Back in May 2018, Plus 5000, a company based in Ireland, launched its platform and app. As the name suggests, the app allows users to place bets on the outcome of events such as sports games or the national elections. The public were invited to participate in the beta test of the app and the early access to bet on these events was very generous – you could have placed a $100 bet on the iPhone app without any issues.
The concept behind Plus 5000 is quite simple: offer people that love sports betting a place to indulge their hobby while also getting access to exclusive features and betting markets.
Plus 5000’s success was almost instant: within its first month of operation, it reportedly processed $20 million in bets. Since then, the company’s value has more than doubled to $48 million. That’s impressive growth for a business that started with just an app in 2018.
How Does it Work?
If you’re unfamiliar, sports betting is one of the most popular forms of betting. Gamblers and sports enthusiasts around the world wager on the result of sports games. For example, they might bet on – or against – the home team in the case of a football game. Or, they might bet on which political party will emerge as the next government in a country like the UK.
Placing a bet on sports is easy – you make a prediction for the match (or event), enter a corresponding stake and await the result. If you’re correct, you win your bet. If you’re incorrect, you lose it.
In Ireland, where Plus 5000 is based, sports betting is legal; it’s also been part of the country’s culture for years. The Irish people are known for their passion for all things sporting and it seems that they’ve embraced the concept of sports betting apps. Almost 9 out of 10 people in Ireland use some form of sports betting app or website, with Plus 5000 leading the way.
Why Should You Get Involved?
If you’re a betting enthusiast looking for a new way to indulge your hobby, you should look no further than Plus 5000. Not only does it offer a place to indulge your passion for sports in a responsible manner, but it also connects you with a worldwide community of like-minded people who share your interests. And what’s more, you can enjoy all these benefits while being part of a regulated market, protected from the fluctuations that can affect the “traditional” (or not-so-traditional) markets.
Regulated markets can be a great place to store your wealth, particularly during times of global uncertainty. However, maintaining a large sum of money in a binary option, or short-term, profit-oriented environment isn’t for everyone. That’s why incorporating a little bit of investment, or long-term thinking, into your betting canny is advisable.
There are several different ways to make money from betting. Some people choose to simply wager what they can afford to lose, while others choose to risk more to win more. You can go through a reputable broker and find structured hedging products with an investment component that you can use to hedge your bets. Alternatively, you can use a bit of leverage (shorting) to your advantage and ride the wave of success when your predictions come true. You can also try using CFDs (contracts for differences), which are a type of derivative that allows you to speculate on the price movement of a particular asset, without actually owning the security.
What Is CFDs and Why Should You Get Involved?
CFDs are great for people who want to speculate on the price movement of a particular asset or index. The advantage of CFDs is that they give the appearance of investing without the hassles of actually buying the security. In other words, you don’t have to worry about the asset’s performance in the short term – you just have to predict what will happen in the future.
The CFD must meet certain criteria to make it worthwhile. For example, the underlying asset (e.g., a stock, currency, commodity or index) must be available for trading. Also, the CFD’s payout structure must match up with your risk profile – you want the flexibility to profit, but you also want to limit your losses.
One of the most popular CFDs with a high demand in Ireland is the £/€ spot rate for the SSE Composite Price Index. This is because of the country’s regulations regarding binary and sports betting. While the UK government has banned sports betting, companies can operate in Ireland as long as they abide by the country’s regulations.
Will This App Change Your Life?
It’s always difficult to say what will transform your life. However, if you’re looking for a new way to enjoy your free time, get involved in some high-quality day trading, or add some excitement to your political debates, you should try out Plus 5000. The company has created a new market for people who love sports betting – and maybe even a new way of life for some.