Crypto prediction markets let you take a position on a defined future outcome involving cryptocurrency. These cryptocurrency prediction markets can cover price changes, market rankings, or other measurable results of Bitcoin, Ethereum, and other coins.
Learn all about Roobet crypto prediction markets and how the crypto prediction market platform works. It explains what you can find in crypto markets on Roobet, how position prices work, and how markets are resolved. Learn the key details in taking positions in prediction markets at Roobet:
What are crypto prediction markets?
What are crypto prediction markets? These are positions or contracts that don't come with odds like in sports betting or live casino table games. Instead, every position in a crypto prediction market is priced between $0 if your guess is wrong and $1 if your guess is right, or by percentage, where 100% is equal to $1.00. When you take a position, you are effectively buying it, rather than betting on it.
Here are some examples of cryptocurrency prediction markets:
- Bitcoin (BTC) up or down this August?
- Up (62%)
- Down (38%)
- Ethereum (ETH) up or down this August?
- Up (73%)
- Down (27%)
As mentioned, a winning position pays $1.00, while a losing position pays $0.00. Lower-priced outcomes offer a higher profit if they win, while higher-priced outcomes cost more to back. For example, taking the Up (62%) position costs $0.62 per bet. If the prediction wins, the $1.00 return gives you $0.38 profit per bet.
You don't need to pay a fixed price when you buy a position. Roobet allows inputting any value you wish, and the payout will be calculated according to the position's price at the time you bought it.
It's also important to clarify that prediction markets can be about anything, like who will be the next president of a country or which team will win the World Cup. Cryptocurrency prediction markets are specifically about crypto future crypto outcomes. This can be about the crypto price forecast, reaching a cryptocurrency price milestone, or the state of the wider digital asset market.
How do Roobet crypto prediction markets work?
Buying a position in crypto markets on Roobet follows a similar set of steps to betting on sports events. Log in to your account, top up your wallet, then follow these steps:
- Open the crypto prediction market platform: Click “Prediction” on the Roobet main menu. This page covers a wide variety of prediction markets, so click on the "Crypto" tab to navigate to the crypto prediction market platform.
- Choose a market and position: Open one of the Roobet crypto prediction markets by clicking on it to see all available lines, then choose any position. This will open a menu where you can decide how much money you're spending to buy it.
- Input amount and buy the position: Input your stake in the created menu. Review the value and the position's price, then click "Buy" to finalize. This will create a contract as proof of your stake on the market.
- Wait for the deadline and market resolution: The deadline is written on the prediction market, including the exact day, month, and year. Market outcomes are finalized once the date has passed.
- Settlement: Stakes are returned to every account, including the profit earned from the market positions. You should see your cryptocurrency payouts reflected in your Roobet wallet immediately after settlement.
This affects your future contracts when you decide to buy more. You can also sell your existing contracts at any point before market resolution, but only at the position's current price.
How a crypto prediction market platform differs from crypto trading
The positions you take in cryptocurrency prediction markets create a contract you own, and each one entitles you to a compensation of $0.00 or $1.00 at the deadline. Whichever is paid in return depends on whether or not your position in the prediction market on the underlying cryptocurrency happens.
On the other hand, crypto trading is about buying and owning cryptocurrencies like Bitcoin or Ethereum. You keep these assets in your wallet until you decide to liquidate them. Selling, converting to other assets, and holding are among your options.
Here's a list of their main differences:
| Crypto trading | Prediction markets | |
| How is the price decided? | Based on market trends. | Market sentiment on the crypto prediction markets. |
| How is the profit decided? | You set the price as a seller, and a buyer decides to be the taker. Price agreement is influenced by market trends. The difference between your investment and returns is your gains. | As the contract owner, you can wait until the market is resolved to claim $1.00. You can also sell pre-emptively to cash out. The profit is the difference between money spent buying and returns. |
| What platform handles the trade? | Cryptocurrency exchange | Crypto prediction market platform, like Roobet |
Types of crypto markets that may be available on Roobet
The crypto markets on Roobet can cover different types of cryptocurrency outcomes. Roobet crypto prediction markets may focus on market data or other measurable results involving assets such as Bitcoin and Ethereum. Examples include their cryptocurrency price, trade volume, or market capitalization until a certain date.
