Polymarket, a decentralized betting platform, saw a record $1.1 billion wagered on Super Bowl LIX, with 'abeautifulmind' emerging as a top winner with over $550,000 in profit. While some users thrived, others like 'hubertdakid' suffered significant losses, highlighting the risks inherent in peer-to-peer betting. The platform's total volume for sports-related contracts surpassed $6 billion, exceeding even its U.S. election betting markets. Polymarket faces regulatory challenges due to its decentralized nature, prompting investigations and restrictions in several jurisdictions.
, Polymarket saw historic action, receiving $1.1 billion in bets on Super Bowl LIX's outcome, where the Philadelphia Eagles defeated the Kansas City Chiefs 40-22.
However, not all bettors experienced the same success level. Another trader, known as 'hubertdakid,' lost $718,633 betting against the Eagles. This loss adds to an overall deficit of $638,177 on the platform. Additionally, other sports betting platforms started releasing Super Bowl wagering numbers: Fanatics Sportsbook reported via an email that 53% of its moneyline handle and 54% of total bets came in on the Eagles at -120 odds, with a majority of bettors thinking the Eagles could win the game outright.
The new type of wagering imposes various challenges on these novel businesses since authorities have questioned the legality and compliance of decentralized betting markets. For context, Polymarket isn't legal in the U.S., although similar platforms like
Finance Sports POLYMARKET SPORTS BETTING DECENTRALIZED FINANCE REGULATION SUPER BOWL LIX
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Super Bowl Odds: Sportsbooks Breathe Easier After Lions Loss Erases Super Bowl LiabilitySportsbooks breathed a sigh of relief after the Detroit Lions were eliminated from the NFL playoffs on Saturday night.
Read more »
Super Bowl Odds: Chiefs Favored By 1.5 Points Over Eagles in Super Bowl 59The latest hypothetical odds if the NFC Champion Philadelphia Eagles face the Kansas City Chiefs in Super Bowl 59 in New Orleans.
Read more »
Super Bowl Predictions: 5 Super Bowl 59 Bets to Make Right Now for Chiefs vs EaglesJason Logan breaks down the five best Super Bowl predictions to make right now including game totals, player props, and Super Bowl MVP.
Read more »
Julian Edelman on Angel Soft Bathroom Break Super Bowl Ad and Super Bowl LVII MatchupJulian Edelman discusses his new Super Bowl commercial for Angel Soft that encourages viewers to take a bathroom break during the game. He also shares his thoughts on the Super Bowl matchup between the Kansas City Chiefs and Philadelphia Eagles.
Read more »
How to Approach Super Bowl Betting Trends in 2025Learn about historic Super Bowl betting trends, and trends to avoid for Super Bowl 59.
Read more »
NFL Super Bowl LIX odds: Will any Super Bowl records be broken?Are any Super Bowl records in jeopardy of being broken this Sunday? Never say never. See the odds for which pages in the history books could be rewritten.
Read more »