Bitcoin Forum

Good day!

I am writing to inquire about your opinion on prediction betting. I know that there platform that are promoting these kind of gambling activity and it became trending especially the trump vs biden presidential race. During the crowd sourcing both candidates have fair rating. These means that the election voting was so hard to predict and that betting was being created to show which prediction was right or correct. However, I do not know what platform could be good to accommodate these kind of  betting.

Now, that I had known a platform organizing these kind of betting I started to get excited in betting specifically now that the trending talk is all about the ALL TIME HIGH market price for BITCOIN. I had already see that there is already active prediction betting for bitcoin in the platform. Because I am new the said platform and I hqve some doubts and not sure if prediction betting platform is good. Before I could come up with a good betting analysis I have to ask about the cons and pros of a prediction betting platform. I have my own perception about the cons and pros of prediction betting platform below.

My list of cons and pros of prediction betting in a platform

Pros,
1. No house edge instead service fee
2. Winnings does not come from the platform but from the bettors itself. Winnings will be coming from pools of bet from the opposing side minus the service ree from the platform.
3. Interested betting prediction are present like predicting bitcoin market price ALL TIME HIGH.

Cons
1. If betting platform is custodial meaning they had hold of your funds.
2. If betting platform has huge service fee.
3. If the prediction would not be good and does not interest the users.

Could you list your own and add some cons and pros?
What do you think about this prediction betting platform? Is it good for the gamblers?

I think this is the new way of gambling. Probably, I do not know the trends of gambling now.

i cant think of pros but i can think of con that you havent listed . that is its boring to wait because predicting is not instant as the regular gambling .

this is why i never tried to bet on predicting sites but i love some events that they offer ( predicting the price of btc ) .

predicting game is never been a new thing but i remember that predicting game are already came first before crypto gambling got popular .

Alright, you may have some point because not all the users have the interest into predicting especially if the event is not in the interest of the users who had bet. But we know that there are really some user wanted to get involve in prediction just like what happen to the USA presidential race between Trump and PBiden. Now, my interest is all about the bitcoin prediction and this is why I had already been looking into the platform.

However, lately that there are some news and current events that are included in the platform. I must check for more and I know I could get more exciting prediction betting in the said platform.

Either way, prediction betting platform or any form of gambling is not good to gamblers if we're going to be honest and practical. Any of what had mentioned has a big risk to lose their money most of the time, unless they are lucky and the predictions is on point as always to avoid losing too much (which is impossible). But let me add these for pros and cons on prediction betting platform.

Pros
- You'll only have to bet and won't require to think
- hassle free (for your braincells)

Cons
- Losing money because of someone else prediction
- more frustrating for me

The more common form of betting is still prediction-based. Everything is about prediction; who will win, number of goals, number of points, number of rounds, etc. The unusual thing about this prediction platform is that it does not present betting with odds but rather percentages reflecting the data coming from those who predict themselves. Things are made like a toss coin in that they have two possible outcomes, although there is a tie in other markets.

Betting sites don't have a house edge because gamblers are not playing against the site. This is nothing new.

Betting platforms are all custodial I guess. I have yet to hear of a betting platform which provides users their wallets' private keys.

For me, the con is that there are limited betting opportunities per match, event, etc. The pro is that it has a very wide market. In fact, it is worth highlighting that users could actually suggest of new markets. That's amazing.

The main con about predictions or parimutuel betting platforms is that the odds move heavily from one side to the other if there's not enough volume in the pool and with that you'll be forced to bet smaller amounts. Once there's a lot of volume then it'll be a good way to bet on specific markets and sometimes you might get better odds compared to the traditional sportsbooks.

I'm not familiar on how the management works on betting platform but I'm confused if this statement is right. Remember that sports betting prize is not a prize pool base, Meaning to say if a player win with a certain odds. He will get the winnings equals to his bet multiple by the odds in exact amount disregarding the tota bet on the oo site side.

Because if this statement is true that winnings is from other bettor itself. The platform should distribute the total bets of the losing side to the winning side proportional base on there bets size ratio.

Same issue with me.
I can't think of any pros about it.
Almost all gamblers are short-tempered. ;D I don't think it will work.

It does work with known sports though like NBA, NFL, Soccer, etc..
Since there will always be an end to every season.
But cryptocurrencies predicting? Hmmm..
It may not be a good business to handle, not with gamblers.

Hello
I do believe that most of these prediction gambling have only one flaw , which is the excessive waiting time , this time during the elections it was really hard waiting for the results to come up , since the people had already invested they had to actually wait for a while till the whole drama settled down and it was indeed a lot of pressure on the companies too.
Plus this time it was really easy to predict on the results , since it was trump vs Biden in the end and everyone was already too tired to trump behaving like a child. Well believe it or not there are some gamblers which can wait for a while and those are the ones who are making money more than us 😂
I can barely wait 2 seconds.

I don’t think that this is exactly the case. Correct me if I am wrong but in my knowledge, winnings does not exactly come from bettors themselves, most of the bookies have their own API that generate odds. I think what you are talking about was the betting exchange. But other than that, I agree with the pros and cons that you have listed here.

It is not really a con because those predictions whose results will come out months or years later are designed for it, like the next 007, for example. If it is not your cup of tea then you have the option to stick to other events such as your favorite sporting event or match. They probably have that as well. In those predictions, the result will come out once the game is through.

It's just that the market is very wide that you could bet on a prediction ranging from sports, science, entertainment, etc.

This is good for gamblers like me that enjoy the thrill of betting on someone/something then wait until the win condition is met. I enjoy watching the live result of that game to see if I'm winning or losing rather than betting on some gambling games where my money quickly disappears.

The biggest con for a betting platform? You're basically using someone's prediction to win, but if you lose, you'd most likely 9 out of 10 blame the prediction instead of yourself for trusting that prediction. Though tbh, it's also a pro since you clearly don't have to perform for anything like analysis and gathering of past records, hey, when it comes to betting, the most trustworthy decision would solely come from you. In the end, pros and cons are basically the same, it's just dependent on where you would actually look at it. The end result is still the same, is that it's your own decision, your choice, nothing could change that.

As for issues with how prediction platforms hold your funds, well, that isn't really an issue since you are technically asking them to bet for you. It's not like they take your funds, they use it properly to provide you with returns, so it isn't really an issue imo.

It can be prize pool based it's basically like betting against your friend but on a bigger scale. The type of betting we see on most sportsbooks is the popular and best way where they're the one automatically matching the bets. On OP's example it's the players that are matching the bets so no matter what happens the odds and payout will always adjust if more bets come in from one side. 

It's like the bitcoin options that you mostly see popping ads on Google and YouTube videos. My take on it is that it's just like the casual guessing of the price for which it enhances your predicting skills because if you're serious with it, you'll use analysis and study on the market that you're about to predict.

For pros and cons, I don't have any of them until I've used them and sees some issues that I don't agree and agree with. But for now, the most important part of this is that you're on the right prediction platform and they have enough reputation to take care of their bettors/predictors.

I agree with your Cons, especially the service fee point is quite viable. Good betting recommendations are key to success, but only if they are legit. We need to make sure we don't fall for into a trap. So checking the recommendations in the past is very important. If we have to pay a high fee just to get bad recommendations and lose money in the end we will lose money twice.

