PropSwap golden opportunity for Knights bettors to cash in early

Willy Wonka has nothing on Las Vegas sports books when it comes to selling Golden tickets.
Thirteen wagers were placed at 500-1 odds on the Golden Knights to win the Stanley Cup in the Westgate sports book during the preseason. 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 magically transformed into virtual Golden tickets by arguably the best expansion team in gaming 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 vegas, PropSwap, has offered 20 Knights stakes and contains five futures tickets for sale, such as a $400 bet at 300-1 odds that pays $120,000. That ticket is available for $40,000.
“Just like StubHub does for Golden Knights tickets, we do for Golden Knights bets,” explained Ian Epstein, who founded PropSwap with Luke Pergande. “We are a broker. You will find people with sports bets that want to sell, and we head out and find buyers for that.”
PropSwap, which takes 10% of the sale price, also has a $300 ticket on the Knights at 100-1 likelihood that pays $30,000 available for $13,500.
In both circumstances, the vendor is willing to take less than the purchase price, considering that the Knights are now the 3-1 second choice to win the NHL title.
“These are available for bidding,” Epstein said. “We can negotiate.”
There has been — a wager to win $25,000 — A ticket marketed for $550 at November PropSwap. The buyer put it back 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 available, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you bet that a 500-1 ticket and sold it today, you would make 125 times your money,” Pergande explained. “When is the last time you have hit a 125-1 long haul?”
Other earnings of Knights tickets comprised a $70 bet 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 at 100-1 chances to win $10,000 recently sold for $1,750, and a $10 ticket in 150-1 chances to win $1,500 sold for $660 on Monday.
“My advice to Knights fans would be to sell your ticket, then lock in a gain and enjoy the rest of the Stanley Cup playoffs,” Epstein said. “No one ever went broke taking a profit.”
Pergande stated many Knights backers have resisted selling their own tickets lest they be considered less than a true fan.
“It doesn’t make you any less of a fan if you market your wager,” he explained. “You’re still rooting for the Knights. You simply like money.”
In January, PropSwap sold for $3,450 per month 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 ultimately turned into a profit of $6,550.
The Knights continue to fuel that a seller’s market, since they’ve yet to track in a playoff series. But Epstein warns that they’ll be underdogs from the Western Conference Final and will not possess home-ice advantage.
“These guys who have Knights stakes have never had their backs against the wall,” he said. “They believe this roller coaster is going to keep moving up and up and it is never going to stop. … We are trying to put money in your pocket”
William Hill would lose more than $1 million if a Knights hoist the Cup, and Wynn Las Vegas sports book manager Johnny Avello quotes the nation’s sports books would lose $5 million to $10 million.
More gambling: Follow all of our sports betting coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact reporter Todd Dewey in tdewey@reviewjournal.com. Follow.

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