Did People Bet on England vs Senegal? Looking at Polymarket

2025-06-11

Polymarket is a decentralised prediction platform that allows users to speculate on real-world events using cryptocurrency. It gained traction for its markets during major global events, including elections and sports fixtures. One such market was the FIFA World Cup match between England and Senegal. On the surface, it seems like a novelty. But under the hood, Polymarket represents a growing interest in the overlap between crypto and event-based betting.

Unlike traditional betting platforms, Polymarket allows users to buy shares in a predicted outcome. These shares are priced between $0 and $1, representing the probability of an event occurring. For example, if England were highly favoured to win, shares for that outcome would be priced close to $1.

For the England vs Senegal match, the market showed a significant tilt toward England. Traders heavily backed the English side before the match began, and the price of the “Yes” shares for England’s win reflected strong confidence. In fact, just before kickoff, data showed the market giving England an approximate 85% chance of winning. This lined up well with broader public sentiment and most analysts’ predictions.

What makes Polymarket unique is its use of the Polygon blockchain. This allows fast and low-cost transactions, although users do need to manage cryptocurrency wallets to participate. While the technical setup may limit accessibility, the appeal lies in its transparent, on-chain trading data and ability to reflect public opinion in real time.

Still, one must note: the coin associated with this platform lacks full clarity. There is currently no accessible whitepaper, and the project does not have an official token at the forefront, at least not one directly linked on its site. This raises caution for any deeper investment beyond just market speculation.

What the Data Revealed During the Match

The market around the England vs Senegal game tells us quite a bit about how people perceive national teams through a trading lens. According to Polymarket, participants placed over $155,000 in bets before the match concluded. This is a considerable amount for a single sporting event on a blockchain platform, showing how closely crypto traders are beginning to align with live, real-world sports.

The market for this match remained active up until England secured their win. As the game progressed, the value of “Yes” shares for England's win surged, reflecting real-time reactions. In essence, the platform acted not only as a betting exchange but as a form of crowd-sourced live analytics. People were effectively voting with their crypto.

However, the numbers also revealed regional trends. Most of the activity came from wallets tied to English-speaking countries, suggesting that national sentiment still plays a huge role in prediction markets. This could raise questions about objectivity. If markets are swayed by emotional patriotism, they might not always reflect true probabilities.

Another interesting point was the relatively low trading volume on Senegal’s win. It barely moved throughout the match, suggesting little confidence in an upset. Whether that reflects actual match dynamics or just biased betting is debatable.

In short, Polymarket data can offer insights beyond just profit and loss. It tells a story of belief, real-time reaction, and the way people interact with world events through crypto markets. But again, this doesn’t mean that the platform should be seen as an investment opportunity. The underlying asset structure remains murky, and long-term holders have no clear guide on how the project will evolve.

Risks, Uncertainty, and the Future of Crypto Betting

While the novelty of betting on real-world events with crypto sounds exciting, it’s important to step back and evaluate the bigger picture. Polymarket works, in principle, as a prediction market. But that does not make it risk-free or investment-grade.

Firstly, regulatory oversight remains unclear. In some jurisdictions, crypto betting platforms fall under gambling laws, which vary widely. Without a proper license, a user could be participating in activities that local law doesn’t allow. There is also the issue of platform stability. As a relatively niche product in the Web3 space, Polymarket is subject to the volatility and risk that affects many decentralised applications.

From a technical perspective, there is no official Polymarket coin that functions like a traditional token with staking or governance features. Even when references to tokens appear, details are vague. The project’s website does not provide an accessible whitepaper, and there is little public documentation on tokenomics, distribution, or team members.

This is a red flag for any user considering more than just speculative trading. Without transparent project details, it’s difficult to justify long-term engagement. Even the act of simply funding a wallet to place a bet might expose the user to smart contract risk or front-end vulnerabilities.

Another concern is accessibility. Users must be familiar with setting up crypto wallets, managing funds on Polygon, and interacting with Web3 applications. While these steps are second nature to seasoned crypto users, they may alienate those new to the space. It creates a kind of exclusive environment, where only those with sufficient knowledge can participate safely.

Looking ahead, Polymarket and platforms like it could play a larger role in bridging traditional interests—like sports and politics—with decentralised finance. But for now, users should approach with caution. Treat it as entertainment, not investment, and always verify project details before depositing funds.

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