PropSwap golden opportunity for Knights bettors to cash in early

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    Willy Wonka has nothing on vegas sports books when it comes to selling Golden tickets.
    Thirteen wagers were placed at 500-1 chances on the Golden Knights to win the Stanley Cup at the Westgate sports publication. William Hill sports publication took 350 futures on the Knights in 100-1 or greater.
    Those long-shot wagers and would-be memorabilia abruptly have been transformed into virtual Golden tickets by arguably the greatest expansion team in sports history.
    The Knights are eight successes from winning the Stanley Cup, but their backers can lock in a healthy gain now by selling their stocks stakes on PropSwap.com.
    A startup secondary market for busy sports wagers at Las Vegas, PropSwap, has offered 20 Knights stakes and contains five futures tickets available, including a $400 wager at 300-1 odds that pays $120,000. That ticket is on sale for $40,000.
    “Just 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. There are individuals with sports stakes that are looking to sell, and we go out and find buyers for that.”
    PropSwap, which takes 10% of the sale price, also has a $300 ticket to the Knights in 100-1 likelihood that pays $30,000 on sale for $13,500.
    In both cases, the seller is willing to accept less than the sale price, considering the Knights are currently the 3-1 second choice to acquire the NHL title.
    “These are available for bidding,” Epstein said. “We can negotiate.”
    A 500-1 ticket — a $50 bet to win $25,000 — has been sold for $550 in November PropSwap. The purchaser put it up for sale 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 corporation’s database but isn’t for sale, either.
    SHORT DESCRIPTION (Las Vegas Review-Journal)
    “If you gamble that a 500-1 ticket and sold it now, you would make 125 times your money,” Pergande explained. “When is the last time you have struck a 125-1 long shot?”
    Other sales of Knights tickets comprised a $70 bet at 200-1 odds to win $14,000 that sold for $250 in November. The identical ticket has been sold for $1,400 in March.
    A $100 ticket at 100-1 odds to win $10,000 recently sold for $1,750, and also a $10 ticket in 150-1 chances to win $1,500 sold for $660 on Monday.
    “My guidance to Knights fans is to sell your ticket, lock in a profit and revel in the remainder of the Stanley Cup playoffs,” Epstein said. “nobody ever went broke taking a profit.”
    Pergande stated many Knights backers have resisted selling their tickets pretending they’re considered less than a true fan.
    “It will not make you any less of a fan if you sell your bet,” he said. “You are still rooting for the Knights. You simply like money.”
    In January, PropSwap sold for $3,450 a bettor’s $50 ticket at 200-1 chances to win $10,000 on the Knights winning the Pacific Division. The seller created more than $3,000, and the buyer finally turned into a profit of $6,550.
    The Knights continue to fuel a seller’s market, since they’ve yet to track in a playoff series. But Epstein warns that they’ll be underdogs in the Western Conference Final and won’t have home-ice advantage.
    “These men who have Knights bets have never had their backs against the walls,” he explained. “They think this roller coaster will keep moving up and up and it is not likely 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 director Johnny Avello quotes the nation’s sports books would lose $5 million to $10 million.
    More betting: Follow all our sport betting coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
    Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow.

    Read more: ufc205ppv.com

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