prediction betting platform pros and cons? - page 5.

Reatim

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Quote from: jademaxsuy on December 19, 2020, 06:26:50 AM

Good day!

My list of cons and pros of prediction betting in a platform

Pros,
1. No house edge instead service fee

Just a Curious question mate, Why does a Pros Platform Need to be zero House edge?
I believe that almost each gambling site and platform has House Edge yet they re super legit and trustworthy.

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2. Winnings does not come from the platform but from the bettors itself. Winnings will be coming from pools of bet from the opposing side minus the service ree from the platform.

This is a Good Point Because it will be like a Monet pot that Winner will take the amount without third party .

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3. Interested betting prediction are present like predicting bitcoin market price ALL TIME HIGH.

This can be in Cons ,Offering this are open to any platform so I think this is not that Big factor.

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Quote from: Rengga Jati on December 26, 2020, 04:46:59 PM

I am searching on google about the prediction betting platform. And wow, I found so many sites offering that prediction for betting or gambling. Moreover, many have listed the top prediction sites with many proofs.
But what I thought: 'is it the same with the prediction on trading?
On trading, we can surely know the technical analysis. But in betting, we do not know the analysis based on the habit or current condition.

Prediction in trading is a bit different from prediction in gambling. Prediction in trading is based on charts or fundamentals but prediction in gambling could be based on a lot of factors. It depends on which specific event you are predicting. Prediction sites such as Futuur offer so many events ranging from sports to politics to science to finance and more on which you can gamble with your Bitcoin.

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Cons:
If the betting is a real sport, how can they predict it?

As far as Futuur is concerned, you just predict which team or player will win, or in sports where there is a draw such as football, you could also choose a draw. It's almost as easy as true or false. That's nice gambling in its own respect.

Lanatsa

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Quote from: abel1337 on December 25, 2020, 01:31:40 PM

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Quote from: plvbob0070 on December 25, 2020, 08:22:18 AM

We should always consider the site first before betting because we will be giving our funds there. And you're right that we should avoid prediction betting platform that we lack trust in or we are not that sure since it's better to ensure the safety of our funds when we bet on longer betting events like the presidential election.

I also feel the same that sports betting is much more fun and exciting than predictions. Only big events get a lot of interest when it comes to prediction betting.

The only thing that I could see to this is, do not play when you are not used to it, do not play so easily or bet so easily in a new platform if they are new to you, it will be a new flavor to tast but it can be bitter if you are not used to it, we should learn to look for their website and other files first before we start to bet. I am not into sport betting maybe in e-sports yes, but I'll try it soon.

This is a must if you want to have peace of mind with your bets in terms of security. Betting on new casinos isn't that bad because established casinos also started being new to the gamblers. A new type of bettings is introduced like presidential elections by new betting sites to attract bettors in their business. Background checking on a new betting site is a must especially if you will bet a huge amount.

Everything start on being new and its right that it isn't bad to make use nor make bets on new sites as long you do saw that it fits the criteria on being a legitimate site.

You can see those in terms of design and user interface plus having a good service.There are various bets that been offered which isn't usually can be seen on this market.

and now they are now offering something that do correlates with future bets.Its up to someone if they can afford on letting their money or bets sit down to the site for a long time
since the outcome is still on indefinite manner.So its up to someones choice neither they would play or not, they haven't been forced to play though.

Rengga Jati

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I am searching on google about the prediction betting platform. And wow, I found so many sites offering that prediction for betting or gambling. Moreover, many have listed the top prediction sites with many proofs.
But what I thought: 'is it the same with the prediction on trading?
On trading, we can surely know the technical analysis. But in betting, we do not know the analysis based on the habit or current condition.

Pros:
Proofs of being successful gambling prediction with many wins to have

Cons:
If the betting is a real sport, how can they predict it?
Is there any relation with the probabilities of the gambling behind the game, who have higher fees can control the game and make the players do what they want?

maydna

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Quote from: maydna on December 24, 2020, 07:44:34 PM

~snip~

Of course such kind of prediction games are highly unpredictable so the difficulty level is going to be maximum that what you can feel while making your analysis but it also maybe a simpler game since we have to pick either this or that so only we had given two choices.

When we are hard to predict the games and use random selection for the team, sometimes we can have the luck that comes to us and give us the win. We may not be thinking or predicting that we can win, but luck helps us, which will surprise us because that is out of our expectation. There is time for us to get that experience, and make us can't decide which team has a high percentage to win, so we choose a random team without thinking too much.

