For the purpose of sports and other major events
Reddit has officially launched its new Predictions feature after running it for almost a year. It lets users compete by guessing the outcome of upcoming events like sports matches or award ceremonies. The predictions build on and gamify the site’s existing polls feature from last year, allowing users to place bets and earn tokens based on successful predictions as part of short tournaments. There is no real money involved, only bragging rights, although Reddit Premium members say “There may be special benefits or benefits in the future.“
Prediction tournaments can only be posted by moderators and consist of a series of questions for users to bet on their answers. This list may be expanded by moderators as the tournament progresses. Each participating user is given 1,000 free tokens for answering asked questions, such as which film could win Best Picture at the next Oscars. If they are right, they get their share of the winnings; But if they make too many wrong predictions and lose all their tokens, they are out of the tournament.
It’s important to note that although Reddit allows users to pay for features like Reddit Premium, the Predictions feature currently doesn’t involve any real money. Tokens are distributed for free to anyone who wishes to participate, and at the end of the tournament they are used to calculate the leaderboard of its winners. Tokens are non-transferrable and cannot be moved between tournaments.
Reddit has been testing its prediction feature in select subreddits for almost a year and says that more than a million people have already taken part in the tournament. Past tournaments have included predicting the results of the Oscars, the 2021 Formula 1 Grand Prix and this year’s Euro Soccer tournament. Now, however, the feature is being rolled out to any subreddit with more than 10,000 members.