Sports Bettor places Massive Wager, Stands to Win Very Little
Any time you gamble, it is always a risk. Players have to weigh up the risk and reward to decide if it is worth it. A sports bettor in Las Vegas recently placed a $50 000 wager on the upcoming Western Conference NBA Playoffs Semi-finals. The wager was placed on the Golden State Warriors to win their game against the Utah Jazz and, if the gambler’s team wins, you’d imagine they’d be celebrating with a huge payout.
Sports Bettor puts $50 000 on the line
You’d think that with a $50 000 bet on the line, any payout would be quite spectacular. It turns out that if the sports bettors wager pays off and the Golden State Warriors win their game, they will win just $500. This is because the Golden State Warriors are the favorites to win their semi-final game. In fact, the team is almost a sure thing to win the game.
As a result, the Westgate SuperBook took the $50 000 wager from the sports bettor on odds of -10000. This is vastly different from the odds of the Utah Jazz winning which are sitting at +2000. Should someone make a similar bet on the Utah Jazz and they manage to win, the wager would win the sports bettor $1 million.
A Lot of Money for Little Reward
While the Golden State Warriors may be the complete favorites to win, putting $50 000 on the line with some a small win is still a risk that doesn’t seem worth taking. While the Utah jazz are definitely the underdog and winning seems extremely unlikely, strange things have happened. There is always a chance that they’ll somehow manage to win. No matter how certain the Warriors are to win, we just don’t think that wagering $50 000, when you only stand to win $500, is worth the risk, no matter how small it is. Read our sports betting page for more about betting on your favourite teams.