Start of NFL and College Football season causes bitcoin price rise?

Discussion in 'General Bitcoin Gambling Discussion' started by Humble Servant, Sep 8, 2016.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    Chris DeRose, from the Bitcoin Uncensored podcast, has been predicting for the past few months that we would see a spike in the bitcoin price at the start of the American Football season as NFL and NCAA fans in the United States start buying BTC to fund their betting accounts. It's starting to look like he might be right when you look at how the price has moved over the past week.

    BTC PRICE 31 AUGUST - $571

    On Sunday 11th September, the full NFL preseason schedule kicks off, so it will be interesting to see where the price goes over the next few days.
  2. Humble Servant

    Humble Servant Active Member Staff Member

    .... surprisingly the price dropped down to $606 on Sunday.
  3. Kaboom

    Kaboom Member

    it a shame that the off-shore bookmakers like 5dimes and bovada are so secretive. i would love to know what percentage of nfl bets are placed from bitcoin funded accounts compared to last year.
  4. Dara

    Dara Member

    my guess is the football season creates demand for bitcoin but once they've been deposited most sportsbooks sell them on an exchange which balances things out.
  5. Humble Servant

    Humble Servant Active Member Staff Member

    Price at the weekend was $620. I would love to know how much American Football is contributing to recent bitcoin price gains.
  6. Wonka

    Wonka Member

    I've been trying to convince some of my friends to buy bitcoin for the past 3 years but they've always just laughed at me. However, I've noticed that many of them now have Nitrogen Sports and CloudBet account and they regularly use BTC to wager on the NFL. The times they are a changin.
  7. Freddy

    Freddy Member

    We are still only in the NFL pre-season so you can expect the price to rise even more as things heat. I wonder if the price rise last week had anything to do with the MLB World Series? I sure a big portion of sports bettors in the US were gambling on in.
  8. Humble Servant

    Humble Servant Active Member Staff Member

    I think all these big sporting events are helping to drive bitcoin adoption but when you look at trading volume you will see that the bulk of bitcoin are bought and sold in China. I think the sporting events like Super Bowl do cause the price of BTC to rise by 5 or 10 dollars but anything more than that is usually as a consequence of the Yaun devaluing against the dollars.
  9. Kaboom

    Kaboom Member

    the normal nfl season is about to finish. it will be interesting to see whether we will see another surge to mark the beginning of the nfl play-off season. that's when the serious gambling starts.
  10. Pony

    Pony Member

    Christmas is usually a big sports gambling period so I'd expect the price to rise by 5% over the next couple of weeks.
  11. BeastyBoy

    BeastyBoy Member

    Only 4 weeks to the 2017 Super Bowl in Texas. Who thinks we will see a price rally before the Super Bowl as sports bettors in the USA stock up on BTC before the biggest sports betting event of the year?
  12. 2damoon

    2damoon Member

    The price rose by about $100 the week before the Super Bowl also. Next year that would be a good week to trade btc and make a few extra dollars.
  13. EthHead

    EthHead Member

    i was expecting the price to drop after the super bowl but it didn't. i guess many sports bettors these days are holding their bitcoin until they need them again. BULLISH!
  14. Toast

    Toast Member

    I wonder if the price rise this week had anything to do with the NBA payoff finals.
  15. Humble Servant

    Humble Servant Active Member Staff Member

    The bitcoin mempool (backlog of transactions) is almost empty now and the price of transactions continues to drop. You can get your transaction included in the next two blocks now for just a dollar. It will be interesting to see if the backlog will increase again when the NFL pre-season starts.

  16. NKOTB

    NKOTB Member

    NFL starts next week so let's see if there is a noticeable price increase in the coming days...
  17. Gooch

    Gooch Member

    i'm surprised that the price stayed pretty even over the weekend despite there being about 15 NFL games. have sports bettors abandoned btc in favour of litecoin or bitcoin cash?
  18. Humble Servant

    Humble Servant Active Member Staff Member

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