Quote from: abel1337 on December 25, 2020, 01:31:40 PM

This is a must if you want to have peace of mind with your bets in terms of security. Betting on new casinos isn't that bad because established casinos also started being new to the gamblers. A new type of bettings is introduced like presidential elections by new betting sites to attract bettors in their business. Background checking on a new betting site is a must especially if you will bet a huge amount.

That is not bad, but we need to be careful because they don't have a reputation before, making us selective to play on the new casino. Perhaps, that will be related to the money that we will use to bet, and we should not use too much money to prevent the bad things that can happen. The casino will try to prove to the gamblers if they are worth choosing as their place to gamble.

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Quote from: plvbob0070 on December 25, 2020, 08:22:18 AM

We should always consider the site first before betting because we will be giving our funds there. And you're right that we should avoid prediction betting platform that we lack trust in or we are not that sure since it's better to ensure the safety of our funds when we bet on longer betting events like the presidential election.

I also feel the same that sports betting is much more fun and exciting than predictions. Only big events get a lot of interest when it comes to prediction betting.

The only thing that I could see to this is, do not play when you are not used to it, do not play so easily or bet so easily in a new platform if they are new to you, it will be a new flavor to tast but it can be bitter if you are not used to it, we should learn to look for their website and other files first before we start to bet. I am not into sport betting maybe in e-sports yes, but I'll try it soon.

This is a must if you want to have peace of mind with your bets in terms of security. Betting on new casinos isn't that bad because established casinos also started being new to the gamblers. A new type of bettings is introduced like presidential elections by new betting sites to attract bettors in their business. Background checking on a new betting site is a must especially if you will bet a huge amount.

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Quote from: Fundamentals Of on December 25, 2020, 09:02:10 AM

For example, in the case of Biden vs. Trump. It was already a commonly acceptable truth that Biden won. That was clear enough as the morning sky. Trump may not concede. Trump may choose to contest the result itself in court. We do not know what happens to the protest after a few years. But for as long as Biden is officially declared as the winner and has even taken his oath of office, that is enough for those who bet on Biden to receive the payouts.

It should be. No reason for those sites that still tagged the bet as pending to not settled the bet.

Either they are waiting for Biden to assume office or oath, pending bets should be settled now as it's clear now who's the winner.

The changes, if ever, that will be made in the future due to some filed cases should be out of the discussion.

Lucasgabd

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There's no need to be upset

@bitbunnny some of the websites consider herd predictions more accurate than individual predictions, which is quite interesting assumption.

check futuur teaser, it has an explanation on it:
https://www.youtube.com/watch?v=qKaozE7ZS78

its an interesting thing to consider, the sum of all parts would be more exact than each individual.

we must always be alert when depositing funds to a third-part but some can be trusted, and you don't need to deposit all funds.

though I'd like to see more prediction markets that are descentralized, is augur fully operating already?

one obvious disavantage as asked on OP is that you may lose all your money if the bet goes to the wrong side, so calculating risk is a must.

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Quote from: plvbob0070 on December 25, 2020, 08:22:18 AM

Quote from: Kelvinid on December 24, 2020, 06:24:49 PM

Quote from: plvbob0070 on December 24, 2020, 10:42:50 AM

Quote from: FinneysTrueVision on December 23, 2020, 08:25:17 PM

One con that we saw recently was that the outcome of the election was not conclusive at first and then Trump tried to make it even more confusing by claiming he was going to win in court. Prediction markets held off on paying for several weeks to make sure there was a definitive answer. Having your funds locked up for longer than anticipated would make anybody nervous. This is always a risk when there is a close election or the outcome of an event is ambigous.

Well, I don't consider this as a con of the platform because I think it's more appropriate to say that that's the nature of what you bet on. Betting on election takes a little longer compared to sports betting since it's a more serious matter so it's kinda understandable why sites tend to lock up your funds for a longer time. So if it makes you more nervous, you can avoid betting on this kind of stuff or ensure the legitimacy of the site.

Thus, if we feel not confident of the site, we better stay away from them.
We understand the nature of gambling, we risk, we lose, or we win. And the reason why I preferred sportsbetting is that we don't need to wait long and see the result, unlike this election predictions. I feel bored waiting, to be honest not matter if the site is legit.

And as I observe, more gamblers will come in sportsbetting than predictions. It possible that because predictions create only less interest than sports and more gamblers are fun into sports which is very easy for them to pick.

