Sports betting casinos under threat

[knuckey]

In the current situation, it seems that casinos focused on sports betting will begin to lose interest. This is especially evident with the increasing popularity of prediction markets like Polymarket and many others emerging. The advantages of prediction markets include privacy, no KYC requirements, and higher profits compared to casinos.

Do you think this will affect all casinos that offer sports betting?
What do you think will be the worst-case scenario for casinos?

[serjent05]

In the current situation, it seems that casinos focused on sports betting will begin to lose interest. This is especially evident with the increasing popularity of prediction markets like Polymarket and many others emerging. The advantages of prediction markets include privacy, no KYC requirements, and higher profits compared to casinos.

Do you think this will affect all casinos that offer sports betting?

No, Casinos that offer sporstbetting are deeply rooted and the interests are different.  Aside from that, prediction markets are somehow in a grey area, and many people don't like engaging in such activity.  Rather than replacing, I think these two can exist at the same time, not stealing each other's market since people can engage in multiple activities anytime. 

What do you think will be the worst-case scenario for casinos?

The worst-case scenario for casinos is the regulatory board banning them.  There is nothing worse than getting banned.

[blomen]

the fact that prediction markets allow people to bet on almost anything happening in the world is a good thing from our perspective, i mean from the bettor’s perspective. i also think that increased competition in the industry will work in our favor. however, i don’t think anyone will easily give up the familiar casino environment just for sports betting.

i think new developments in the gambling industry are a good thing in every way. we should welcome this. prediction markets are very helpful in keeping track of how certain events unfold, and in casinos, placing sports bets is now simpler than ever.

[Frankolala]

Some countries will ban prediction markets just as we habe seen some that have already banned them in their country, because they don't want to pay tax and claim that prediction market is not gambling platform. This will make gamblers in those countries still use sportbook to place their bets. It's not everyone that will switch from casinos to prediction market based on their own reasons. However, it's good for a casino to have both casino games and sportbook.

[Woodie]

Are we saying Sportsbetting is no longer attractive to punters out there ?? If you ask me we are very much still in that area for as long as incentives keep popping up and the marketing doesn't stop either then we still have a thing going on here.. but the trade-off and benefits from Polymarket cannot be ignored that's for sure and at the moment they haven't just broken ground otherwise they will disrupt the gambling industry  

[Charles-Tim]

Do you think this will affect all casinos that offer sports betting?
What do you think will be the worst-case scenario for casinos?

We have discussed this few times on this forum. How should there a gambling site that only focus on sport, at least they should also focus on casino games. That will make them stand out because prediction markets can not offer casino games.

About sport betting, I kind of prefer Stake.com than any prediction market. It offers casino games and that makes me stay betting on sport also.

[EluguHcman]

In the current situation, it seems that casinos focused on sports betting will begin to lose interest. This is especially evident with the increasing popularity of prediction markets like Polymarket and many others emerging.

Your thread is not being specific, native casino like the crypto casinos focusses on the games of chance while other casinos too may feature both casinos and sport games which makes it very convenient for gamblers who may prefer playing both sides.

Don't be surprised that the poly market would even have the least enthusiasts and as much as I know, not all local gamblers who are aware they could even place bets on the real life events like politics and economy events.
Meanwhile... Sports bets is one of the most dominance betting events or games and therefore, I don't see it in the close time where poly market would surpass gamblers from sports bets interest.

[rdluffy]

I don’t think it will have that much of an impact on sports betting because the prediction market is quite different
Live betting, the wider variety of bets, the possibility of parlays, etc., mean that the opportunities offered by traditional casinos are much greater than those of the prediction market

I don’t think the prediction market will replace traditional sports betting
Given the way the prediction market works today, it’s practically impossible for an event to have as many betting options as it does in traditional betting

[sunsilk]

Do you think this will affect all casinos that offer sports betting?

No, the gambling industry is so big for it to make such affection for the sports betting.

What do you think will be the worst-case scenario for casinos?

I don't have to think of any of it because the more that we're going to think of how it will affect and give such worst-case scenario is on how we're seeing the sports betting itself.

For which I believe that it will continue to grow and there's just more choice to every people who likes to gamble with it.

[NurseHub]

In the current situation, it seems that casinos focused on sports betting will begin to lose interest. This is especially evident with the increasing popularity of prediction markets like Polymarket and many others emerging. The advantages of prediction markets include privacy, no KYC requirements, and higher profits compared to casinos.

Do you think this will affect all casinos that offer sports betting?
What do you think will be the worst-case scenario for casinos?

I doubt if casino focusing only on sports betting will lose interest just because there is a prediction market and not all countries will allow prediction markets too. Some might even ban it. And the countries that will accept it won't force gamblers to use it. Secondly, remember, not all gamblers are exposed to this technology, there are still local gamblers who won't notice prediction markets, and not every gambler aware of it will want to use it.

In the aspect of no KYC, not every gambler likes to use a site that doesn't need KYC either, some gamblers might also think it's a scam, and the higher profit might sound too good to be true. I am yet to see the platform that will shake sport betting with what I see in my own country.

