Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and appeals to sports wagerers. Polymarket functions without regulation, leverages blockchain technology, and specialises in political and global event forecasting. For those seeking European political forecasting markets, Polymarket delivers superior depth and breadth of available contracts.
Two major players shape the European prediction market landscape: Betfair (the established betting exchange pioneer) and Polymarket (the decentralised blockchain-based forecasting platform). What sets them apart?
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 substantially greater trading volume in American electoral contests, European legislative races, and international affairs compared to its competitor
- Transparency: Blockchain-verified settlement ensures immutable record-keeping; Betfair's terms of service remain less transparent in certain areas
- Market variety: Digital asset valuations, technological breakthroughs, academic research milestones — categories absent from Betfair's offerings
- No bookmaker margin: Participant-driven pricing eliminates the house edge typical of traditional operators
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's defining advantage; Polymarket provides minimal coverage of athletic competitions
- Fiat deposits: Conventional payment methods eliminate barriers for those unfamiliar with cryptocurrency
- Regulation: Operating under FCA authority provides statutory safeguards and player protection mechanisms
- Track record: Two and a half decades of continuous operation, coupled with established procedures for resolving disputes
Our verdict
For those focused on prediction markets centred on political outcomes, Polymarket emerges as the superior choice. PolyGram streamlines participation in Polymarket without requiring technical blockchain expertise. Start trading on PolyGram →