Google allows online ads for prediction markets: What to know
Prediction markets are a rapidly emerging method of betting on real-world events, and these hot new betting opportunities will now be allowed to run ads on Google, with some caveats.
Google is regularly updating its policies on betting and gambling ads to ensure better protection for its customers and that it remains in line with shifting regulations worldwide. Prediction markets are a new and trending betting mechanism that many assumed Google would prohibit from advertising. But the tech giant has announced that prediction markets will be able to advertise on Google, albeit with strict rules that are meant to ensure customer safety.
Prediction markets will be the first real-world forecasting exchange to be able to advertise on Google, and here’s how those online ads will be allowed to function.
Can all prediction market operators advertise on Google?
Google is known for keeping a close grip on operators running ads on its platform, and prediction markets are no different, as the tech giant has stated that only US operators that are federally regulated and meet Google’s certification requirements can run ads to domestic users. Unregulated and offshore prediction markets will be strictly prohibited.
Google has classified prediction markets under the Financial Services and Gambling & Games policy framework, rather than s generic digital ads. This distinction separates prediction markets from many other types of online ads. Speculative markets that aren’t exchange-listed event contracts remain prohibited from advertising through Google.
Prediction markets differ significantly from other forms of gambling, such as sports betting, as odds fluctuate according to market shifts, bets can be placed on just about anything, and bettors are free to sell their contracts to others.
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Prediction markets will still have to comply with Google’s betting and gambling ads polices. Operators can’t target underage users, must have clear disclaimers about risks, and may not mislead customers.
Google’s strict safety measures are expected, but its decision to allow prediction markets to put out ads online through the tech giant’s reach may prove to be a game-changer for the emerging industry. Major platforms that are federally regulated and meet Google’s certification requirements are expected to be the first to benefit from this change, and still others are expected to try to follow suit.
When and how prediction market operators can run ads on Google
Google’s new policy allowing prediction markets to run ads online will go into effect on January 21. Operators can apply for Google’s certification before that date, but won’t be able to run ads until the new policy is live. Operators must also submit proof of meeting federal regulations as part of the certification process required to advertise via Google. The company will review the application for compliance, and once it’s approved, operators can begin running ad campaigns.
The ads can be displayed via Network Display, Search, or on YouTube, though some US states have prohibited prediction markets in advance. The state of Nevada, for instance, is excluded because of ongoing legal disputes involving prediction market operators. The responsibility to meet local law requirements is on prediction market operators, and violating local regulations can lead to a ban from using Google ads.
Feature image credit: Canva
Khizar Mundia has been playing video games for as long as he can recall. Things have come a long way since the many days he spent playing the original NES, though. He now covers a variety of competitive games and esports, as well as the world of streaming, ranging from Twitch to Kick. If it’s of interest to gamers, it’s of interest to Khizar.
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