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For any devoted supporter of the Detroit Lions, the level of emotional investment in their weekly games is significant. However, the magnitude of stakes reached an extraordinary level for a BetMGM Sportsbook player during their Monday Night Football face-off against the Green Bay Packers.
Had the Lions managed to pull off the remarkable upset as double-digit underdogs, the bettor would have transformed a $25 investment in a 16-team NFL moneyline parlay into an astonishing payout of $726,959.
There was a glimmer of hope for a while, but the Lions’ 3-point lead at halftime was quickly overtaken by a 21-0 run from the Packers in the second half, resulting in a 35-17 victory for Green Bay.
There won’t be any huge Cinderella score.
Nevertheless, an update from the sportsbook on Wednesday revealed that despite this, the player managed to secure a lucrative $133k payout thanks to a pre-game agreement with BetMGM.
“Relive the Best Moments and Hilarious Anecdotes from Peyton and Eli on ESPN2’s Monday Night Football ‘ManningCast'”
First 15 NFL parlay legs hit for BetMGM player
Until Monday night, the player successfully hit all 15 legs in the NFL’s Week 2. However, it remains unknown how many unsuccessful bets they made during that time.
These were the values that the player secured for this (almost) winning ticket:
- Washington -175
- Bears -130
- Browns -650
- Rams -190
- Bills -175
- Patriots -250
- 49ers -160
- Raiders +190
- Panthers +150
- Broncos -275
- Cardinals -190
- Buccaneers -650
- Cowboys +135
- Titans +190
- Ravens +180
The Lions were the underdogs with odds of +400 for the bet, making their victory the most unexpected outcome. Compared to the Titans and Raiders, who had odds of +190, the Lions’ win was a significantly bigger upset.
If you were curious about the specific payout, the parlay is offering odds of approximately +2900000.
More Michigan sports betting coverage
- Specials for Monday Night Football: The top promotions for tonight’s Lions-Packers matchup.
- There are reasons why Aaron Rodgers may not be as reliable in spread betting against Detroit as initially assumed.
- What would be the potential earnings if you had consistently bet against the Lions over the last two decades?
- The opening odds for the Lions-Ravens game show that Detroit is once again an underdog by more than a touchdown.
- Newly available data showcasing current real-time spreads and odds for every NFL match.
When is cashing out an option on parlays?
Similar to other sports betting operators in Michigan, BetMGM provides the opportunity to cash out bets that potentially hold winning outcomes. This feature proves particularly advantageous for parlays where some legs have already been successful, but uncertainty lingers regarding the remaining ones.
The precise circumstances that the BetMGM bettor encounters prior to Monday’s game remain unknown. However, Andrew Doughty, a content creator for BetMGM, shared a Twitter poll that offers a clue.
He inquired with his followers about whether the individual should cash out approximately $145,000 on such a parlay. More than 90% of respondents leaned towards the “sure thing” if it were available.
There is still some clarity needed regarding this matter. Multiple national media reports state that the parlay was a free bet and it originated from Michigan, which would make sense considering the involvement of the Lions. However, BetMGM has not confirmed this scenario or the location information as of 11 p.m. on Monday.
In the event that was true, it is important to note that free bets do not allow for early cash outs. Hence, there could have been numerous factors influencing the situation.
Doughty tweeted later, stating that if he had bet on the Packers money line for this game, the potential payout for his 16-leg bet would have been approximately $169,000.
Hedging your bets: A good lesson
While we do not offer direct advice, it is worth noting that players who stand a good chance of winning significant parlays often have the opportunity to contemplate a solid hedge strategy as they approach the final stages.
Earlier this season, a player from Michigan successfully cashed a parlay of nearly $80,000 by betting on 14 college football unders. This occurrence sparked a similar thought within the Michigan sports betting community.
Given that the majority of the effort was already put into this 16-leg ticket, it would have been disappointing to not win anything if the Lions fail to cause an upset.
In this scenario, the bettor had the option to secure certain winnings (although it may reduce the potential big score if the Lions unexpectedly win) by hedging and placing an additional bet on the Packers to emerge as the victors.
In any of these situations, it is important to consider the slim possibility of a tie.
It is evident that placing a bet on the Packers to win would have resulted in unfavorable odds (for instance, Green Bay was -650 at BetMGM by midday Monday). Hence, one would have to wager a significant amount of money to only win a small sum. Moreover, the majority of ordinary individuals do not possess such a substantial amount of money readily available.
However, it is a sure bet that this player was engaged in extensive mathematical computations and risk management analysis on Monday, in an attempt to determine the optimal course of action.
