XT.com launches World Cup 2022 Prediction Market

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Updated November 21, 2022 | Published November 21, 2022

2 mins read

The product has a one-click interface for beginner traders, as well as a detailed platform for experienced ones.

XT.com has launched its World Cup 2022 Prediction Market, which offers two distinct interfaces – one for inexperienced traders, and another for advanced ones.

The former offers one-click trading, while the latter is built like a specialized futures trading platform.

XT.com advised its users to check if they have activated their derivatives trading account in their profiles. If they have, the next step would be to transfer funds from their Spot account into their USDT-M futures account. This is how users can start using the market.

Both interfaces of the prediction market use the same naming scheme: Wcup2022[Team 1]v[Team 2] in which the names of the teams are the abbreviated names of the country they represent. For example, a match between France (FR) and Australia (AU) would look like Wcup2022FRvAU in the market’s interfaces.

Purchasing contract units for this match (including leverage) at a certain price doesn’t mean that’s the price at which your investment stands, though. The prediction market is a “zero-sum game” – one party has to lose, in order for the other to gain.

This means that there’s a huge opportunity for gains, but also significant risks involved, so devising two separate interfaces really lowers the bar for entry, opening up the platform for a huge number of users.

This is especially important, as wagering on the FIFA World Cup 2022 is expected to exceed the $130bn levels estimated in 2018.

The FIFA World Cup 2022 has been behind many products enabling fans to support their favorite teams, bet on their success, or simply make a calculated investment with crypto.

World of Doge announced its own World Cup Doge Web3 betting platform, to enable fans to place bets on matches with their own funds by purchasing WCD tokens.

UBET Sports’ World Cup Betting Tournament (WCBT) is another product based on a decentralized sportsbook, that enables sports fans to place their crypto bets, and the WCBT is already accessible in UBET’s testnet.

If that’s not enough fun for players, there’s also still time left to crypto casino BC.Game’s Coco’s Carnival portal for a chance to win $2.1m or a Tesla electric vehicle.

Those who want to have a chance to win from the extra $100,000 prize pool must submit their FIFA World Cup predictions before November 26.

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Written by Kyamil Nasuf

Reporter

Kyamil is a big tech fan, who loves hummus on everything and has enjoyed writing from a young age. He's had experience in writing anything from essays, through personal art, to news pieces and more serious tech analysis. In recent years he’s found fintech and gambling collide with all his interests, so he truly is a great fit to our team.
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