Is polymarket going to dominate vs online casinos?

[Darker45]

I haven't tried placing a bet on Polymarket but I browsed through it a number of times. I don't think they're directly competing against traditional betting platforms online. Handicap, for example, is a feature that's commonly used among bettors. Such isn't offered in prediction market. Parlay is another feature that many sports bettors also use. The same isn't available on the likes of Polymarket.

Long before Polymarket, I was already amused at Futuur's very wide betting options. You can bet on anything under, even beyond, the sun. You can bet on sciences, showbiz, politics, sports, and many others.

[Julien_Olynpic]

Polimarket has built a successful strategy for promoting itself in the betting market and will most likely continue to dominate the forecast market, unless it makes some stupid marketing mistakes. This platform has both pros and cons compared to traditional casinos. The cons include the fact that there are no games of chance based solely on luck. Although this may not be considered a minus. In addition, the presentation of the probabilities of events is in the form of percentages, and not in the form of bookmaker odds. In essence, it is a combination of betting and trading. The advantages of the platform include greater decentralization and the absence of a KYC policy. This is a good feature, but at the same time, it may become the subject of claims from regulatory authorities.

[Cryptoprincess101]

I was very surprised when I saw that people are betting on the date of the third world war, whether it will happen this year or next. I wonder, whoever makes the right prediction expects to move to another planet ? How do they come up with such thoughts? Or do people still not understand that a nuclear war will affect everyone, and the winner's money will be the least of his worries at that moment.

I will add that only because there are such crazy rates on Polymarket, I do not want to participate in this circus.

Hahaha, you can imagine such crazy bet, maybe when their prediction works for them, they would move to Jupiter or any other planet since they are tired staying on planet earth. Now, is that the kind of event that should be made available for people to bet on at the Polymarket? Even if it is as a result of the crazy rates that makes people to prefer making predictions on the Polymarket, it shouldn't necessarily include some kind of awkward events. Those who make predictions on possible war events have no clue of what war is all about because if they do, even if they are foreseeing it, they will pray for it not to happen than feeling they are smart and using it stake bets.

[FinneysTrueVision]

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.

[crwth]

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.

[_act_]

I’ve never used Polymarket but I was surprised to see it mentioned so many times as the main source for gambling odds on the Presidency. People were acting as though Polymarket was something special that could predict results. I’m not sure why it was singled out and elevated, but their team did a good job getting the name out there in association with the election.

I think it is because of the French person that bet huge amount of money which makes French government to recognize the site said they are looking into the betting site. That is just the main reason that I know of. Anything that huge amount of money is involved can be known to the public. The person won the money and that is another enough reason it can go viral.

[Dave1]

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.

Dominate? There are a lot of crypto based casinos, and we haven't heard anyone dominating the market as it is a billion dollar business. Maybe they can take a piece of the pie, but to say that they will dominate sports betting? I highly doubt it.

And besides, they have been in the market for so long if I'm not mistaken, however, they just got well known because of the US election. But there are also majority of crypto base gambling that also accepts betting on the US politics, so with that, it will be the same, it's that Poly was highlighted as they are now under scrutiny from US and French regulators.

[mammusu]

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.

I see Polymarket as interesting because it combines statistical and probability elements with a sensation similar to gambling, It can be an interesting way to follow trends and predict the outcome of various events including presidential elections and also other political issues, to be honest, I see Polymarket is more of a more complex gambling site by raising many issues that exist in the world of politics as their mainstay to hook a lot Visitors, however, it is important to remember that although these platforms offer different approaches, still the risks involved remain as in traditional gambling.

[CryptSafe]

This is funny and bet taken too far for a gamble. I think it is awkward of them to have made such a bet to take place because little things like this seems to influence a whole lot to happening. Maybe this was what the government were trying to avert why they got the CEO arrested and I hope they do not come after Polymarket again as a result of this because this is gamble taken too far. I understand that it could be for fun but I do not see this as a fun fact in any ways and this is not what we wish at the moment.

I think I've seen more than just bet on war. You will have no interest in most of the bets in poly unless you are somehow informed in advantage and have a piece of inside information that will make you bet.

Traders are also there to predict whether some coins are going to hit a price on a particular date. There are plenty of these on the crypto tab they have. But then if you are interested in this, we also have this kind of game in the forum. You don't even have to bet your coins, you just have to give your prediction. No risk.

There can be other no risk betting which is okay and commendable but that of betting for war or no war is what I really do not think is okay. It is actually not funny though as it just seems like one wishing for something they can not withstand if it happens. I think this aspect is betting taken too far. Yes there would still be people who would still vote but it should not be something we should just take for a play or joke. Somethings are better avoided to not take effect because in this case, war is not something one should be thinking of gambling with whether it is for fun or not.

[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.

Dominate? There are a lot of crypto based casinos, and we haven't heard anyone dominating the market as it is a billion dollar business. Maybe they can take a piece of the pie, but to say that they will dominate sports betting? I highly doubt it.

