Gambling and Sports Betting News Wire - June 29, 2019

Written by:
C Costigan
Published on:

Here are today's headlines in the world of gambling and sports betting as they happen - Saturday June 29, 2019.  (for the remainder of this month ONLY)

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Weekend's Are the Wild West for Bitcoin

10:11 am ET - As the price of Bitcoin inches closer back above the $12,000 mark, Bloomberg writes that Saturday, Sunday surges account for more than a third of Bitcoin gains, and nobody seems to know why.

“It’s absolutely unique,” said David Tawil, president of crypto hedge fund ProChain Capital.

“It’s a little bit of anticipatory or front-running the news cycle by trading up on the weekend,” he said. “You’re somewhat flying blind in the sense that you don’t know if there will really be an announcement made on Monday morning but in a packed news cycle like crypto, where there’s developments really every day, I don’t think it’s wrong to bet that Monday morning would have a positive development.”

Bloomberg writes that, alternatively, crypto investors might spend Saturday or Sunday discussing any news items with friends or other investors, moving them to trade the underlying tokens.

“The market is, by and large, retail individuals and I think that weekends are a time when those people have more free time to read the week’s news, to chat with friends, to pitch friends on exciting things they heard about during the week,” said Hunter Horsley, chief executive officer of Bitwise Asset Management.

Lakers Move to From +300 to +175 to Win it All in 2020

10:11 am ET - Dave Mason of BetOnline Saturday morning announces monumental shift in the LA Lakers odds of winning the 2020 NBA Championship.

Their odds have moved from 3/1 to just under 2/1 (+175).

These are the latest odds as of June 29 to win the 2020 NBA Championship at BetOnline:

22214     Los Angeles Lakers         +175     
22217     Milwaukee Bucks         +800     
22210     Golden State Warriors         +1000     
22213     Los Angeles Clippers         +1000     
22228     Toronto Raptors         +1000     
22211     Houston Rockets         +1200     
22208     Denver Nuggets         +1400     
22202     Boston Celtics         +1600     
22223     Philadelphia 76ers         +1600     
22229     Utah Jazz         +1800     
22203     Brooklyn Nets         +2800     
22207     Dallas Mavericks         +3300     
22221     Oklahoma City Thunder         +3300     
22225     Portland Trail Blazers         +3300     
22212     Indiana Pacers         +4000     
22219     New Orleans Pelicans         +5000     
22227     San Antonio Spurs         +5000     
22220     New York Knicks         +6600     
22226     Sacramento Kings         +6600     
22201     Atlanta Hawks         +10000     
22218     Minnesota Timberwolves         +10000     
22205     Chicago Bulls         +15000     
22215     Memphis Grizzlies         +15000     
22216     Miami Heat         +15000     
22222     Orlando Magic         +15000     
22224     Phoenix Suns         +15000     
22230     Washington Wizards         +15000     
22206     Cleveland Cavaliers         +20000     
22209     Detroit Pistons         +20000     
22204     Charlotte Hornets         +25000    

Our Free Picks Record June 29

2019 MLB Record: 17-12-2 (58.6%) - No Plays Over -160

2018-19 College Basketball Record: 12-9 (57.1%)

2018-19 NBA Record: 7-5 (58%)

2018 MLB Record: 45-35 (56.2%)

2018 NBA Record: 12-4-1 (75%)

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FanDuel Denies Gambling911 Story About Voided Bets

Gambling 911 reported last week that FanDuel had violated its own official sports betting rules a week earlier when it voided proposition bets on an NBA player who played minimally in a game, but did not do so for another player in a similar situation.