We should always consider the site first before betting because we will be giving our funds there. And you're right that we should avoid prediction betting platform that we lack trust in or we are not that sure since it's better to ensure the safety of our funds when we bet on longer betting events like the presidential election.

I also feel the same that sports betting is much more fun and exciting than predictions. Only big events get a lot of interest when it comes to prediction betting.

We always need to keep in mind that people want to make money. And these are not only us, gamblers, but also the people who give their services like those in prediction betting platforms.
So, yes, caution and background check are necessary unless you want to get scammed at the end. I never use such sites and I don't actually believe in someone's power to make quality predictions.

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Quote from: FinneysTrueVision on December 23, 2020, 08:25:17 PM

One con that we saw recently was that the outcome of the election was not conclusive at first and then Trump tried to make it even more confusing by claiming he was going to win in court. Prediction markets held off on paying for several weeks to make sure there was a definitive answer. Having your funds locked up for longer than anticipated would make anybody nervous. This is always a risk when there is a close election or the outcome of an event is ambigous.

The outcome may look confusing but it may not necessarily be in real life. For example, in the case of Biden vs. Trump. It was already a commonly acceptable truth that Biden won. That was clear enough as the morning sky. Trump may not concede. Trump may choose to contest the result itself in court. We do not know what happens to the protest after a few years. But for as long as Biden is officially declared as the winner and has even taken his oath of office, that is enough for those who bet on Biden to receive the payouts.

plvbob0070

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Quote from: Kelvinid on December 24, 2020, 06:24:49 PM

Quote from: plvbob0070 on December 24, 2020, 10:42:50 AM

Quote from: FinneysTrueVision on December 23, 2020, 08:25:17 PM

One con that we saw recently was that the outcome of the election was not conclusive at first and then Trump tried to make it even more confusing by claiming he was going to win in court. Prediction markets held off on paying for several weeks to make sure there was a definitive answer. Having your funds locked up for longer than anticipated would make anybody nervous. This is always a risk when there is a close election or the outcome of an event is ambigous.

Well, I don't consider this as a con of the platform because I think it's more appropriate to say that that's the nature of what you bet on. Betting on election takes a little longer compared to sports betting since it's a more serious matter so it's kinda understandable why sites tend to lock up your funds for a longer time. So if it makes you more nervous, you can avoid betting on this kind of stuff or ensure the legitimacy of the site.

Thus, if we feel not confident of the site, we better stay away from them.
We understand the nature of gambling, we risk, we lose, or we win. And the reason why I preferred sportsbetting is that we don't need to wait long and see the result, unlike this election predictions. I feel bored waiting, to be honest not matter if the site is legit.

And as I observe, more gamblers will come in sportsbetting than predictions. It possible that because predictions create only less interest than sports and more gamblers are fun into sports which is very easy for them to pick.

We should always consider the site first before betting because we will be giving our funds there. And you're right that we should avoid prediction betting platform that we lack trust in or we are not that sure since it's better to ensure the safety of our funds when we bet on longer betting events like the presidential election.

I also feel the same that sports betting is much more fun and exciting than predictions. Only big events get a lot of interest when it comes to prediction betting.

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Quote from: Vaculin on December 25, 2020, 04:18:19 AM

Quote from: Debonaire217 on December 25, 2020, 01:41:15 AM

Predicting on what will happen in 2021 must have been hard tho.

That's why prediction game is very exciting, we don't know the future but at least we have some idea on what will happen based on the current or previous events. Actually, the crypto market is very uncertain, so as the price remain as high volatile, prediction game is very much fun to play.

This belongs to the pros of the prediction betting platforms. Excitement is one of the most gamblers like, this will give them a thrill while they are betting and next it will proceed toa the opportunity to win money is a part of cons.

But this isn't mean people can give prediction will always have a 100% accurate result, that is not. I guess this will only increase your chances of winning but don't have an assurance of winning.

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Quote from: Debonaire217 on December 25, 2020, 01:41:15 AM

Predicting on what will happen in 2021 must have been hard tho.

That's why prediction game is very exciting, we don't know the future but at least we have some idea on what will happen based on the current or previous events. Actually, the crypto market is very uncertain, so as the price remain as high volatile, prediction game is very much fun to play.

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Quote from: MCobian on December 24, 2020, 06:59:20 PM

Not everyone likes prediction betting because they have to be patient waiting until the event ends, So I am sure that people who
have no patience will avoid prediction betting platforms......

