traders and analysts use these markets to bet on and gauge sentiment around the future prices of crypto assets and the broader financial landscape.
- Examples:
- Crypto prices: Contracts on whether Bitcoin or Ethereum will reach a specific price target by a certain date.
- Token launches: Bets on whether a new crypto token will launch by a deadline or whether an airdrop will occur.
- Macroeconomic events: Markets on interest rate changes by central banks or the annual rate of inflation.
Entertainment and pop culture
High-profile cultural events are a popular category for prop bets, with markets often appearing on platforms like Polymarket.
- Examples:
- Awards shows: Betting on the winner of an Oscar, Emmy, or Grammy award.
- Celebrity news: Markets on specific celebrity actions, like whether Taylor Swift will get engaged by a certain date.
- Streaming events: Wagering on outcomes of events in TV series or the performance of a new show.
Esports
The intersection of gaming and crypto makes esports a natural fit for prediction markets.
- Examples:
- Tournament outcomes: Wagering on the winner of a major tournament in games like Dota 2, Counter-Strike, or League of Legends.
- Player performance: Prop bets on the performance of a specific player within an esports match.
Science and technology
These contracts can offer a way to bet on scientific breakthroughs or technological milestones.
- Examples:
- Space exploration: Markets on whether a private space company will achieve a specific mission objective by a certain date.
- AI development: Betting on milestones in the development of artificial intelligence, such as whether a new model will be released or banned.
- Company milestones: A contract asking whether a company like Tesla will launch a new product like a driverless Robotaxi service by a specific deadline.
World events and news
Broader geopolitical events and news-driven stories also feature on prediction markets, allowing users to bet on outcomes and measure public perception.
- Examples:
- Geopolitics: Contracts on ceasefire agreements or potential military engagements.
- Social issues: A market might ask if a court case will be decided by a specific date or if a major social trend will evolve in a certain way
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