And besides, they have been in the market for so long if I'm not mistaken, however, they just got well known because of the US election. But there are also majority of crypto base gambling that also accepts betting on the US politics, so with that, it will be the same, it's that Poly was highlighted as they are now under scrutiny from US and French regulators.

I was speculating because its becoming popular and because casinos today even Stake is forcing people to submit KYC even when the gambler is just not spending a lot of money into betting.

If those privacy concern individuals especially the ones in the crypto community or from the Unix community, they may not really be open to just sign up to any online casino if it already asks real name before you even can register.

[Smartprofit]

The Polymarket Internet platform may achieve great popularity, but in my opinion, this popularity may soon lead to the death of this project.

Governments of different countries are not thrilled with the possibilities of this platform. One of the tools of maintaining the power of the elites is control over sociological forecasts. If people get the opportunity to receive information about what the majority of people in a particular country actually think, then this will threaten the power of the elites.

Decentralized platforms are dangerous for the ruling elites in principle, and a platform like Polymarket is especially dangerous. Therefore, Polymarket may face a ban on its activities in many countries.

[xLays]

I just know about this Polymarket because of the US election, and if I'm not mistaken, they're facing some legal issues because it was allegedly used to manipulate the US election. Somehow, it's like voters supposedly followed the current standings on Polymarket.

For me it looks like Polymarket is popular or will dominate for election-related bets, but not so much for NBA or sports betting. I still prefer regular betting platforms where you just place simple bets.

[Ultegra134]

I’ve never used Polymarket but I was surprised to see it mentioned so many times as the main source for gambling odds on the Presidency. People were acting as though Polymarket was something special that could predict results. I’m not sure why it was singled out and elevated, but their team did a good job getting the name out there in association with the election.

It became extremely popular during the U.S. elections; I don't believe it was that popular before they took place. I personally didn't know about it until recently. The truth is that they offer an extremely wide variety of bets, even unusual ones (they even feature the Romanian electrions now), regarding the war in Ukraine or the Middle East. It's an interesting concept, but I don't think they're going to dominate the market; they're a prediction website, and even though they also have sports, they're not a casino offering games, which is something gamblers are after.

[Forsyth Jones]

I hear more and more about Polymarket here on the forum, but I haven't accessed it yet. As far as I know, Polymarket is more focused on betting on events, for example, who will take over the presidency of the EUA, as happened in this Trump election.

I believe that casinos, igamings and sportsbooks, as the traditional means of placing bets, will still reign in this betting market for a loooong time.

But this got me excited, who knows, maybe one day I'll place a bet on Polymarket, once I get to know the platform.

[Saint-loup]

No you can't say that either, betting markets about sports are way less numerous than on sportsbooks, they are less options and features too. And I'm not even talking about bonuses, promotions and tournaments. So i don't think this platform is more interesting than sportsbooks for sport bettors unfortunately, they may find exotic markets but not the sophisticated ones.

[len01]

Both parties have their respective advantages because they have significant differences, but will still prefer online casinos over polymarkets.
I have never bet there but have seen anything in it and in my opinion it is very boring because the options we choose are not interesting and more attractive to online casinos.
So there are no worries in the future because online casinos remain the best in the future.

[doomloop]

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.

I actually think that a lot of traders prefers CEX and even if you look at it, CEX is more popular and bigger than them. DEX offers privacy but in terms of security, I also think that CEX can still win. Both can experience hacks and other anomalies but I think DEX's has more reports of it and more values are lost on them all through the years. We won't talk exchanges here for no reason but that is because Polymarket had some of it, so it was actually those who are into financial markets like the traders are the ones that can have more interest on it than the gamblers, though traders still take a lot risks, so they can still be considered as gamblers.

[Crypto Library]

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.

To be honest I am hearing about the polymarket but after seeing your topic I have just explore about it and visited the Polymarket.com and seriously I love it simple interface and with the easy interaction. This is a really an user-friendly betting site and they have also a high value traffic. Its interface and easy system are attracting me to shift here and I will try to gain experience in it very soon.

Even then after all the positive things I found here I want to say that it doesn't mean that they will replaced the online Casino I want to say that they were also a part of betting site like the casino's.

[Z-tight]

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?

I have not shifted to it, people who like to bet on events like politics will probably try out Polymarket. The casino i use offers everything i need as a gambler, so i do not have any reason as yet to make a shift to a different platform. I agree that the popularity of Polymarket increased in the period leading up to the U.S election and also when FBI raided the home of the ceo of the platform and i believe their customer base probably increased afterwards.

[Charles-Tim]

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?

I have not shifted to it, people who like to bet on events like politics will probably try out Polymarket. The casino i use offers everything i need as a gambler, so i do not have any reason as yet to make a shift to a different platform. I agree that the popularity of Polymarket increased in the period leading up to the U.S election and also when FBI raided the home of the ceo of the platform and i believe their customer base probably increased afterwards.

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.

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