Sportsbook + prediction market in one app... yes, you read it right

[Tetu100]

The challenge will certainly be regulations, so if it is possible to harmonize regulations related to sportsbooks and prediction markets, it is very possible to realize it. If there is already a platform doing it, even if it only accepts fiat payments, it is also very possible for this to happen with crypto payments.
Crypto casinos and sportsbooks also accept fiat, the use of crypto as a currency on gambling platforms is already common. I think the biggest challenge is only to combine concepts and regulations that can be agreed upon.

Since it has started happening in recent time even though it's not that common yet, is just the difference of time as we speak. Because sooner or later more platforms will follow suite and I'm sure it wouldn't be long just mark my words.

[Filicius]

Do you remember that not so long ago the casinos and the sportsbooks were separate and that we started to see more and more hybrids that offered both categories of gambling and betting? I agree with Tetu100 and others that it is very likely that in the future we will see many sportsbooks integrate this new category of predictive markets into their offer, as we are already seeing in some CEX and wallet apps.

It seems like the next logical step, except for platforms that want to differentiate themselves precisely in a very high specialisation in sports betting.

[Findingnemo]

When there is a huge market for it then crypto platforms will try to utilize it for sure.

Stake has always found ways to break the legal burdens so they will surely figure it out too so we can expect the one stop shot for crypto gambling too in the near future.

[Ruttoshi]

It's just a matter of time and you will see a platform having both prediction market and casino. When that time comes, government will know how they will regulate it to make it easier for both the owners and them the government.

For now, we haven't seen any yet just because prediction market is claiming to be a trading platform and casinos are still watching or thinking of the next step thing to do if it will be possible to have both in one platform.

[AmaGold70]

Imagine opening one app where you can place a sports bet, play casino games, and also trade on a prediction market using the same account. That is basically what Fanatics Sports & Casino has started doing.

IIRC, I remember someone asking before if there was already a platform like this, and now here it is. The bad news for us is that this is not really a crypto platform, but the good news is that we can already see that this kind of setup is possible.

Prediction markets have become very popular lately, so I would not be surprised if crypto casinos or sportsbooks eventually try to build something similar.

What do you think would be the biggest hurdle for a crypto platform trying to combine a sportsbook and prediction market in one app? I assume regulation would be one of the biggest problems since sportsbooks and prediction markets are regulated differently.

https://www.legalsportsreport.com/275510/new-app-merges-fanatics-sports-betting-casino-and-predictions/

Gamblers are actually looking for platforms that will make their gambling very comfortable with them, and of a particular gambling platform has inculcated these features in one place, I believe many gamblers will like it that way, instead of making your prediction in one app, then placing your bet in another gambling site. However, their is competition among these gambling sites, and every gambling platform want to gain the interest of gamblers by rendering the best services, on this note other gambling platforms would also want to do the same thing or use the same strategy in other to gain more users into their gambling app or website.

[POPOLUV]

If that is the case, then they will have to accept that prediction markets are in the gambling industry too. They keep on denying that, and yet here we are, a company trying to combine them all in one application.

I think the problem here is how they can get a license for everything. Also, it means everything will be in one office or in one place. With that many types of games and markets, it will be difficult to find a place where it is legal to operate everything.
It will be a lot of work, and it is probably the reason why they won't integrate cryptocurrencies yet. It's going to be bigger once other payment options are added.

I believe that the reason why they keep denying the fact that prediction market is not gambling, is best know to them because it is very obvious that every things still turned out to be a gambling after all and it is important as OP have the mindset of creating these thread that company are going to combine everythings in one application, shall the possiblity of these combinations to work out, is very high because for everything to be in one office is what i don't see coming through but i will still not conclude untill, i see how the company is going to archive all that in application.

[Haunebu]

That would only matter to me if they offered really good odds with low vig/house edge. If they did, then I would instantly sign up there and abandon some other sites I use regularly to place bets separately. If not, such sites would hold no value to me.

Why on earth would I want to shift from Polymarket/Kalshi which already offer both with excellent odds and liquidities for example? It all comes down to the value proposition basically.

