Some lucky (or brilliant) sports bettor picked Texas Tech to win the NCAA tournament in November, and now you can buy their ticket that could net $300,000 if the Red Raiders hoist the trophy Monday night.
And, for the low low cost equivalent to 73 Epic passes, it could be yours.
According to ticket exchange PropSwap, an unidentified bettor put $1,500 on Texas Tech – which reached the Elite 8 in 2018 – to win the 2019 national title. At 200/1 odds, a win would be worth $300,000.
“It’s one of the best sports bets I’ve ever seen,” PropSwap co-founder Luke Pergande told the Philadelphia Inquirer.
But with the Red Raiders just two wins away from the first title in program history, that bettor is entertaining the idea of cashing out. The ticket is listed for sale on PropSwap for $65,000.
A sale at that price point be a sevenfold increase over the ticket exchange’s reported previous college basketball record.
According to ESPN’s Darren Rovell, a different bettor who put $250 on Texas Tech to win the title sold that ticket – with the potential to earn $50,000 – for $8,750.
JUST IN: This Texas Tech to win title ticket, purchased for $250 to net $50,000, was just sold by the bettor for $8,750 on @PropSwap, the company’s largest March Madness sale ever. pic.twitter.com/FbjHeot4ys— Darren Rovell (@darrenrovell) March 31, 2019
So, what would you do?
For the seller, $65,000 is more than 43 times the initial investment – any bettor’s dream. For a prospective buyer (at least one looking to come away with $300,000), $65,000 is technically a bargain. Texas Tech now carries 4/1 odds to win the title, which means you’d have to bet $75,000 to win that amount.
The Red Raiders are 2.5-point underdogs in Saturday’s semifinal matchup against Michigan State. If they were to win Saturday, they’d face the winner of Virginia and Auburn for the national title.
For those saying the owner of this ticket should just “hedge” by betting the other side. This is how much they would need to bet to profit $60K:— PropSwap (@PropSwap) April 3, 2019
- $93K on Michigan St. ML -155
Then, if Texas Tech wins:
- $260K on Virginia ML -170
And if TTU wins that game, now you’ve lost $50K! pic.twitter.com/gPf1IHXOE2