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

[stadus]

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/

[yahoo62278]

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/

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.

[Free Market Capitalist]

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.

Well, I think that's the future—just as, at first, there were only online casinos, and then they added sports betting, for example. Or there were also, in the early days, casinos that were just for poker, which later started offering casino games and then sports betting. In other words, the trend will be toward being able to bet on everything, to the fullest extent, from a single site.

As for regulation, I think prediction markets will eventually be classified as gambling, which is what they actually are.

[stadus]

As for regulation, I think prediction markets will eventually be classified as gambling, which is what they actually are.

Not everything, I guess. The best candidate to eventually be classified as gambling would be sports prediction markets, because they are already very close to traditional sports betting.

But for politics, economics, weather, and similar events, I think they will probably remain under a different type of regulation.

So there may still be separate rules, but hopefully things become clearer and easier in the future. The more legitimate platforms we have, the better the competition, and that should also be better for gamblers.

[Ashawowo(OS)]

...

I'm not surprised actually, I've been anticipating it. They've taken the first step, we can only expect other gambling platforms to follow suit

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.

This is possible, but it might take a longer time, especially as they are regulated differently. It has more chance of success in the US, I believe prediction markets popularity climaxes there for now.
We all know prediction markets is more of gambling, maybe they will get recognized as gambling and be regulated accordingly, then we can see this.

[Charles-Tim]

Regulations is one of the reasons most gambling sites today do not have prediction markets. With time, there will be sites that will have everything.

Duelbits have the three before, but I do not know if the gambling site still have the prediction market.

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.

If you are referring to prediction markets, they do not have casino. Only what I have seen on prediction market that is mostly related to gambling sites are the sportbooks.

[Ziskinberg]

We all know prediction markets is more of gambling, maybe they will get recognized as gambling and be regulated accordingly, then we can see this.

If regulators considered it gambling, they would probably regulate it the same way as gambling. The problem is that we assume it is gambling simply because we are putting money on an outcome, but legally it is treated differently, so for now it will probably remain under its current regulation.

Prediction markets can also be more complicated because of insider information and possible manipulation, which can be difficult to detect.

If a crypto casino or sportsbook eventually offers sportsbook, casino and prediction markets all in one platform, then I would assume they already met the different regulatory requirements.

Maybe Stake could be one of the first crypto platforms to try something like this. If a big platform can make it work, others will probably follow.

[danherbias07]

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.

[Dr.Bitcoin_Strange]

What's I would be interested on is what the regulations are going to say about this, because some jurisdiction already classified prediction market as part of trading and not anything related to gambling, while some states called it gambling and wants to regulate it as gambling. I agree with the opinion that prediction market is still gambling too. Now, if prediction market is combined with sports book and casino in one website or app, it automatically means that gambling regulations applies to the prediction market as a gambling platform and not trading platform.

[$crypto$]

1win casino if not wrong already has a Sportsbook and prediction market, other casinos are also the same betby providers have a prediction market just not as complete as Polymarket.

It's just a matter of regulation we never know, is there already a provider that does this or will a separate casino do it?

And I guess that's something good Sportsbook + prediction market 1 platform.

[Maslate]

What's I would be interested on is what the regulations are going to say about this, because some jurisdiction already classified prediction market as part of trading and not anything related to gambling, while some states called it gambling and wants to regulate it as gambling. I agree with the opinion that prediction market is still gambling too. Now, if prediction market is combined with sports book and casino in one website or app, it automatically means that gambling regulations applies to the prediction market as a gambling platform and not trading platform.

This is actually a problem. I think prediction markets should have a more consistent regulatory framework so business operators will not have a hard time understanding and complying with different rules.

Prediction markets are already popular. Although there was a report last month that their volume declined significantly and some people think they are just hype, I’m not looking at the short term. I think they can bounce back because the overall figures already show there is real demand.

