2) Bookies are centralized entities, polymarket is decentralized
Quite falseYeah, all sports bookies are centralized, but Polymarket is run by a US company, running on a centralized platform, and it has people in charge of results, which might end in situations like this
https://www.mitrade.com/insights/news/live-news/article-3-720742-20250326So no, Polymarket is quasi-decentralized, more in branding than reality!
Thank you for this clarification. I have always wondered why people thought polymarket was a decentralized platform just because it drives away from the traditional casinos we know of. Maybe also because of its involvement in some issues before in France where they blocked the use of this site. One search and you can see that it is a company based on USA. Maybe because it is defined as crypto based betting site hence the assumption that it is decentralized.
- Another major difference, you will not have parlays on a prediction market, so no combining two bets, unlike with a sports bookie.
Good to know for those planning to bet on sports using polymarket.