Gambler Places $75K Bet On Alabama vs. MTSU Opener For Ridiculously Small Return

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BleedGopher

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Per Jacob:

We have our first HUGE bet of the college football season, though it comes with a minimal return. A gambler placed $75,000 on the Alabama vs MTSU opener that would pay out just $300.

brobible.com

Gambler Places $75K Bet On Alabama vs. MTSU Opener For Ridiculously Small Return

We have our first HUGE bet of the college football season, though it comes with a minimal return. A gambler placed $75,000 on the Alabama vs MTSU opener
brobible.com brobible.com

Go Gophers!!
 

Good lord. If he is willing to risk that much money for such a small potential payout imagine what else he must be betting on.....you have to have a pretty serious gambling problem to be willing to make a bet like that.

Edit - so he bet the money line and Alabama is nearly a 40 point favorite. so while all Alabama has to do is win and he gets his $300 that is still a crazy amount of money to risk for such a small potential reward. Even if you think there is no way you could possibly lose it is still a stupid risk to take because nothing is ever guaranteed in sports.
 

MNVCGUY said:
Good lord. If he is willing to risk that much money for such a small potential payout imagine what else he must be betting on.....you have to have a pretty serious gambling problem to be willing to make a bet like that.
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Yeah this story is kinda sad.

Having said that these “weird bet” stories have become pretty frequent. I wonder if someone wanted to just make a story like this happen.
 

MNVCGUY said:
.....you have to have a pretty serious gambling problem to be willing to make a bet like that.
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Granted, you wrote that comment before writing, "Edit", so maybe you don't believe it anymore, but why is the knee-jerk reaction to always assume someone has a gambling problem? It's an extremely safe bet and during a game that takes a few hours he'll earn the equivalent of having that money sit in the bank for months and months.

Last I checked you could make money betting on the Arizona Cardinals to have a losing record. Even if you don't earn much of a return, that's also an excellent bet to make.

I suppose if he bought an over-priced house everyone would be congratulating him, even though there's a good chance he'd lose money on an over-priced house.

To each their own.
 

Why don’t you give me half the money you were going to bet…
 


GopherTheJugular said:
Granted, you wrote that comment before writing, "Edit", so maybe you don't believe it anymore, but why is the knee-jerk reaction to always assume someone has a gambling problem? It's an extremely safe bet and during a game that takes a few hours he'll earn the equivalent of having that money sit in the bank for months and months.

Last I checked you could make money betting on the Arizona Cardinals to have a losing record. Even if you don't earn much of a return, that's also an excellent bet to make.

I suppose if he bought an over-priced house everyone would be congratulating him, even though there's a good chance he'd lose money on an over-priced house.

To each their own.
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If your house is a short term investment you’re doing it wrong.

In fact your whole explanation is just also bad choices….
 

A_Slab_of_Bacon said:
If your house is a short term investment you’re doing it wrong.
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Could be true, but it happens quite a bit now. It's not something I care to do, but some people can make money at it. And some will lose.

A_Slab_of_Bacon said:
In fact your whole explanation is just also bad choices….
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Care to elaborate? How is placing money on the Cards to have a losing season a bad choice? And after the game in question, this better will have an extra $300 he didn't have before. How is that a bad choice? I'll agree on the housing comment I made, that was meant to illustrate a bad choice.
 

GopherTheJugular said:
Could be true, but it happens quite a bit now. It's not something I care to do, but some people can make money at it. And some will lose.


Care to elaborate? How is placing money on the Cards to have a losing season a bad choice? And after the game in question, this better will have an extra $300 he didn't have before. How is that a bad choice? I'll agree on the housing comment I made, that was meant to illustrate a bad choice.
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I think I'll just leave you to your gambling / investment advice and wish you the best. I just hope you find better things to do with 75k than make ... $300 from it (or not at all...)
 
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GopherTheJugular said:
Granted, you wrote that comment before writing, "Edit", so maybe you don't believe it anymore, but why is the knee-jerk reaction to always assume someone has a gambling problem? It's an extremely safe bet and during a game that takes a few hours he'll earn the equivalent of having that money sit in the bank for months and months.

Last I checked you could make money betting on the Arizona Cardinals to have a losing record. Even if you don't earn much of a return, that's also an excellent bet to make.

I suppose if he bought an over-priced house everyone would be congratulating him, even though there's a good chance he'd lose money on an over-priced house.

To each their own.
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This has the feel of an UHNW individual taking a dare from a buddy with their leisure money... Given the limited number of these “sure thing” (App State?) games actually safe 4 week treasuries are paying more on an annual basis so it‘s definitely a curious way for someone with that kind of money to make a piddling. Good for a laugh, I suppose.
 



GopherTheJugular said:
Granted, you wrote that comment before writing, "Edit", so maybe you don't believe it anymore, but why is the knee-jerk reaction to always assume someone has a gambling problem? It's an extremely safe bet and during a game that takes a few hours he'll earn the equivalent of having that money sit in the bank for months and months.

Last I checked you could make money betting on the Arizona Cardinals to have a losing record. Even if you don't earn much of a return, that's also an excellent bet to make.

I suppose if he bought an over-priced house everyone would be congratulating him, even though there's a good chance he'd lose money on an over-priced house.

To each their own.
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Sorry but if you are willing to risk losing $75,000 for the chance to make $300 you have a gambling problem.

It is a dumb bet to make, even if the dude is so loaded that 75K is meaningless to him, to put it up for such a tiny return just doesn't make sense. Heck if he doesn't care about 75K than the $300 isn't even going to register as a win.

To each their own but I feel confident saying the person that placed a bet like this has a gambling problem/addiction of some kind.
 

