One gambler placed a 7-team parlay for $100 to win $222,160.94. The seven legs of the parlay were: Los Angeles Dodgers to win the World Series, Los Angeles Lakers to win the NBA title, Tampa Bay Lightning to win the Eastern Conference, Clemson to win the ACC, Alabama to win the SEC, Tampa Bay Bucs to win the NFC, and the Baltimore Ravens to win the AFC.
Five of the seven legs have hit, which brings us to this weekend’s Divisional Round of the NFL playoffs. The bettor needs both the Bucs and Ravens to advance to keep the ticket alive.
Both Tampa Bay and Baltimore are short road dogs this weekend at New Orleans and Buffalo, respectively.
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In years past, the bettor would have no choice but to let the ticket ride. But, thanks to PropSwap -- a ticket exchange that lets you buy and sell active betting tickets -- the gambler still has a chance to move his lottery ticket to a perspective buyer.
“I'm not sure every single sportsbook in the country would accept a $20,000 Parlay at 22/1 Odds (the current Odds on Tampa Bay to play Baltimore in the Super Bowl),” said Luke Pergande, Founder of PropSwap. “So the buyer turned to us.”
The original bettor ended up posting his ticket on PropSwap, and a person offered him $20,000 for it. Here’s is the crazy thing, the bettor declined the offer. The gambling man is said to be looking for $30,000 to pull the trigger.
“From the seller's perspective, this one was a head-scratcher,” said Pergande. “The current market value is $9,700 ($9,700 wagered at 22/1 Odds would pay $223,000 (the same as his Ticket pays).
“He's declining an offer that's more than 2x the current value. It's like declining $500 for a stock that trades at $250.”
So, what’s next? Will the bettor sell his ticket before kick-off? Or, will he lay down some bets to hedge?
“My advice would be take the $20K from us,” Pergande stated. “Take half, and make a new bet for $10K at 22/1 Odds, with a new ticket paying $230,000. Now you're in the same position, and cleared $10K in your pocket.”
My thoughts coincide with Pergande’s. I’d cash out and make some subsequent bets to ensure a big payout if things played out exactly the way I envisioned when placing the bet.
This scenario will be fun to watch play out. What would you do in this position?