Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and caters to sports wagering enthusiasts. Polymarket functions without formal regulation, runs on blockchain infrastructure, and specialises in forecasting political outcomes and real-world occurrences. For those tracking European political forecasts, Polymarket delivers superior depth and breadth of available markets.
The European prediction market landscape features two prominent contenders: Betfair (the established betting exchange pioneer) and Polymarket (the decentralised 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: Substantially greater trading activity surrounds US electoral contests, European legislative races, and international geopolitical developments on Polymarket relative to Betfair
- Transparency: Blockchain-based resolution offers complete auditability; Betfair's settlement procedures lack comparable visibility
- Market variety: Digital asset valuations, technological breakthroughs, academic progress — categories absent from Betfair's offerings
- No bookmaker margin: Participant-driven pricing eliminates the house edge typically embedded in traditional bookmaking
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's fundamental advantage; Polymarket provides minimal coverage of ongoing sporting events
- Fiat deposits: Betfair requires no understanding of cryptocurrency infrastructure
- Regulation: Authorised by the FCA with built-in safeguards and responsible play features
- Track record: Two and a half decades of continuous service with established mechanisms for handling disagreements
Our verdict
Should your focus centre on political forecasting markets, Polymarket emerges as the superior choice. PolyGram streamlines access to Polymarket whilst removing cryptocurrency friction. Start trading on PolyGram →