As prediction markets become increasingly available on esports, one user has taken advantage. A trader on Polymarket has generated $118,000 in profit from esports wagers in just one month.
The user xdd07070 placed 40 predictions over the last month, gradually accumulating $118,748.16 in profit.
The biggest win was a $35,351 wager on FaZe to beat BC.Game Esports at IEM Krakow. This generated $17,490 in profit.
Of the 40 predictions, only four were wrong, with the biggest failure also backing BC.Game Esports to lose at IEM Krakow. That time, however, the user’s prediction of a win for Legacy came unstuck, leading to a loss of almost $12,500.
The bets appear to be natural picks, rather than a bot generating funds through buying and selling picks as prices change. One such bot managed to win over $200,000 in trading over three months.
Small Stakes Before Big Bets
The user began placing small-stakes trades on events, wagering an average of $66 on their first 9 predictions. Of these, only one lost, leading to profits of just over $150.
Then came big wagers, with bets of over $19,000 and $25,000. The picks were generally strong favorites, priced at over 55c. In prediction markets, this basically means the picks have a 55% or higher chance of success.
Anyone can access a user’s prediction history on Polymarket. The account, which is tied to a Chinese user on X, now has almost 18,000 views.
Polymarket Investing In Esports
Polymarket has a host of esports events on its platform. At the time of writing, there were over 200 events, just across LoL, Dota 2, Counter-Strike, and Valorant.
The company has been busy making deals with a range of sports organizations since reentering the US market last year. The latest was a deal with BLAST, signed last week.
Matthew Modabber, CMO of Polymarket, said: “Esports has long been dominated by traditional sportsbooks, but prediction markets open the door to a more transparent and community-driven way for fans to engage with competition.”
Part of the community aspect is that users can follow others and chart the progress of their predictions. The picks of xdd07070 look set to be monitored closely over the next month to see if the user can replicate their recent success.