Pinging sees bookmakers, spread betting companies and their agents and syndicates placing a large number of small bets, in an attempt to to induce other agents in the betting marketplace to react to their pings and to reveal their hands. Basically an attempt to flush out the insider money.
Augur the decentralized prediction/betting market protocol built on the Ethereum blockchain stumbles along, attracting very little liquidity to anything other than crypto related markets (Only $1,244.55 traded to date on the who will win the 2018/19 English Premier League betting market, for example). One of the main markets on the platform, by volume, concerns Augur traders betting that the Augur Rep cryptocurrency will appreciate in value by the end of 2018. To the question Will REP token trade above $32 at the end of 2018? only 32% of those that have traded in the market are saying yes - hardly an overwhelming vote of confidence in the Augur Exchange.
You can track the live betting markets on Augur by clicking on the link below. It is notable that most of the sports betting markets on Augur have attracted no liquidity whatsoever. So, as it stands, Augur is being used as a platform on which to hedge crypto and not much else. To the question, what is the impact that the blockchain will have on the betting market, the answer, based on what we have seen so far, is none. If the fate of a new technology can really be predicted through observing the way that it is adoped by the gambling and porn industries, then the blockchain/crypto axis can be said to be on life support. As of the morning of 14 August 2018 Augur Rep is trading down 26.87%% at $15.75 USD . The cryptocurrency of rival blockchain prediction market Gnosis is currently trading down 10% at $29.44 USD (down from a year high of $449.23 USD). Crypto Blipto (= when beliefs regarding crypto projects are distorted by collective wishful thinking.)
It is simply astonishing that The Economist should see fit to write an article on Augur a company that had according to DappRadar only 41 users in
the past twenty four hours. Moroever, simply ludicrous to see Kevin Werbech quoted as saying that the project is a worthwhile exploration.
US Betting Market Latest
It is becoming increasingly clear that the newly regulated US betting market will be fiercely competitive. As per usual, early forecasts of a bumper bonanza for UK and Ireland based betting companies have been pared back. This is not surprising when one considers that nobody has, or indeed, can have, any understanding of the structure of the environment that they are going to be trading in. Which states will permit sports betting in a retail environment and which states will permit only online sports betting? Fierce competition equates to increased marketing costs and ultimately to reduced profitability for everyone.
Concern yourself with things before they come into existence. (Tao Te-Ching).
Source: N=All 25/05/2018. * = Stamina Dam Side