Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and appeals to sports betting enthusiasts. Polymarket functions without regulation, leverages blockchain technology, and specialises in political and real-world event forecasting. When it comes to European political forecasting markets, Polymarket offers superior liquidity and a broader selection of available markets.
Prediction markets across Europe are shaped by two major players: Betfair (the established betting exchange pioneer) and Polymarket (the 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 demonstrates stronger order book depth across US elections, European political contests, and global geopolitical forecasting compared to Betfair
- Transparency: Settlement occurs transparently on the blockchain and can be independently verified; Betfair's settlement procedures may lack clarity
- Market variety: Cryptocurrency valuations, artificial intelligence breakthroughs, and research milestones are available on Polymarket but absent from Betfair
- No bookmaker margin: Market participants establish pricing through trading activity rather than predetermined spreads
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's primary competitive advantage; Polymarket offers minimal coverage of active sporting events
- Fiat deposits: Betfair eliminates the requirement to understand cryptocurrency fundamentals
- Regulation: Operating under FCA jurisdiction provides investor safeguards and gambling responsibility measures
- Track record: Two decades of continuous operation with established mechanisms for resolving disputes
Our verdict
For those focused on political forecasting markets, Polymarket emerges as the superior choice. PolyGram streamlines access to Polymarket without requiring cryptocurrency expertise. Start trading on PolyGram →