Is polymarket going to dominate vs online casinos?

[Reatim]

Polymarket is not having any casino games. It is not a casino but a betting sites. What I noticed on this forum is that most people do not know the differences between casinos and bookies. Polymarket is a bookie.

According to definition, bookie is a slang for a bookmaker which is a person that manages betting money by receiving them and also paying them out to winners. But does that count for a platform? It has now become a betting site. Is there a difference between casinos and betting sites? Would love to hear it!

If you want to bet on United States presidential election, you can also make use of Stake.

What does casinos have that set them apart from betting platforms and vice versa? Does casinos not have betting events like this that aren’t necessarily sports related? Because if yes and stake has this kind of betting event, why is it promoted as a casino? It’s even defined as one.

Please correct my points if I understood this all wrong.

[tvplus006]

What does casinos have that set them apart from betting platforms and vice versa? Does casinos not have betting events like this that aren’t necessarily sports related? Because if yes and stake has this kind of betting event, why is it promoted as a casino? It’s even defined as one.

In my opinion, the essential difference between Polymarker is that you can close your position and make a profit even before the event that you bet on. That's how I made a profit by betting on Kamala Harris when she was just nominated for president from the Democratic Party. If I had continued to hold the position, I would have ended up with a loss.

[bittraffic]

What does casinos have that set them apart from betting platforms and vice versa? Does casinos not have betting events like this that aren’t necessarily sports related? Because if yes and stake has this kind of betting event, why is it promoted as a casino? It’s even defined as one.

In my opinion, the essential difference between Polymarker is that you can close your position and make a profit even before the event that you bet on. That's how I made a profit by betting on Kamala Harris when she was just nominated for president from the Democratic Party. If I had continued to hold the position, I would have ended up with a loss.

This is sort of a cashing out in sports betting platform I have also done this to stake. The advantage in Polymarket I think depends on the individual especially if the bettor have an specific information. But for us all we are just blind speculators.

Following the Kamala vs Trump race is easy because there are polls and people are reacting on social media.

[moneystery]

Casinos offer different bonuses and VIP benefits. Prediction markets do not have those things from my understanding. Polymarket’s purpose is to use the collective opinion of many people to forecast future events. Although there is many similarities, they operate differently from traditional casinos. Some people might prefer prediction markets, but casinos will always have their place.

agree with what you said that even though polymarket offers various predictions and allows people to bet on it, but casinos still have the best place in the hearts of gamblers. polymarket is only limited to predictions, even though the events here are usually more and you can even find random events that you can't find in online casinos, but still casinos offer games or bets that gamblers can play without any problems there and of course one can get bonuses and VIPs as you said.

[traderethereum]

Maybe Polymarket can grow like other crypto casino especially if they are good in doing the promotion. Without having a good promotion, they will not have a chance to compete with the other crypto casino. That is what the Polymarket needs to do if they want to grow their bookies site so they need to work hard and smart to achieve their target. I never try to use Polymarket to place my bet and still use my crypto casino list.

So yes, that will depends on the individual preferences whether they want to move into Polymarket or still use their casino as usual or use both Polymarket and their casino.

[bitbollo]

it's hard to predict what they can implement in the long term. even with a massive marketing they have an hard competition ahead.
their biggest advantage should be related to the bets they are offering and volume! all gambling exchanges need enough volume to continue to operate.

[Jawhead999]

Maybe Polymarket can grow like other crypto casino especially if they are good in doing the promotion. Without having a good promotion, they will not have a chance to compete with the other crypto casino. That is what the Polymarket needs to do if they want to grow their bookies site so they need to work hard and smart to achieve their target. I never try to use Polymarket to place my bet and still use my crypto casino list.

So yes, that will depends on the individual preferences whether they want to move into Polymarket or still use their casino as usual or use both Polymarket and their casino.

