Key Takeaways
- DATA.BET’s new markets let users bet on the price direction of Bitcoin or Ethereum over periods as short as five minutes.
- The B2B product uses conventional sportsbook odds.
- Polymarket’s odds of Bitcoin touching $85,000 in September fell from 47.5% on Sept. 9 to 35%.
Bitcoin’s price volatility is being repackaged into five-minute gambling markets as betting suppliers race to capitalize on the convergence between crypto trading and prediction markets.
Sportsbook technology provider DATA.BET has introduced an “Up or Down” product, allowing players to bet on whether Bitcoin or Ethereum will finish above or below a predetermined price.
The shortest contracts settle after just five minutes.
DATA.BET comes during a particularly divisive period for Bitcoin traders, as bettors wager on whether BTC will reach $85,000 in September.
Bitcoin Bets Settle in Just Five Minutes
Unlike a conventional Bitcoin purchase, the DATA.BET product does not require users to own crypto or profit from the size of a price movement.
Instead, players select whether the price will be above or below a specified line when the chosen period expires.
Bets are placed using standard decimal odds familiar to sportsbook customers.
DATA.BET Head of Product Rostyslav Likhtin described the product as a “fast-moving, always-on offering” that operates independently of the sporting calendar.
As well as 5 minutes, operators can also offer 15-minute, one-hour, four-hour, and daily versions, according to a Sept. 8 announcement.
Gambling Operators Can Add Markets Through Existing Systems
DATA.BET is a business-to-business technology supplier rather than a consumer-facing prediction exchange.
Its clients can add new markets via an iFrame or connect directly via an API.
The company said operators already using its odds feed and sports events API would not require a separate integration project.
That could lower the technical barrier for established sportsbooks seeking exposure to crypto betting without building their own pricing.
The expansion comes only months after DATA.BET launched its wider prediction-market product in April.
That original offering covered subjects including politics, geopolitics, finance, technology, culture, and weather.
Bitcoin Traders Retreat From $85,000 Target
The five-minute launch comes as traders remain divided over Bitcoin’s next move.
On Sept. 9, Polymarket gave Bitcoin a 68.5% chance of reaching $82,500 that month.
The chance of hitting $85,000 stood at 47.5%, according to a market breakdown.
Bitcoin was trading near $78,000, at the time of reporting, meaning it would need to rise by around 6% to reach $82,500 and roughly 9% to hit $85,000.
Traders also saw a 53.5% chance of Bitcoin falling to $75,000.
However, sentiment on prediction markets has recently weakened.
On Sept. 10, the live Polymarket market put the chance of reaching $85,000 at around 35%. Meanwhile, the odds of falling to $75,000 had climbed to approximately 67%.
