What are Prediction Games?
As its name suggests, prediction games require players to guess the outcome of specific future events. These games are in stark contrast to the typical quiz games where people’s knowledge of past events is tested. In prediction games, players earn points based on their correct predictions of the outcome of an event, and they can earn cash prizes based on how many points they have scored. Prediction games have risen to prominence recently, and their popularity is growing at an impressive rate.
How do Prediction Games Work?
Typically, the most common way is to play prediction games online, and anyone can sign up and start playing. These games are freely accessible to everyone, have simple rules, and players can earn real money if they win. Prediction games offer questions on various topics ranging from sports to entertainment, current affairs to the global economy. While these games may seem remarkably similar to games involving betting or speculative games (such as prediction market games), prediction games do not require expert knowledge on highly specialized topics. Additionally, prediction market games are significantly more complicated to play and may not even pay real cash to winners. As mentioned, prediction games cover many topics, and thousands of questions are available.
How can One get Started Playing Prediction Games?
First and foremost, players must download a mobile application that offers prediction games. Once it has been downloaded and installed, players will need to register themselves to get started. When players click on a game title, they will be presented with questions related to various real-world events. The expiry time for each question will also be visible alongside. Questions can be resolved as quickly as 5 minutes or may take up to 24 hours. Players can choose to answer any question of their choice depending on their knowledge and expertise level on the topic the question is related to.
What Questions do Players Have to Answer?
Typically, two types of questions are available in prediction games: ‘ Trading’ or ‘Polls.’
Trading questions are the most basic type of question, and players must choose between two options to predict the most accurate outcome of a particular future event.
Poll questions are questions in which players have to choose from more than one option. These questions are more challenging as the number of potential outcomes increases.
In ‘trades’ questions, once a player has chosen between the two options provided, they will be able to choose their price and quantity for the trades, which will be matched against other players who selected the opposite opinion. Upon resolution of the question, the winner will be awarded the total amount that both players invested in the question.
Players can cancel their unmatched trades or quit from their matched price anytime before the question is resolved. In doing so, they will receive a full refund of the amount they invested, typically paid instantly.
In ‘poll’ questions, once a player has made a selection from the answer choices available, they will be able to see what percentage of other participants who answered the question voted on each answer choice. In addition, the option to select the amount of money a player wishes to invest in a particular answer choice will also be visible. Once the player has confirmed the answer chosen and the desired amount, the investment made shall be shown in the player’s portfolio.
However, once the time limit on the question ends, players will not be able to change their answer, and points will be awarded once the event being predicted ends or has been resolved, with the outcome being known.
How can a Player Earn Money by Playing Prediction Games?
Players can earn money based on the accuracy of the answers they give. The resolution of questions can take 5 minutes or extend up to 24 hours, depending on the event the question pertains to. Once the event has concluded or the outcome is known, the winnings will get credited to the player’s account. Transactions are safe, secure, and instant.
What do Players Need to do to Increase Their Winnings?
Predicting the outcome of an event requires knowledge, intelligence, and foresight. That being said, the key to increasing one’s winnings revolves around researching well on a topic, forming balanced and well-informed analyses, reviewing and cross-checking all available information, and making wise and appropriate investments.
Are Prediction Games a Form of Gambling?
As questions in prediction games require knowledge – or at least educated or informed guesswork – of a particular subject, they are not games of chance. Therefore, according to the law in India, they are not a form of gambling. However, cash games are illegal in certain Indian states, so players are advised to familiarize themselves with the respective laws of the state they reside in.
Why Should One Play Prediction Games?
Prediction games are a fun way to spend time and a platform for people to make predictions and earn money. These games are an excellent way for people to put their knowledge on a range of topics to the test and their ability to make informed guesses. Prediction game apps also offer tournaments where players can compete with their friends; the best part is that the money earned is immediately transferred to their accounts!
Read: Farewell to the Finchy Era: A Tribute to Aaron Finch’s Cricketing Career
