Willy Wonka has nothing on Las Vegas sports books in regards to selling Golden tickets.
Thirteen wagers were placed at 500-1 chances on the Golden Knights to win the Stanley Cup in the Westgate sports book. 350 futures were taken by william Hill sports book on the Knights.
Those long-shot wagers and would-be memorabilia abruptly have been magically transformed into virtual Golden tickets by arguably the best expansion team in sports history.
The Knights are eight successes from winning the Stanley Cup, but their backers could lock into a healthy profit today by selling their stocks stakes on PropSwap.com.
A startup secondary market for active sports wagers in vegas, PropSwap, has offered 20 Knights bets and has five futures tickets available, such as a $400 bet at 300-1 chances that pays $120,000. That ticket is available for $40,000.
“Much like StubHub will for Golden Knights tickets, we do for Golden Knights stakes,” explained Ian Epstein, who based PropSwap with Luke Pergande. “We’re a broker. There are people with sports stakes that are looking to sell, and we go out and locate buyers for that.”
PropSwap, that takes 10 percent of the selling price, also has a $300 ticket to the Knights at 100-1 odds 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 now the 3-1 second choice to acquire the NHL title.
“All these are open for bidding,” Epstein said. “We can negotiate.”
There has been — a wager A 500-1 ticket marketed PropSwap for $550 at November. 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 — also is in the corporation’s database but isn’t for sale, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you bet that a 500-1 ticket and sold it now, you’d make 125 times your cash,” Pergande explained. “When’s the last time you’ve hit a 125-1 long haul?”
Other earnings of Knights tickets comprised a $70 wager at 200-1 chances to win $14,000 that sold for $250 in November. The ticket has been sold for $1,400 in March.
A $100 ticket in 100-1 chances to win $10,000 recently 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 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 own tickets pretending they’re considered less than a genuine 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 cash.”
In January, PropSwap sold for $3,450 a bettor’s $50 ticket in 200-1 odds to win $10,000 about the Knights winning the Pacific Division. The seller created over $3,000, and the purchaser ultimately turned a gain of $6,550.
The Knights continue to fuel that a seller’s market, as they have yet to trail in a playoff series. But Epstein cautions that they’ll be underdogs in the Western Conference Final and will not possess home-ice advantage.
“These men who have Knights bets have never had their backs against the wall,” he said. “They believe this roller coaster will keep moving up and up and it is not likely to stop. … We’re trying to put money in your pocket.”
William Hill would lose more than $1 million if a Knights hoist the Cup, and Wynn Las Vegas sports book manager Johnny Avello estimates the state’s sports books would lose $5 million to $10 million.
More gambling: Follow all of our sport betting coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact reporter Todd Dewey at firstname.lastname@example.org. Follow @tdewey33 on Twitter.
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