It’s almost time, the Orange will compete against Argentina in the quarterfinals of the World Cup. The superpower with none other than Lionel Messi on the team is a tough opponent, and so do the crypto gamblers Polymarket to find. Who do they expect to be the winner? Read on quick!
Argentina favorite for crypto gamblers
On the Polymarket platform, gamblers can gamble with crypto on all kinds of events. The Football World Cup is of course a perfect event for this platform. It therefore allows users to wager during each match. They do this with the stablecoin USD Coin (USDC).
To gamble, users must buy shares in the outcome they expect. The prices of these shares are between $0.01 and $1. Suppose you expect the Netherlands to win, then you buy shares in the outcome that the Netherlands wins.
Once the event is over and the outcome is known, bets will be settled. Whoever had shares in the correct outcome can cash out the shares for $1. Those who were wrong are left with worthless shares.
In other words, the current value of an outcome reflects what the bettors on Polymarket expect. At first glance, that does not look very positive for the Netherlands. The shares for the outcome that the Netherlands wins are at $0.39 at the time of writing. Argentina’s are worth $0.61. This means that the gamblers consider it more likely that Argentina will win!
So it will be exciting whether the Orange will make it. Of course, no one can predict the future, not even the hardened crypto fanatics among us. And so we at least keep our orange glasses on!