The article shows an excellent understanding of gambling and financial markets, but it's let down by the author's surprise about the terms of the "ETH over 500"

The article shows an excellent understanding of gambling and financial markets, but it's let down by the author's surprise about the terms of the "ETH over 500" bet. This is a variation of a quanto future, which is well known and well understood in derivative pricing circles (see Wikipedia link). If you can price ETH/USD options, you can price this. Possibly it should be called a binary quanto. https://en.wikipedia.org/wiki/Quanto https://en.wikipedia.org/wiki/Quanto