Willy Wonka has nothing on vegas sports books in regards to selling Golden tickets.
Thirteen wagers were placed in 500-1 chances on the Golden Knights to win the Stanley Cup at the Westgate sports publication. 350 futures bets were taken by william Hill sports publication on the Knights.
Those long-shot wagers and prospective souvenirs suddenly have been transformed into virtual Golden tickets by arguably the greatest growth team in gaming history.
The Knights still are eight victories from winning the Stanley Cup, but their backers could lock into a healthy gain today by selling their futures bets on PropSwap.com.
A startup secondary marketplace for busy sports wagers at vegas, PropSwap, has offered 20 Knights bets and has five futures tickets for sale, such as a $400 bet at 300-1 odds that pays $120,000. That ticket is available for $40,000.
“Much like StubHub does for Golden Knights tickets, we do for Golden Knights stakes,” said Ian Epstein, who founded PropSwap with Luke Pergande. “We are a broker. There are individuals with sports bets that are looking to sell, and we head out and locate buyers for this.”
PropSwap, which takes 10 percent of the selling price, also includes a $300 ticket to the Knights in 100-1 likelihood that pays $30,000 on sale for $13,500.
In both cases, the seller is willing to take less than the purchase price, considering the Knights are now the 3-1 second choice to win the NHL title.
“These are open for bidding,” Epstein said. “We can negotiate.”
There was — a $50 bet to win $25,000 — A 500-1 ticket marketed for $550 in November PropSwap. The purchaser put it back up available for as much as $4,400 but has since taken it off the market. Another 500-1 bet — $20 to win $10,000 — also is at the corporation’s database but isn’t available, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you gamble that a 500-1 ticket and marketed it now, you would make 125 times your money,” Pergande explained. “When’s the last time you have struck a 125-1 long shot?”
Other sales of Knights tickets comprised a $70 wager at 200-1 odds to win $14,000 that sold for $250 in November. The ticket has been sold again for $1,400 in March.
A $100 ticket at 100-1 odds to win $10,000 recently sold for $1,750, and a $10 ticket at 150-1 odds to win $1,500 sold for $660 on Monday.
“My advice to Knights fans would be to offer your ticket, lock in a gain and revel in the rest of the Stanley Cup playoffs,” Epstein said. “No one ever went broke taking a profit.”
Pergande said many Knights backers have resisted selling their tickets pretending they’re considered less than a genuine fan.
“It will not make you any less of a fan if you market your wager,” he said. “You’re still rooting for the Knights. You just like cash.”
In January, PropSwap sold for $3,450 a bettor’s $50 ticket in 200-1 odds to win $10,000 on the Knights winning the Pacific Division. The seller created over $3,000, and also the purchaser finally turned into a profit of $6,550.
The Knights continue to fuel a seller’s market, as they have yet to track in a playoff series. But Epstein cautions that they will be underdogs from the Western Conference Final and won’t have home-ice advantage.
“These guys who have Knights stakes have never had their backs against the walls,” he explained. “They think this roller coaster will keep moving up and up and it is never going to stop. … We are trying to put cash in your pocket.”
William Hill would lose more than $1 million if the Knights hoist the Cup, and Wynn Las Vegas sports book manager Johnny Avello quotes the nation’s sports books would lose $5 million to $10 million.
More betting: Follow all of our sports gambling coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact reporter Todd Dewey in tdewey@reviewjournal.com. Follow.
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