prediction betting platform pros and cons?

[jademaxsuy]

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.

[imstillthebest]

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 .

[jademaxsuy]

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.

[AicecreaME]

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

[Fundamentals Of]

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.

[ralle14]

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.

[Coin_trader]

Pros,
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.

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.

[Reid]

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 .

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

[fiulpro]

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.

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 .

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

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.

[john_nautica]

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.

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.

[Fundamentals Of]

But the biggest con of this type of gambling is waiting time and I think this is the longest form of gambling ever which last for months and also reward distribution takes a lot of time as well, not sure that a regular casino gambler will have such kind of patience level.

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.

[xSkylarx]

What do you think about this prediction betting platform? Is it good for the gamblers?

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.

[Wexnident]

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.

[ralle14]

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.

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. 

[sunsilk]

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.

[Mauser]

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.

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.

[jademaxsuy]

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.

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.

[jademaxsuy]

I'd like to concentrate on the cons because gamblers wants to see what they are dealing with that is not favorable to them, prediction dedicated platform is very new in the industry although some gambling site has it as one of it's attraction, one of the cons that I can think of are long prediction, gamblers wants to see results right away and they don't want to store their funds in a longer period of time.

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.

[aioc]

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.

[Twinkledoe]

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.