Is polymarket going to dominate vs online casinos?

[bittraffic]

People started trying out the bets in polymarket since the US election because it seem to be getting popular when the mainstream media reported the platform.

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.

[Oshosondy]

I think this question is directed to individuals directly. So let me give my answer directly also. I have not used any gambling site that does not have announcement thread before except before I knew this forum that I was using fiat casinos and sports betting sites.

I have heard of Polymarket before since 2 years ago or around that time. If you know about cryptocurrencies and reading crypto news, you will know about Polymarket. But I have not bet on the site before. I will prefer to use the gambling sites that have their announcement thread on the gambling board on this forum instead.

[Free Market Capitalist]

I don't think so. Polymarket allows you to bet on certain events, but does not have roulette, slots and other games (as far as I know). Surely it has found a niche market and will continue to grow but if I play in a casino and I want to take part of my deposit to bet on events I can do it comfortably in the same casino and then I do not think that polymarket steals market share in this regard. What I do think is that the event betting market is going to grow in the next few years and both casinos and polymarket can benefit from it.

[Richbased]

Polymarket will not dominate online casinos because online casinos has more unique features than the polymarket where you can choose variety of sporting events and so many options to bet on them unlike in the polymarket. The only reason why i think the polymarket is gaining audience lately is as a result of the fact that big gamblers are now making predictions using the polymarket since it also involves buying and selling of shares of futures events. Though online casinos also place odds on future events but it is mostly on a specific period of time.

If not that the Polymarket covers bets from different events of things happening in the world, both sporting events and non sporting events, i don't even see anything special about them. Another thing about the Polymarket is that the odds are not fixed, unlike in gambling where the bookies fix odds according to their judgement about a particular event, so people may literally not like a platform where the odds are being determined by the activity of production and purchase of people in a particular event.

Moreover, majority of people are mostly interested in betting only on sporting events which online casino is there to offer.

[mindrust]

Seems so. Prior to the election, I wasn’t even aware of polymarket’s existence and nowadays everybody knows about polymarket. That’s some serious progress in marketing. However as far as I know there isn’t any big event in the near future so polymarket’s fame may diminish slowly.

When was the next world cup? Polymarket will make it to the headlines once again when that time comes.

[Strongkored]

I think this is the same as CEX and DEX, traders consider DEX safer but they also find it difficult to completely use DEX so CEX remains an option when DEX cannot meet what traders need.

Polymarket may get more attention from gamblers but unfortunately not all gamblers' needs are available there, so gamblers will use polymarket and also conventional gambling sites where all games are available not only betting market but also many games provided by many providers.

[Chikito]

People started trying out the bets in polymarket since the US election because it seem to be getting popular when the mainstream media reported the platform.

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.

It seems interesting, but no other crypto option we can choose, there is only USDC, where we only have the option to deposit it from an exchange.

And there will be manipulation of opportunities also if big bookies place bets on small stakes.

[Upgrade00]

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.

I personally do not have much interest in placing those kind of bets, so I will not be switching to it and I do not see it dominating off that front. They could in the future adopt more casino games but that will be moving away from their current market and they will be fully in competition with the lots of other online casinos available. They will also need more regulations to be available in more countries.

More events like the US election will make it popular, but I don't see polymarket dominating the market.

[Apocollapse]

Why polymarket? AFAIK polymarket not yet accept Bitcoin and other altcoins, they only accept USDC. We have a kind of this market prediction in this forum, named Futuur.

I don't think polymarket is going to dominate gambling industry, such kind predictions mostly have low interest except for big events. Unlike sports, slots and table games where the gamblers already know how to play and familiar with it, they don't have to start from beginning to know learn the events.

[Davidvictorson]

What I do think is that the event betting market is going to grow in the next few years and both casinos and polymarket can benefit from it.

I agree with you. For now Polymarket is unregulated. People "bet" on predictions. There are no odds like an online casino. And it is still in my estimation complicated for people to understand. I see it as a place where people who are interested in betting but not on the regular type of casino games go. It is like "putting your money where your mouth is" kind of bet. It looks kind of more inclusive to me where there are no special skills required other than knowing the events where you are willing to bet on. The government won't like it and soon they will regulate it. It will grow as big as casinos unless casinos add more event types that people can bet on when they visit their platform.

[mu_enrico]

And it is still in my estimation complicated for people to understand.

+1 It's difficult for me to understand it as well since there are "yes" and "no" plus "buy" and "sell."
So the learning curve is there and it might drive away people who are used to the common betting system. So yeah the market-maker type casino will still exist, along with the prediction market like this.


I've heard of polymarket but never accessed it previously. Thanks OP for bringing this up since it turns out pretty awesome

[Frankolala]

What I do think is that the event betting market is going to grow in the next few years and both casinos and polymarket can benefit from it.

I agree with you. For now Polymarket is unregulated. People "bet" on predictions. There are no odds like an online casino. And it is still in my estimation complicated for people to understand. I see it as a place where people who are interested in betting but not on the regular type of casino games go. It is like "putting your money where your mouth is" kind of bet. It looks kind of more inclusive to me where there are no special skills required other than knowing the events where you are willing to bet on. The government won't like it and soon they will regulate it. It will grow as big as casinos unless casinos add more event types that people can bet on when they visit their platform.