The exact markets can change as new questions open and others close or resolve. Here are some examples of crypto prediction markets that you will see often at Roobet:
Bitcoin price and milestone markets
These crypto prediction markets focus on Bitcoin price thresholds and measurable Bitcoin milestones. Possible positions you can take are forecasts on the cryptocurrency price or the direction of Bitcoin market trends.
Ethereum price and market outcome markets
These cryptocurrency markets focus on Ethereum and its measurable market data. It can be about the cryptocurrency price, its market capitalization, or whether or not it reaches a new Ethereum price threshold. Roobet also offers prediction markets regarding Ethereum's implied volatility index hitting a deadline.
Market capitalization and cryptocurrency ranking markets
Market capitalization measures the total dollar value of the digital asset, which is the current cryptocurrency price multiplied by the circulating supply. Crypto prediction markets focused on this are usually about whether or not it will reach a milestone by a deadline.
Crypto market ranking sorts digital assets by market capitalization. A prediction may ask if one cryptocurrency will overtake another or reach a certain rank by a deadline.
Trading volume and crypto-market activity
Trading volume measures how much of a cryptocurrency is traded during a set period. You're buying positions for crypto-market activity of Bitcoin and Ethereum within a period measured by a specified data source.
How to read a crypto prediction market
Before taking a position, check the full prediction market details. This shows what is being measured and how the result will be decided. Identify these key elements in crypto prediction markets:
- Asset or market: This identifies the cryptocurrency or wider crypto market covered by the prediction. It shows which asset or market the outcome is about.
- Outcome choices: Each choice represents a different result, such as a cryptocurrency price moving above or below a set level.
- Position price: This is the value of a position when it is bought or sold. The price can change with market sentiment influencing other buyers’ actions on the platform.
- Metric: The metric shows what the prediction is testing. It may be a cryptocurrency price, market capitalization, trading volume, or another measure.
- Market deadline: This is the date and time when the market closes or reaches its stated resolution point. The metric at this point helps decide the outcome.
- Condition: It explains what must happen for an outcome to win. Terms such as “reach”, “above”, “below”, and “close above” can have different meanings. The full market wording defines the exact condition.
- Resolution source: This is the data source used to confirm the result. It may provide the price, trading data, ranking, or other information needed to settle the market.
- Resolution criteria: It is a set of rules used to decide which outcome is correct. They explain how the market condition, timing, and resolution source are used to reach the final result.
- Market settlement: This is what happens after the market is resolved. Positions are settled based on the confirmed outcome and the market rules.
Cryptocurrency prices and prediction-market prices
A cryptocurrency price and a prediction-market position price are not the same. The trading value of Bitcoin or Ethereum comes from buying and selling activity across crypto trading venues. A prediction market price has its own price based on a specific outcome.
For example, a change in the Bitcoin price can affect a related prediction market. The two prices can move together, but they can also move in different directions.
Several factors can affect a position price:
- Market probability
- Time remaining
- Market sentiment
- Volatility
- Market activity
A position price is a changing market signal. It is not a guaranteed probability or a promise of what will happen. Each market in crypto prediction markets has its own question, conditions, and deadline.
Volatility and changing crypto prediction-market prices
Volatility is how much a cryptocurrency price can change over time. Bitcoin, Ethereum, and other digital assets can see large price changes in a short period. These changes can affect the price of an open prediction-market position.
A large market price movement can change the expected outcome before the cryptocurrency market closes. Market sentiment impacts buyers' and sellers' activity, which also affects the prices of contracts.
Volatility does not mean higher returns or a better chance of winning. Consider the time left, distance from the target, current market information, and possible loss before taking a position in crypto prediction markets.
Roobet as a crypto prediction market platform
Roobet offers its service as a crypto prediction market platform on the same Roobet account you use for casino and sports betting. Find a crypto prediction market, buy positions, review possible outcomes, and see how each market is settled. Polymarket powers the prediction markets, while Roobet provides the platform.
The cryptocurrency featured in a market is separate from Roobet, so Roobet does not set its price, trading volume, or market capitalization. These values come from the wider crypto market and trader sentiment.
