WILD RACER

How to play WILD RACER

While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.

In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.

Bernstein estimates the global market for financial contracts will grow to $900 trillion by 2035, up from $700 trillion last year, and if prediction markets capture just 0.5% of that total, volume would increase by $4.7 trillion per year.

About WILD RACER

We’ve already gotten money on the Bills against the Chargers, and of course the fact the Chargers lost to the Raiders yesterday (Sept. 20) 26-14 doesn’t help matters for people wanting to bet against the Bills,” Scucci explained. “So that’s all the more reason why we are seeing the money on the Bills. They’re going to be betting against the Dolphins every week, too.”

Like other sportsbooks in Las Vegas, Boyd Gaming is taking on significant liability on the Las Vegas Raiders, coming off their big win in Los Angeles to go 2-0 on the season.

“I think the Raiders are probably overachieving and giving more than what most people expected,” the Boyd Gaming VP said. “There’s a lot of sentimental support in Las Vegas. They’re clearly our biggest liability on the futures-bet market to win the Super Bowl. People bet them at long odds for that. The first game (27-13 over Miami), people didn’t hold that into much account because it was the Dolphins, the worst team in the NFL. But still, they played pretty well.”

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“Consumers are being presented with more options for how they can participate in online gaming, creating a more competitive landscape where a seamless digital experience is increasingly becoming part of the value proposition,” said Jason Wolf, president of Fullstory, in a statement. “The brands that understand how consumers are navigating, comparing, and engaging with their platforms in real-time can identify where friction is getting in the way of trust and retention.”

A quarter of respondents said they use both prediction markets and sportsbooks depending on the event they’re considering wagering on. While the 35% reduced use figure may sound like a warning shot to gaming companies, a variety of other studies and surveys indicate that when bettors can choose between a sportsbook and an all-or-nothing exchange, they frequently opt for the former.

While sports event contracts are currently the tentpole category for the prediction market industry, data indicate bettors and traders are embracing other categories.