Bitcoin Prediction Market has created betting markets around the mining contest, enabling people to bet on who wins and who loses.

Mining is essentially a globally decentralized provably probabilistic computational race. Pool centralization poses a big censorship threat to the Bitcoin network. Betting markets enable hashrate hedging, empowering miners to join smaller pools with higher variance. Providing liquidity to the market by betting can be profitable and help catalyze mining pool decentralization.

Miners can hedge against the risk of losing the race. They can do this by betting against their own pool, or on a dominant pool like Foundry or Antpool. Speculators can make money by predicting which pool will win, based on their hashrate.

In the past, miners could only make money by winning the contest, and speculators could only make money by betting on price. Now, everyone can profit from every single block.

Learn more and read the whitepaper here-

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Source and link to Reddit topic: Bet on which pool mines the next block- brilliant new concept.