Almost everyone loves sports, which is why it is no surprise that the industry is worth billions. But did you know it is possible to get a piece of the action simply by forecasting outcomes in Polymarkets sports trading?
Well, it is. This prediction platform lets you trade on the outcomes of sports events in real time by purchasing shares. You can begin with $0.1, making it a good choice if you are on a budget. In this guide, we will break down everything you need to know about this prediction site and how to begin trading.
This Polymarket review will not be complete without listing the highlights and lowlights of Polymarket sports prediction trading:
Polymarket is a prediction market platform that launched in 2020. It was created by Shayne Coplan and has become a go-to option for those looking to trade on real-life events. The platform is similar to other prediction markets, allowing you to forecast the outcomes ofย events by purchasing smart contracts.
Polymarket lists a variety of predictions, each with a percentage likelihood of occurring. This usually ranges from 1% - 99%, depending on how strongly traders believe a specific event will occur. Each contract includes a "Yes" or "No" button you can click to agree or disagree with a prediction.
If you click "Yes," it means you agree with the prediction and are willing to buy shares to support it. The share price is dependent on the percentage attached to a prediction. So, if you purchase shares at an event with an 80% probability, you'll be spending $0.80 per share. If you click "No," you predict the outcome will not occur.
Once the event settles, your share will be $1, which means you get an extra $0.20 per share. However, you get $0 for wrong predictions, which is why you have to be certain before making a choice. One of the best aspects of the Polymarket prediction site is that all shares are priced below $1. This makes it easy to start trading, especially if you are on a budget.
The Polymarket sports market section features event contracts based on sports events. We spotted 20 sports markets, including football, soccer, tennis, basketball, baseball, hockey, and even esports. There'll be more than 50 events to trade at any given time, so there's never a lack of what to trade on.
The options are split between live and futures, which is reasonable. If you opt for live events, you are trading on sports games that are currently ongoing, while futures let you trade on games that will take place at a later date.
Similar to the Polymarket election market, the sports section features various types of contracts. We've outlined some of the most popular ones you can expect to find, using some examples currently on the platform.
| Sport event contract | How it works | Example |
|---|---|---|
| Match winner | The most popular type of sports event contract on the Polymarket platform. Here, you are trading on which team will win the game. This could be on an ongoing or live event. | Which team will win the game?
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| Tournament or league winner | The tournament or league winner is similar to the above. In this case, youโre trading on which team will win a league or tournament. | Which team will win the English Premier League?
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| Player performance | Here, you are purchasing event contracts for players rather than teams. For instance, how many goals a player will score, and so on. | Who will be the top goalscorer in La Liga?
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| Special events | These are contracts that cover special conditions. For instance, the exact score a match will end in, the half-time score, and other similar outcomes. | Levante UD vs Sevilla FC exact score
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These are only a few of the options we spotted. In reality, there is a broader range of event contracts available on the platform, as expected, given that it covers almost all major sports events.
To begin trading on any of the Polymarket sports event contracts, you'll first need to register for an account. You can do this in the Polymarket app or on the website, depending on which you prefer. Both options work excellently and will ensure you get the best experience.
However, before you begin, there are a few things to keep in mind:
If you tick all the boxes and have everything sorted out, you can begin trading following these steps:
Click any of the links on this page to be redirected to the Polymarket prediction site
Click on the 'Sign Up' button and input your email
The operator will send a code to your provided email address, which you must click to verify your account
Next, enter your preferred username and accept the terms and conditions
Hit 'Continue' to round up the process and log in to your account
Fund your account using one of the available payment methods
Head to the Polymarket sports market section and make a prediction
Wait for the event to settle, and if your prediction is correct, your share value will rise to $1 per share. If not, it drops to $0.
Trading on Polymarket sports events contracts can get you a profit, but as with any trading activity, it comes with the same risk of losing your contracts. While there is no strategy that guarantees you will always get the right prediction, the following tips can improve your experience.
Research is non-negotiable if you want to get the best from trading on the Polymarket sports markets. Make sure you know everything about the teams involved by studying recent forms and history. This will give you the insights you need to make better predictions.
The world of sports is fast-paced, and sudden news can quickly change the market's trajectory. Keep your ears and eyes open for updates and react quickly to them. You can exit trades at any time, so do this when possible to lock some of your profit if you are unsure of a trade.
Having a sport or team you love is not a bad thing in the real world. However, when it comes to trading, diversifying your positions is a solid approach. We recommend purchasing shares across various games, sports, and contracts to manage your risk exposure. However, only do this after conducting proper research and understanding what you are getting into.
A prediction can come out wrong regardless of how much research you do. Therefore, it is best to only trade with funds you can afford to lose. We recommend creating a budget and sticking to it, regardless of whether you make a profit or a loss.
In our opinion, yes. However, the final decision lies with you. The benefits are enormous, with up to 20 markets to trade on, including football, basketball, hockey, and other major sports. What's more, shares are priced affordably, so you can purchase a smart contract for less than $1.
But that's not all. Even if you want to take a break from trading on sports, Polymarket still offers extensive coverage on other markets. You'll find contracts on markets across cryptocurrencies, politics, finance, the economy, and more. If this seems like something that you feel like exploring further, click any of our links to register at Polymarket and start making trades.
In most instances, yes. But you'll need to confirm this by reviewing your local legislation. Since each US state has varying regulations, purchasing smart contracts may not be allowed in your state.
Polymarket does not payout money like other platforms. However, you can profit from your shares if your prediction is correct and the value increases. Then, once ready, you can exit the trade and withdraw the profit into your account.
Yes, you can. Polymarket allows you to exit a trade by selling your shares before the end of an event. This is a great way to minimize losses and lock in some of your profit. The best part? There are no Polymarket fees attached to payments.