GopherTheJugular said:
Granted, you wrote that comment before writing, "Edit", so maybe you don't believe it anymore, but why is the knee-jerk reaction to always assume someone has a gambling problem? It's an extremely safe bet and during a game that takes a few hours he'll earn the equivalent of having that money sit in the bank for months and months
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The stock market returns about 4x that rate per month on average.

My working assumption is that whoever this was needed to bet $75K to get invited to some sort of club or event and picked something they thought was safe.
 
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hello-world said:
The stock market returns about 4x that rate per month on average.
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He doesn't have to have the $$ tied up on this bet for a month to get this $300 though. He could make it in a day and still get 29 days of stock market return.
 

howeda7 said:
He doesn't have to have the $$ tied up on this bet for a month to get this $300 though. He could make it in a day and still get 29 days of stock market return.
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Is that how most sports books work? That’s not my experience.
 



hello-world said:
Is that how most sports books work? That’s not my experience.
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Some may have different rules about high dollar wagers but I seriously doubt they require it a month in advance. Most weeks, you wouldn't even know the line until a few days before.
 

howeda7 said:
Some may have different rules about high dollar wagers but I seriously doubt they require it a month in advance. Most weeks, you wouldn't even know the line until a few days before.
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I wonder too if you're a regular big money gambler, and you maybe place bets kinda frequently ... you might have different rules?

Not sure if sports betting allows that (I wouldn't be surprised if it did not allow it) but I know if you gamble enough you can effectively request your own game, even to some extent played with your own rules (within reason) and you can get that, where I can't.
 

howeda7 said:
He doesn't have to have the $$ tied up on this bet for a month to get this $300 though. He could make it in a day and still get 29 days of stock market return.
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Moving money around like that can trigger taxable events, though. Maybe they keep it in high yield savings, or bitcoin, or in a can under the shed.

Not totally risk free, either. Per a pod I heard with a local writer there are fan grumblings in AL, new wave players and old school coach, questions at QB, Tommy Rees on coach rehab tour…
 

There’s a reason next to no large money gambler does this type of bet. It isn’t worth the risk for the reward. You’d have to hit 250 of these to double your money which is less than the implied odds, which that’s really all your looking for if you do this professionally is variance In the real versus implied odds in your favor.

Maybe he just bets Bama games and that’s why the big bet here
 

LOL. The dumbass could have put the $75K in a money market fund and made about $300 in a month.

Edit add: as previously mentioned, there were probably some other special benefits that came with placing that large a bet. Otherwise, it's just dumb.
 

Panthadad2 said:
LOL. The dumbass could have put the $75K in a money market fund and made about $300 in a month.

Edit add: as previously mentioned, there were probably some other special benefits that came with placing that large a bet. Otherwise, it's just dumb.
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Casino: If you bet $1million in the past 12 months you get upgraded to super platinum whores. You're at 925k now.

Gambler: Fine...
 

Pompous Elitist said:
Moving money around like that can trigger taxable events, though. Maybe they keep it in high yield savings, or bitcoin, or in a can under the shed.

Not totally risk free, either. Per a pod I heard with a local writer there are fan grumblings in AL, new wave players and old school coach, questions at QB, Tommy Rees on coach rehab tour…
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I'm not defending the wager, I'm only pointing out that saying "he could earn X in a month on the stock market/savings account" is comparing apples to oranges. You don't normally place bets a month in advance and let the sportsbook hold your $$.
 

A_Slab_of_Bacon said:
I think I'll just leave you to your gambling / investment advice and wish you the best. I just hope you find better things to do with 75k than make ... $300 from it (or not at all...)
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Well that's a better reply (sorry about the pun lol) than most people when there's disagreement. Cheers!
 

A_Slab_of_Bacon said:
I wonder too if you're a regular big money gambler, and you maybe place bets kinda frequently ... you might have different rules?

Not sure if sports betting allows that...
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I can't say I'm an expert, but I don't think there are "set" rules like this. By set rules, I mean things like a gambler has to be 21+ etc, things that all sports books will enforce. But if one sports book wants to take in a bet like this, I don't see a governing body telling them "no".
 

howeda7 said:
You don't normally place bets a month in advance and let the sportsbook hold your $$.
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That's what I didn't think of. Why not wait and make it later. Maybe the casino was looking for some attention, so they were happy to take/promote this bet?
 

GopherTheJugular said:
That's what I didn't think of. Why not wait and make it later. Maybe the casino was looking for some attention, so they were happy to take/promote this bet?
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As for "why not wait and make it later" it's always possible the odds could go Down during that time frame. Not saying it's applicable in this situation, just saying there can be a justification for locking it in.

In my mind, I am assuming that it was Phil Mickelson that placed the wager.
 



Maybe he’s getting divorced and in the week or two has to give an accounting of his real property, portfolio and cash holdings. A pending sports bet held by a third party might be contingent or remote enough outside the disclosure obligation. Only half kidding.
 

Obviously this guy is doing this as a joke and attention.

One, he has the FU money to do this

Two, he’s doing it for national attention and not hope for an investment in return for the $300

If he wanted to make guarantee money, he could’ve place this $75,000 in a high-yield savings account that’s current running at 4.5-5.0% APY!

The game is 19 days away, $75K in a 4.5% APY high-yield saving account will earn him GUARANTEED return at 0.0397% Daily Periodic Rate which equate to $29.79 of earned interests daily. Compound that for 19 days, he would’ve gotten $566.01 in total interests.

$566 > $300

This ain’t about the money for him, he just wanted national media attention and he achieved that!
 

howeda7 said:
He doesn't have to have the $$ tied up on this bet for a month to get this $300 though. He could make it in a day and still get 29 days of stock market return.
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My guess is that someone rolling that deep does not have to give the casino the actual cash. There are tons of gamblers who just have credit to make whatever bet they want (even just to a table and ask them to bring over chips).
 


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