Yeah, you are right because we cannot trust any platform that pops out are actually good because it will take time to develop reputation especially in gambling where trust is ry needed. Anyway, the prediction betting platform looks very promising and this is why I had join in which I had also see the bitcoin prediction of about the bullish trend and and the possible bitcoin ATH market price record.

agreed, thanks for the input, as they say two head is better than one. Anyway, I had been having some excitement in the prediction betting lately but I had seen the possible issue and that you have stated it right because the bet I made still in the process of waiting for the result. I can't actually wait for the result to happen but we do not have the power to make the result right away. Yet, still I was amazed by the choices and the prediction of which outcome could be clearly predicted.

If you check the motivation of most of gambler they want results right away, they want to know if it's their lucky day or night, these prediction platforms are good for sport prediction, because you will not get bored waiting because there are many news coming that can make gamblers excited as they are waiting for the day of the match.

This is the reason why most prediction betting platforms can't sustain the interest of the gamblers. If they will deploy another game aside from prediction betting game, players may have other options while waiting for the results of their game. The platform needs to offer other services that will make their players stay while waiting for the results. Otherwise, it is really hard to keep up with this kind of gambling site.

That is why prediction gambling sites like sports betting can sustain their business model because they have many games they can offer to their users, they can play dice game, slot while waiting for the outcome of their prediction, what I mean is there should be variety if they want to be sustainable in a long haul.

Maybe you can share what the platform is to visit and check it to see how the platform works. If that is about predicting how much bitcoin will be at the end of this year, I only trust Freebitco.in. They already have that betting from a long time ago. Besides that, Freebitco.in is one of the old gambling sites which many people know. I don't mind seeing my money will be held by them until the betting end because I can trust them.

So if you doubt the site, you do not have to use them to bet. I do not want to see the casino hold my money if I do not trust them.

OP is already promoting it it's in his signature campaign, this is the platform that he is promoting https://futuur.com/, they have an existing signature campaign here and these are the sample predictions that they are currently running, really new to us, it's truly dedicated prediction dedicated sites.

https://futuur.com/q/feed (https://futuur.com/q/feed)

These kind of prediction i guess usually happened in a sports betting where you would only wait for at least 4-5 hours waiting for the game to end to be able to know who was the winning team like basketball or any kind of team sports. And as per my experience i do get excited to finished watching the game most especially if the favor is in mine.


Some bettors are seem to have a lucky charm on their body that they could predict a possible winner at the end of the game and it so happened that end result of the game favored on what they have expected, these is the luck that i don't have in my body.

That's is your own aspects of predictions that's more preferable to you, there are numerous number of people that are really good into politics and science predictions like that of the presidential assembly and cabinets analysis which sometime they gets it correct, to me this kind of predictions has to do with study of human behavioural patterns and approach to something in other to win, but the disadvantage as others had pointed out is the longevity of the final results taking months, that's why there are sports betting has many gamblers than politics, entertainments, science and others.

I guess even predictions of one person have some sort of forte where they have their preference area where they can predict correctly or accurately some othe time. And some person also has a good predictions in such a sports betting or in gambling which their basis was technical analysis and so on. We have our own kind of strategy that work on our pace and that i guess we can't question why we have our own insights too when it comes to gambling or so.

I guess you could say betting websites don't have a house edge, but they do have the betting margin which IMO is a very similar thing. And not all betting platforms hodl the money of their players IMO (although the most popular ones do that). I've seen websites which are based on smart contracts on Ethereum, and people don't deposit any money directly to the website, but instead a smart contract deals with the finances automatically and people place bets directly from their private wallets. However, since these platforms don't become popular, it would be hard for me to remember a particular website like that, although I did try one of them out a couple of years ago.

In my honest opinion, betting platforms are very much like your regular lotteries actually. But instead of random numbers, you bet on something else, in fantasy draft, it's players, in races, it's the contestants. So basically, it's much like lottery, only that you know a bit on who to bet and who to avoid based on their known statistics. Still, there is a margin of hours you'll need to wait until the game is over. In fantasy drafts this is much common because just like regular games, fantasy games have their own schedule. You kind of appeal to only a small percentage of bettors here who couldn't wait to bank out their winnings.

there was an entire project dedicated to prediction betting (stox.com) but actually the coin has 0 or no interest at all.
it wasn't easy win (like capitalism people with high stakes win more) and just few cents were airdropped... definitely not a bargain offer.
I think that only "big players" could be profitable in such type of market...

If we will pay for consultation feed or predictions then it should be use in good use and should have a proper return of investment as it's quite hard to really win in gambling or in betting with just purely relying on predictions without any other study, so if we find one and with good record and reputation then it's a must try site.

Well, you can't fully rely on that platform that you have said. For me, predictions will always the same though as speculating the situation, --you even don't know if they will have an accurate result after they predicting such a game. However, at least you have a reference or guide upon your predictions and which is give an accurate result but it does not matter that you will fully rely on it, at least that you have your own research. I must agree with the OP that a prediction betting platform has pros and cons that we must consider before following them.

Pros
*in only takes you a minute to choose which team/individuals to put your bet on)

Cons
*50/50 winning percentage

I don't see a lot of bad or good things in prediction, advantage or disadvantage. Prediction is just made to have some fun and you don't need to have a strategy on this, if you are lucky then you will win. A lot of participating individuals and just like you, they don't know the exact result as well.

Fees, held funds if you are worried to lose your money, then look into legit betting sites. And also, there are so many betting competitions now that never requires you to deposit first, maybe this is suited for you.

We can also use predictions as our reference towards betting with different gambling games. It's always certain to have different options rather than remaining into single odds. There's always more chance instead of relying on some particular aspects which you thought efficient in betting.

Because I am bored with gambling games that are widely circulating now, prediction betting can give me a new sensation. Because not
many platforms provide prediction betting, it is quite difficult to find gambling platforms that provide prediction betting. Since the American
presidential election is over, I am now trying to make a bet on the price of Bitcoin at the end of the year. Indeed, prediction betting is not
liked by some people because it requires patience, the results cannot be known instantly. We have to wait patiently, but if our prediction is
correct. I feel a pride that's hard to tell, I suggest that those who haven't tried Prediction Betting should try it. There are things that are fun
that other gambling games don't provide.

I heard about futuur.com, but I do not try it so far. Maybe next time, I will try to register on that site to know what predictions betting available on their site. But still, we need to have much data base on the predictions, so we will have a chance to win. Yes, it is new to us, and I think that site can be a new competitor for freebitco.in, especially if that site can get more members.

This is an understandable con for gamblers but you have to consider that bookies rely on more people betting on the game so they have to create the bet as early as possible before the fight/race. It is in a way a pro for player too if you ask me, with a bigger time frame, you can decide more in depth on where you want to bet or if you want to bet, and in case that you do not have enough money to place a minimum bet then you can use that time to scrounge up some money before the big game starts.

same and many users are doubting on them too maybe because they are new and they offer unusual events to bet on but freebit is an old site although freebit foccuses on their faucet and hi lo game because this is where they started .

there are better predicting site and freebit cant be compared on them but in terms of the number of players , freebitco has tons of sign ups and it grows every second . you can see that in the signup/login page .

Sports betting are indeed growing but Futuur is just a new one and its too early to say that they offer a great betting site so I'll still go for the reputable betting site like Cloudbet and Fortunejack in terms of sports betting. There's a high demand for crytpo gambling so if you are planning to create a new gambling site just make sure that you offer a different services so the gamblers will try your platform, instead of making a gambling site that is totally the same with the other site.