[Pandorak]

To be honest, i see this as a great idea. Combining a sportsbook and a prediction market will make things much more convenient, no need to go back and forth between platforms, since everything is now available on a single platform. As time goes on, i’m sure many gambling platforms will adopt this approach, because it holds significant appeal for users. And as we know, the number of prediction market users has already grown quite significantly.

As for regulations, i’m confident that rules will be established sooner or later, especially if in the end many users become more interested in using the platform, regulations might even be put in place more quickly.

[nelson4lov]

Its only a matter of time before this will become the new normal. I don't know if anyone else can remember the time that sportsbooks and casino didn't miss. Now, Nearly 100% of all casino has a sportsbook product. Its all going to happen once details about the regulation has been ironed out.

It would be good for the industry too because then only a small group of people won't constantly be profiting alone from insider information.

[MRY]

To be honest, i see this as a great idea. Combining a sportsbook and a prediction market will make things much more convenient, no need to go back and forth between platforms, since everything is now available on a single platform. As time goes on, i’m sure many gambling platforms will adopt this approach, because it holds significant appeal for users. And as we know, the number of prediction market users has already grown quite significantly.

As for regulations, i’m confident that rules will be established sooner or later, especially if in the end many users become more interested in using the platform, regulations might even be put in place more quickly.

The combination of prediction exchanges into sport betting portal is the demigod of convenience as a player will not have to switch applications. These two speculative markets together increase liquidity in capital markets and make the transaction ecosystem a lot more dynamic. This tendency of incorporating mix financial products can prove to be the golden rule as far as international digital platform developers are concerned.

The huge amount of money coming in and an increase in active users automatically intensify the role played by the regulators who are trying to work on a tough legal framework. The government agencies need to be strictly monitored to restrict probability of misuse of the now complex integrated transaction system. The viability of such integrated exchanges in the global market will be dependent on certainty of legal formal legitimacy approved by the authorities.

[Harkorede]

Imagine opening one app where you can place a sports bet, play casino games, and also trade on a prediction market using the same account. That is basically what Fanatics Sports & Casino has started doing.

IIRC, I remember someone asking before if there was already a platform like this, and now here it is. The bad news for us is that this is not really a crypto platform, but the good news is that we can already see that this kind of setup is possible.

Prediction markets have become very popular lately, so I would not be surprised if crypto casinos or sportsbooks eventually try to build something similar.

What do you think would be the biggest hurdle for a crypto platform trying to combine a sportsbook and prediction market in one app? I assume regulation would be one of the biggest problems since sportsbooks and prediction markets are regulated differently.

https://www.legalsportsreport.com/275510/new-app-merges-fanatics-sports-betting-casino-and-predictions/

I remember creating the thread to ask for that about 4 months ago, because it was only available on Duelbits that I know of then, here https://bitcointalk.org/index.php?topic=5580107

But since it's been almost common thing in every major casino that's available on the forum now, Rainbet, Duel, Jackpotter and Roobet now have it, just almost any casino you could think of that's on the forum. The down side of having prediction market inside a casino now is that they markets are heavily regulated and stakes are capped, more so you're bound to the regulations and TOS of the casino unlike native predictions markets, where you could have complete anonymity and zero restrictions with stakes.

[adultcrypto]

I don't think this is something new because some casinos started adding prediction market to their platform already and that will mean having sportsbook, prediction market and casino in one place. I recur Duelbits doing that before but I think they have discontinued their prediction market for reasons best known to them. However, I'm patiently waiting to see how this evolves because it will bring in new things in terms of comfort and flexibility to the business.

[TedMosby]

I wonder how the regulator would see this platform because pure gambling platforms and prediction market platforms have different regulations, especially regarding age limits. Pure gambling platforms like casinos and sportsbooks don't accept people under 21, meanwhile on prediction markets, 18+ users are welcomed.

Since it also involves pure gambling, I assume it would use the minimum 21 years old restriction. In this case, how would they compete with prediction market platforms because 18 to 21 years old users are also a significant group in this industry. According to https://www.inc.com/sam-blum/not-all-of-kalshis-biggest-users-can-legally-gamble-they-traded-5-billion-this-year/91398470, the prediction market Kalshi has hosted $5 billion worth of transactions from users between the ages of 18 and 21 this year. A big amount of money, and it's only from one platform.

