Cryptocurrency Gambling and Amateur MMA – is it just wrong?
In the unregulated business of Bitcoin, Dogecoin, DASH and other cryptocurrencies one must ask the ethical question about gambling in amateur sports, that which includes Mixed Martial Arts. Currently there are no regulations.
So would the sport of MMA stand to add a little excitement for the amateur ranks should these coins be utilized for betting on local fighters? Or would gambling in the amateur ranks tarnish the amateur aspect? It’s an ethical question yet it is worth examination.
Currently you can bet on about any sport with Bitcoin or other cryptocurrencies, and it isn’t just limited to the UFC. Throughout sports history there has been controversy as it relates to betting, to controversial in fact, that it haunts Pete Rose (baseball) to this day. But at least he bet on his own team, right?
The sport of boxing – has seen some controversial decisions, on a pro level, enough for me to withdraw for over a decade. One must ask if the protection was for the fighter’s record or to protect the Vegas oddsmakers. Either way, the outcome benefited the oddsmakers, and that’s on a pro level, and again that’s the sport of boxing. As much as they try to hype that sport, it never really came back, and I believe it’s because of the corruption that has been seen over the last few decades. The sport is blemished to this day while I believe it can in fact be traced to gambling.
But cryptocurrency is different. MMA is different. Amateur ranks are different, and all of this opens up the door in deregulation to bet on the local fights and make it more interesting. Nobody says the fights would be thrown, at least they shouldn’t be on an amateur level. I mean, what’s a few Doges?
Before talk of regulating Bitcoin, realize the potential if not underground potential, or even at ringside. Think of the business opportunity that could be ushered in be it at the local casinos or where the ring may be. Taking the bets ringside, at the venue would give fans the opportunity to place a wager n their local fighters and make it more interesting, not just for bragging rights. Add in some online marketing in advance, a few locals might get noticed, while sponsorship may come about via cryptocurrencies and their ancillary businesses that accompany them. It’s not so much a stretch, certainly not as much as it is an ethical question.
Like anything, with freedom comes responsibility, especially in the open source nature of Bitcoin and cryptocurrency and we should all be vigilant in policing our own interests for the purpose of integrity, that includes sports, MMA, betting, and cryptocurrency.
Now imagine the opportunity to sell cryptocurrency for a profit right at the venues, the ability to place your bet right there via the phone or a laptop (kiosk maybe??) or to be the oddsmaker in the decentralized market of Bitcoin, complete with odds for KO Knock Out, Submission, or just a straight across bet.
The question is, is this ethical for Amateur MMA? Would you support the possibility on an amateur level for the very reason that it is unregulated? Or is the question really, what’s a few Doges? The best part is we can decide for ourselves and we don’t need regulation to decide, as it is unregulated. I mean what’s a few Doges to bet on a local contest for the belt or to bet on your friend or bet with the rival gym?