Bitcoin Forum

Today it's possible to bet on anything, from weather to the next US president. But would it be possible to bet on Bitcoin price or on any other major crypto-currency price, like Dash, Doge, Ethereum or Litecoin ? With big price movements of Bicoin these past days it could be interesting :).

there was a site for this too .. the owner of whipple-games.net started it. i dont kno whether its still alive or not...
but i think in bitbet.us its there.. check it out

in that site theres some deviations acording to market and difrent questions but its betting all right not the price but speculation

You can give try to secondstrade.com if you are interested in binary trading and want to place bet on bitcoin price, that site offering pair btc/usd there and providing super fast services.

Secondstrade offers this as well as if you check the games and rounds section from time t time youll see sites hold free contests for guessing btc price on a certain date

I was unclear. Secondstrade is binary option and this isn't what I want. I meant betting on Bitcoin price in like 6 months. With something like -300$, 301$-500$ and +501$. With different odds on different price frames, depending on the chance to see Bitcoin rise this price.

I don't think if there is any site offering these kinds of bets , I thought that you were talking about trading or something similar to that
but actually I passed by a site who was offering many things to bet on , and as I remember there was a bet about if BTC price will be over 700$ in the 2nd half of 2015 , that was the only bet and I honestly can't remember the name of that site

Too bad that you don't remember it :(... This was exactly what I was looking for. Maybe I can suggest it to DirectBet ? I'll send them this suggestion tonight.

There used to be some site, or at the very least a forum game where people were betting on the price.  I think is rather silly to bet on how much money your money is worth but people seem to be on anything nowadays.

I am pretty sure that if you contact William Hill or any other big betting house and you suggest them on what do you want to gamble, that they will accommodate you. I know that's possible to gamble on no matter what. You can get odds for anything. All you need is to want to place a bet like this and I'm have a money to place it.

OP asks about wagering on cryptocurrencies. I'm afraid that William Hill does not lead betting in cypto ..

There are several options if you want to bet on bitcoin price.
One way is to use a binary option site but the duration is usually low (from a few minutes to the longest I have seen is a week).
Another way is to use Bitfinex or any exchange that allows you to do margin trading and to enter into short position.
Lastly, you can make bets like "Will btc price will > 300 on Dec $15, 2015" on Betmoose and Predictious.

There are a lot of sites offering binary options.

The most reliable in my opinion is secondstrade.com.

Then we have btcoracle, bitplutos, liberoptions etc. etc.

If you can now or predict that kind of movements in prices, you can trade.  ::) I think you do not need gamble. If I have any knowledge that, I prefer to choose trading.

Yep go put a bet on Betmoose
Have people look it up and see who will become the winner.

I think Coinut offers something similar, not sure if they offer to bet on price for six months but you can bet on price of bitcoin for the next hour or so, check it out and see if it's something you're looking for. The reason why sportsbook don't offer any such bets because they're unsure as to what odds to provide for that.

yes i understand your point. however, there is still some different in the trading and betting for this case. so if you predict the price is gonna rise in one month, you can actually bet and get back even more when you win with a greater btc value. however, in trading, you will just keep your btc to wait for the price to rise.

also betting in btc has many variance, like will it cross 300usd in the month of oct, will today the range of the price of btc exceed certain % etc.

some people also like to gamble instead of trade is due to the fact that trading may need you to monitor closely the rise and fall to buy/sell at the price you desire. however, you can bet with your desire outcome and just ignore till the result is out..

Ohh I can understand now. I missed that point. Gambling is fast everytime for winning and also loosing too.

You can try https://preevbtc.club (https://preevbtc.club) and help our project.  It started few days ago and is still in development https://bitcointalk.org/index.php?topic=1216434.msg12748052#msg12748052 (https://bitcointalk.org/index.php?topic=1216434.msg12748052#msg12748052)

yah gambling is fast. if trading, you still have to monitor the pattern, wait till you think it is the best time to buy and wait till it is the best time to sell etc.

yah i also just saw the thread that is being push up. it is exactly what the OP is talking about.

The only problem that we see atm, to be a real BET it must be quick to pay (if won). In case of prices of currencies/crypto, its hard to be done like that way, because we have different times zones and if the bet is for the same day, you will see a lot of people betting around 23:30 till 23:59. That cant happen.

when I first started visiting bitcointalk.org there was plenty of wagering on the price fluctuations and targets of btc. they were private bets done through escrow, but I remember it being quite a common thing. The whole BTC roller coaster was a little more exciting back then, and there were some pretty enthusiastic characters who had a LOT of BTC to throw around. the law of averages seems to have flattened that action quite a bit these days. I'm sure, if you wanted to make some sort of prediction you could find others to wager on your accuracy. needs an escrow to work though.

You can solve this problem by organising bets on a day at UTC. Using the "middle" timezone can be the solution because anyone can access it easily. Anyone would normally know in which timezone he is. It's generally called -7 or +9, so you just have to do the inverse math to know what time it is in the UTC timezone.

