World Cup Fans Bet Billions Through Prediction MarketsCristiano Ronaldo during Portugal’s losing game against Spain earlier this month. With 48 teams playing 104 games, the World Cup was slated to be the biggest gambling event of all time. This would appear to align with Bellingcat’s World Cup analysis, where a small percentage of accounts made most of the winnings. On Polymarket, users traded a total of $10 billion ($5.7 billion on individual games and $4.3 billion on which country would win). We applied this formula for the more than 21,000 World Cup markets.