In some countries they only allow betting, but they ban casino games like slots, roulette, etc. I have no reason to say what they did that, it's back to their own regulation, so I think Polymarket want to focus with their betting instead of having their own casinos.

In my opinion, the essential difference between Polymarker is that you can close your position and make a profit even before the event that you bet on. That's how I made a profit by betting on Kamala Harris when she was just nominated for president from the Democratic Party. If I had continued to hold the position, I would have ended up with a loss.

So it's like there's a stage? you won when you bet Kamala Harris to be nominated from the Democratic Party, but you're not sure she will win the election, which make you choose to cash out?

[tvplus006]

In my opinion, the essential difference between Polymarker is that you can close your position and make a profit even before the event that you bet on. That's how I made a profit by betting on Kamala Harris when she was just nominated for president from the Democratic Party. If I had continued to hold the position, I would have ended up with a loss.

So it's like there's a stage? you won when you bet Kamala Harris to be nominated from the Democratic Party, but you're not sure she will win the election, which make you choose to cash out?

As the election race progressed, the coefficient for the presidential candidate's victory also changed and it was possible to close your bet at any time and make a profit. It's like trading Bitcoins, buying at low and selling at high) As for why I closed the bet, so there is a sociology that said that Kamala Harris has a lower probability of winning than Donald Trump.

[Akbarkoe]

In the end it will end up with their marketing competition and prospects to the future, they become booming after their many many are in Trump yesterday and that made their names appear to surface, it is a common thing for a casino in notice in big events like and yes now they will compete With so many large casinos that have been built for a long time and have a much larger capitalization, therefore in the monopoly or not depending on how they attract their customers.

[mirakal]

I just now checked this Polymarket, and it seems interesting. I like the probability statistics that it could provide and the thrill factor that you could get in gambling. It's possible that there is a market for both, but the best way to take it is that it's the same thing, just on different platforms.

It's still gambling.

Its not actually like a traditional gambling site, but all its activities still resembles like a gambling platform.  That’s why the thrill and excitement is there, just like gambling platforms, but Polymarket focuses more on the prediction for the future outcomes of an event while real gambling sites prioritize wagering money on various forms of entertainment and chance and luck based activities.

[coin-investor]

It is just lately that Polymarket is in the limelight and people are joining out of curiosity like you.
It will take sometimes before we know if Polymarket is going to dominate, no new casino can come out to take away what these top casinos built over the years.
The interest will eventually diminish, and gamblers will be back to their old casino that they used to play over these years. You know old habits are hard to break, and this is very true for gamblers.

[AmoreJaz]

It is just lately that Polymarket is in the limelight and people are joining out of curiosity like you.
It will take sometimes before we know if Polymarket is going to dominate, no new casino can come out to take away what these top casinos built over the years.
The interest will eventually diminish, and gamblers will be back to their old casino that they used to play over these years. You know old habits are hard to break, and this is very true for gamblers.

Polymarket offers a wide-ranging of betting lines basically from any topic that they think would have some bettors. But the casino games will always have their own patrons and so as the reputable casinos offering such casino classics. Polymarket and futuur are example of betting sites where you want to go out of the usual zone of a regular gambler. But let us face the fact that these gamblers will also go back to the usual casino games from time to time.

[KiaKia]

Polymarket is good for prediction based gambling like UFC, Sports and others but it is unlike casinos, Polymarket doesn't have Slots games and Roulette, I've seen how accurate polymarket can be at times since it is base on data and voting, but it is possible to still lose money there too.

It is a matter of what you want as a gambler, I won't bad talk about polymarket because it is actually good but casino games are completely absent on there, there is nothing wrong with using both platforms as many gamblers are using more than four different types of online casinos.

[Cryptomultiplier]

One of the reasons why I think Bitcoin is and will remain very successful as one of the products of the decentralized system is majorly due to the fact that several working and successful innovations that sprang up, has enabled the use of cryptocurrency assets and is a testament of the efficiency of decentralized system.

