World Cup Knockout Stage Sees Upsets, Biggest "Victim" Loses Millions in a Single Day

According to PolyBeats monitoring, in the prediction market Polymarket, a savvy investor went all in on underdogs in three yesterday's World Cup matches, wagering $852k, causing the account to give back almost $400k in paper profits for the year and resulting in a total account loss of over $600k.

Address 0xc29e1cef's best-performing category in this market is Sports, with a net profit of $298k prior to this event. The user has a win rate of 54/121 (45%) across 121 settled transactions in this category.

Today, the account made consecutive wrong bets on favorites or mid-range odds directions in the Round of 32 of the World Cup, bringing the recent 1-day P/L to -$902.9k. Notably, the prediction "Germany v.s. Paraguay: Germany wins" incurred a loss of $495.6k, "Brazil v.s. Japan: Japan wins" incurred a loss of $160.6k, and "Netherlands v.s. Morocco: Netherlands wins" incurred a loss of $196.6k.

Today's three knockout stage matches featured top-contending countries for this year's World Cup. Apart from Brazil narrowly defeating Japan in the last minute, both Germany and the Netherlands, two major favorites, were upset in penalty shootouts, with only five total goals scored. The user clearly did not anticipate Germany's loss, having the largest stake on Germany.

Account:
0xc29e1cef4256f423e5a3e713d886bd25f98da2ca

Total Daily Loss: $852k
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