prediction betting platform pros and cons?

[jademaxsuy]

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.

[seleme]

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.

[chaser15]

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.

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.

[stomachgrowls]

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.

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.

[chaser15]

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!

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.

[ethereumhunter]

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.

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.

[adzino]

-snip-
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.
-snip-

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.

[imstillthebest]

-snip-
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.
-snip-

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 .

[robelneo]

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.

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.

[goinmerry]

It remains to be seen if this kind of gambling is going to get support from the gambling community, gamblers want something new

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.

[ralle14]

What do you mean by something new specifically?

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.

[Darker45]

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.

[michellee]

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.

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.

[peter0425]

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 .

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.

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

Elaborate please ,what is predicting site?

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

[hahay]

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.

[Lanatsa]

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.

[maydna]

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.

[FinneysTrueVision]

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.

[bitterguy28]

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 .

[plvbob0070]

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.

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.