No betting platforms that's offering instant bet and win(though with some few exception), there must be an interval before the bets be place on win or loss category, so, literally all bets need patience while the results be awaiting by participants. Candidly, most of my gambling bets particularly in sport-betting do take sometimes months before the last game be decide, anything that gat to do with betting sincerely need patience for final decision.

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It would have been easy for me if I joined that prediction game. Well, in order to win on that kind of game you should be familiar with what is happening in that country. For that, in America of course. And what are the situation and credibility of the candidates which are Trump and Biden. Prediction would be easy when there's a subject that really shows what would happen. Predicting on what will happen in 2021 must have been hard tho.

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Balming anyone as well is not going to change anything so its really worthless to do, if you are trying prediction games for the first time it may be exciting or boring depends on what kind of gambler you are naturally so trying few times is okay but if you don't really get the taste in such kind of long format gambling then just go with the old, traditional and instant gambling experience like the casino.

Or we will feel that it is too difficult to select the right team as in the first time, we will lack information to know which team will have a big chance to win. The next betting can make us search for more information because our curiosity becomes bigger and we really interesting in the game. If we can enjoy betting, we will stay at the betting and try to bet on the other sports. But if we don't enjoy the time, we will feel boring, and nothing will be exciting, and in the end, we will leave the betting and back to what we like.

MCobian

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Not everyone likes prediction betting because they have to be patient waiting until the event ends, So I am sure that people who
have no patience will avoid prediction betting platforms. I myself only like sports betting which made me interested in prediction
betting, because none of the other events offered by prediction betting platforms made me interested. So from that now I am more
interested in playing gambling games which are already popular.

TimeTeller

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Quote from: magneto on December 24, 2020, 06:43:02 PM

The main issue with any betting exchange is that it can lack liquidity.

It's a bit like P2P/OTC conversion vs using an exchange to convert your altcoins. Clearly, the exchange will likely give you better rates since it is reflective of the spot market. But the concern here is that it may not have the liquidity to fulfill that big of an order.

The same thing applies to betting exchanges/prediction platforms. If there isn't sufficient user interest in backing a certain outcome, then the market can dry up. Even though last matched odds are public, there is no real way for individual bettors to take on extra positions. This is probably not a huge concern with presidential races since it is such a big event, but when it comes to smaller markets it certainly matters.

That is why a lot of p2p betting platforms can't manage to keep their business.
When the interest of players wane, and just move on to the next, it is hard for the site to remain in the business.
Aside from the fact that betting will really take time to know the results, where most gamblers are not really keen on waiting.
There are pros and cons, but in the long run, you need to weigh if such business can really maintain your operations for long-term.

magneto

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The main issue with any betting exchange is that it can lack liquidity.

It's a bit like P2P/OTC conversion vs using an exchange to convert your altcoins. Clearly, the exchange will likely give you better rates since it is reflective of the spot market. But the concern here is that it may not have the liquidity to fulfill that big of an order.

The same thing applies to betting exchanges/prediction platforms. If there isn't sufficient user interest in backing a certain outcome, then the market can dry up. Even though last matched odds are public, there is no real way for individual bettors to take on extra positions. This is probably not a huge concern with presidential races since it is such a big event, but when it comes to smaller markets it certainly matters.

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Quote from: plvbob0070 on December 24, 2020, 10:42:50 AM

Quote from: FinneysTrueVision on December 23, 2020, 08:25:17 PM

One con that we saw recently was that the outcome of the election was not conclusive at first and then Trump tried to make it even more confusing by claiming he was going to win in court. Prediction markets held off on paying for several weeks to make sure there was a definitive answer. Having your funds locked up for longer than anticipated would make anybody nervous. This is always a risk when there is a close election or the outcome of an event is ambigous.

Well, I don't consider this as a con of the platform because I think it's more appropriate to say that that's the nature of what you bet on. Betting on election takes a little longer compared to sports betting since it's a more serious matter so it's kinda understandable why sites tend to lock up your funds for a longer time. So if it makes you more nervous, you can avoid betting on this kind of stuff or ensure the legitimacy of the site.

Thus, if we feel not confident of the site, we better stay away from them.
We understand the nature of gambling, we risk, we lose, or we win. And the reason why I preferred sportsbetting is that we don't need to wait long and see the result, unlike this election predictions. I feel bored waiting, to be honest not matter if the site is legit.

And as I observe, more gamblers will come in sportsbetting than predictions. It possible that because predictions create only less interest than sports and more gamblers are fun into sports which is very easy for them to pick.

Topic: prediction betting platform pros and cons? - page 5. (Read 1717 times)