Willy Wonka has nothing on vegas sports books in regards to selling Golden tickets.
Thirteen wagers were placed on the Golden Knights to win the Stanley Cup at the Westgate sports publication. 350 futures bets were taken by william Hill sports book on the Knights in 100-1 or greater.
Those long-shot wagers and prospective souvenirs suddenly have been transformed into virtual Golden tickets by arguably the greatest expansion team in gaming history.
The Knights are eight successes from winning the Stanley Cup, but their backers can lock in a healthy profit now by selling their stocks stakes on PropSwap.com.
A startup secondary market for busy sports wagers in vegas, PropSwap, has offered 20 Knights bets and has five futures tickets available, including a $400 wager 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,” said Ian Epstein, who based PropSwap with Luke Pergande. “We’re a broker. You will find individuals with sports bets that want to market, and we go out and locate buyers for this.”
PropSwap, which takes 10 percent of the selling price, also has a $300 ticket to the Knights in 100-1 odds that pays $30,000 available for $13,500.
In both cases, the vendor is prepared to accept less than the purchase price, considering that 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.”
There was — a wager to win $25,000 — A 500-1 ticket sold for $550 at November PropSwap. The buyer 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 in the company’s database but is not for sale, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you gamble that a 500-1 ticket and marketed it today, you’d make 125 times your money,” Pergande said. “When’s the last time you’ve struck a 125-1 long shot?”
Other earnings of Knights tickets comprised a $70 wager at 200-1 odds to win $14,000 that sold for $250 in November. The same 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 a $10 ticket at 150-1 chances to win $1,500 sold for $660 on Monday.
“My guidance to Knights fans would be to sell your ticket, then lock in a gain and revel in 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 tickets lest they be considered significantly less than a true fan.
“It doesn’t make you any less of a fan if you sell your wager,” he explained. “You are still rooting for the Knights. You just like money.”
In January, PropSwap sold for $3,450 per month bettor’s $50 ticket in 200-1 odds to win $10,000 on the Knights winning the Pacific Division. The seller made over $3,000, and the purchaser finally turned into a gain of $6,550.
The Knights continue to fuel that a seller’s market, as they’ve yet to track in a playoff series. But Epstein warns that they will be underdogs from the Western Conference Final and won’t possess home-ice advantage.
“These men who have Knights stakes have never had their backs against the walls,” he said. “They think this roller coaster is going to 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 state’s sports books would lose $5 million to $10 million.
More gambling: Follow all of our sport gambling coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact writer Todd Dewey in firstname.lastname@example.org. Follow @tdewey33 on Twitter.
Read more: manchesterinnews.com