Gamers who wish to wager on NCAA and NFL soccer however don’t wish to do it with a regulated sportsbook have a brand new possibility this week as Robinhood rolls out its new soccer prediction markets. It’s a brazen transfer from a nook of the monetary world that’s labelled sports activities betting as an funding car and created actual complications for regulated sports activities betting operators.
Buyers (not bettors) can at present place predictions (not wagers) on a specific slate of NFL and NCAA soccer video games scheduled for the primary three weeks of the season. Robinhood has made it clear that it intends to supply prediction alternatives for the entire NFL and NCAA schedules by week 4 of the season.
Robinhood is leaping on a bandwagon within the predictions market world that regulated sports activities betting operators are determined to cease. In spite of everything, the monetary and bureaucratic limitations concerned with organising a regulated sportsbook are a lot greater than merely labeling your operation as a “predictions market” and working beneath a a lot much less rigorous regulatory scheme.
JB Mackenzie, VP & GM of Futures and Worldwide at Robinhood stated as a lot in a latest press launch stating, “Soccer is much and away the preferred sport in America. Including professional and faculty soccer to our prediction markets hub is a no brainer for us as we goal to make Robinhood a one-stop store for all of your investing and buying and selling wants.”
And simply in case any clients discovered themselves at Robinhood pondering that they have been going to position a guess on a recreation, somewhat than a prediction on a commodity, the corporate’s web site features a useful reminder stating, “Robinhood occasion contracts enable for hypothesis in prediction markets — these are usually not bets.”
