PropSwap golden opportunity for Knights bettors to cash in early

Willy Wonka has nothing on Las Vegas sports books in regards to selling Golden tickets.
Thirteen wagers were put on the Golden Knights at 500-1 odds to win the Stanley Cup at the Westgate sports publication during the preseason. William Hill sports book took 350 futures bets on the Knights.
Those long-shot wagers and would-be memorabilia abruptly have been transformed into virtual Golden tickets by arguably the greatest growth team in gaming history.
The Knights still are eight victories from winning the Stanley Cup, but their backers could lock into a healthy profit now by selling their futures bets on PropSwap.com.
A startup secondary marketplace for busy sports wagers in Las Vegas, PropSwap, has sold 20 Knights stakes and has five futures tickets for sale, such as a $400 bet at 300-1 chances 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 stakes that want to market, and we head out and locate buyers for that."
PropSwap, that takes 10% of the sale price, also has a $300 ticket on the Knights in 100-1 likelihood that pays $30,000 available for $13,500.
In both circumstances, the seller is prepared to accept less than the purchase price, considering that the Knights are currently the 3-1 second choice to win the NHL title.
"These are open for bidding," Epstein said. "We can negotiate."
There was -- a wager to win $25,000 -- A 500-1 ticket marketed for $550 at November PropSwap. The purchaser put it up available 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 is not available, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
"If you gamble a 500-1 ticket and sold it today, you would make 125 times your cash," Pergande said. "When is the last time you've struck a 125-1 long haul?"
Other earnings of Knights tickets comprised a $70 wager at 200-1 chances 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 currently sold for $1,750, and a $10 ticket at 150-1 odds to win $1,500 sold for $660 on Monday.
"My guidance to Knights fans would be to sell your ticket, then lock in a gain 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 own tickets pretending they're considered less than a true fan.
"It will not make you any less of a fan if you market your bet," he explained. "You're still rooting for the Knights. You just like cash."
In January, PropSwap sold for $3,450 per month bettor's $50 ticket in 200-1 odds to win $10,000 about the Knights winning the Pacific Division. The seller made more than $3,000, and also the purchaser ultimately turned a gain of $6,550.
The Knights continue to fuel that a seller's market, since they have yet to trail in a playoff series. But Epstein warns that they will be underdogs from the Western Conference Final and will not have home-ice advantage.
"These men who have Knights bets have never had their backs against the wall," he explained. "They believe this roller coaster will keep going up and up and it's never going to stop. ... We're trying to put cash in your pocket"
William Hill would shed more than $1 million if the Knights hoist the Cup, and Wynn Las Vegas sports book manager Johnny Avello estimates the nation's sports books would lose $5 million to $10 million.
More betting: Follow all of our sports gambling coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact reporter Todd Dewey at [email protected]. Follow.

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