Willy Wonka has nothing on Las Vegas sports books when it comes to selling Golden tickets.
Thirteen wagers were put in 500-1 odds on the Golden Knights to win the Stanley Cup in the Westgate sports book. William Hill sports publication took 350 futures on the Knights at 100-1 or higher.
Those long-shot wagers and prospective souvenirs suddenly have been magically transformed into virtual Golden tickets by arguably the best expansion team in gaming history.
The Knights are eight victories from winning the Stanley Cup, but their backers could lock into a healthy profit now by selling their stocks stakes on PropSwap.com.
A startup secondary marketplace for active sports wagers at vegas, PropSwap, has sold 20 Knights bets and contains five futures tickets available, including a $400 bet at 300-1 chances that pays $120,000. That ticket is on sale for $40,000.
“Much like StubHub will for Golden Knights tickets, we do for Golden Knights bets,” said Ian Epstein, who founded PropSwap with Luke Pergande. “We’re a broker. You will find people with sports stakes that are looking to market, and we head out and locate buyers for that.”
PropSwap, that takes 10 percent of the sale price, also has a $300 ticket to the Knights in 100-1 likelihood that pays $30,000 available for $13,500.
In both cases, the vendor is prepared to accept less than the sale price, considering that the Knights are currently the 3-1 second choice to win the NHL title.
“These are open for bidding,” Epstein said. “We can negotiate.”
There has been — a wager A 500-1 ticket marketed for $550 in November on PropSwap. The buyer put it up available for as much as $4,400 but has since taken it off the market. Another 500-1 wager — $20 to win $10,000 — is in the corporation’s database but isn’t available, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you bet that a 500-1 ticket and sold it today, you would make 125 times your money,” Pergande said. “When is the last time you’ve hit a 125-1 long shot?”
Other sales of Knights tickets comprised a $70 bet at 200-1 chances to win $14,000 that sold for $250 in November. The same ticket has been 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 in 150-1 chances to win $1,500 sold for $660 on Monday.
“My guidance to Knights fans would be to sell your ticket, lock in a profit and revel in the rest 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 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 cash.”
In January, PropSwap sold for $3,450 a bettor’s $50 ticket at 200-1 chances to win $10,000 about the Knights winning the Pacific Division. The seller created more than $3,000, and also the buyer ultimately turned into a gain 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 possess home-ice advantage.
“These men who have Knights stakes have never had their backs against the walls,” he explained. “They think this roller coaster will keep moving up and up and it’s never going to stop. … We are trying to put cash 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 quotes 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 writer Todd Dewey in email@example.com. Follow.
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