In crypto currencies markets there are 2 types of exchanges. The first one is spot exchange (you buy real bitcoin) and the second one is a derivatives exchange (futures market). In the spot market in order to buy one bitcoin you need to deposit fiat currency (EUR,USD etc). But in the futures market you can speculate about the bitcoin price or other cryptos, depositing bitcoin as collateral. The value of the collateral will increase/decrease with the price of bitcoin.
Betting as a science and pure business
When you bet upon the outcome of football matches, a late goal can either make your day or ruin your weekend. I’m still haunted by an accumulator which fell apart when Bolton conceded two goals in the final three minutes against Crystal Palace. That was 20 years ago. You’ll have your own similar tales of woe locked away, no doubt.
One pattern that I could see constantly emerging was within the horse racing markets. What I started to see was that in certain scenario’s there was a high probability that a horse would shorten in price.
KYC, Confiscation, Restriction, AML are the most popular words in today’s gambling industry. Every year more and more regulations been created for and by the governments in order to get a bigger piece of the gambling pie. They are doing that in collaboration with the bookmakers at the expense of the player. As you all know, more and more countries restrict, forbid, or tax any gambling-related activity.
Nick Smith: People are always shocked by my response when they ask me what I did
when I worked at Goldman Sachs…
“I was a professional gambler in a suit” No seriously, what did you do?