Key takeaway: Betfair operates under regulatory oversight, accepts traditional currency, and caters to sports enthusiasts. Polymarket functions without formal regulation, leverages blockchain infrastructure, and specialises in political and real-world event forecasting. For those seeking European political prediction markets, Polymarket delivers superior market depth and choice.
The prediction market landscape in Europe features two major contenders: 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 commands significantly greater trading activity in US electoral contests, European governance, and international affairs relative to Betfair's offerings
- Transparency: Blockchain-verified outcomes provide complete auditability; Betfair's settlement procedures remain less transparent
- Market variety: Digital asset valuations, technological breakthroughs, academic research milestones — categories absent from Betfair's catalogue
- No bookmaker margin: Participant-driven price discovery eliminates the house overround typical of traditional betting
Where Betfair wins
- Sports markets: Live sports wagering represents Betfair's foundational competency; Polymarket provides minimal coverage of active sporting contests
- Fiat deposits: Conventional payment methods eliminate the requirement for cryptocurrency familiarity
- Regulation: FCA authorisation provides statutory safeguards and gambling harm prevention measures
- Track record: Two and a half decades of continuous operation with established complaint procedures
Our verdict
For those concentrating on political forecasting, Polymarket emerges as the superior choice. PolyGram streamlines Polymarket participation whilst removing blockchain friction. Start trading on PolyGram →