Sports Event Trading is a CFTC-regulated derivatives trading feature available in the Crypto.com App and on the Crypto.com Web.

It presents you with a straightforward Yes/No decision based on whether you believe an outcome of a sporting event will occur. If you believe the outcome will occur, you can select “Yes” to trade contracts and open a position. Otherwise, you can choose “No.”

After the event is resolved, you will receive a US$100 payment for each contract you own if you are correct. If you are incorrect, you will lose the amount you paid to open the position and nothing more, allowing you to know your potential gains and losses upfront.

Yes. Sports Event Trading is offered by Crypto.com | Derivatives North America (CDNA) and is subject to US regulatory oversight by the Commodity Futures Trading Commission (CFTC).

The contract specifications for the respective events can be found in the product filings below:

Crypto.com | Derivatives North America opens Sports Event Trading when the contracts are listed, expiring on the respective event dates.

Scheduled maintenance takes place from 16:15 to 23:00 EST every Friday. During this period, Sports event contracts are not available for trading. If you have an open position during this period, your position remains open and can only be traded after the scheduled maintenance period is over.

For all the latest updates, holiday schedules, and contract availability, please see the Holiday and Hours page and the Notices page on the Crypto.com | Derivatives North America website.

To trade Sports event contracts, you need to set up an account with Crypto.com | Derivatives North America. To do so, follow these steps in the Crypto.com App or Web:

Sports Event Trading is a fully collateralized trading product. You need to have sufficient funds in your USD Fiat Wallet to trade. The calculation for your available balance may include unsettled funds (i.e., via Instant Deposit). Visit our Help Center for more information on USD deposits with Wire Transfer and ACH Direct Deposit and how you may use Instant Deposit for trading Derivatives.

Alternatively, you can use Crypto Funding to instantly convert your preferred crypto to USD to trade. This feature currently supports all over 350 tokens in the Crypto.com App and Web, including BTC, ETH, and CRO.

To open a position, simply select the outcome you think will occur for an event and confirm the number of contracts you wish to trade. You can increase, open, and close positions before the event starts.

If your position matches the event outcome, you will receive a US$100 return for each contract you own, excluding fees. If your position does not match the event outcome, you will receive $0.

Notes:

A position limit defines the maximum aggregate position you can hold per Sports event contract.

The position limit is 2,500. This means you can have a maximum of 2,500 open positions for each Sports event contract at the same time.

The orders you submit to trade Sports event contracts are Market Orders (“MO”) with protection on an Immediate-or-Cancel (“IOC”) basis.

An MO with protection is a request submitted to buy or sell a set number of Sports event contracts at the displayed indicative price when the order is submitted.

In the event that the displayed indicative price is no longer available when Crypto.com | Derivatives North America receives the order, the MO with protection order will be acceptable to fill within the set slippage tolerance. See the ‘What is Slippage Tolerance?’ section for more information.

An IOC order demands immediate execution or cancellation. It can be filled in whole or in part, with any remaining quantity automatically canceled. This is also known as a “partial fill.”

Slippage Tolerance allows your trade to be completed even if the contract’s price moves from the time you place the order to the time it is executed. It is a predetermined number of points, expressed as a dollar value, away from the displayed indicative price that will be acceptable to fill the MO with protection.

If the contract’s price movement is within the tolerance and either the full or partial order quantity can be filled, your order will be executed on an Immediate-or-Cancel (“IOC”) basis. If the contract’s price movement exceeds the tolerance, your order will not be executed because no order quantity can be filled in this case.

Slippage Tolerance for Sports event contracts is set at $1.00 per contract and cannot be adjusted at this time.

When the market has insufficient liquidity, it means there is no party offering to match the other side of your order. You will either see that there are no price quotes available to place your trade or that your trade will not be executed.

Simply put, if you want to buy a contract, there must be another party selling it to match your purchase order, and vice versa.

Expiry Time: As the expiry time of a Sports event contract approaches, fewer parties, or none at all, may be willing to take on the less desirable side of the trade.

When there is insufficient liquidity to close your position, there is no Price to Close, and your Unrealized PnL cannot be calculated.

You can open a position anytime before the event begins.

Follow these steps to open a position:

You will receive an in-app notification once your order is filled or rejected.

Before placing your trade, you will see the Estimated Total amount on the Order Input page.

The Estimated Total is the Contract Price multiplied by the Contract Quantity plus fees. Please note this amount is not final, as slippage may result in the actual total being higher. This amount, including slippage, will be held in your USD Fiat Wallet until your order is filled or rejected.

When your order is filled, the actual amount you paid (the Actual Contract Price plus fees) will be reflected in your Order History page.

Your maximum loss is the cost you put into the trade, including fees.

The contract price for an outcome you think will occur (i.e., “Yes”) is $19.00. The Slippage Tolerance is fixed at $1.00 per contract. You decide to open a position for 10 contracts.