I'm talking of the bitcoin price prediction. And the other one that you've described is about the predictions in politics. Although the same game style that you only have to predict which is going to be the outcome of the chosen subject that you're predicting.

In predicting bitcoin's price, it's much quicker than politics. You're right with predicting election results such as presidential race, you really had to know background and certain factors if the candidate that you're about to bet is strong in many places of the country.

Btw, we can have it both, we predict bitcoin's price just like the options and we can also play the predictions through election results.

Exactly. It needs time to gain trust from the gamblers to gamble on that site, and that site needs to work hard to serves the gamblers who come to their site. If that site can make their members satisfied, I am sure they will get reputations among the gamblers, and maybe they can compete with freebitco.in.

But I think every gambling site will have their advantage and disadvantage, which we can not compare, and that is the unique thing they have.

Gaining trust takes time so I guess this is why I had shared this gambling activity to know about the status of the prediction betting game.  In my case, I do love the concept of the game and that when I bet the only thing I wanted is that to know the results a day after or 2 days might be good. Yet, the platform cannot decide to push the result and this is one of the problem that I had seen so far in the platform. In regards to the interface, it is good and there are variety of activity to predict with.

TBH, I don't like to make a prediction on such websites due to low liquidity. The working mechanism is like betting exchanges, the management matches the orders and adjust the odds depending on the liquidity or interest. If the outcome of an event is highly possible only a few crazy people will not lay this option. The interest is low and the alternative platforms have better deals, for saving my money and time I will go for the second option. AFAIK, Bet365 and William Hill had such offers for financial market betting years ago.

This is not actually a CONS because beforehand, you should expect these things when placing a bet for futures.

Betting on Futures is really like that, not just on politics but for Sports events too.

Just pick a good sports betting site so that funds are somehow safe or in good hands.

There's no such thing about being safe because they can turn out to be a scam anytime!

The thing i dont like on betting with futures is that you would really be needing to wait for you to know on what would be the outcome of your bet.
Some might really be interested into this kind of set-up but not for me.

Your funds will really be held for a long time and you should be aware on this one when you do deal with it even with those
on spot events but to think its just a typical thing thats why sticking with the best ones will be much preferred.

Should I really make a literal explanation here? What I mean for safe there is to minimize the risk. You should already get the point there.

Of course, and too obvious, by choosing a good sports betting site at least we are safe compare to placing bets on other sites that are not popular.

It's already a basic rule of thumb.

Yes, it is. That is worth to gain trust from the members because that can make the casino will become a place that the members always recommended to their friends to gamble. We can search for a platform that does not takes too long to announce the result, so we do not have to wait for a long time to know if we are win or lose. If we can found one or two betting types that do not have to wait for a long time, that will make us feel waiting is not a boring time.

1. I don't see any other option for this to work. Or else people would just not pay the losing bets, so they have to hold it. Trust matters over here.
2. They need to make profit somehow. The fees aren't like extremely high as far as I know.
3. You mean interesting predictions? I though they had multiple predictions running simultaneously.

You can also add one of your pros to the cons. Since the payout depends on the total number of users, if there are less users predicting, there is a chance you will be winning less amount of coins.

the time where honesty matters is getting duller .
 this is online and its hard to trust anybody and btc price is also getting expensive , people are tempted to hoard btc .
they dont need to charge high fee from each individual because if they have a big site and its popular , they can earn big if small fees will be combined .
 all bookie sites have a different predictions but they are common and what if there are gambler that will be looking for non common predictions .

It remains to be seen if this kind of gambling is going to get support from the gambling community, gamblers want something new and interesting the pros outweigh the cons it's almost zero house edge and they are going to rely on the fee, I'm glad that one dedicated prediction site has launched a campaign for awareness, let's see if the site can keep up and this dedicated prediction will be accepted to be part of gambler's activity.

What do you mean by something new specifically?

Betting about Event prediction is always getting attention, from gamblers or not, especially if that's a big event.

There's always a big money stake at most event betting so it's already a big thing in the world of gambling.

I guess what he meant by "something new" is to have more innovation offer new things to make the site more interesting. One example would be allowing these type of predictions to be included in a parlay or multi.

But like you've said there's always a lot of people willing to gamble on these events and imo these types of changes fits more on the casino side since there's not much you can improve when it comes to prediction betting.

We are used to betting heavily on sports. That's why betting has become more or less synonymous to sports betting. I guess around 90% of betting are involving sports events or matches. I am talking about betting on odds rather than betting on a casino game.

The good thing about this kind of platform that you're talking about is that the betting market has widened a lot. There is now a wide array of options. Because of this, betting will now become an entertainment for everyone including those who are not much into sports. People could now bet on things which involve politics or science, for example.

The bad thing about this is that the gambling problem could worsen as the number of gamblers may rise because of this.

If that site can give many things to bet, I think that can make gamblers curious to place a bet. And since we see in that site have sports, politic, science, entertainment, business & finance, that could be a way to attract more people to try. It could be a new competitor for the other gambling site and I am sure each gambling site will give their best to their members. Maybe we will see a new thing to place a bet since we can place the bet on something that becomes a new trend.

Sorry mate but what is about Prediction is not instant as regular gambling?you can make prediction of your own, since this is still predicting and nothing assures of winnings.
Elaborate please ,what is predicting site?
;D

The pros and cons that you make to me are normal, I mean, I don't think of them as pros and cons. This is a bet like sports betting that has no house edge and I think whether or not there is a house edge at least is a taste of every gambler. Regarding whether gambling is good or not, it is still, at least an option for anyone, because every gambler will definitely gamble on many different types of gambling and platforms. So when you feel it is good for you then go ahead and vice versa, because this is about taste because even though I like predictive betting but I am not betting on the presidential election in question.

Taste and preference and this is where gamblers do really differ and I agree into that point where even you do like a certain way of betting but there are
ones which is really out of your interest which will you make to skip out.

When it comes to pro's and con's then those are just basic or known ones.It isn't needed to repeat it out yet majority of us do knows about it.

The taste for every gambler will always be different, even if they play the same gambling games. We agree that before we bet on the predictive bet, we will search for something that we know before and choose the easy thing. When it comes to taste, we might search for betting that can make us comfortable and don't want to think hard or search hard for more data to place a bet or use a random bet from many options. We could only bet on the thing that we really like, such as betting on sports. So the pros and cons will not be too important to think about for me because as long as I can comfortable with the site or the game, I will not have any complaints or problems.

One con that we saw recently was that the outcome of the election was not conclusive at first and then Trump tried to make it even more confusing by claiming he was going to win in court. Prediction markets held off on paying for several weeks to make sure there was a definitive answer. Having your funds locked up for longer than anticipated would make anybody nervous. This is always a risk when there is a close election or the outcome of an event is ambigous.

if you are in legit and trusted site ,surely you'll never feel that nervous but instead frustrating ,because you are very excited waiting for the result but just to see trump changing things. for the matter that he don't wanna step down because of pride.

and also that Winning money can be doubled or even more if you had been paid onhand because there are other games that you'll have to use for betting and chance of winning is there .

