Willy Wonka has nothing on Las Vegas sports books in regards to selling Golden tickets.
Thirteen wagers were placed on the Golden Knights at 500-1 odds to win the Stanley Cup in the Westgate sports publication throughout the preseason. 350 futures bets were taken by william Hill sports publication on the Knights at 100-1 or higher.
Those long-shot wagers and would-be souvenirs suddenly have been transformed into virtual Golden tickets by arguably the greatest growth team in gaming history.
The Knights still are eight victories from winning the Stanley Cup, but their backers can lock in a healthy gain now by selling their futures bets on PropSwap.com.
A startup secondary marketplace for busy sports wagers in vegas, PropSwap, has sold 20 Knights bets and contains five futures tickets for sale, including a $400 bet at 300-1 odds 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 stakes,” said Ian Epstein, who based PropSwap with Luke Pergande. “We are a broker. There are individuals with sports stakes that want to sell, and we go out and locate buyers for this.”
PropSwap, which takes 10% of the sale price, also includes a $300 ticket on the Knights in 100-1 odds that pays $30,000 on sale for $13,500.
In both circumstances, the seller is prepared to take less than the sale price, considering that the Knights are currently the 3-1 second choice to win the NHL title.
“All these are available for bidding,” Epstein said. “We can negotiate.”
A ticket — a bet has been sold on PropSwap for $550 at November. The purchaser put it back 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 at the company’s database but is not available, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you gamble a 500-1 ticket and marketed it now, you’d make 125 times your money,” Pergande said. “When is the last time you’ve struck a 125-1 long shot?”
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 was sold for $1,400 in March.
A $100 ticket in 100-1 chances to win $10,000 currently sold for $1,750, and also a $10 ticket at 150-1 odds to win $1,500 sold for $660 on Monday.
“My advice to Knights fans is to offer your ticket, lock in a profit and revel in the remainder of the Stanley Cup playoffs,” Epstein said. “No one ever went broke taking a profit”
Pergande said many Knights backers have resisted selling their tickets lest they be considered less than a genuine fan.
“It will not make you any less of a fan if you market your bet,” 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 chances to win $10,000 on the Knights winning the Pacific Division. The seller made more than $3,000, and the purchaser ultimately turned into a gain of $6,550.
The Knights continue to fuel a seller’s market, as they have yet to trail in a playoff series. But Epstein warns that they’ll be underdogs in the Western Conference Final and will not possess home-ice advantage.
“These men who have Knights stakes have never had their backs against the wall,” he explained. “They believe this roller coaster is going to keep going up and up and it’s never going to stop. … We are trying to put money 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 quotes the nation’s sports books would lose $5 million to $10 million.
More betting: Follow all of our sports gambling coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact writer Todd Dewey in email@example.com. Follow @tdewey33 on Twitter.
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