Yes, we are working in a solution something like that ;). For i.e, if a user picked a price and he is in UTC +2,  so UTC +2 in the next 24h will be his closing price. We have another solution, but we are still trying to see if is good for this.

By now, while working, we will keep the website like it was atm. Anyway, we have some SCRT users playing.

Also we working in a light design to attract more users. Right now, we only have SCRT users and not bitcoin users (only 0.05 btc volume). We know that our design and automation is still poor but we are working hard to get a better platform. We will also change API very soon.
If we set up all well, it could be an interesting platform. Let's see... important is to keep working. ;)

it would be cool if there were a website that would offer betting on bitcoin price lets hope there will be one anytime soon in the future

good luck in your works. i dont mind waiting for all the things to be in proper places and if i still have some spare btc, i dont mind throwing it for the entertainment. it is overall a great idea.

As been said above, bitcointalk.org was offering betting like this in the past.


I think that even now you can find people here who would accept the betting and you can find respectable members who would escrow it.

Why do you want to bet? You could just trade the btc market. I think btc-e.com is probably the biggest trading platform for crypto currencies , but I'm not sure about this.

I think you are right on that.  Even though with trading you still pose a slight risk to making or losing money.  In my opinion there is no different from trading than there is gambling.  You never know if the market will crash,rise or whatever it might do.

I totally agree with you. I see no difference in trading or gambling. You have to make predictions and guess on both of them. You can even "trade" in sports market if you want, when the site gives you the "lay" option. I think it's a "safer" approach, because you don't have to guess the outcome of the game, you just need to be ahead in some point of that game, and then you close and get your profit no matter what. It will give you "less money" though.

There are many ways. You can trade/leverage/buy binary options, or place a good old bet on bitbet.us (most bets there already are about btc price) :)

I want to bet on Bitcoin price because I find easier to tell if Bitcoin will pass the $600 cap before the end of 2016 than telling if Bitcoin will be worth a few cents more or less in 1 minute. If I bet that 1BTC will be worth less than $600 and that I lose, I'll win in some way because my Bitcoins will be worth the double that it was when I bet ;) !

I haven't come across any of such sites but I'am sure there would be .Seems like a nice idea but the odds will be to dense as this is completely random ,maybe a sharemarket or some financial head can predict stuff like this .Otherwise,how will you even have a clue about what is going to be the price tomorrow .I'am sure the market researchers would have knowledge about this.

Ever try sparkprofit? They have a bitcoin option, although the prize is not much, you can make a free bet.

LoL your question is make a bitcoin trading like a gambling(although it's almost same, but it's different actually) xD

This website seems interesting, but it's quite strange. This was like if they were giving away money ! This is too good to be true.

You can do this on secondstrade. I'm sure you've heard of it, with all the stuff spam right now...

Well, I've made a bit out of doing this... (10 cents is a bit, rite?) It could be alot more profitable for you if you make educated guesses.

That's this my problem : you have to use your mind ! In gambling, you just have to wait until it's finished. The best would definitly be a forum thread dedicated to this purpose.

i have saw only the user taking the personal bets on this type of bets , i have not seen this type of bets which means that you want to trade in future option bets , like in share market they have future bets on shares and dow / nifty / etc., but you can get the sites where you can buy the bitcoins and on higher price you can sell them.

Because betting gives us more freedom for the payments are odds as compared to trading platforms .Betting is completely based on luck/knowledge at times but trading is totally based on the market behavior that is sensex/economy/inflation the factors that affect the price of the coins .Also at btc-e they have other policies along with them which in long term will make you broke anyway . 

Did not know about that. I know betfair has that system, they let you bet on the movement of prices of either currencies or even stocks if I remember right (never used it though). If only they would accept btc.

Did you wager some bet on their website? Did you win something? Did you get some free money form there?

Yes. I register and I did some really profitable oil predictions. The rolling number at the top the screen tells me that I have around 10 000 points but I have no idea at all how much money it's worth.

Well if it worths some money let us known and share your knowledge.

isnt this possible on a lot of sites already?
there are prediction markets like https://www.fairlay.com/

edit :
just saw they don't have any btc price related bets at the moment, but as far as i know you can propose any bet you like.

I can give you our side, by running preevbtc.club (http://preevbtc.club)...
In results, we are atm with a negative balance around 40% of the initial investment. This is also related with the rally that is ongoing. We don’t know how it will be when the price gets more stable. We do not pretend to close, because our users are mostly owner of our coin too. Today we need to bough more to pay. But its been funny and i think costumers enjoy too, ofc
:)

I just saw a post for new site that does this, but not sure about it 
Here is the the thread https://bitcointalk.org/index.php?topic=1229357.msg12825854 (https://bitcointalk.org/index.php?topic=1229357.msg12825854)

We are running a Special Event which is to predict if price will be higher or lower than 300$ on Bitstamp at the end of the month.
https://www.betbtc.co/markets/55141

That bet is very interesting. Is it possible for a big whale to manipulate the bitcoin market so that he will win against the casino?