Well, I don't consider this as a con of the platform because I think it's more appropriate to say that that's the nature of what you bet on. Betting on election takes a little longer compared to sports betting since it's a more serious matter so it's kinda understandable why sites tend to lock up your funds for a longer time. So if it makes you more nervous, you can avoid betting on this kind of stuff or ensure the legitimacy of the site.

We do have our own preference and taste so lets respect on what others view about it.! When it comes to future's then making out some strategy or analysis is a little bit useless in side of things.

I don't see for those things had mentioned to be on the positive or negative side of things since those are just casual ones.

If you don't find that bets offered aren't interesting then you are free to leave and find on which one do fits you in.

Thus, if we feel not confident of the site, we better stay away from them.
We understand the nature of gambling, we risk, we lose, or we win. And the reason why I preferred sportsbetting is that we don't need to wait long and see the result, unlike this election predictions. I feel bored waiting, to be honest not matter if the site is legit.

And as I observe, more gamblers will come in sportsbetting than predictions. It possible that because predictions create only less interest than sports and more gamblers are fun into sports which is very easy for them to pick.

The main issue with any betting exchange is that it can lack liquidity.

It's a bit like P2P/OTC conversion vs using an exchange to convert your altcoins. Clearly, the exchange will likely give you better rates since it is reflective of the spot market. But the concern here is that it may not have the liquidity to fulfill that big of an order.

The same thing applies to betting exchanges/prediction platforms. If there isn't sufficient user interest in backing a certain outcome, then the market can dry up. Even though last matched odds are public, there is no real way for individual bettors to take on extra positions. This is probably not a huge concern with presidential races since it is such a big event, but when it comes to smaller markets it certainly matters.

That is why a lot of p2p betting platforms can't manage to keep their business.
When the interest of players wane, and just move on to the next, it is hard for the site to remain in the business.
Aside from the fact that betting will really take time to know the results, where most gamblers are not really keen on waiting.
There are pros and cons, but in the long run, you need to weigh if such business can really maintain your operations for long-term.

Not everyone likes prediction betting because they have to be patient waiting until the event ends, So I am sure that people who
have no patience will avoid prediction betting platforms. I myself only like sports betting which made me interested in prediction
betting, because none of the other events offered by prediction betting platforms made me interested. So from that now I am more
interested in playing gambling games which are already popular.

Or we will feel that it is too difficult to select the right team as in the first time, we will lack information to know which team will have a big chance to win. The next betting can make us search for more information because our curiosity becomes bigger and we really interesting in the game. If we can enjoy betting, we will stay at the betting and try to bet on the other sports. But if we don't enjoy the time, we will feel boring, and nothing will be exciting, and in the end, we will leave the betting and back to what we like.

It would have been easy for me if I joined that prediction game. Well, in order to win on that kind of game you should be familiar with what is happening in that country. For that, in America of course. And what are the situation and credibility of the candidates which are Trump and Biden. Prediction would be easy when there's a subject that really shows what would happen. Predicting on what will happen in 2021 must have been hard tho.

No betting platforms that's offering instant bet and win(though with some few exception), there must be an interval before the bets be place on win or loss category, so, literally all bets need patience while the results be awaiting by participants. Candidly, most of my gambling bets particularly in sport-betting do take sometimes months before the last game be decide, anything that gat to do with betting sincerely need patience for final decision.

That's why prediction game is very exciting, we don't know the future but at least we have some idea on what will happen based on the current or previous events. Actually, the crypto market is very uncertain, so as the price remain as high volatile, prediction game is very much fun to play.

This belongs to the pros of the prediction betting platforms. Excitement is one of the most gamblers like, this will give them a thrill while they are betting and next it will proceed toa the opportunity to win money is a part of cons.

But this isn't mean people can give prediction will always have a 100% accurate result, that is not. I guess this will only increase your chances of winning but don't have an assurance of winning.

We should always consider the site first before betting because we will be giving our funds there. And you're right that we should avoid prediction betting platform that we lack trust in or we are not that sure since it's better to ensure the safety of our funds when we bet on longer betting events like the presidential election.

I also feel the same that sports betting is much more fun and exciting than predictions. Only big events get a lot of interest when it comes to prediction betting.

The outcome may look confusing but it may not necessarily be in real life. For example, in the case of Biden vs. Trump. It was already a commonly acceptable truth that Biden won. That was clear enough as the morning sky. Trump may not concede. Trump may choose to contest the result itself in court. We do not know what happens to the protest after a few years. But for as long as Biden is officially declared as the winner and has even taken his oath of office, that is enough for those who bet on Biden to receive the payouts.

We always need to keep in mind that people want to make money. And these are not only us, gamblers, but also the people who give their services like those in prediction betting platforms.
So, yes, caution and background check are necessary unless you want to get scammed at the end. I never use such sites and I don't actually believe in someone's power to make quality predictions.

@bitbunnny some of the websites consider herd predictions more accurate than individual predictions, which is quite interesting assumption.

check futuur teaser, it has an explanation on it:
https://www.youtube.com/watch?v=qKaozE7ZS78

its an interesting thing to consider, the sum of all parts would be more exact than each individual.

we must always be alert when depositing funds to a third-part but some can be trusted, and you don't need to deposit all funds.

though I'd like to see more prediction markets that are descentralized, is augur fully operating already?

one obvious disavantage as asked on OP is that you may lose all your money if the bet goes to the wrong side, so calculating risk is a must.

It should be. No reason for those sites that still tagged the bet as pending to not settled the bet.

Either they are waiting for Biden to assume office or oath, pending bets should be settled now as it's clear now who's the winner.

The changes, if ever, that will be made in the future due to some filed cases should be out of the discussion.

This is a must if you want to have peace of mind with your bets in terms of security. Betting on new casinos isn't that bad because established casinos also started being new to the gamblers. A new type of bettings is introduced like presidential elections by new betting sites to attract bettors in their business. Background checking on a new betting site is a must especially if you will bet a huge amount.

When we are hard to predict the games and use random selection for the team, sometimes we can have the luck that comes to us and give us the win. We may not be thinking or predicting that we can win, but luck helps us, which will surprise us because that is out of our expectation. There is time for us to get that experience, and make us can't decide which team has a high percentage to win, so we choose a random team without thinking too much.


That is not bad, but we need to be careful because they don't have a reputation before, making us selective to play on the new casino. Perhaps, that will be related to the money that we will use to bet, and we should not use too much money to prevent the bad things that can happen. The casino will try to prove to the gamblers if they are worth choosing as their place to gamble.

I am searching on google about the prediction betting platform. And wow, I found so many sites offering that prediction for betting or gambling. Moreover, many have listed the top prediction sites with many proofs.
But what I thought: 'is it the same with the prediction on trading?
On trading, we can surely know the technical analysis. But in betting, we do not know the analysis based on the habit or current condition.

Pros:
Proofs of being successful gambling prediction with many wins to have

Cons:
If the betting is a real sport, how can they predict it?
Is there any relation with the probabilities of the gambling behind the game, who have higher fees can control the game and make the players do what they want?

Everything start on being new and its right that it isn't bad to make use nor make bets on new sites as long you do saw that it fits the criteria on being a legitimate site.

You can see those in terms of design and user interface plus having a good service.There are various bets that been offered which isn't usually can be seen on this market.

and now they are now offering something that do correlates with future bets.Its up to someone if they can afford on letting their money or bets sit down to the site for a long time
since the outcome is still on indefinite manner.So its up to someones choice neither they would play or not, they haven't been forced to play though.

