Crazy Gambling story

[ga_ben]

So I'm listening to 790 The Zone (Atlanta sportstalk radio) today while driving around working. Maybe some of you Atlanta guys heard this story as well. One of the hosts of this show, Jeff Woolverton, has a friend who is somewhat of a high roller. He was in Vegas over the summer and saw a prop bet at a sportsbook in of the casinos. They never said which casino. The bet- 2000- 1 odds on the Patriots going 19-0 this past year. This guy, who apparently has oodles of discretionary money, and is a huge Patriots fan, put down 3K on this. Fast forward to the week before the Super Bowl. Apparently the casino calls the guy and wants to buy him out at $4 million. He stood to win $ 6 million w/ a Patriots victory in the Superbo (oops ,sorry, the big game). He basically tells them to stuff it. He basically loses 4 million. IF this story is true and I have no reason to doubt it isn't then that particular casino must've been shitting bricks when the Patriots went up late. Almost stuck it to the man. Almost.

They took a lot of calls on the story later in the show and some folks wondered why this guy didn't put a crapload on the Giants ML. Some callers didn't believe the story at all. Anyway interesting story. 18-1 cha cha. Sorry if this has rambled, I've been up for about 36 hours w/ only 3 hours sleep.

 

[Blitz]

The Giants Cheated!

 

[yyz]

I'm calling bullshit.

No casino, in this day and age, would take on that risk.

Plus, I don't think a casino can "buy out" of a ticket.........I don't know this for fact, but I'm guessing the Gaming Commission might have something to say about that.

 

[McVegas]

I'm calling bullshit.

No casino, in this day and age, would take on that risk.

Plus, I don't think a casino can "buy out" of a ticket.........I don't know this for fact, but I'm guessing the Gaming Commission might have something to say about that.

I agree, I would think that a casino would not be allowed to "buy out" of a ticket.....

 

[Beebs]

what kind of dildo would not hedge that bet with a Giants ML:shrug:

 

[BleedDodgerBlue]

I'm calling bullshit.

No casino, in this day and age, would take on that risk.

Plus, I don't think a casino can "buy out" of a ticket.........I don't know this for fact, but I'm guessing the Gaming Commission might have something to say about that.

I don't believe the story at all first off. Not saying anything about the original poster, I'm not doubting at all that some idiots were talking about it on a sports radio show.

The odds of 2000-1 are ridiculous. I can see maybe 200-1, but no book no where is laying these odds with a team that was favored to win the superbowl from the jump. Theres no chance a book put this line out or took it.

As for buying out a bet, theres no reason a book can't. Unless this guy was a regular in some casino, I have no idea how they got his name to call him, so I really really doubt the story. The Gaming commission probably wouldn't get involved because you aren't talking about a valid ticket. It hasn't cashed yet and is still pending. Maybe you are right yyz, but I don't see any reason why they can't offer a guy 4 million bucks for a bet he hasn't won yet....why not? If it was after the fact and the pats won, then of course not....but seems to reason a casino can offer a guy money on a pending ticket.

gl

 

[william13]

we are just now hearing this and the guy works for a sportstalk radio :shrug:

 

[yyz]

BDB, I'm just guessing that a casino sportsbook cannot offer into private deals like that. Again......I'm just guessing.

I mean, I don't think they can put a number on the board, and Mr X comes in and they let him have the game at 10 points better. You know? Kind of a collusion type area? Again, just speculating.

What if I am a "friend" of the book, and I put down $10,000 a night on a game. At the three quarter mark of the game every night, the manager offers to "buy back" my wager for $15,000. You see how that could become an issue for the Gaming Commission?

 

[zoomer]

what kind of dildo would not hedge that bet with a Giants ML:shrug:

To successfully do that, he needs to bet at least a million at the +375 that was hung up there. That's if he could somehow come up with 1 million.


Accepting the $4 mil. offer would have been the same as hedging on the ML but without needing to come up with $1 million cash.

 

[ImFeklhr]

If you had taken $3000, and bet the Patriots ML for every game, and kept rolling the winnings over. You would hit $6million in 19 games.

That is... if the average ML was about -205. I have no idea what the average ML was for the Patriots over the season. So the 2000-1 odds wasn't completely unreasonable, mathmatically, but I definitely can't see a book offering that.

Now, if the ML average was more like -300, then obviously you wouldnt get nearly as close to 6 million. In fact, you would get, about 10 times less or around $600k.

Anyone know what the average ML was for the Patiots last year?

 

[smurphy]

Vegas sportsbooks are barely willing to offer 100-1 on anything anymore - and even at that they usually have maximums to keep from getting beat too bad.

No way the story is true.

 

[IX_Bender]

Much higher than -205 and Id say upwards of -300/g avg.

Then again, I dont bet moneyline favorites.

 

[ImFeklhr]

Much higher than -205 and Id say upwards of -300/g avg.

Then again, I dont bet moneyline favorites.

I'd have to agree, because I'm sure there were a few games where that were -500 or higher.

I was just saying the only way the bet could match the 2000-1 odds is if was around -205 (or more accurately, like -202.9).

Not that you can ever truly matchback futures bets in this way.

Food fer thought.

 

[Jinxbreaker]

In 2004 A guy in vegas bet $100,000 on the Red Sox when they were down 3-0 to the yankees. They tried to buy the bet back and when it was 3-3 they offered 2.7 million and i think he ended up w/7 million. I had three friends go out to VEGAS LAST SUMMER to put $20 on them going 19-0 and niether could find the bet. I figured it to be 200-1 and win 4K but i was just guessing. Wow 2000-1 I'm glad i didn't get that bet in after all!!

 

[Dr. Fade]

The guy must have made the bet w/ USA Today's own Danny Sherridan :mj07: . I think he had George Mason @ 1,000,000 to 1 to win the NCAA the year they made the Final 4. That may have created some hedging liabilities had ol' Danny Boy had any relevant stake on his "odds."

No place in Vegas is posting 2000-1 odds. Check out 08' odds to win World Series.

 

[MadJack]

Check out 08' odds to win World Series

the odds of red sox going 162-0 :shrug:

 

[smurphy]

I had three friends go out to VEGAS LAST SUMMER to put $20 on them going 19-0 and niether could find the bet.

exactly. i dont think this bet even existed. if it did, it was for something probably only in the 100-1 range. no reason at all that a book would offer a crazy number like 2000-1. i've never seen any number remotely close to that for any kind of sports bet in vegas for 10 years.

if the bet was made, it was with a crazy online book.

 

[ga_ben]

I emailed the show host to see if there is anyway to validate his friend's story.

 

[parlayinn]

that should work