What they really need is proper and clearer regulation. Once that happens, investors will have more confidence and the industry could grow even further.

[Oshosondy]

This is actually a problem. I think prediction markets should have a more consistent regulatory framework so business operators will not have a hard time understanding and complying with different rules.

It is not as easy as you say.

In the United States, prediction markets are regulated by CFTC that regulated commodities. You will see regulators saying they are the one that supposed to regulate a particular field while another regulator saying the same thing.

In some countries, prediction markets are pure gambling and they are seen as gambling. SEC of such countries or CFTC in such country have nothing to regulate about that.

The prediction market framework is very clear and it lies between gambling and trading which is the issue, but it is very clear.

[Elainebue]

Fanatics combining all three is probably a sign that prediction markets aren't just some niche thing anymore

[Bryan jessy]

No severe hurdles at all because before they announce it publicly like this they must have considered the effects, and are fully ready to take the initiative. Both are gambling so it will really not be that difficult for the to handle once though combining both is really like a big deal but not for them I guess, I am sure they have already planned and set them just as it should be, trust me aside making it easier for players they are also going to benefit from it too imagine having this two games on one, more profit to them easy access to players without so much stress making multiple app and different accounts, or from one local to another for game because they can possibly access both games right there.

[Pandu Geddon]

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.

[MAAManda]

1win casino if not wrong already has a Sportsbook and prediction market, other casinos are also the same betby providers have a prediction market just not as complete as Polymarket.

Yes, 1win already has a prediction market, besides 1win, I also see that Rainbet has it too, but it isn't as good as 1win. I believe that in the future, we'll see everything consolidated into a single crypto casino platform, spanning slots, sportsbooks & prediction markets.

Other crypto casino platforms that already feature prediction markets: Roobet & BC.game.

[noorman0]

-snip-
It has more chance of success in the US,

In the US alone, the legal status of sports prediction contracts remains a subject of debate between federal authorities and state gambling regulators.

It makes sense for a brand to separate the management of prediction markets from that of casinos, as each sector faces distinct issues and potential conflicts such as allegations of insider trading and manipulation in prediction markets, whereas the sportbook sector may be running smoothly; such issues do not necessarily damage the brand as a whole.

[Aanuoluwatofunmi]

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.

I don't know if some reputed gambling casino's will take this similar parts in what they provide in gambling services, because of all these I will only have to go against including the prediction market on a casino gambling platform, we have seen how the government have been attacking the existence of a prediction market on different platforms and this will also bring to the summary and conclusion of gambling being under the cover of a prediction market, while government may take more strict measures against gambling entirely.

[Cointxz]

IIRC Duelbits introduced prediction market called “duelbits predict”. I don’t use it personally since I don’t like this type of bet but I saw some influencers trying to promote it before.

However, I can’t access it right now so I believe there’s a geo restriction  set for this product separate to the sportsbook and casino games.

I believe this will be the goal of every casino just like the regular casino before that started on offering only house games and slots until they start adding sportsbook.

[iv4n]

1win casino if not wrong already has a Sportsbook and prediction market, other casinos are also the same betby providers have a prediction market just not as complete as Polymarket.

Yes, 1win already has a prediction market, besides 1win, I also see that Rainbet has it too, but it isn't as good as 1win. I believe that in the future, we'll see everything consolidated into a single crypto casino platform, spanning slots, sportsbooks & prediction markets.

Other crypto casino platforms that already feature prediction markets: Roobet & BC.game.

I think I saw it in some other casinos as well. It's not something important to me, since I don't use prediction markets... I guess the point is that the future is already here, and some casinos already offer all three. And that's like a normal turn of events, make it easy to access, offer everything that attracts players... You either stay competitive & have all on the site, or others will take advantage.

Fanatics combining all three is probably a sign that prediction markets aren't just some niche thing anymore

I guess they stopped being "some niche thing" a long time ago... But this is definitely some confirmation that prediction markets are here to stay.