Prediction in trading is a bit different from prediction in gambling. Prediction in trading is based on charts or fundamentals but prediction in gambling could be based on a lot of factors. It depends on which specific event you are predicting. Prediction sites such as Futuur offer so many events ranging from sports to politics to science to finance and more on which you can gamble with your Bitcoin.


As far as Futuur is concerned, you just predict which team or player will win, or in sports where there is a draw such as football, you could also choose a draw. It's almost as easy as true or false. That's nice gambling in its own respect.

Just a Curious question mate, Why does a Pros Platform Need to be zero House edge?
I believe that almost each gambling site and platform has House Edge yet they re super legit and trustworthy.
This is  a Good Point Because it will be like a Monet pot that Winner will take the amount without third party .
This can be in Cons ,Offering this are open to any platform so I think this is not that Big factor.

The trump and biden betting was one of its kind and we do not get such gambling bets normally. The betting results are mostly crystal clear and gamblers are paid instantly after the result. But in case of this US election, winners payments was delayed until it was verified hat biden has won.  However, the only caution which we should take is to bet in a trusted platform so we do not face any withdrawal issues.

Though not Totally the same as Trading But since they are Both predicting meaning No assurance and  nothing is certain.

Maybe Some of them get it close tot eh outcome but chances of Failure is always on the other side ,Analysis Gives Closer view but not 100% correct.
Actually they are using the statistics and the Ability of each teams/players comparable to the opponent ,because each team/players has their own weaknesses and capacity ,things that at some point can beat one but lose in another , and this is why Odds is very popular in gambling,because of this analyzation .

The bookies don't want to have trouble just in case they're about to send the winners their money. It's an issue that's understandable for both sides, in the side of casino that don't want to release any amount and makes it pending due to its situation.

While on the bettors who have won and bet for Biden, it's also understandable that they're already a winner and deserves the win that they should receive. It's just only a matter of a few more days/weeks until there's an official turnover in the white house.

That is right. Prediction in trading can give us the chance to make money, but prediction in gambling can not always give us the chance to win because that will depend on many things. So even if we are making a wrong prediction in trading, and we lose the money, we might have a chance to recover the loss from trading. It is a good place for gamblers to place their betting on that site because there are many gambling predictions available on that site. But be careful, you need to control yourself to spend your money.

Anything may happen as days goes by so Casino's are just taking the precaution ,and besides Holding the Funds has 2 Meaning ,Either the Casino is trying to Scam the Winner (things that we commonly read here in forum) or The casino only protecting their Name and also the gamblers.
The Problem here is the legality ,because technically Biden already Won the Election but the problem is Trump is Still the president  and admit it or not he still has the power before handing the presidency to biden.

Maybe this will serve as lesson and warning to the next election ,and this will be included in the terms before accepting bets ,as there are so many issue coming out because of this uncertainties .

Good thing that Case like this happens in our generation so the Coming Election will be having deals and rules for the benefits of all.

In my case, I can add for cons as I really hate KYC so I will put it in cons. A betting platform that is very strict in their users activity and will require a solid KYC in order to prove your innocence.

Other cons will be, a betting platform that takes more than 24 hours to process the withdrawal or they are doing it manually. And also a very little choices of withdrawal and deposit for crypto options is a cons for me because most of the users preferred to have plenty of choices in depositing or in withdrawing their funds.

As you guys rightly said, the delay came from the upset that followed the election of the United States President, we'll saw what happened immediately after the election between the incumbent President and the President elect, it was a total confusion indeed and this could be one of the major reasons these payment to gamblers was delayed, and this could equally happen to any sport that decisions aren't transparent.

There's no harm in trying new sites as long as we diligently study it or seek ideas from others, we are in modern world and digitally products or websites that are better may be built with new platforms or website so all we just need is to know how to research and keep our access safe and away from phishing or scammers. We will discover more better crypto thru exploring we just need to put more effort in keeping us safe.

I cannot understand the other - how do people distinguish between house edge and fees? Ultimately, both are just a payment for the fact that the casino operates and provides you with a service. Changing the name does not change anything - any project cannot be free because infrastructure and employees require money.

I guess the main difference between the two is the win probability because if there's a house edge it'll always affects your chances of winning no matter what while the service fees would only affect the payout.

I agree the service fee is only a small positive since there's still cons that comes along with it and we rarely see casinos have success with pvp games or parimutuel betting on sports nowadays.

Don't forget that you can make money in both prediction in trading and prediction in gambling. The most important thing to remember is that you are making informed predictions. It does not matter much where you are making predictions. What matters most is that you are not just placing predictions blindly. You are making predictions based on a complete analysis of statistics and other factors.

What makes prediction in gambling much better than prediction in trading is that the market is very wide so you can focus on your area of expertise such as NBA or space exploration or US politics. And better still, you can actually sell your prediction bet for a profit even before the actually decision comes, like the feature of Futuur offers to its users. That's not available in trading.

As long as Some gambling friends of Mine betting on the platform ,i consider this legit because those friend of mine are really Good in checking Sites and the probability of being worth trusting .
Exactly the fact ,Casino Need to Earn to continue operating that's why I am really curious why some people here insisting their legitimacy and  Good reputation ,not knowing that Given They don't take house edge for sure they will have other way (without our knowledge) to take the charges and for me ,this is More misleading and not trust worthy comparing to obvious House Edge profiting ,as long as not abusive and high .

I fully agree with you, a casino needs to turn a profit otherwise it can't survive. There are operating costs for an online casino like, servers and IT maintenance, continues updates to the software, Support Staff and Legal and Accounting Staff. Without all these things in the background a casino can't operate properly. Every country in the world needs to turn at least some sort of profit to survive the long term.

Exactly. So that prediction can help us to win in gambling and make money in trading. Both ways can give us a chance to make money. But most people don't use prediction that they made because they use the other trader to trade and that makes them can not make money in trading. That happens too in the gambling games. Some gamblers use the other prediction without they collect or search by themselves. They think that it is easy to use the other prediction, but they forgot that prediction will need to analyze more to find the other important things that can help them to win and make money.

Both predictions from trading and gambling can give us the other benefits as you say. But we must remember that we must have many things to make the prediction and do not depends on the other predictions.

I don't think that they will scam. Some known bookies who have held the funds of the winners with a certain bet like the US election, just trying to be sure with their step before releasing it. They won't put a stain on their reputation and name just because of it.

His term is about to end and that's what the bookies are waiting for before the funds to be released. Just for the official inauguration for Biden. Yeah, I agree to you that they should add some terms towards holding and waiting for the official winner to be proclaimed so that the bettors who supposed to receive their winnings shouldn't worry and doubt it.

That same reason why we should think deeply how those gambling sites continues operating without House edges ,Not unless they will clearly state that in other side of gambling activities they are taking the funds ,i will still questioned the legitimacy of that casino.

And why need to Give up House edge just to look Unique to other gamblers ,because as gamblers Even in Smallest local gambling House Edge is implemented and we are use to this matter .

Predictions are fine to gamble, I have fun with them, but it depends on what you are predicting as well. For example I do not find logical to gamble on bitcoin price, because if you want to actually spend money on what the bitcoin price will be like, why don't you trade instead? If you think it will go down, you can short it, if you think it will go up, you can buy it (or long it). When those options are available already, "gambling" on bitcoin price prediction makes no sense to me at all.

