Polymarket Betters Are Overwhelmingly Losing Money: Here’s Why
Despite its popularity, recent data shows that most traders are losing money. Namely, just 12.7% of the wallets on Polymarket reported realized profits since.
tldr; Polymarket, a decentralized prediction platform on Polygon, is seeing most of its users lose money, with only 12.7% of wallets showing profits. The platform, popular for betting on events like the US election, faces issues with low liquidity, leading to unfavorable trade prices. Despite a $1 billion betting volume, 91% is tied to the US Presidential election, highlighting liquidity challenges. Competitors like Solana-based BET offer better liquidity, making them more efficient. Polymarket’s track record shows that even correct predictions may not yield profits due to these challenges.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
hiorea on
> out of 176,076 wallets that interacted with Polymarket, 87.3% reported losses
Most of the bets are just simple yes or no questions. But how these wallets still dont know what is profit
timbulance on
I took a look at Polymarket a month of so ago and those prediction bets seem addicting as hell.
MrBanana212 on
There use to be a betting-like oracle on Eth that was the same way. There were ways to game the parameters so the bettor would not *technically* lose. Betting became pointless after awhile.
Edit: trying to remember the oracle. Was it gnosis?
JustStopppingBye on
Ya, the house always wins….
PandorasBucket on
Yeah it sucks. I placed one bet on an illiquid market and some how my $150 made the market go from 9 cents to 47 cents just for my order and then 1 minute later it was back down to 9 cents. So basically my money just vaporized in one trade, no warning, no confirmation, just gone. I’m not touching it anymore. Also the outcome is very objective in many cases.
themrgq on
Just a post to suggest poly market is wrong with its prediction Trump will win
kilo6ronen on
I checked out the site the other day and it’s actually so funny. Gambling at its finest, the horse race better of crypto
8 Comments
tldr; Polymarket, a decentralized prediction platform on Polygon, is seeing most of its users lose money, with only 12.7% of wallets showing profits. The platform, popular for betting on events like the US election, faces issues with low liquidity, leading to unfavorable trade prices. Despite a $1 billion betting volume, 91% is tied to the US Presidential election, highlighting liquidity challenges. Competitors like Solana-based BET offer better liquidity, making them more efficient. Polymarket’s track record shows that even correct predictions may not yield profits due to these challenges.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
> out of 176,076 wallets that interacted with Polymarket, 87.3% reported losses
Most of the bets are just simple yes or no questions. But how these wallets still dont know what is profit
I took a look at Polymarket a month of so ago and those prediction bets seem addicting as hell.
There use to be a betting-like oracle on Eth that was the same way. There were ways to game the parameters so the bettor would not *technically* lose. Betting became pointless after awhile.
Edit: trying to remember the oracle. Was it gnosis?
Ya, the house always wins….
Yeah it sucks. I placed one bet on an illiquid market and some how my $150 made the market go from 9 cents to 47 cents just for my order and then 1 minute later it was back down to 9 cents. So basically my money just vaporized in one trade, no warning, no confirmation, just gone. I’m not touching it anymore. Also the outcome is very objective in many cases.
Just a post to suggest poly market is wrong with its prediction Trump will win
I checked out the site the other day and it’s actually so funny. Gambling at its finest, the horse race better of crypto