How much exposure do Sportsbook have to Cryptos?

[hazliam]

Can a large drop in Crypto pricing cause sportsbook to go belly up?

 

[BobbyFK]

I highly doubt it

 

[chilidog]

I don't know about other books, but the book I worked out didn't keep any crypto exposure. They had 1 trader whose main job was to trade crypto, mainly into the stable coins like Tether and USDC. But he had a small portion that he was able to trade with to make the company money.

 

[BMR Genie]

Sportsbooks should already have their contingency plan ready in case this happen.

 

[pokerdevil]

All I know is that when BTC crashed from $20k to sub-$4k, and BCH from $4.3k to $75 (which was insane, December 2017 to December 2018), none of the offshores went out of business.

I assume they keep some exposure to crypto, but I suppose if you're already printing money then the sensible thing to do (from the books' perspective) is to stay 95-100% in USD.

 

[Iw1nCashFlow]

I highly doubt it

 

[Orbison]

pretty sure the vast majority settle all of their transactions immediately into USD. they're in the bookmaking business not currency speculation