But for example USA elections were prediction market as well, and I loved gambling on it, doubled my money on the last bet, but I had primary bets that I lost so I didn't made huge profit, still left in profit though. All in all prediction betting is all pro or all con depending on what you are trying to predict and not depending on the whole concept of it.

The next time, I'm sure some bookies will make an adjustment or modifications to the terms related to election betting events. They will charge this event to their experience.

It's just that, the recent Presidential election associated with lots of issues so it's ended up with some problems or delay settling some bets.

But honestly, I don't know, even one of those bookies, that still not settling the bet till now.

It makes sense. They just want to wait until Biden is now sitting on that High-Class Chair before settling all bets.

Since it's just a matter of only a few weeks before the inauguration, then parties should just wait.

Different story now if even after Biden officially claimed the office, there's still a pending bet although unlikely to happen.

i think what he said is an example of decision making and not totally gambling for fun because he did mind the outcome of the price prediction .

price prediction are also made for those people that are on the go and dont want real responaibility such as holding or trading but they can just bet , leave and come back to see if they win or not but you are always welcome there if you are already a trader or an investor , this makes your trading and investing game more exciting .

That's for sure, if there's some important events that are like this, they will create a term that won't require them a lot of time to wait which is going to be in favor of them and as well as their bettors. It is nice that they've experience something like this to avoid it in the future as a lesson learn.

If there would be bookies that won't release the bettors payout after the official announcement and inauguration then it's them that has the problem.

If you understand what you are doing, the chance is better for you whatever decision you'll take, predicting the outcome is not that easy as you have to do your research to have a good basis in each pick that you'll going to take, most gamblers use this venue to try their knowledge about to the type of gambling that they are into.

Not easy as it is and luck also have influenced in most of the time, take your chance and
wait for the outcome if your pick let you to win it out.

the thing is ,do we really believe and bet in prediction given ? i don't think that there is serious gambler that would do such a desperate and low chance of winning.
Where talking about Money here , are there someone who don't take responsible for His money?
i doubt it Mate,instead we are focus on the outcome ,so basically that prediction only created to favor either the site ,or the one who produce the predicting .

I really hope it's going to be as easy as that. I am really afraid there will be some kind of tricks next year and the bookies are not paying out our profits. The money is always taken directly for the bets but the the payouts always take longer.

This Election Leaves more learning to the whole gambling community ,This was never happen to our generation and even in the earlier so this was not anticipated though This constantly happening in other countries specially 3rd world when after election ,protest will surely follow.

But not USA in which the losing party Conceding once the election is over and this is what people expect Respectively .

Now gambling sites/Bookies are already  editing their TOS in preparation to the next Elections for this not to happen again.

We can generate a profit in both gambling prediction and trading prediction and i do agree that it is much better to place a bet in gambling while supporting your bets with your inner guts and gambling predictions because it has a lot of areas and you can specifically focus on what areas you wanted to trust your bet on it. Both are beneficial but i bet both has their own level or risks but as a gambler i would rather choose to make a gambling prediction than make a trading prediction, its just it isn't my kind of thingy i guess.

Well, we are most likely to chose if those are the options. Trading prediction is not my interest because one of the most difficult predictions that would take place especially in crypto space is crypto trading. This is why more news popping out that one had made loses in trading. Betting predictions are more exciting and reliable due to the fact that we can bet depending on our own interest and at the same time the advantage and risk calculations is in our hands.

Indeed, prediction in gambling has more advantages because you can choose from different fields where you have an interest and confidence that you can predict the result. Aside from that, since it's our personal interest we get more excitement watching and waiting for the result. While in trading, it's obviously much more complicated and hard to predict unless you are really knowledgeable about the market, that's why I also prefer gambling prediction.

Prediction betting has got to be the most tedious and boring gambling game there has to be. You literally sit there for hours waiting on something with a pretty low chance of winning. That's why fantasy drafting was made in order to liven the prediction gambling scene by giving you the illusion of control. And even then it only worked for a short while. So yeah, I pretty much listed the biggest drawback of gambling on prediction betting.

that is quite interesting and not many talk about prediction trading

I wonder if any place offers "trading-view-like" charts for odds over time
futuur charts are ok but hard to make deeper analysis and break into smaller timeframes if needed.

but indeed, it has simmilarities with trading but it's a different science.

No matter what site you want or what your preferences are, I would always start with a site that is licensed.
You have to build in for yourself with a certain degree of certainty that your money is safe.

That's true but that's not always the case there are some websites that doesn't have any license but consider as a reputable and trusted website well I was referring to bustabit but they are more on a online casino and not a betting website, I really think sports betting is different and should need to have a license.

Yeah right, you have a good control in terms of risk and bankroll management.

With prediction gambling you always have an options to continue or to quit same a like with trading where your choose gives you the
priveledge to adjust your loses and also gives you the chance to bank out your earnings as early as it will be.

I think all gambling games are basically betting or prediction games, it doesn't matter if it's a casino bet, sports betting or whatever is said to be based on strategy and luck but everything will still be based on predictions. So, I don't think there are any pros and cons when it comes to betting predictions, because the pros and cons will only happen to gambling itself and not about the game.

Im with this and i do see the same thing where i dont really care nor thing about pros and cons because those are just typical stuffs that you can see or able to encounter when you do make out some bets.

It doesnt matter as long those platforms do give out their best service on what you do seek as a bettor.It is indeed on gambling itself and not about the game.

As long it do give out on what you do seek for plus had been used by most people or public then that what matters.

I'm divided when it comes to prediction platforms because I've already tried a few myself. On the one hand they give a very good direction in which a match can go, on the other hand my chance of success was just over 50%. That's enough to be profitable if you apply strict money and balance management, but on the whole I wouldn't invest any money for it. It is the same with particular Telegram groups. They rarely manage to get more than 55% of the bets right.

50/50 is what we probably expect in gambling but base on my experience, I've only got 40% chances to win, sound ridiculous? That is why I don't give much time into prediction but much preferred to where I can maximize my skills and knowledge. However, if you are in sportsbetting, I saw the difference and our chances to win will be uplifted if we been closely following the event and in that way we are also familiarized every team performance and could be easy for us to choose which team to bet on.

and instead that is still prediction ,Even us can do our own prediction and who cares ?that's our money to ne at risk .
and they are giving this for free so are we to seek for more ,If you are paying for predictions they provide then you can demand for more accurate and rightful but if for free ,expect the risk and the level they will give you.
yeah ,and you don't have to rely in one site ,compare them all to get better decision, the more do favor is the more chances of winning.

It is not as boring when real money is involved. In fact, if you make predictions on a sports match you will most likely watch the game as well because you know that the game will either give or take money from you.

Personally, I can feel the thrill and adrenaline even in predictions. I have some predictions right now in Futuur involving real Bitcoin and I am regularly checking out the site for the result. That's what gambling brings. That's excitement.

I don't care about the Pros and Cons in any prediction Betting platform because i'm just looking into it as basis for my research .

They can predict anything they want but in the end i will still decide whom to choose.
So instead of seeking for who's the legit or not ,why not just look at their prediction instead because that will prove what kind of prediction maker are these Platform us.

