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For one BetMGM Sportsbook player, the stakes were incredibly high in the Monday Night Football showdown between the Detroit Lions and the Green Bay Packers, especially if they happened to be a devoted Lions fan.
Had the Lions managed to achieve the significant upset, despite being underdogs by double digits, the bettor would have been able to transform a $25, 16-team NFL moneyline parlay into an astounding payout of $726,959.
Initially, there was a glimmer of hope as the game progressed. However, the Lions’ slim 3-point lead at halftime was quickly obliterated by a commanding 21-0 run from the Packers after the break, resulting in a resounding 35-17 victory for Green Bay.
There won’t be any extensive Cinderella score.
Nevertheless, an update from the sportsbook on Wednesday revealed that despite the game’s outcome, the player’s prior agreement with BetMGM led to a substantial payout of $133k for the player.
Here are 7 highlights and amusing anecdotes from the ESPN2 Monday Night Football ‘ManningCast’ featuring Peyton and Eli.
First 15 NFL parlay legs hit for BetMGM player
Up until Monday night, the player successfully hit all 15 legs in the NFL’s Week 2. However, the number of unsuccessful bets they made and lost remains unknown.
These were the values the player locked in for this (almost) winning ticket.
- The odds for Washington are -175.
- The odds for Bears winning are -130.
- The Browns are favored at -650.
- The Rams have odds of -190.
- The Bills have odds of -175.
- The Patriots are favored with odds of -250.
- The San Francisco 49ers’ odds are -160.
- The Raiders are listed at odds of +190.
- The Panthers have odds of +150.
- The Broncos are favored with odds of -275.
- The Cardinals have odds of -190.
- The Buccaneers have odds of -650.
- The Cowboys are listed at +135 odds.
- The Titans have a +190 odds.
- The Ravens have odds of +180.
The Lions, who were initially favored at +400 to win, ended up being the most surprising upset on the betting ticket. Out of all the teams, the Titans and Raiders, listed at +190, were the next closest underdogs to succeed for the bettor over the weekend.
If you were curious about the specific payout for this customized bet, the odds set on the parlay are approximately +2900000.
More Michigan sports betting coverage
- Top Monday Night Football deals: The ultimate promotions for tonight’s thrilling Lions-Packers matchup
- Why Aaron Rodgers may not be as reliable of a spread betting option against Detroit as it may seem.
- Over the course of the past two decades, what potential earnings could you have garnered by consistently betting against the Lions?
- The opening odds for the Lions-Ravens game indicate that Detroit is once again an underdog by more than a touchdown.
- The latest data on live spreads and odds for every NFL game is now available.
When is cashing out an option on parlays?
BetMGM, similar to other sports betting operators in Michigan, provides the opportunity to cash out potentially winning bets. This feature proves particularly beneficial for parlays where certain legs have already succeeded, but uncertainty lingers regarding the remaining legs.
The precise circumstances of the BetMGM bettor’s situation ahead of Monday’s game are still unknown. However, Andrew Doughty, a content creator for BetMGM, offered a clue through a Twitter poll.
He inquired with his followers whether the individual should opt for a cash withdrawal of approximately $145,000 on such a parlay, and over 90% of them leaned towards the “sure thing” option, if it were available.
However, as of 11 p.m. on Monday, BetMGM has not confirmed the scenario or location information regarding the free bet originating from Michigan, which would make sense considering the involvement of the Lions in this parlay.
If that were true, it is important to note that early cash outs are not applicable to free bets, so there might have been various factors involved in this situation.
Doughty tweeted afterwards that if he had bet on the Packers money line for this game, the payout for the 16-leg parlay would have been approximately $169,000.
Hedging your bets: A good lesson
While we don’t offer explicit advice, players who stand a good chance of winning significant parlays often have the opportunity to contemplate a solid hedge strategy before reaching the last stages.
Earlier this season, a player from Michigan made a significant impact in the sports betting world by winning nearly $80,000 through a parlay bet on 14 college football unders.
Given that the majority of the difficult work was already completed with this 16-leg ticket, it would have been disappointing to not secure any winnings in the event that the Lions are unable to cause an upset.
In this scenario, the bettor had the opportunity to secure guaranteed winnings (although it may reduce the potential huge payout if the Lions surprisingly win) by hedging their bet and placing an additional wager on the Packers to win.
In any of these situations, it is important to consider the slim possibility of a tie.
Clearly, placing a wager on the Packers to emerge victorious would have resulted in unfavorable odds (for instance, Green Bay was -650 at BetMGM by midday Monday), necessitating a significant bet for a small potential win. Additionally, the majority of ordinary individuals do not have such substantial funds readily available.
However, it is certain that this player was engaged in extensive mathematical calculations and risk management strategies on Monday, in an attempt to determine the most optimal course of action.
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