News
Gambler offering to sell Texas Tech future bet potentially worth $300,000(!) for $65,000
We're not sure if a mystery gambler doesn't like Texas Tech's matchup against Michigan State or if he got around to listening to the audio version of that risk management book George Costanza was supposed to read. Either way, someone holding a Texas Tech future bet with a potential payout of $300,000(!) is looking to sell. And this piece of paper can be yours for $65,000.
The bet slip has been put up for sale on Prop Swap, a website that helps broker deals for gamblers looking to cash out on bets early. Most sportsbooks allow gamblers to cash out early, but gamblers can earn bigger paydays if they find willing buyers. For instance, earlier this week, someone unloaded a 50-to-1 bet on Auburn to win the NCAA men's basketball title for $6,750 despite the fact he/she was two Tigers wins away from profiting 50 grand. Anyway, here's the ticket in question:
As you can see, some brave soul plunked $1,500 on Texas Tech, a program which had never even reached the Final Four before, to win it all at 200-to-1 odds before the season started in November. Pretty impressive. And before you say, "Well, can't he just hedge his bet this weekend?", yes, he can, but it's trickier than you think to ensure a really big profit.
Essentially you'd be betting $65,000 on Texas Tech at about 5-to-1 odds, while Sportsbook.com currently lists the Red Raiders at 4-to-1 to win the title. So you're getting slightly better odds, but we're guessing not good enough for anyone to make the purchase.
My opinion? If you've come this far with the Red Raiders, why not stick to your, um, guns? I'd definitely just let it ride*.
(*Kidding! I'd hedge so fast your head would spin.)
UPDATE: Apparently, there are some serious bidders, including Dez Bryant. Yep, that Dez Bryant. The former NFL All-Pro wide receiver has bid 50K!
The Oklahoma State product and Texas native has been pulling for the Red Raiders all tournament. But still, that's pretty wild. . .