Willy Wonka has nothing on Las Vegas sports books in regards to selling Golden tickets.
Thirteen wagers were placed at 500-1 odds on the Golden Knights to win the Stanley Cup at the Westgate sports publication during the preseason. William Hill sports book took 350 futures bets on the Knights at 100-1 or higher.
Those long-shot wagers and prospective souvenirs suddenly have been transformed into virtual Golden tickets by arguably the best growth team in gaming history.
The Knights still are eight victories from winning the Stanley Cup, but their backers can lock in a healthy profit today by selling their stocks stakes on PropSwap.com.
A startup secondary marketplace for busy sports wagers at vegas, PropSwap, has offered 20 Knights stakes and has five futures tickets available, including a $400 wager at 300-1 odds that pays $120,000. That ticket is on sale for $40,000.
“Much like StubHub does for Golden Knights tickets, we do for Golden Knights stakes,” said Ian Epstein, who founded PropSwap with Luke Pergande. “We’re a broker. You will find individuals with sports stakes that want to market, and we go out and find buyers for that.”
PropSwap, that takes 10 percent of the sale price, also has a $300 ticket to the Knights at 100-1 likelihood that pays $30,000 available 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 acquire the NHL title.
“These are available for bidding,” Epstein said. “We can negotiate.”
There has been — a $50 wager A ticket sold for $550 in November on PropSwap. The purchaser put it 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 — is in the company’s database but isn’t available, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you gamble a 500-1 ticket and marketed it today, you’d make 125 times your cash,” Pergande said. “When’s the last time you’ve struck a 125-1 long shot?”
Other earnings of Knights tickets included a $70 bet at 200-1 chances to win $14,000 that sold for $250 in November. The same ticket was sold for $1,400 in March.
A $100 ticket in 100-1 chances to win $10,000 currently sold for $1,750, and a $10 ticket at 150-1 odds to win $1,500 sold for $660 on Monday.
“My advice to Knights fans would be to sell your ticket, then lock in a profit and enjoy 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 lest they be considered less than a genuine 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 simply like money.”
In January, PropSwap sold for $3,450 per month bettor’s $50 ticket at 200-1 odds to win $10,000 on the Knights winning the Pacific Division. The seller made more than $3,000, and the buyer finally turned into a gain of $6,550.
The Knights continue to fuel a seller’s market, since they’ve yet to trail in a playoff series. But Epstein warns that they will be underdogs from the Western Conference Final and won’t have 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 going up and up and it is not likely 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 director Johnny Avello estimates the nation’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 email@example.com. Follow.
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