Although Polymarket is still a newer project with less chance of dominance over traditional online gambling sites, it would aim to carve out its own niche because it appeals to users who have a strong value for anonymity , decentralization and cryptocurrencies.
With more adoption, am sure the regulatory concerns will become clearer, because if one comes to understand the polymarket, they would see that it supports betting on the outcome of real world events like as concerns politics, sports and even finance.

[Hispo]

Polymarket is good for prediction based gambling like UFC, Sports and others but it is unlike casinos, Polymarket doesn't have Slots games and Roulette, I've seen how accurate polymarket can be at times since it is base on data and voting, but it is possible to still lose money there too.

It is a matter of what you want as a gambler, I won't bad talk about polymarket because it is actually good but casino games are completely absent on there, there is nothing wrong with using both platforms as many gamblers are using more than four different types of online casinos.

Well, I am not sure whether it is a completely fair thing to compare Polymarket with other bookies or casinos. Polymarket is obviously being marketed to a certain kind of public which is seeking to participate in betting of specific events and are not interested in casino games or traditional gambling (in form of dices, Plinko, mines, or blackjack).
Some it should not be a downside for people who are sure what they want and they want to get it from Polymarket.

Though, you should be advised, Polymarked seems to be used investigation by USA authorities for not being properly registered in the USA to offer their services to USA citizens.

[traderethereum]

In some countries they only allow betting, but they ban casino games like slots, roulette, etc. I have no reason to say what they did that, it's back to their own regulation, so I think Polymarket want to focus with their betting instead of having their own casinos.

If they can accept betting available on their countries, that will be good for them because they can still gambling. Maybe Polymarket wants to have their betting site grow first so then they can run their next plan on where they want to go. If they think that having a casino games will gives more popularity, they will add it in their site. Or maybe they are still research the gambling industry and see what will happen later.
We never know what is their plan and people can still use their site to place their bet.

[dansus021]

Is polymarket going to dominate vs online casinos? You hear the news it happen like month ago that - FBI raids apartment of election betting site Polymarket's CEO and seizes cellphone, source says
The FBI raided Shayne Coplan’s home after the website's election betting market controversially predicted Donald Trump's win. - https://www.nbcnews.com/tech/tech-news/fbi-raids-polymarket-ceo-shayne-coplans-apartment-seizes-phone-source-rcna180180

If the US Gov want to take this seriously it could be doomed of the polymarket but if the polymarket could win the case maybe it goin to dominate the online casino

[Dr.Bitcoin_Strange]

That is because polymarket  allows its customers to bet on the outcome of events that is happening in real life. So, events that you will likely find on the polymarket are based on real life event.

To answer your question of whether poly will dominate over casinos, It will not and the reason why I think so is because casinos has a lot of games that players love to bet on for an instant short term reward, meanwhile the polymarket's bets is based on the event that is yet to take place. Most gamblers are gambling on casino games because they want instant reward.

[stompix]

No, because they are working differently!

Polymarket is a prediction market, just like the name implies, you don't 'bet', you trade options for those events, if there is no gain for it or there is no active market then it's useless, nobody is going to go through the trouble of setting 200 markets for one single event on that platform.

What polymarket competes with is not casinos nor simple gambling websites for spots but gambling exchange options like these:
https://www.betfair.com/exchange/plus/

[acroman08]

When I finally tried it, I discover that most of the bets I do in casinos are also in Polymarket. Does anybody shifted as well?

Because from NBA, Football, Boxing and MMA are also in Poly. Anything actually, even the most horendous bet is on the platform even the question of whether there will be a WW3.

are you specifically talking about sports betting alone or not? because when you say "online casino" I'd assume the online casino with casino games, also, online casinos nowadays are a mix of sports betting and casino games. anyway, when it comes to dominating casinos, I don't think polymarket will be able to do it, online casinos cater for both sports bettors and casino game gamblers which is a larger market compared to polymarket.