Tony Reyes
Cryptocurrency reminds a very divisive topic regardless of who you speak to you about it or how you feel about it. Despite this, we can bet on the cryptocurrency market and speculate on the future of the companies involved in cryptocurrencies, like Binance and Coinbase.
We want to remind you that the best way to ensure you have all the necessary information before placing any bet is to check out the best sportsbook reviews.
Binance US market future?
This past week, the SEC charged the Binance company with various securities law violations. This has provided an opportunity for sportsbooks to offer a market for us.
Today we charged Binance Holdings Ltd. (Binance); U.S.-based affiliate, BAM Trading Services Inc., which, together with Binance, operates https://t.co/swcxioZKVP; and their founder, Changpeng Zhao, with a variety of securities law violations.https://t.co/H1wgGgR5ir pic.twitter.com/IWTb7Et86H
— U.S. Securities and Exchange Commission (@SECGov) June 5, 2023
BetOnline is offering two options surrounding Binance and its future. The first is if the company must stop serving the US Market entirely in 2023.
 |  |  |
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| No | -300 | -300 | -300 |
| Yes | +200 | +200 | +200 |
Oddsmakers have set the odds at -300 for NO on Binance stopping serving the US market. The implied odds are 75% that this will be a warning for them. It could be a slap on the wrist, and they will have to dole fines for their infractions.
This is the most likely outcome, and I recommend betting NO on Binance stopping serving the US market in 2023 at -300 odds.
New Binance CEO odds
Let’s stick with the Binance corporation and speculate their next move after being charged with these violations.
Several websites are available for you to wager with; you can even choose to use the newest form of funds transfer, cryptocurrency. We have a list of the best betting sites that accept cryptocurrency as a payment method.
Oddsmakers believe the company will continue to operate exactly as it used to. However, there is a change. We can also wager on the future of Changpeng Zhao, the current CEO of Binance.
BREAKING: Crypto exchange @binance and CEO @cz_binance sued by the SEC on allegations of violating federal securities laws. @nikhileshde reports. https://t.co/ZAg4JZYTLv
— CoinDesk (@CoinDesk) June 5, 2023
Reading between the lines, oddsmakers speculate that Binance will be allowed to operate as long as they’re willing to sacrifice CEO Changpeng Zhao. Look at the odds for him to step down this year.
| | |
|
| Yes | -200 | -200 | -200 |
| No | +150 | +150 | +150 |
The odds for Zhao to step down are -200! The implied odds of -200 are 66.7%, indicating they believe this is more than likely.
It makes sense that Binance would have to move on from Zhao after they were caught violating federal securities laws. I recommend betting him to step down this year at -200 on BetOnline.
Let’s stick to the cryptocurrency topic and explore the naming options of the Crypto.com Arena. With the recent news, they will no longer offer international trading exchanges in the US if they keep the arena’s naming rights.
Crypto.com Arena changes name, or Coinbase leaves US
In addition to the questions surrounding the future of the Crypto.com arena, many are questioning the future of Coinbase.
Coinbase is another cryptocurrency exchange market. Skeptics of cryptocurrency are probably hoping it all comes crashing down at once. Oddsmakers overwhelmingly believe Coinbase is here to stay, even offering a +300 option for Coinbase to leave the US market.
| | |
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| Crypto.com Arena | -500 | -500 | -500 |
| Coinbase leaves US Market | +300 | +300 | +300 |
The implied odds of +300 equate to 25%, which could be much better. On the other hand, they believe the Crypto.com arena will no longer exist and are placing a -500 price on them changing their name.
I would agree with the oddsmakers at Betonline. I would bet on another company buying the naming right of the Crypto.com arena. The -500 price is pretty steep and provides little value.
These options are heavily favored; I recommend seeing if you can parlay them. If you parlay No on Binance having to stop operating in the US market (-300), yes on Binance CEO stepping down (-200), and yes on the Crypto.com arena changing name (-500), you can get to +140 odds.
That is another way of betting on favorites to ensure you get the best value from your bets.
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