Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and appeals to sports wagering enthusiasts. Polymarket functions without regulation, leverages blockchain technology, and specialises in forecasting political outcomes and real-world developments. When it comes to European political forecasting, Polymarket demonstrates superior market depth and breadth of available contracts.
The prediction market landscape in Europe centres on two major contenders: Betfair (the established betting exchange pioneer) and Polymarket (the blockchain-powered forecasting platform). What distinguishes them from one another?
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 presidential races, European legislative contests, and international affairs forecasts compared to its rival
- Transparency: Settlements recorded on distributed ledgers provide auditable proof; Betfair's contractual terms may lack clarity
- Market variety: Digital currency valuations, technological breakthroughs, academic research milestones — categories absent from Betfair's offerings
- No bookmaker margin: Participant-driven price discovery replaces the traditional house edge
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's principal competitive advantage; Polymarket provides minimal coverage of active sporting events
- Fiat deposits: Betfair eliminates barriers for those unfamiliar with cryptocurrency infrastructure
- Regulation: Authorised by the FCA, offering investor safeguards and responsible gambling frameworks
- Track record: Two and a half decades of continuous operation, coupled with established complaint handling procedures
Our verdict
For those focused on prediction markets centred on political forecasting, Polymarket emerges as the superior choice. PolyGram streamlines participation on Polymarket whilst removing technical barriers inherent to blockchain platforms. Start trading on PolyGram →