Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and appeals to sports wagering enthusiasts. Polymarket functions without regulation, runs on blockchain infrastructure, and specialises in forecasting political outcomes and real-world occurrences. When it comes to European political forecasting markets, Polymarket offers superior depth and selection.
The European prediction market landscape features two major contenders: Betfair (the established betting exchange pioneer) and Polymarket (the decentralised, blockchain-powered 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 stronger order book depth across US electoral contests, European legislative races, and geopolitical tensions relative to Betfair offerings
- Transparency: Settlement occurs on-chain with full auditability; Betfair's settlement procedures lack comparable visibility
- Market variety: Digital asset valuations, machine learning breakthroughs, research milestones — categories absent from Betfair's catalogue
- No bookmaker margin: Participant-driven pricing replaces house-imposed spreads
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's foundational offering; Polymarket provides minimal coverage of active sporting events
- Fiat deposits: Betfair eliminates cryptocurrency prerequisites for account funding
- Regulation: FCA authorisation delivers investor safeguards and gambling harm mitigation protocols
- Track record: Two and a half decades of continuous operation, established complaint handling mechanisms
Our verdict
For those pursuing political forecasting opportunities, Polymarket emerges as the superior choice. PolyGram streamlines Polymarket participation whilst removing blockchain friction. Start trading on PolyGram →