Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and caters to sports wagering enthusiasts. Polymarket functions without regulation, relies on blockchain infrastructure, and specialises in forecasting political outcomes and niche events. When it comes to European outcome markets centred on politics, Polymarket demonstrates superior depth and breadth of available contracts.
The European prediction market landscape centres on two heavyweight contenders: Betfair (the established betting exchange pioneer) and Polymarket (the decentralised, crypto-enabled forecasting venue). 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 order book depth across US electoral contests, European legislative races, and international tensions relative to its competitor
- Transparency: Immutable settlement via distributed ledger technology ensures verifiability; Betfair's adjudication mechanisms lack equivalent openness
- Market variety: Digital asset valuations, artificial intelligence breakthroughs, technological milestones — categories absent from Betfair's offering
- No bookmaker margin: Participant-driven price discovery replaces house-imposed spreads
Where Betfair wins
- Sports markets: Live-action sports wagering represents Betfair's foundational competency; Polymarket provides minimal coverage of active sporting contests
- Fiat deposits: Traditional currency acceptance eliminates cryptocurrency prerequisites
- Regulation: FCA authorisation furnishes statutory safeguards and harm-prevention mechanisms
- Track record: Quarter-century operational history with established complaint procedures
Our verdict
For those focused on forecasting political developments, Polymarket emerges as the stronger choice. PolyGram streamlines Polymarket participation while removing technical barriers. Start trading on PolyGram →