Key takeaway: Betfair is regulated, fiat-friendly, and suited for sports bettors. Polymarket is unregulated, blockchain-based, and excels at political and real-world event prediction. For European political markets, Polymarket wins on liquidity and variety.
The prediction market landscape in Europe centres on two major contenders: Betfair (the established betting exchange) and Polymarket (the decentralised, crypto-powered alternative). 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 superior order-book depth across US electoral contests, continental European politics, and global geopolitical developments relative to Betfair
- Transparency: Settlement occurs on-chain with full auditability; Betfair's settlement procedures remain less transparent to users
- Market variety: Digital asset valuations, machine learning breakthroughs, research milestones — categories absent from Betfair's offering
- No bookmaker margin: Participant-driven price discovery replaces operator-imposed spreads
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's fundamental advantage; Polymarket provides minimal coverage of active sporting events
- Fiat deposits: Traditional currency entry requires no blockchain familiarity on Betfair
- Regulation: FCA authorisation delivers investor safeguards and gambling harm prevention features
- Track record: Two and a half decades of continuous operation, with established complaint procedures
Our verdict
For those seeking exposure to political prediction markets, Polymarket emerges as the superior choice. PolyGram simplifies Polymarket participation without requiring deep blockchain expertise. Start trading on PolyGram →