Willy Wonka has nothing on Las Vegas sports books when it comes to selling Golden tickets.
Thirteen wagers were put in 500-1 chances on the Golden Knights to win the Stanley Cup in the Westgate sports publication during the preseason. 350 futures 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 expansion team in sports history.
The Knights still are eight successes from winning the Stanley Cup, but their backers can lock in a healthy gain today by selling their stocks stakes on PropSwap.com.
A startup secondary market for busy sports wagers in vegas, PropSwap, has offered 20 Knights stakes and has five futures tickets for sale, including a $400 bet at 300-1 chances that pays $120,000. That ticket is available for $40,000.
“Just like StubHub will for Golden Knights tickets, we do for Golden Knights stakes,” explained 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 go out and locate buyers for that.”
PropSwap, which takes 10% of the selling price, also has a $300 ticket on the Knights in 100-1 odds that pays $30,000 on sale for $13,500.
In both circumstances, the seller is prepared to take less than the purchase price, considering the Knights are currently the 3-1 second choice to win the NHL title.
“All these are open for bidding,” Epstein said. “We can negotiate.”
A 500-1 ticket — a $50 wager has been sold 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’d make 125 times your money,” Pergande said. “When is the last time you’ve hit a 125-1 long haul?”
Other earnings of Knights tickets comprised a $70 bet at 200-1 chances to win $14,000 that sold for $250 in November. The identical ticket was sold for $1,400 in March.
A $100 ticket at 100-1 chances to win $10,000 currently sold for $1,750, and also a $10 ticket in 150-1 odds to win $1,500 sold for $660 on Monday.
“My guidance to Knights fans would be to offer your ticket, lock in a gain and enjoy the remainder of the Stanley Cup playoffs,” Epstein said. “nobody ever went broke taking a profit”
Pergande said many Knights backers have resisted selling their own tickets lest they be considered less than a true fan.
“It doesn’t make you any less of a fan if you sell your wager,” he said. “You’re still rooting for the Knights. You just like money.”
In January, PropSwap sold for $3,450 a bettor’s $50 ticket in 200-1 chances to win $10,000 about the Knights winning the Pacific Division. The seller created over $3,000, and the buyer finally turned a profit of $6,550.
The Knights continue to fuel that a seller’s market, since they’ve yet to track in a playoff series. But Epstein cautions that they’ll be underdogs in 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 said. “They believe this roller coaster is going to keep going up and up and it’s not likely to stop. … We are trying to put money in your pocket”
William Hill would shed more than $1 million if a Knights hoist the Cup, and Wynn Las Vegas sports book director Johnny Avello estimates the state’s sports books would lose $5 million to $10 million.
More betting: Follow all of our sports betting coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact reporter Todd Dewey at email@example.com. Follow.
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