Before we predict on a team, we need to have information or other data, so we can know which team will have a chance to win, and that can help us to select the right team.
But sometimes, using random betting can give us winning, especially if we are lucky to select the team.
You need to analyze deeper if you follow other people's suggestions or tips because they will not always have the right prediction on the team.
Using the match's history can also give us more information about team performance, so we can get additional info that will useful to us to select the team.

Pros and cons are needed as much as we need predictions, we should know how it will happen and how it will works with us knowing the website advantages and especially our disadvantages on it, I don't want to be shock one day, because I didn't know that it is the cons of that website so I rather know it now so I can decide if I will continue betting on that site or not. but this all depends on you, if you want the no one can please you.

But this requires a lot of work for the people who run the site. They need to keep constantly analysing and posting the pros and cons. While any bad bet might results in people withdrawing from the site. The monthly subscription fee probably needs to be fairly high to cover all the cost. In my opinion it's hard to auch a website successfully for a long term.

I don't think any of these cons are that big of a deal to makes it a deal breaker for any gambler.

But I think sport or non-sport prediction betting platforms should also include some other games like Dice and Plinko with above decent functionality to keep you busy when there's no interesting match or event going on at the moment for you to place bet on, that way you don't have to just use another website for that purpose, so in a way it's beneficial to that gambling website too as it keeps users from switching to another platform just because of that.

It's always nice betting against other players as opposed to the house.  With other players you get more "real" odds with the players you're playing with, like multiplayer video games vs single player.  It's also nice knowing that some players are going to win, instead of playing some type of satoshi dice style game where it's win or lose for you and the house.  I would image the casinos or whatever you call them would prefer a service fee type of setup as opposed to an odds based payoff that can expose them to risk if a long odds winner were to emerge.

Plus, with prediction markets you can put up some really wild predictions, which can add fun to the equation. 

I saw your signature OP, i know about that platform you're advertising which seems to be one of the new projects trying to spread this new type of betting. Well, i don't like it at all because there's no hause edge, they rely on their own token's growth i think which is not guaranteed and not likely to happen. I must say that i'm not a fan of this new betting era, at all.

I feel it is hard to make a gambling prediction because I am not a better person who can make a strategy or prediction. I feel better to predict the trading because if I am wrong in the prediction and already bought the coin, I can still profit. But if I am making a wrong prediction in gambling, I still lose the money. But I know that we have our decision to predict in gambling or trading, and we will do whatever that will make us comfortable.


I think the gambler will decide to play on the betting platforms or the other gambling games. And if they found that they will have a chance to win in the betting platform, they will try it, and so do with the other gambling games. But that can be a good idea if that site can add more gambling games to attract more gamblers to play. Or maybe they want to be more specific to become betting platforms that only give a betting to something that happens in real life.

Maybe you can share what the platform is to visit and check it to see how the platform works. If that is about predicting how much bitcoin will be at the end of this year, I only trust Freebitco.in. They already have that betting from a long time ago. Besides that, Freebitco.in is one of the old gambling sites which many people know. I don't mind seeing my money will be held by them until the betting end because I can trust them.

It's really a balance of factors.

If you want the best odds and want to name your own odds, then prediction markets is definitely the way to go.

But if you don't necessarily care about odds but rather want to just place a quick bet, then I actually think that prediction markets are terrible for that purpose. You will find much quicker betting action in centralized betting services.

^ I don't think if there is a gambling casino like this, it seems this means that your gambling casino is a third party that only holds the fund of the bettor. No house edge is total can be suspected a scam casino. Because how you will earn even a little for the maintenance of your gambling casino or a fund to be used just to improve your gambling review casino. I start thinking as of now why not this project makes an anonymous one. I would rather quit if there is untrusted someone who interacts with us.

there was an entire project dedicated to prediction betting (stox.com) but actually the coin has 0 or no interest at all.
it wasn't easy win (like capitalism people with high stakes win more) and just few cents were airdropped... definitely not a bargain offer.
I think that only "big players" could be profitable in such type of market...

In crypto universe the main negative aspect is the lack of gamblers in such platforms betting among themselves, what means there isn't liquidity in p2p prediction bets. Crypto gambling still relies  in third party platforms to hold users' funds and pay them accordingly, from the total casino's sum in case of winning. On the other hand, this negative point won't remain forever, because crypto gambling is becoming more popular each new day and at some point there will be enough gamblers to keep prediction betting platforms active with enough volume of bets to make it attractive, just like the fiat popular ones which are doing great right now.

If you want to have some fun then without a doubt it is better to just take the best odds casinos are offering you, that way you do not have to worry about whether or not someone else is going to take your offer as it happens on those betting exchanges, however if you are a professional or at least you have the ambition to become one then you need to learn how to lay odds that are favorable to you, otherwise you may as well forget about your dreams of becoming a professional sport bettor.

P2P markets in gambling doesn't really have that much customers and that makes them eventually die or they're trying to do something to make their market better than the others.

It's about the attraction that they're about to do. That's why some of the prediction platforms aren't really that popular because the volume isn't that much and if ever there are people that are interested on it, they're very few.

Maybe if a reputable casino adopts a feature about predictions and adds a separate betting prediction platform inside them, it will be catered by its existing customers.

I also wonder, aren't betting platforms adjusting their odds according to what people place anyway? I always thought that was the mechanism. Or is it all about the betting service provider to set the odds? When a lot of people out of a sudden bet on one team to turn out to be the winner, don't the odds go down such that it is worth to bet on the other and still make the house some money on the "spread"?

The choice definitely belongs to you but these prediction betting platforms compile information based on the team's history and winning rate over the years in order to arrive at a decision. After such compilation, they based their betting percentage primarily on their research- so basically, these platforms already did their research for you and you just have to choose who has a higher winning percentage than the other.

In betting, the one with the higher percentage of winning is always the one favoured. While this may not be the absolute case as there are cases where the underdog wins, but if I were to bet based on such data, I would definitely choose the team which has the higher odds compared to the other.

Yes predicting site came before crypto gambling got popular and the reason is prediction has been known with sports betting especially football which looks to be like one of the oldest sports. It has been around before cryptocurrency and so many football bets rely on it for their games. However it is not that predictions sites are perfect in winning games.

Nothing would be precise but somewhat following prediction betting platform could give you out some idea on why they had picked down those bets which would really be helpful on your decision making skills
which would really be enhanced if you do have those kind of behaviour too but its not really necessary for you to join up since yourself could make out the same analysis too specially if you are
really that knowledgeable on that certain sports and other ones too and this would vary on someones specialty and knowledge speaking of which.

I do not agree necessarily on this. You can actually do prediction betting (Is there any other kind of betting? Is anything not trying to predict a result and get money from it?) with regular phenomena such as "is it going to rain at point X in the next 5 minutes" just to put a silly example. Or is a white car going to pass through that street in the next 10 seconds? Perhaps these are not the best examples, but I am sure you understand what I am trying to say and that it could actually be fun.

Winning predictions were made out of different forms of data collection relative to the event. This mostly happens with the sports, and here the good thing is we play together as a pool and get our funds distributed according to the percentage we've contributed. These bets were completely fun, and in the past we've got few platforms to predict the price of bitcoin.

Though it is fun, nowadays the existence of different gambling sites have slowed down the interest over these kind of betting.

I'm not really a hundred 100% know their mechanics about creating the odds but probably once it was set and published, that can never change, or else, bettors will think something strange and could distrust the system.

Well, of course, if there are 10 people (as an example) who will win the prediction, then they have to share the total prize. That is what I think.

