Bookmakers, as a rule, are associated with bets on the results of various sports games. However, bets on currency exchange rates may also fall into this group. How is this different from playing on the stock exchange or the Forex market? Online sportsbooks offer their users financial bets. But instead of buying or selling various currencies, gamblers place bets on the rates of one currency against another. It is also possible to bet on fluctuations in stock exchange rates, such as Dow Jones or Nikkei, as well as on securities prices. In this article, we will tell you how to bet on financial market moves.
Betting on financial market moves in 2020
In online sportsbooks in the USA, forecasts of exchange rates are most widespread. Indeed, there are many currency pairs in financial betting. The most popular are the Euro-Dollar, Pound-Dollar, Yen-Euro, Swiss Franc-Dollar, Pound-Swiss Franc. Moreover, forecasting fluctuations in exchange rates is a very exciting business. Currency rates change almost every minute, therefore, once a minute you can get a win if you make a correct forecast.
Remember that many factors influence currency rate fluctuations. These are mainly those factors that are associated with the economic activities of states. The main factor that affects the exchange rate is the policy of the country’s National Bank. Indeed, it has many options for managing the exchange rate for both the short and long term. Another of the most important economic factors is the country’s trade balance.
This factor is characterized by the ratio of exports and imports of goods. Thus, the more a country sells goods, the higher this indicator. Indeed, the trade balance is responsible for the stability of the exchange rate. The closer it is to zero, the more stable the exchange rate is. For example, you can look at Currency Rate Predictions for the last year so that you will better understand this market.
Besides, macroeconomic indicators of the state also affect currency rate fluctuations. These include the unemployment rate, the size of the gross domestic product, the rate of inflation, etc. Each of these factors affects the exchange rate separately. For example, when inflation is high, there is a depreciation of the national currency. But when unemployment is low, strengthening often occurs. So let’s take a closer look at how to bet on financial market moves.
Basic betting options
Various options are popular among players – it all depends on the experience and passion of each person. Still, the main ones are “One Touch” and “Long-term”. Their popularity is based on transparency and simplicity, making the options available even for beginners. Let’s consider how to bet on financial market moves.
Betting on financial market moves: “One Touch”
This is the most affordable option of all financial betting. The first step is to choose the pair you are going to play. For simplicity, you can choose the euro against the dollar. Then you make a forecast that on a specific day, their ratio will reach a level, for example, 1.33. The system assesses the probabilities as far as possible of the implementation of the declared contract according to various parameters. Then, you confirm the bet and the game starts.
If during this week the attitude on any day touches the selected date, at least once, you win. Thus, you can safely receive your money. This option attracts a lot of players due to its elementary nature. It does not require much understanding of complex concepts and terms.
The advantage of financial betting is the possibility of varying rates, their corridor is in the range from 5 to 5,000 US dollars. Besides, the risk associated with rates is significantly less than the risk associated with the direct purchase of currency. Another advantage of betting is the ability to enter into various contracts, initially practicing on simple variations. Having understood all the intricacies of the game, it makes sense to move on to more complex options associated with increased profitability and risk. But first, start practicing at Bet Online.
Some newbies find One Touch a rather risky option. In this case, it is recommended to use the Binary Option contract. The principle of this option is simple. Thus, throughout the day, currencies fluctuate relative to each other. Choose whether the rate of the selected currency pairs will rise or fall. For example, they made a bet that the British Pound rate would strengthen against the Swiss Franc. Binary options are simple, and even a person who does not know anything about the currency markets is comfortable to play here. Check the latest USD to UAH Exchange Rate Forecast to better understand how to bet on financial market moves in the online sportsbooks in the USA.
Betting on financial market moves: What is the danger?
Experts note that online currency bets, on the one hand, have a lot in common with binary options. But on the other hand, they are ordinary betting transactions that, according to the law, cannot be challenged in court. Such transactions represent a simplified version of binary options, although they are not directly related to the Forex market. All bookmakers simply broadcast changes in the quotes of brokers on this market. And since the participants in the game do not become owners of real assets, their activities are not regulated by anyone. Thus, it does not require online sportsbooks in the USA to have a license from the National Bank.
The player who comes to the bookmaker takes serious risks. Thus, in the absence of mechanisms that can limit one’s losses in case of failure, a gambler can only rely on his luck – like a casino visitor playing roulette. If in the real market a trader can set a protective rate or manually close a position, when the circumstances began to develop negatively, then when making a bet with bookmakers, a player is deprived of such an opportunity.
Betting transactions are regulated by federal legislation on gambling. In the event of a conflict situation, the injured player can try to settle all disagreements either with the bookmaker itself, or seek help from one of the self-regulatory organizations. But in the Bet Online sportsbook, you can be sure nothing like this will happen. Learn how to bet on financial market moves and start making real money. Good luck!