Roobet crypto prediction markets are available to eligible users, subject to account rules and regional restrictions. Check the crypto markets on Roobet for current market availability and position prices. Roobet operates under a Government of Curaçao license, OGL/2024/687/0427.
How to explore crypto prediction markets on Roobet
Roobet operates under license OGL/2024/687/0427 by the Government of Curaçao. With this, the site can only offer its services as a crypto prediction market platform in regions where it is allowed to operate. This also affects the availability of certain Roobet crypto prediction markets.
Follow these steps to see if the platform and cryptocurrency markets are available to you:
- Visit the Roobet website: The casino will tell you immediately if your region is restricted. You may try mirror sites at playroobet.com for alternative access.
- Look for "Predictions" in the main menu: Roobet places all quick links to its main pages on the menu. You should find Predictions between Sportsbook and Rewards. If it's not there, crypto markets on Roobet aren't available in your region.
- Find the "Crypto" tab at the top of the page: Once you're on the Predictions page, there should be a list of categories at the top. One of them should be Crypto, which narrows your market selections to digital assets like Bitcoin and Ethereum.
- Use the search bar for specific keywords: The search bar should help you find specific markets. You can input the name of the asset, the date of the deadline, and the nature of the position. Some markets under crypto may also be the enactment of a bill into law, as long as it's related to cryptocurrencies.
- Click on a market and review it: All important information should be in the prediction market. This includes its deadline, trade volume, resolution criteria, and resolver.
- Check the market's resolver: The resolver is the data source that verifies the market outcome. It's a line of numbers and letters that is hyperlinked to its contract page. It helps investigate the validity of market settlement.
What to check before choosing a crypto prediction market
It is best to read the full prediction market instead of relying on its headline. Crypto prediction markets can use different assets, conditions, deadlines, and data sources.
Check these details before choosing a position:
- Check the cryptocurrency or market indicator: Make sure you know what the market measures. It could be a cryptocurrency price, market capitalization, trading volume, or ranking.
- Read the market condition: Check the exact threshold that must be met. Pay attention to terms such as "reach", "exceed", "close above", or "remain above". These can have different meanings.
- Check the deadline: Find the exact date and time when the market is resolved. Check the stated time zone too, especially when the market covers data from another region.
- Review the resolution criteria: Check the data source that will confirm the result and any rules for resolving the market.
- Compare the available outcomes: Look at each outcome and its current price before choosing one. Market sentiment and volatility can change these prices before the market closes.
- Check if the market is still open: Make sure you can still take a position. If position management is available, check the current rules for buying or selling before resolution.
- Check the maximum possible loss: Know how much you could lose if your selected outcome is wrong. Also check the potential return shown by the platform.
- Read the settlement rules: Check what happens if the cryptocurrency prediction market is cancelled, disputed, or delayed.
Risk and responsible participation in crypto prediction markets
Crypto prediction markets involve financial risk. An unsuccessful position can result in losing the full amount committed. So, set a gambling budget before taking a position. Only use money you can afford to lose. Do not use funds needed for bills or other essential costs.
Always note that cryptocurrency markets like Bitcoin and Ethereum prices can move sharply. With this, changes in market sentiment, trading volume, and volatility can affect both the market outcome and position price.
A high displayed probability does not guarantee a win. Popular views, price trends, and crypto forecasts can also be wrong. Avoid chasing losses or increasing positions on impulse. Prediction markets are not a reliable source of income.
Taking a position is also different from investing in cryptocurrency. You are taking a view on a specific outcome, not buying the underlying asset. This page is not personal financial advice. Review Roobet's responsible gambling tools, account limits, and regional rules before taking part.
Frequently Asked Questions
What are crypto prediction markets?
Crypto prediction markets let users buy positions on future crypto outcomes, such as Bitcoin price movements. Each position has a price linked to its expected chance of winning.
How do Roobet crypto prediction markets work?
Choose a crypto market, review its outcomes and rules, then buy a position. The market settles based on its stated resolution criteria and result.
What cryptocurrency markets are available on Roobet?
Crypto markets on Roobet can cover Bitcoin, Ethereum, cryptocurrency prices, market capitalization, trading volume, and other crypto-related outcomes.
Can I sell a prediction market position before it resolves?
Some markets may let you sell a position before resolution. Check the current market rules to see if this option is available.
