Willy Wonka has nothing on vegas sports books when it comes to selling Golden tickets.
Thirteen wagers were put on the Golden Knights to win the Stanley Cup at the Westgate sports book during the preseason. 350 futures were taken by william Hill sports book on the Knights.
Those long-shot wagers and would-be souvenirs suddenly have been transformed into virtual Golden tickets by arguably the best expansion team in gaming history.
The Knights are eight successes from winning the Stanley Cup, but their backers can lock into a healthy gain now by selling their futures bets on PropSwap.com.
A startup secondary marketplace for active sports wagers at vegas, PropSwap, has offered 20 Knights stakes and contains five futures tickets available, such as a $400 bet at 300-1 chances 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 bets,” said Ian Epstein, who founded PropSwap with Luke Pergande. “We are a broker. There are individuals with sports stakes that want to sell, and we go out and find buyers for this.”
PropSwap, that takes 10% of the selling price, also has a $300 ticket on the Knights at 100-1 odds that pays $30,000 available for $13,500.
In both cases, the vendor is willing to take less than the purchase price, considering that 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 $50 wager A 500-1 ticket marketed on PropSwap for $550 in November. The buyer 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 — also is in the company’s database but isn’t for sale, 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 explained. “When is the last time you have struck a 125-1 long haul?”
Other earnings of Knights tickets included a $70 wager at 200-1 chances to win $14,000 that sold for $250 in November. The same ticket was sold again for $1,400 in March.
A $100 ticket in 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, 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 significantly less than a genuine fan.
“It doesn’t make you any less of a fan if you market your wager,” he said. “You’re still rooting for the Knights. You just like cash.”
In January, PropSwap sold for $3,450 per month bettor’s $50 ticket in 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 a gain of $6,550.
The Knights continue to fuel a seller’s market, as 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 bets have never had their backs against the wall,” he explained. “They think this roller coaster is going to keep going up and up and it’s never going to stop. … We are trying to put cash in your pocket.”
William Hill would shed more than $1 million if a Knights hoist the Cup, and Wynn Las Vegas sports book director Johnny Avello estimates the state’s sports books would lose $5 million to $10 million.
More betting: Follow all our sport gambling coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact reporter Todd Dewey at firstname.lastname@example.org. Follow.
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