Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and appeals to sports wagering enthusiasts. Polymarket functions without regulation, runs on blockchain technology, and specialises in forecasting political outcomes and real-world developments. When it comes to European political forecasting markets, Polymarket stands out for market depth and selection breadth.
Across Europe, two platforms command the prediction market landscape: Betfair (the established betting exchange pioneer) and Polymarket (the blockchain-powered forecasting platform). What distinguishes them?
At a glance
| Feature | Polymarket | Betfair |
| Founded | 2020 | 2000 |
| Regulation | Unregulated (decentralised) | FCA, Malta, Gibraltar licensed |
| Currency | USDC (stablecoin) | GBP, EUR, AUD |
| Market types | Politics, crypto, science, culture | Sports, politics, entertainment |
| Fees | ~2% (spread-based) | 2–5% commission on winnings |
| Deposits | USDC, MoonPay | Card, bank transfer, PayPal |
Where Polymarket wins
- Political markets: Polymarket commands superior market activity surrounding US presidential contests, European legislative races, and international crises relative to Betfair
- Transparency: Blockchain-verified outcomes are publicly auditable; Betfair's settlement procedures lack comparable visibility
- Market variety: Digital asset valuations, technological breakthroughs, academic milestones — categories absent from Betfair's offerings
- No bookmaker margin: Participant-driven pricing replaces house-built spreads
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's principal advantage; Polymarket provides minimal coverage of active sporting events
- Fiat deposits: Betfair eliminates the necessity of understanding cryptocurrency mechanics
- Regulation: FCA authorisation delivers investor safeguards and responsible gambling measures
- Track record: Two and a half decades of continuous service, with established complaint procedures
Our verdict
For those focused on political forecasting, Polymarket emerges as the superior option. PolyGram streamlines Polymarket participation whilst removing blockchain-related friction. Start trading on PolyGram →