Key takeaway: Betfair is regulated, fiat-friendly, and suited for sports bettors. Polymarket is unregulated, blockchain-based, and excels at political and real-world event prediction. For European political markets, Polymarket wins on liquidity and variety.
The prediction market landscape across Europe is shaped by two dominant players: Betfair (the established betting exchange powerhouse) and Polymarket (the decentralised blockchain-backed alternative). What sets them apart?
At a glance
| Feature | Polymarket | Betfair |
| Founded | 2020 | 2000 |
| Regulation | Unregulated (decentralised) | FCA, Malta, Gibraltar licensed |
| Currency | USDC (stablecoin) | GBP, EUR, AUD |
| Market types | Politics, crypto, science, culture | Sports, politics, entertainment |
| Fees | ~2% (spread-based) | 2–5% commission on winnings |
| Deposits | USDC, MoonPay | Card, bank transfer, PayPal |
Where Polymarket wins
- Political markets: Polymarket commands significantly higher trading volumes across US elections, European parliamentary contests, and geopolitical flashpoints than its rival
- Transparency: All settlements occur on-chain and remain publicly auditable; Betfair's adjudication procedures remain less transparent to users
- Market variety: Digital asset valuations, breakthrough AI achievements, breakthroughs in scientific research — categories Betfair simply does not service
- No bookmaker margin: Participant-driven pricing replaces the traditional bookmaker's built-in edge
Where Betfair wins
- Sports markets: Live sports wagering remains Betfair's defining competitive advantage; Polymarket offers minimal coverage of active sporting contests
- Fiat deposits: Betfair requires no familiarity with cryptocurrency infrastructure
- Regulation: FCA authorisation brings statutory protections and mandatory safeguarding mechanisms
- Track record: A quarter-century of continuous operation with established mechanisms for handling disputes
Our verdict
For those focused on political and real-world event prediction markets, Polymarket emerges as the superior choice. PolyGram removes technical barriers to accessing Polymarket's offerings. Start trading on PolyGram →