Mike

2024

Mike Tyson

The Polymarket whale “zxgngl,” a high-stakes bettor who previously made a significant profit of around $11 million by betting on Donald Trump’s victory in the 2024 U.S. presidential election, faced a major setback with their bet on the boxing match between Mike Tyson and Jake Paul this past Friday night. 
In the weeks before the fight, the odds for the match on Polymarket <a href="https://polymarket.com/event/jake-paul-vs-mike-tyson-who-will-win/will-mike-tyson-win-his-boxing-match-against-jake-paul" target="_blank" rel="noreferrer noopener nofollow">showed</a> Jake Paul with a 63.5% chance of winning, Tyson with a 29.5% chance, and an 8.5% probability of a draw. 
However, zxgngl heavily favored Tyson, betting $3.6 million on the legendary boxer’s victory. This investment was made by purchasing over 11 million shares of Tyson’s winning outcome at an average price of 33¢ per share, essentially implying Tyson had roughly one-third odds of winning. 
Despite Tyson’s considerable experience in the ring, Paul, the 27-year-old influencer-turned-boxer, controlled the match from start to finish. Tyson, now 58 years old, looked fatigued as the fight progressed, while Paul maintained a high pace, peppering Tyson with punches for eight two-minute rounds. 
By the end of the match, Jake Paul was awarded a unanimous decision victory, and Tyson’s hopes of securing a win were dashed. 
As a result, zxgngl’s $3.6 million bet on Tyson <a href="https://x.com/lookonchain/status/1854057565396885924" target="_blank" data-type="link" data-id="https://x.com/lookonchain/status/1854057565396885924" rel="noreferrer noopener nofollow">resulted</a> in a significant loss, <a href="https://polymarket.com/profile/0xd235973291b2b75ff4070e9c0b01728c520b0f29" target="_blank" data-type="link" data-id="https://polymarket.com/profile/0xd235973291b2b75ff4070e9c0b01728c520b0f29" rel="noreferrer noopener nofollow">erasing</a> nearly a third of their prior $11 million profit. Despite this loss, the Polymarket whale still holds a prominent position on the platform, remaining as the fourth-highest earner according to Polymarket’s leaderboard. 
The fight generated significant attention, with $63 million in total volume being wagered on the market, making it one of the most actively traded events on Polymarket. 
Though zxgngl’s bet did not pay off, the sheer popularity of the event on the platform further cements Polymarket’s status as a go-to venue for prediction markets tied to high-profile events. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read:&nbsp; <a href="https://www.cryptotimes.io/2024/11/07/france-may-ban-crypto-betting-platform-polymarket/" target="_blank" rel="noreferrer noopener">France May Ban Crypto Betting Platform Polymarket</a> 
</blockquote>

Polymarket Whale’s $3.6M Bet on Tyson Backfires

The Crypto Times

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