Oddsmakers Have Grown More Confident in Bitcoin and Dogecoin Following Surge-filled Week
Dogecoin Maybe Worth More Than $1
Copenhagen – April 16, 2021 – Dogecoin currently has 5/1 odds (16.7% implied probability) to be worth more than $1 at the end of 2021, according to betting aggregators US-Bookies.com (See Disclaimer Below). This is a significant improvement from earlier this month, when it had 33/1 odds (2.9%) to do so.
Last year was a banner year for hedge funds in general, as the industry attracted $31 billion worth of net inflows, according to data from HFM. That total included a challenging fourth quarter, in which investors pulled more than $23 billion from hedge funds. HFM reported $12 billion in inflows for the first quarter following Read More
“Following Elon Musk's latest tweet, the odds of Dogecoin hitting the landmark value of one dollar have fallen significantly,” says a US-Bookies spokesperson. “Not so long ago, the prospect that the currency would be worth any more than a few cents seemed remote, but momentum is building and another surge - even as soon as this month - cannot be ruled out.”
Dogecoin also has 16/1 odds (5.9% implied probability) to reach $1 by the end of April. Oddsmakers are currently placing 10/1 odds (9.1%) on Elon Musk allowing Teslas to be purchased with Dogecoin this year.
Big Price Increases Expected For Bitcoin
Bitcoin is also likely to see big price increases, according to the oddsmakers. Bitcoin’s odds of reaching $100,000 this year improved slightly from 5/4 (44.4% implied probability) to 11/10 (47.6%) since the beginning of the month. Its odds of hitting $200,000 also improved from 16/1 (5.9%) to 12/1 (7.7%) during this time. Bookies now also list Bitcoin as 33/1 (2.9%) to eclipse $400,000, and 66/1 (1.5%) to reach $1 million.
“The cryptocurrency market has been quite the interesting sight as of late, and that’s mostly thanks to Bitcoin’s incredible rises, which have led bookies to grow quite confident that it will continue to take off,” says a US-Bookies spokesperson. “However, the volatility is noted, as oddsmakers also give Bitcoin 4/1 odds to fall to $10,000 in 2021.”
Odds that Bitcoin Reaches the Following Prices in 2021 (parentheses indicate odds on April 6):
- $100,000: 11/10 (5/4)
- $200,000: 12/1 (16/1)
- $400,000: 33/1
- $1,000,000: 66/1
- Fall to $10,000: 4/1
- Fall to $1,000: 250/1
Dogecoin Odds (parentheses indicate odds on April 6):
- To be worth more than $1 at end of 2021: 5/1 (33/1)
- To be worth less than 1¢ at end of 2021: 20/1 (16/1)
- To be worth more than Bitcoin at any point this year: 1000/1
- Elon Musk to allow Tesla to be bought with Dogecoin this year: 10/1
- Dogecoin to reach $1 by April 30: 16/1
Disclaimer: The odds posted in this article are for illustrative purposes only, as wagering on such props is not currently legal in any U.S. state. The data was based on betting markets offered by UK/European/worldwide operators regulated in jurisdictions where wagering on these props is legal.
US-Bookies.com is the first comprehensive betting web portal in the United States, developed by one of the world’s most successful iGaming companies with the goal of providing betting intelligence to gamblers. It is designed to be a single point of access for information on wagering, offering data, odds, and authorized legal online bookmakers. The site provides a library of data-driven content that offers intelligence, so visitors can make informed gaming decisions. US-Bookies.com represents the first foray into the United States for Better Collective, one of the premier online gaming companies in Europe. Better Collective has similar portals in 35 different countries throughout the world. Another unique and invaluable aspect to US-Bookies.com is that it provides a state-by-state listing of all legal online bookmakers, which provides gamblers with a central resource to determine which websites are authorized to offer online betting in respective states.
Visit www.US-Bookies.com to learn more about Better Collective’s expansion into the US.