Betting Markets Explained Different Types of Betting Markets
Basic odds set by the sportsbook are point spreads, moneylines and totals. It is important to note that these prices are constantly in flux, much like the stock market. We will also dive into how prediction markets differ from sports betting and how to use sites like Kalshi and Robinhood. Discover the key differences between prediction markets and sports betting and learn how to get the most out of sites like Kalshi and Robinhood. James Bisson • Head of Content, Betting 16+ years betting experience
King was the CEO at FanDuel when that company joined the rush of companies entering the legal sports betting market. Because of this difference in definition and regulation, companies in the financial industry are also getting involved, like Robinhood, which started as a disruptor in stock investing. That may not be a tacit admission that prediction markets are betting, but at the very least, it’s a signal that the audiences share a lot of crossover. “We’ve been in this movie before, where there is an asset class that is moving faster than regulation,” Asaf Meir, founder and CEO of financial surveillance company Solidus Labs, told The Athletic. They are regulated as financial exchanges under the CFTC, which has federal jurisdiction, thus allowing prediction markets to operate in all 50 states. Sports are an essential part of these companies’ businesses because so much of the money comes from contracts that strongly resemble sports betting.
Mississippi regulators and lawmakers have flirted with authorizing online sports betting repeatedly, most recently in January 2026, but it remains a casino-only state. I’ve been tracking the regulated U.S. sports betting market since New Jersey took the first post-PASPA wager in June 2018. “I think it’s an extension of the road that we’ve navigated with regulators for the last seven years,” King said. In an effort to appease the states that hold their gaming licenses, they best online sportsbook are not offering sports markets (or, in some cases, any markets at all) in states that have legal sports betting. We accept our responsibility in pursuing litigation where that confusion exists because it’s critically important that overzealous state gaming boards not stand in the way of competition and innovation.”
Entrepreneurs like the founders of Kalshi and Polymarket recognized that any event, including sports, could be bought and sold in the same way and regulated by the CFTC. Unlike state-regulated sports-betting services, prediction markets are regulated by the Commodity Futures Trading Commission (CFTC), a federal agency that oversees futures contracts. The companies make money via commissions and transaction fees, which means they are motivated to see a bigger volume of trades, but do not have a vested interest in the outcome of an event. While the user won’t notice any major differences from sports betting on the front end, this means the marketplace itself (i.e., companies like Kalshi or Polymarket) is not on the other side of the contract.
“I think it’s an extension of the road that we’ve navigated with regulators for the last seven years,” Matt King, CEO of Fanatics Betting & Gaming, said. But for sportsbooks, getting into prediction markets means trying to carefully navigate their relationships with state regulators. People in states without legal sports betting can and have turned to prediction markets in growing numbers. For consumers, you would be forgiven for noting that the essential user experience of prediction market platforms, with respect to sports contracts, bears a very strong resemblance to the sports gambling apps you are familiar with.
Bettors have many betting markets available with football, including moneylines, point spreads, totals (over/under), and player prop bets. A diverse selection of betting markets enhances the overall betting experience, allowing you to explore different wagering options and tailor your bets to your preferences. When selecting the perfect sports betting site, the availability and convenience of banking options play a pivotal role in ensuring a seamless and enjoyable betting experience. BetRivers isn’t having a bad week, but that’s the problem, it just isn’t delivering enough right now to hold up with the industry’s biggest operators. FanDuel came out the hottest out of the gate, offering Bet Protect+ for free for the first three weeks of the season.
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For operators, success is not about offering as many markets as possible, but about offering the right ones. However, it also requires strong infrastructure, including low-latency data feeds, fast odds calculation, and precise risk management. These betting markets offer strong margin potential and add depth to the overall offering. It works a lot like a financial market where prices move with supply and demand.
Although it’s currently only available in 18 states, bet365’s superb online product earns it a high spot on our list. It has since grown internationally and now services customers as a premier global betting brand. Let’s not underestimate daily promotions and odds boosts for major and niche sports, excellent in-play prop markets, and more. There is also a top-tier loyalty experience through its MGM Rewards program, and its lines can sometimes lag behind market movement, creating favorable prices.