I have play in prediction price in spark profit but im lucky to gain profit with no risk and got the exact  predict. I also try it in second trade it also give the exact predict in bitcoin like in spark profit.. You can try it..

Bitcoin's price is one of the most unpredictable things in the world.

I would not bet it at all, all traditional trading analytical patterns are useless with BTC.

There is a site that accept any kind of bet. But it is player vs player, so you need to find people willing to bet against you.

The problem is that most of the bets don't attract much people so it is not fun.

A site similar to sportbooks for BTC price would be a good idea

If you are very cable person, you can win long term in the player vs player casino. This is still a not good business for most people as the casino will take commission.

In stock market, if somebody thinks the share price will rise, he can use leverage to buy futures. He can manipulate the price by buying the shares to push up the price further.

I assume its not more popular to bet on things like this because most people would get the best price by trading in the free markets. If i had to bet on bitcoin/litecoin i'd say up up up right now.

There are many websites that offer you such things, but the only problem with them is that most of them offer too low odds that gambling on them isn't worth it. I've seen people betting on 1.2x for guessing next hour's/ half an hour's price. That's too low and that's why i like to stay away from them.

I'm sure that odds for longer terms will be higher.. But with Bitcoin time is better for player then for service. If i will have betting service i will never let play for long time with Bitcoin price. We all know that BTC price will be only growing.. ;)  ;D

Yeah but on what conditions ? No websites can hold this kind of bets because the people who are good at Financial Marketing will always win this and its quite predictable what is going to happen next if you study the patterns.

I think this is a good question for BetBTC. But we still do not get their answer.  :)
Bitcoin price betting is quite interesting, but i do not know how many odds that the site will give. Maybe @1.05 ?
Like sports betting game which know who will be the best choice between 'lower' or 'higher'.

I don't think it's that predictable, specially in BTC that is so volatile. I still think trading is very similar to gambling, what traders do very well, is to minimize their losses. And yes they have some skill predicting, but it's their stop loss that is just amazing, on a good trader.

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I agree with the original post, however the movement can be somewhat tracked.  When you are wanting to bet against any cryptocurrency, the best bet is to buy in against it.  I seen the price going up and bought in on 4 BTC and when it went up to $400, I sold.  I made $160 per BTC.  When it goes back down I will buy back in.  I understand there are other ways to gamble against this raise and fall, but the question is are you in it for the long term or the short term?  I would not try to get into this for the short term unless you are buying and selling every 5 to 10 minutes, which you will not clear verification in that time. 

Now I see big pump before auction with silk road bitcoins sale, and I can easy bet what price go up. News can helps to predict the price. After auction price must fall, and I will bet on that.

How does the silk road auction affect the market? The pump ain't related to SR. its because of the halvening thats gonna happen next year.

40k bitcoin is a very small proportion of the total bitcoin supply, which is 14.5 million bitcoins.

The auction by the US Marshall will clear the overhang, it is good for the bitcoin price.

Considering how the price of btc is jumping up and down, the idea of betting on it would be really interesting. Everyone could show their economy knowledge.

I don't think people know what is going to happen, and if they do they aren't saying anything.  Most people are just blindly guessing and if they guess right they think they are smart, no different than guessing on dice numbers.

If anyone has experience with the chinese market I think they can earn money with this, but anyway some website already have this and its a wild guess. I never tryed or will try. I prefer the good ol dice.
By the way, you should create a game in the sub topic about this if you really want  :P

Betting on a rollercoaster like BTC's price is impossible, the winning factor must be applied to luck 100%, there is no analytical pattern for it.

What exchange are you using to estimate bitcoin price? In your thread you write it is Yobit. May I ask why them?
It should be the exchange with the highest volume imo.

Yes but I would like to clarify a few things before we jump to the conclusions.News will just create the unwanted hype about the topic as part of the trending news but just giving false hopes to the gamblers that the price will go up.The real secrets lies with the trading market goons.

Betcoin.ag's service is exactly what I was looking for. But now, due to this exceptional situation, that's right it's better to buy when it's low in order to sell when it's high.

The problem with bitcoin price betting is that you do not know what the price will be the next day. It is like gambling, quite risky.

In pump and dump times yes, but when the price is stable technical analysis is well applicable to predict the price.

Silk Road auction pumping Bitcoin price due to the fact that in some way the US government legalizes Bitcoin and many people simply are convinced to invest in BTC.

There is no magic formula to discover bitcoin price, I have read that some people founded a formula...but i dont know if it is true...

I have saw only the user taking the personal bets on this type of bets, i have not seen this type of bets which means that you want to trade in future option bets, like in share market they have future bets on shares and etc.,

Lol, if they found some formula to predict bitcoin price, actually they can be millionaire.  :)
Just playin trading all the time. Buy cheap, and sell in the peak price.

I just thing that as jokes.

I can draw the trand and watch for the volume, sometimes I can predict the price changing due to this only and earn 1-5%. Or 80% on binary options, but in half of times I loss =//