The Estimated Total displayed will be:

(Contract Price + Exchange Fee + Technology Fee) ✕ No. of Contracts Traded

= (19.00 + 1.00 + 0.99) ✕ 10

= $209.90

This is an estimation, as the actual amount may be higher because of slippage. A hold is put on your USD Fiat Wallet for the amount, including possible slippage:

Estimated Total + (Slippage ✕ No. of Contracts Traded)

= 209.90 + (1.00 ✕ 10)

= $219.90

When your order is executed, the Actual Amount you pay will be based on the Actual Contract Price for the position of 10 contracts:

(Actual Contract Price + Exchange Fee + Technology Fee) ✕ No. of Contracts Traded

= (19.00 + 1.00 + 0.99) ✕ 10

= $209.90

Your USD Fiat Wallet is debited this amount.

The contract price for an outcome you think will occur (i.e., “No”) is $65.00. The Slippage Tolerance is fixed at $1.00 per contract. You decide to open a position for 10 contracts.

The Estimated Total displayed will be:

(Contract Price + Exchange Fee + Technology Fee) ✕ No. of Contracts Traded

= (65.00 + 1.00 + 0.99) ✕ 10

= $669.90

This is an estimation, as the actual amount may be higher because of slippage. A hold is put on your USD Fiat Wallet for the amount, including possible slippage:

Estimated Total + (Slippage ✕ No. of Contracts Traded)

= 669.90 + (1.00 ✕ 10)

= $679.90

When your order is executed, the Actual Amount you pay will be based on the Actual Contract Price for the position of 10 contracts:

(Actual Contract Price + Exchange Fee + Technology Fee) ✕ No. of Contracts Traded

= (65.00 + 1.00 + 0.99) ✕ 10

= $669.90

Your USD Fiat Wallet is debited this amount.

You can close your position anytime before the event begins or before the contract is settled.

Follow these steps to close a position:

Your position will be closed when the contract expires because of one of two scenarios:

Before the event begins, the contract for it will expire. The contract will be settled within 24 hours after the event ends and the result is determined. You receive a US$100 return per contract if the outcome matches your trade and nothing if it does not.

Your contract may expire prior to the event starting if the outcome has no likelihood of occurring.

For example, if a team is eliminated during a playoff match, the contract will expire out-of-the-money before the final match. You receive a US$100 return per contract if the outcome matches your trade and nothing if it does not.

You closed the whole position at a price of US$32.00 per contract. The amount you will receive is:

(Closing Price - Exchange Fee - Technology Fee) ✕ No. of Contracts Traded

= (32.00 - 1.00 - 0.99) ✕ 10

= $300.10

Assuming you opened the position of 10 contracts earlier at a price of US$19.00 per contract. The amount you paid was:

(Actual Contract Price + Exchange Fee + Technology Fee) ✕ No. of Contracts Traded

= (19.00 + 1.00 + 0.99) ✕ 10

= $209.90

Your Realized Profit/Loss is the amount you receive less the amount you paid

= 300.10 - 209.90

= $90.20

Alternatively, you may also calculate your Realised Profit/Loss by comparing the prices you opened and closed your position at and accounting for fees

[(Closing Price - Actual Contract Price to Open) - 2 ✕ (Exchange Fee + Technology Fee)] ✕ No. of Contracts Traded

= [(32.00 - 19.00) - 2 ✕ (1.00 + 0.99)] ✕ 10

= $90.20

The contract expires, and the outcome matches your trade. You will receive a US$100 return per contract. After deducting fees, you will receive:

($100 Return - Exchange Fee - Technology Fee) ✕ No. of Contracts Traded

= (100.00 - 1.00 - 0.99) ✕ 10

= $980.10

Assuming you opened the position of 10 contracts earlier at a price of US$19.00 per contract. The amount you paid was:

(Actual Contract Price + Exchange Fee + Technology Fee) ✕ No. of Contracts Traded

= (19.00 + 1.00 + 0.99) ✕ 10

= $209.90

Your Realized Profit/Loss is the amount you receive less the amount you paid

= 980.10 - 209.90

= $770.20

Alternatively, you may also calculate your Realised Profit/Loss by comparing the prices you opened and the US$100 return per contract, accounting for fees

[($100 Return - Actual Contract Price to Open) - 2 ✕ (Exchange Fee + Technology Fee)] ✕ No. of Contracts Traded

= [(100.00 - 19.00) - 2 ✕ (1.00 + 0.99)] ✕ 10

= $770.20

The contract expires, and the outcome does not match your trade. You will receive US$0 per contract.

Assuming you opened the position of 10 contracts earlier at a price of US$19.00 per contract. The amount you paid was:

(Actual Contract Price + Exchange Fee + Technology Fee) ✕ No. of Contracts Traded

= (19.00 + 1.00 + 0.99) ✕ 10

= $209.90

Your Realized Profit/Loss is the amount you receive less the amount you paid.

= 0 - 209.90

= -$209.90

You can only lose the amount you put into your trade, not more.

The following fees are charged for each contract of a Sports event trade:

Sports Event Trading is currently available in the United States only.

Is Sports Event Trading legal?

Sports Event Trading is regulated by the Commodity Futures Trading Commission (CFTC), and it is legal to trade Sports event contracts on a CFTC-regulated exchange like Crypto.com | Derivatives North America.

What's the minimum amount I can trade in Sports event contracts?

Sports event contracts are priced between US$0 and US$100.

Why am I not able to trade a contract when it is nearing expiry?

As a contract nears its expiration, there may be insufficient liquidity in the market, resulting in unavailable price quotes to complete a trade.