[Felicity_Tide]

In the current situation, it seems that casinos focused on sports betting will begin to lose interest. This is especially evident with the increasing popularity of prediction markets like Polymarket and many others emerging. The advantages of prediction markets include privacy, no KYC requirements, and higher profits compared to casinos.

And do you think these factors are enough to reduce the interest in casino sports betting services?...
What about more important factors like simplicity_{(i.e something easy to use)}, or flexibility?. I personally haven't placed a bet on any of the of the prediction market so I don't know how easy it is to navigate and use those platforms, but sports betting platforms on the other hand are quite easy to understand and use, so I think this is an actual factor to also consider.

Do you think this will affect all casinos that offer sports betting?
What do you think will be the worst-case scenario for casinos?

I don't think it will have much effect. The worst that can happen is the coexistence of both platforms, but casinos with sports betting services are likely to have more users.

[jeremypwr]

No, I don't think sportsbooks (sports betting casinos?) are under threat from the growing popularity of prediction markets.
Some gamblers prefer the old fashioned way of making a bet while some gamblers will side with the prediction markets.
It's all personal preference surrounded by legalities which vary on the individual.
I don't think one of them will just eliminate the other; that is just ridiculous to think.

[|MINER|]

Some countries will ban prediction markets just as we habe seen some that have already banned them in their country, because they don't want to pay tax and claim that prediction market is not gambling platform. This will make gamblers in those countries still use sportbook to place their bets. It's not everyone that will switch from casinos to prediction market based on their own reasons. However, it's good for a casino to have both casino games and sportbook.

And also the insider trading is common in these prediction markets. We have already seen that Trump has been involved in insider trading on a large scale, even on the issue of war. His decisions and statements are always made shortly before that, and it has been seen that a large group of people create bets on that issue and in the end, events flow in such a way that they win.

And besides, betting on various absurd things has become a joke in these betting markets these days. And that's why I support countries that have banned such platforms. And also I want to say that the popularity and the demand of the casinos will never going to be reduce for this shits.

[macson]

Do you think this will affect all casinos that offer sports betting?

Even though prediction markets are growing, I don't think they will pose much of a threat to sports betting platforms, as each platform has its own user base and offers a wider variety of betting options. So, even though prediction markets are growing, more people will still be using sports betting platforms to place their bets.

What do you think will be the worst-case scenario for casinos?

The worst-case scenario is that more users switch to prediction platforms. However, this is only a worst-case scenario --- casinos will undoubtedly continue to innovate and improve the user experience to remain engaging and competitive.

[Coyster]

I don't see the risk for sports betting casinos. I for one have never bet on sports in a prediction market and there are so many people like me. I think prediction markets are gaining more popularity in politics, like election outcomes and other whatnots, than in sports. Casinos that offer sports betting would always be attractive and i cannot see them losing interest.

[masulum]

I don't think so, because every services has own target market. Predictions market targeted member that betting based on speculation. while sports betting provider have a lot of feature that used by user to gamble in sport not just for prediction the results of the matches but also another criteria. so, sport betting wouldn't under the threat, because they have own market user.

[Wiwo]

Prediction market is becoming competitive and platform like poly Market and gaining relevance because their are still at their evolution stage,  but we can't say that Prediction market are going to replace the old spirt betting format on casinos that we have been used to all the while,  so we shouldn't see them as a replacement to spirt booking platforms but rather a developing alternative to sport booking casinos.

I don't see Prediction market as a threat to the football/sport betting community in any way's.

[Hispo]

In the current situation, it seems that casinos focused on sports betting will begin to lose interest. This is especially evident with the increasing popularity of prediction markets like Polymarket and many others emerging. The advantages of prediction markets include privacy, no KYC requirements, and higher profits compared to casinos.

Do you think this will affect all casinos that offer sports betting?
What do you think will be the worst-case scenario for casinos?

Honestly, I think it would be rather an exaggeration to say prediction market webs like Polymarket are an immediate threat to the business of casinos which also offer sportbetting as part of their services.
On one hand, Polymarket and other similar services are currently under investigation by some regulators for allegedly being involved with market manipulation and inside trading, on the other hand, casinos already have a very strong and established bedrock of bettors and costumers who would not change of service so easily when comes to sports.

Not even mentioning that casinos which are regulated and comply with regulators do not have so many legal problems and threats as predictions markets have.

[Agbamoni]

I dont agree with you. Sports betting casinos will exist forever because they offer massive services in sports betting. In some countries, sports betting platforms generate the most revenue for the country. A typical example is in my country. People are more familiar with sports betting and would rather spend more hours betting than playing casino games.

Polymarket is still facing regulatory issues, as there are complaints about how difficult it is to regulate the market.

[Slow death]

Sports betting has existed for many years and isn't going away. What's happening with prediction markets is temporary. When these prediction markets come under government scrutiny, it will be a big problem for these betting sites. This is because it's unknown what kind of licenses governments would require, and I have no doubt that governments will force prediction sites to implement KYC (Know Your Customer).

Things like canceling the market, changing rules whenever the site owners want, are things that people will see happening a lot in prediction markets, and this will frustrate them and they will continue using normal betting sites. I have no doubt that this will happen. It's unlikely that people will give up using normal casinos to use prediction market sites.