Willy Wonka has nothing on vegas sports books when it comes 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 during the preseason. 350 futures bets were taken by william Hill sports book on the Knights.
Those long-shot wagers and prospective memorabilia abruptly have been transformed into virtual Golden tickets by arguably the best expansion team in gaming history.
The Knights still are eight successes from winning the Stanley Cup, but their backers could lock into a healthy gain today by selling their stocks stakes on PropSwap.com.
A startup secondary marketplace for busy sports wagers at Las Vegas, PropSwap, has sold 20 Knights bets and contains five futures tickets available, such as a $400 wager at 300-1 odds that pays $120,000. That ticket is available for $40,000.
«Much like StubHub will for Golden Knights tickets, we do for Golden Knights bets,» explained Ian Epstein, who based PropSwap with Luke Pergande. «We’re a broker. There are people with sports bets that are looking to market, and we head out and locate buyers for this.»
PropSwap, which takes 10% of the sale price, also has a $300 ticket on the Knights at 100-1 likelihood that pays $30,000 on sale for $13,500.
In both circumstances, the vendor is willing to accept less than the purchase price, considering the Knights are currently the 3-1 second choice to acquire the NHL title.
«These are available for bidding,» Epstein said. «We can negotiate.»
A ticket — a $50 wager to win $25,000 — was sold for $550 at November PropSwap. The purchaser put it up for sale for as much as $4,400 but has since taken it off the market. Another 500-1 wager — $20 to win $10,000 — is at the corporation’s database but isn’t available, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
«If you gamble a 500-1 ticket and sold it now, you’d make 125 times your money,» Pergande explained. «When’s the last time you’ve hit a 125-1 long shot?»
Other sales of Knights tickets included a $70 wager at 200-1 odds to win $14,000 that sold for $250 in November. The ticket was sold for $1,400 in March.
A $100 ticket at 100-1 odds to win $10,000 currently sold for $1,750, and also a $10 ticket in 150-1 chances to win $1,500 sold for $660 on Monday.
«My advice to Knights fans is to offer your ticket, then lock in a profit and revel in the remainder of the Stanley Cup playoffs,» Epstein said. «No one ever went broke taking a profit»
Pergande stated many Knights backers have resisted selling their tickets pretending they’re considered significantly less than a true fan.
«It will not make you any less of a fan if you sell your wager,» he explained. «You’re still rooting for the Knights. You simply like money.»
In January, PropSwap sold for $3,450 a bettor’s $50 ticket at 200-1 odds to win $10,000 about the Knights winning the Pacific Division. The seller created more than $3,000, and the purchaser ultimately turned into 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 will be underdogs in the Western Conference Final and won’t have home-ice advantage.
«These guys who have Knights bets have never had their backs against the walls,» he explained. «They believe this roller coaster is going to keep going up and up and it is not likely to stop. … We’re 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 state’s sports books would lose $5 million to $10 million.
More gambling: 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 @tdewey33 on Twitter.
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