Polymarket Promo Code and Sports: A Guide to Crypto Prediction Markets
Polymarket Promo Code - 'The World's Largest Prediction Market'
Polymarket is not legal in the U.S., but you can use our Kalshi referral code and have peace of mind using a CFTC-regulated platform for financial prediction markets!
Polymarket is a decentralized prediction market platform that allows users to bet on the outcomes of real-world events using cryptocurrency. Polymarket is heavily invested in different elections, making it a go-to for those interested in politics. It leverages blockchain technology to provide transparent and open markets where participants can buy and sell shares in various event outcomes, effectively crowdsourcing predictions and aggregating public sentiment.
It's hard for Polymarket not to catch your eye with a proclamation that they're "the world's largest prediction market," but the substance of this platform is more than enough to back up the bold introduction. While it's been around for the past five years (as have many traditional online sportsbooks), Polymarket has gained popularity over the past year, and for good reason.
You can currently sign up and get rewards with Polymarket, meaning you can get even more value out of this exciting cryptocurrency-based projection site. What exactly does that mean? We'll get into that and more in the following sections, and by the time it's over, you'll be armed with the knowledge you need to play the odds and find value.
What Is Polymarket?
Polymarket presents users with a unique and broad prediction market, allowing them to potentially win money by investing in shares for correct outcomes.
Because of this format, it is a user-to-user platform, meaning that you're not playing "against the house." You can't be capped or banned for winning too much, providing players with essentially limitless opportunities.
As unique as the platform is, it's widely considered to be quite intuitive for new users. This is especially the case for those who are familiar with using cryptocurrency, a central facet of the platform's conceptualization.
How to Use Polymarket
While Polymarket isn't the same as online sportsbooks with which potential users might be familiar, the sign-up process isn't all that different. Let's talk about the key steps of getting started with this platform.
Sign Up
Signing up is a fairly intuitive process once you've navigated to the Polymarket site. Simply hit the button at the top of the page, enter your email address, and open the activation email you receive. Once you choose your username and agree to the terms, you're ready to go.
Deposit Funds
Naturally, you can't make investments if you don't have any funds in your account. You'll need to choose and set up a crypto wallet of your choice or simply use a Visa or MasterCard to purchase USDC, the dollar-backed coin used by the site.
Make Predictions
Finally, with funds in your account, it's time to find the market you'd like to project and make some predictions. Let's talk about the mechanics of how that works.
Essentially, the prices of all potential outcomes add up to approximately a dollar. The price displayed for any outcome is the amount needed to wager for the total return to total exactly a dollar.
For instance, if the Kansas City Chiefs have a line of 63 cents to win a game against the Los Angeles Chargers, you'd need to wager those 63 cents in order to receive a dollar in the event of a win, a return of those 63 cents plus 37 cents of profit.
Naturally, longer odds will provide bigger profits. Going back to the same example, you could put a bet on the Chargers at 38 cents, and you'd receive the same dollar of combined stake and profit if you win.
Multi-sided markets, such as championships and awards, provide the opportunity to play even longer odds, although things do become complicated when the "yes" result can hit for several sides at the same time. This is the case with things like relegation and Champions League qualification in the Premier League.
Polymarket Promo Code: What You Need to Know
Polymarket does currently offer promo codes and bonuses for new and existing users to join in. However, if you sign up, you can get some rewards. As the platform grows, more enticing offers may be introduced in a similar manner as traditional sportsbooks.
Read More: Action Network's Best Sportsbooks
Polymarket Sports: Getting Into the Market for Sports Predictions
Just as with any other question that can be asked, Polymarket's pricing formula can be applied to predicting outcomes of sporting events. The "vig" is very modest compared to many online sportsbooks, as the prices of the two outcomes for any one game generally add up to just $1.01.
For multi-sided lines like team championship futures, the math is a bit more complicated, but the pricing is still very competitive. Let's talk about some of the markets currently available in the sports field.
There are very straightforward propositions available, such as games and championships. You can also bet on things like player awards and top scorer outcomes, even by the position for fantasy football.
The main leagues for which you can find these lines are the NFL, NBA, MLB, English Premier League, European Champions League, certain college sports, and much more, including individual competitions like Formula 1 and UFC.
How Does Polymarket Sports Differ From Traditional Sports Betting?
The first thing that jumps out about Polymarket's platform as compared to traditional sportsbooks is the format itself. Odds being presented as a fractional share of a dollar is very different from the standard system used by most sites.
Of course, this points to a more substantive difference: the way odds are created. They're a direct product of the share of money on each side of an outcome, providing a unique level of transparency compared to traditional competitors.
This also means that you don't have to deal with the "vig" or "house edge" the way you do when playing with the books. In fact, Polymarket doesn't charge deposit fees or trading fees of any kind.
Another interesting byproduct of the pricing format is the ability to sell your shares at the current market price. This allows you to get out of a bad bet without losing everything or to cash in on a good value find before the market crashes.
Security and Reliability of Polymarket
Polymarket is a non-custodial platform, meaning they never actually take possession of your funds; they just facilitate trades using them.
As long as you keep your private key exactly that, private, your money is safe when using this platform. Additionally, users have very seldom reported any sort of issues with deposits or payouts, so you can rest assured that when you win, your funds will be there for you.
Fees and Costs on Polymarket
You won't see any deposit or trading fees coming from Polymarket itself, other than the 1% "vig" built into the markets. There may be charges to create a market or transaction costs incurred when dealing with cryptocurrency intermediaries.
Responsible Usage and Ethical Considerations
As is the case with any form of online betting, always make sure to invest only what you can afford to lose entirely. When you stop having fun with Polymarket, simply step away rather than chasing your losses.
It's also important to educate yourself about the usage of cryptocurrency in general before getting started with it. While the payment methods that are compatible with Polymarket are safe ones, it's always best to be informed about where you're putting your money.
Read More: Where Is Online Sports Betting Legal?
Read More: Sports Betting Odds
Polymarket is a cryptocurrency-based prediction market, allowing users to invest in various potential outcomes of future events using odds-based pricing. From current events to political elections and, yes, even sports, there are seemingly endless options available on the site.
There are not yet promo codes available for Polymarket, but there are rewards for users who sign up. Hopefully promo codes are coming in the future!
Yes, there are sports predictions available on Polymarket.
As a non-custodial platform, Polymarket never possesses your cryptocurrency, so you can feel very safe and secure when playing with the platform.
Polymarket does not charge any sort of deposit, withdrawal, or trading fees.