The 2020 Summer Olympics slated to be held in Tokyo last year where understandably postponed due to the corona virus pandemic which ravaged the globe. Despite this, the IOC and the organizers in Tokyo are optimistically planning to go ahead with the summer games, and preparations for mitigating the risks associated with the pandemic are well under way. The big question is, will everything go as planned this time?
What is being done?
According to Kyodo News:
The Japanese government has, as in 2020, re-arranged several national holidays to create a 4 day long weekend in July to coincide with the opening ceremony. July 23rd is the planned opening day.
The torch relay is set to commence on March 25th, with additional social distancing precautions for participators and spectators.
Athletes will be allowed to enter Japan once the current state of emergency is lifted (March 8th), but will in principle be restricted to hotels and training facilities, which is a reasonable requirement, as vaccination is not currently being mandated.
On March 3rd officials from the IOC will meet to discuss the possibility of allowing spectators at the events.
What could go wrong?
An explosion of cases in Japan that spirals out of control could potentially force a second halt on the Olympic plans, but with over a year to prepare, as well as treatments and vaccines becoming more widely available, this is highly unlikely.
Athletes and various governments may deem it unsafe to addend the games, but thus far there have been no calls for abstaining from the games, and it would take an overwhelmingly large majority of athletes to be absent to force another cancellation.
What does this all mean for crypto enthusiasts?
Well, FTX Exchange recently launched a prediction market for whether the Olympics will be held in 2021. The contract will expire to a value of $1 if yes, and $0 if no. It is currently being traded for $0.60, essentially saying this is saying that there is a 60% chance the Olympics will go on as planned. In my opinion the odds are much better than that.
If you agree with me, and would like to take advantage of this betting opportunity, please consider signing up with FTX exchange using my referral link, to get 5% off your trading fees.
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https://www.publish0x.com/the-good-things-in-life/the-next-big-exchange-xzwppep
Do understand, that nothing is a foregone conclusion, and this is very much still a gamble, so as with anything crypto related, only put up the money you can afford and are prepared to lose.
In conclusion
This year's Olympics will almost certainly go ahead, and just as certainly will be nothing like the games we have seen in the past. Starting with the NBA's 'bubble' we've seen that it's not impossible to continue to hold large scale sporting events in the post-corona world. I don't think this year's Olympics will be attended by live spectators, instead I expect a greater than ever degree of virtual fan interaction. How do you foresee the Olympics playing out? Do you believe there is still a possibility for them to be cancelled at this point?
Thank you for reading, and remember to enjoy the good things in life!