How would an all in one platform like that compete to get market share from prediction markets then, when the very first potential age group would probably use other platforms due to age restrictions?

[bitbollo]

I have seen a basic "prediction" also in other casinos (just to mention Whale.io and Betpanda but the list is much much longer).
I am not surprised at all, this is a rich industry and there is space for growth.
I would prefer to see an app that could allow to use crypto and bitcoin for p2p betting!
There are still not operators that have been able to copy this market (and it's liquidity) in the crypto industry

[maydna]

Sooner or later the type of the app will be released for crypto and not only fiat. It is just a matter of time to see that available so nothing to worry while we can still use previous app we like.

Regulations I think that will be the problem but perhaps on some casino's app, they have sportsbook and casino games although they are not yet have prediction market in their app. But if they aware this, they will add prediction market on the app so their members will have more experiences using the app.

[ZeroVinsonN]

Regulation is always the biggest hurdle for sites. I don't do the prediction stuff at all (unless you count sportsbetting), but it's obviously pretty popular and the world seems to love it. I am sure over the next year or so, someone will figure out how to get a all in 1 site regulated, just a matter of time.

It was always gambling to begin with, just that it was given a fancy name and made to look like it was different from gambling, I would even say it's worse than gambling.
Their regulations are somewhat similar so getting them in a single site won't be all that difficult although they might have to limit some of the leeway that prediction markets get if they are going to place a casino and a prediction market in the same site else most regions won't accept it.

[EluguHcman]

Imagine opening one app where you can place a sports bet, play casino games, and also trade on a prediction market using the same account. That is basically what Fanatics Sports & Casino has started doing.

This is no more new news. The coalition of sports bets, casinos and prediction market has been a trending technology making it compatible for users who may prefer playing in the both casino and sports bets and so as trades in the prediction market too.

For me I find the modality interesting as anyone betting on both don't need to navigate from one site to the others, but same time, it could be complicating to navigate for new users.

Maybe those who don't like spreading their KYCs will prefer it most since they are operating the different market providers with just one account.

[Renampun]

AFAIK, there are already several platforms that include sportsbook + prediction market + casino games in their platforms.. this might be because the prediction market has grown so much nowadays and these platforms can more easily integrate it through third parties.

Regarding regulations, since they are offshore platforms, they can operate under different regulations, so it's not necessarily stricter.. the biggest challenge is when they go up against the dominance of Polymarket or Kalshi, which makes their user base much smaller.. if I'm not mistaken, there's a casino platform that has already closed its prediction market, I forgot the name.. while for other platforms, it seems they still include prediction features on their platforms.

[freedomgo]

AFAIK, there are already several platforms that include sportsbook + prediction market + casino games in their platforms.. this might be because the prediction market has grown so much nowadays and these platforms can more easily integrate it through third parties.

Could you name some?

Regarding regulations, since they are offshore platforms, they can operate under different regulations, so it's not necessarily stricter.. the biggest challenge is when they go up against the dominance of Polymarket or Kalshi, which makes their user base much smaller.. if I'm not mistaken, there's a casino platform that has already closed its prediction market, I forgot the name.. while for other platforms, it seems they still include prediction features on their platforms.

It’s not as easy as it sounds. Offshore casinos are regulated based on the specific license they hold, so if their license only covers gambling or sportsbook operations and they suddenly start offering prediction markets, they could run into problems with their regulator and even risk losing that license.

That’s why combining a sportsbook and prediction market is not simple, especially when they are regulated under different frameworks or agencies. The operator would need to make sure it is properly licensed for both activities first.

[Ziskinberg]

That’s why combining a sportsbook and prediction market is not simple, especially when they are regulated under different frameworks or agencies. The operator would need to make sure it is properly licensed for both activities first.

Based on what I’ve read, some platforms have already managed to combine these services, but they are not really crypto platforms. So it seems more possible on fiat-based platforms, while crypto operators may have a harder time.

The biggest issue is compliance. Many crypto casinos get licensed under jurisdictions that mainly regulate casino and sportsbook operations, so they cannot simply add prediction markets unless their license or another regulator also allows it. So technically it’s possible, but for most crypto casinos the real challenge is meeting the different regulatory requirements.