I would think it would. Its a stock so its volatile. I would read up on coinbase and see if it gets locked in at a certain price but I dont think it does. It would be best to put it in your bank account as soon as it hits Coinbase. One thing I saw mentioned in another thread is to use Poloniex or blockchain to wash your money. In other words dont pass bitcoins between Coinbase and the sportsbook. Use another wallet between them.
Deposit money to Coinbase from bank account.
Buy bit coins through Coinbase
Transfer bitcoins from Coinbase to Blockchain/Poloniex
Transfer bitcoins from Poloniex/Blockchain to sportsbook
And vice versa
This way your money isnt traced back to the sportsbook. If you search the forums for bitcoin, there will be a few threads on this.
Just checked Coinbase. The price you buy your bitcoins is locked in so once you transfer it to the sportsbook, you are getting the equal amount you paid. When the sportsbook transfers it back to you, it will be what ever bitcoin is worth at the time so its still the same thing. If bitcoins are $500 and you deposit it in you sportsbook, you get $500. If the price goes to $100 per bitcoin when you cash out and you cash out $500, you will get 5 bitcoins. If you use Poloniex which is an exchange, the price will fluctuate immediately. You can hold them in the exchange and sell at a high price or buy when its low. Its a stock so you can make money or lose money.
