Crypto bettors divided on Paul vs. Tyson fight, Cloudbet data shows
Willemstad, Curaçao, Netherlands, November 14th, 2024, Chainwire
Leading crypto sportsbook Cloudbet reports a stark divide among bettors ahead of the highly anticipated Mike Tyson vs. Jake Paul boxing match, set for November 15th at AT&T Stadium in Arlington, Texas. While nostalgia is driving many to back the legendary Tyson, who officially retired from competitive fighting in 2005, others are strategically hedging their bets on the younger Paul, currently the favorite at 1.41 odds.
Although Paul has the edge according to oddsmakers, Tyson is seeing significant support from bettors willing to take a risk – placing bets as high as 4.02 odds to win ‘Cloudbet Opinion’, a barometer of real-time bets placed on the platform, shows more bettors have pegged Tyson to win.
“It’s clear that most crypto bettors are betting with their hearts rather than looking at the numbers,” said a Cloudbet spokesperson. “Mike Tyson’s age and health issues are huge concerns ahead of the fight. Pundits are saying the only chance for ‘Iron’ will be an early knockout, and some bettors are clearly romanticizing the idea, putting their faith in Tyson to turn back the clock.”
Betting on the fight is typical in many ways: some bettors spread their wagers across multiple outcomes to boost their chances of a return, and others build multi-sport parlays to increase potential payouts. This matchup has attracted bettors who usually focus on other sports.
The spokesperson says: “This fight is kind of a fascinating case study in sports bettor psychology, with nostalgic favoritism for Tyson coming up against more analytical assessments of Paul’s chances. The hedging strategies we’re seeing really underscore the unpredictable nature of what will transpire in the ring.”
The recent surge in the price of Bitcoin, which surpassed $90,000 on Wednesday, has coincided with an increase in betting activity for the upcoming boxing match.
“A lot of folks who have profited from the recent bitcoin boom are now looking to bet on what is being called one of the most significant boxing events in recent history. The all-time high values of bitcoin are giving people a lot more disposable income, and they’re using some of that to raise the stakes on a fight they can’t wait to watch anyway,” noted the spokesperson.
About Cloudbet
Founded in 2013, Cloudbet is the longest-running crypto-betting platform in the world. It has processed millions of bets across its sportsbook and casino platforms, serving hundreds of thousands of users globally. As a licensed operator, Cloudbet maintains institutional-grade custody solutions and a decade-long track record of zero security breaches.
Players can bet using 35+ cryptocurrencies, from Bitcoin and Ethereum to stablecoins and emerging altcoins. Available in 18 languages, Cloudbet features live sports betting across major leagues, esports, and 3,000+ casino games from premier providers.
For media inquiries, odds requests, and further information, users can visit media.cloudbet.com.