The house will keep making money no matter how many gamblers will win that day, that was their advantage. And for us gamblers, it is gonna be making fun, that's all and to win is somewhat a lucky day for us.

Gambling prediction is all about the skills and knowledge of the player of course the odds too depends on the player who voted or choose the team they want some of the platforms have their fee upon pulling up the prediction they made like if you wage a 50$ into a sports/e-sports betting and the match is near you have the chance to change team or cancel your wage but you didn't get the same amount like there's a deduction on it. But the other platform doesn't have this feature which is good less hassle and doesn't cost for us as a user.

We do not know their mechanics because we only know the odds after they announce it in their list so we can choose what sports match what we want. We do not have to think about that and only follow what is written on the list and we can decide what we want to choose. If we can win from that, that is good.

Hence, they already know how to share the total prize in their way and we do not have to ask them because that will be their secret. We can only enjoy what we select and wait for the result and hope that we are winners who can win for some money.

Cryptocurrency price prediction should stay in the crypto trading industry,not in the gambling industry.
If you want to make money by predicting cryptocurrency prices,then there are plenty of tools on the crypto trading platforms-leverage trading,Bitcoin futures,contracts for a difference,etc.
I don't see any point of creating some kind of crypto casino or bookmaker website,where the gamblers should bet money and try to predict the future cryptocurrency prices.
Such casino would have to compete against all cryptocurrency trading platforms and most of these platforms are already established and have a good reputation and thousands of users.
Betting on some events like the US presidential election can be done on fiat betting platforms.
I don't believe that a crypto betting website would successfully compete against the big fiat betting platforms on this gambling niche.

For now it's unlikely but it's still possible for crypto bookies to find success when it comes to mutual betting but most of them are lacking a community. Back then when skin betting was still popular it was surprising to see the number of people placing their bets on parimutuel bookies and placing a couple of hundred worth of skins wouldn't shift the odds. It might seem like a bad idea but I think it's only a matter of time until we see successful crypto bookie and instead of comparing competitors it's better to look at it in a different way like how they'd focus on improving their service.

These specific bets are not the main business of any platform. Rather, it refers to advertising, while the main business remains the same - sports betting. And as you can see in this area, many crypto platforms have been working for many years and are in great competition with traditional casinos, which, with all their advantages, inevitably have disadvantages.

Prediction via pool betting is now trending on defi like on Pancakeswap prediction contest that let user bet on the price of BNB. The multiplier of the bet will depends on the difference between the difference of the prize pool of each side. This game idea is with the prediction betting that you mention earlier. Many dapps are already creating different version of this game. Maybe on typical casino, This kind of game doesn't in demand anymore.

It's exciting though it also has a huge risk. Some might say that it could only be a pure business but it's something to look forward to when it comes to the latest gambling trend but I hope that they could adjust the odds and make everything fair for players.  It also needs specific in their instructions and polishes all the possible lapses.

It sounds like you're just seeking to setup a betting prediction service, albeit with a fancy front end but not explaining how you would improve the offering - there are plenty of prediction services here already with a more established track record that people can use instead. You talk about past events but hindsight is always 20/20, if you were that could at making predictions then you'd have no reason to come here and try to sell such a service. In reality if a prediction service can get 51-55% of selections right over a long period then it might be possible to eek out an edge if you have the capital, but it's highly risky and a bad streak can easily wipe out gains. There is nothing new or novel about what you're suggesting, people have been thinking they can beat heavily statistics driven bookmakers for a long time.

Thinking off on making their service a bit more better and something unique is something that an owner or would really do as long those tech and other unique ideas would really be implied out.
We know about those pros and cons but doesnt really matter much because we would really be heading into something which is interesting specially on gambling industry.
Thing here as a gambler then deal off things which does interest you the most because this is where real fun do begins but of course you should mind on about the risk.

I have seen for example futuur providing betting lines like presidential election and many other things, but they seem to lack in terms of advertising or promotion. If a platform is going into the prediction market, they need to actively promote their chosen field in the gambling industry to survive their business. Also, when it comes to prediction, most gamblers prefer to wait in shorter period of time. So they should select items with shorter duration of the outcome. Because the longer of waiting, people are not getting interested.

The fact that decentralized offers are developing in all areas is undoubtedly good, but for me the idea of betting on a cryptocurrency price through a pool sounds counterintuitive. If a person thinks that he can predict the price of a cryptocurrency, then classical trading will give him much more profit than a pool, liquidity and profit from which is almost impossible to predict.

Futuur does give out those kind of lines but we know that these events arent that something that could happen frequently and the rest are too long term before you bet results could be known and this is where they

do lost up interest by the community because of that one very common reason on which not all gamblers would really be that patient on waiting for long just to know those betting results.

They dont lack marketing and stuff it is just that lines offered isnt something that do really interest the community.

Personally I have always found odd there is such a disparity in the popularity of some games in the market of cryptocurrencies, after all we have some really popular games like dice that attract the attention of a great number of gamblers but then we have other games like poker and P2P markets that get almost no attention at all, why is that? Is it because unlike regular casino games in P2P games you need other players to gamble against and it is difficult to get enough volume?

There are already betting prediction sites out there - you can see it in the similar odds across dozens of bookmakers. They are using a long history and statistical evidence to formulate those odds, because history tells them that over the long term they will win by adding a small margin of safety on top. This sort of service would be redundant from day one because it cannot offer any particular advantage to the users. Where do you think these extra special predictions will come from? If any happen to be identified then the bookmaker offering odds against would be swamped and their prices automatically adjust to make it worth their while. The only way to take advantage of such small pricing discrepancies is to have a lot of money and basically automate it solo.

That's more likely could bring you the advantage that you are looking, if you can invest using a huge amount of fund and patiently do your research

looking for value bets that will give a small percentage of earning, sorting it up from time to time will surely provide a very decent amount of profits.

It's not easy but more practical than looking for those automated which you needed to pay for their services.

Cons is not cons. At least, is all the same with centralized casino services. The main differences (and pros, yeah) this is your two first points. The fact that your winning doesn't affect income of platform is very very good.

Another pros is that you can bet on events which is not presented in ordinary betting or gambling, like bitcoin price. 

I dont really consider betting on gambling could really be treated out as an investment because its a leisure thing connected and it has nothing to do for long term aspects.
Even if you do deal with strategic type of games but doesnt mean that you would make out big profits anytime you do play. Play on means of entertainment and dont go beyond
that border if you dont like to experience problems then better not to have this kind of treatment towards gambling or betting.

That does not really seem like a game in which people should be interested, and the reason for that is that we need to have a very strong distinction between gambling and trading, gambling is supposed to be an activity that we do for fun, and as such there should not be any problem with losing a little bit of money each time we play, but when it comes to investing then everything should be about making profits, but at least to me the games that you are describing are trying to mix the two making many people believe that they can do both, to obtain profits and get some fun, when most of the time this is simply not possible.

I have seen in freebitco that they still have their regular betting lines regarding price prediction of btc, eth & fun token.
So maybe, this kind of betting doesn't attract anymore in some gambling sites, but I believe freebitco is still gaining a lot of bettors on this aspect.
I also believe, it is how the platform presents their betting lines here or promotional incentives offered to their players to sustain their interest.
They need to add other games or features aside from the prediction betting lines, because gamblers need to see or play other games while waiting for their results.