It's all about future predictions and you are placing your bet by choosing YES or NO that such event will happen in future or not, while the odd is calculated by the probability of the outcome. I will like to use polymarket to place my bet on upcoming big event but not to play casino games, because polymarket is based on predictions only and that's why you can gamble on sportbet there. Personally, I feel that online casinos will always be growing and making funds because of their own unique features and services, likewise polymarket. No one would outrun the other just as online casinos will not outrun land based casinos.

[ethereumhunter]

I am not yet try the platform because I still like to playing gambling using the regular one. But if someday I am curious with the popularity of the polymarket, maybe I will try it. I don't know if polymarket can grow more than now but looks at what happen to crypto can makes that market bigger.

A gambler search for the unique platform that can satisfy them so if polymarket is what they looking for, they will use it and shifted to that platform.

[kotajikikox]

People started trying out the bets in polymarket since the US election because it seem to be getting popular when the mainstream media reported the platform.

You’d think that being investigated by the government would have done its reputation badly but are they getting more customers because of that one case during the American election? I guess even bad publicity is publicity. And to be fair, I don’t think they were doing something heinous in the platform anyway.

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.

If you want to bet on absurd things like WW3, this might be the platform for you but I only bet on official sport events. So, no I’ve never tried it and I don’t think I ever will.

[BABY SHOES]

Previously, I knew Polymarket but never accessed it, but recently after there was a case where Polymarket received accusations from the US government about Donald Trump's victory, this made this betting site back in the know, I myself looked deeper into this betting site...

Polymarket provides many types of bets ... but I myself am still confused to do it, so far have not registered at Polymarket ...
So to place bets like the Champion League is very different from casino sites that offer many odds, while in Polymarket it is like buying and selling, this is a little bit confused.

Moreover, only USDC is available... So until now, I still haven't tried it and wouldn't think of switching bets from casinos in general to Polymarket... a bit confusing.

[Cointxz]

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.

Polymarket only offer prediction bets while sportsbook offer the various games such as slot, live games, house game and sports betting.

I doubt that polymarket can dominate online casino while the game they offered is just the same by the bookies except from some random unique bets which is not always the favorites of the bettor.

Online casino is still the best for me.

[hedgeh0g]

Previously, I knew Polymarket but never accessed it, but recently after there was a case where Polymarket received accusations from the US government about Donald Trump's victory, this made this betting site back in the know, I myself looked deeper into this betting site...

Polymarket provides many types of bets ... but I myself am still confused to do it, so far have not registered at Polymarket ...
So to place bets like the Champion League is very different from casino sites that offer many odds, while in Polymarket it is like buying and selling, this is a little bit confused.

Moreover, only USDC is available... So until now, I still haven't tried it and wouldn't think of switching bets from casinos in general to Polymarket... a bit confusing.

Some players are attracted by this, that you can sell the probability when they become higher. But I haven’t tried to do this yet, because I’m not sure about some bets. And as for the Champions League, I still prefer to make such bets with the bookmakers I’ve trusted and that I’m used to. In Polymarket, I like to visit the site often and evaluate many predictions in the crypto section, it’s just interesting for me. I think that Polymarket will not become too widespread compared to large bookmakers and will not be able to compete with them, because it is necessary to surprise players with something more than just selling probabilities.

[swogerino]

People started trying out the bets in polymarket since the US election because it seem to be getting popular when the mainstream media reported the platform.

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.

No one can fight and win against online casinos nowadays, especially crypto ones as they offer everything needed for every gambler and on top of that they make people addicted by offering several ongoing bonuses. I doubt Poly or whatever other thing can have a battle against such casinos and win to get more market share. No one would want to move from a platform offering everything to a platform which offers nothing new. Maybe there would be people who would migrate but I can assure that these people are the ones who want to quit gambling and won't last long there.

[viljy]

I don't think that's going to happen. Betting on events may indeed be fully concentrated on the Polymarket one way or another. But the field of gambling is still quite different. And this part of the entertainment sphere has been in the hands of the casino and will remain so. Therefore, I do not foresee any drastic changes in the near future.

[Fivestar4everMVP]

People started trying out the bets in polymarket since the US election because it seem to be getting popular when the mainstream media reported the platform.

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.

.
Lols, well, until now, I've got nothing to do with polymarket until now, though I agree that the platform is becoming very popular by the day..
But let's not forget the reason for this popularity, it's not solely because it's being reported by mainstream media as regards the US presidential elections that has come and gone, I think it's getting popular because of all the type of betting services they offer (and this is why the platform is making headlines on mainstream media in the first place).
I basically see the platform as a place where any one can bet on any event in the world, not just about politics or sports, (but like you did mentioned) even wars.

I may one day decide to join the platform and try betting on some of the stuffs that are being offered there, but if it's just about betting on sports games or anything related to rhat, I am satisfied with playing on casinos.