PropSwap golden opportunity for Knights bettors to cash in early

Willy Wonka has nothing on Las Vegas sports books when it comes to selling Golden tickets.
Thirteen wagers were placed on the Golden Knights to win the Stanley Cup in the Westgate sports publication. William Hill sports publication took 350 futures on the Knights.
Those long-shot wagers and would-be memorabilia abruptly have been magically transformed into virtual Golden tickets by arguably the best growth team in gaming history.
The Knights are eight successes from winning the Stanley Cup, but their backers can lock into a healthy profit today by selling their stocks stakes on PropSwap.com.
A startup secondary marketplace for busy sports wagers in vegas, PropSwap, has sold 20 Knights stakes and has five futures tickets for sale, including a $400 bet at 300-1 chances that pays $120,000. That ticket is on sale for $40,000.
“Just like StubHub will for Golden Knights tickets, we do for Golden Knights stakes,” said Ian Epstein, who based PropSwap with Luke Pergande. “We are a broker. You will find people with sports stakes that are looking to sell, and we go out and find buyers for this.”
PropSwap, that takes 10% of the selling price, also includes a $300 ticket to the Knights at 100-1 odds that pays $30,000 available for $13,500.
In both circumstances, the seller is prepared to accept less than the sale price, considering the Knights are currently the 3-1 second choice to win the NHL title.
“These are available for bidding,” Epstein said. “We can negotiate.”
There has been — a bet A 500-1 ticket sold on PropSwap for $550 at November. The purchaser put it back up for sale for as much as $4,400 but has since taken it off the market. Another 500-1 bet — $20 to win $10,000 — is in the company’s database but isn’t for sale, either.
SHORT DESCRIPTION (Las Vegas Review-Journal)
“If you bet that a 500-1 ticket and marketed it today, you would make 125 times your money,” Pergande explained. “When’s the last time you have hit a 125-1 long shot?”
Other earnings of Knights tickets included a $70 wager at 200-1 chances to win $14,000 that sold for $250 in November. The ticket was sold again for $1,400 in March.
A $100 ticket in 100-1 odds to win $10,000 recently sold for $1,750, and a $10 ticket at 150-1 chances to win $1,500 sold for $660 on Monday.
“My guidance to Knights fans is to sell your ticket, lock in a gain and enjoy the remainder of the Stanley Cup playoffs,” Epstein said. “No one ever went broke taking a profit.”
Pergande said many Knights backers have resisted selling their tickets lest they be considered less than a true fan.
“It will not make you any less of a fan if you sell your wager,” he said. “You are still rooting for the Knights. You simply like cash.”
In January, PropSwap sold for $3,450 per month bettor’s $50 ticket in 200-1 chances 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 profit of $6,550.
The Knights continue to fuel a seller’s market, since they’ve yet to trail in a playoff series. But Epstein warns that they will be underdogs in the Western Conference Final and won’t have home-ice advantage.
“These men who have Knights stakes have never had their backs against the walls,” he said. “They believe this roller coaster will keep moving up and up and it is never going to stop. … We’re trying to put money in your pocket”
William Hill would lose more than $1 million if a Knights hoist the Cup, and Wynn Las Vegas sports book director Johnny Avello estimates the nation’s sports books would lose $5 million to $10 million.
More gambling: Follow all our sport betting coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.
Contact writer Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on Twitter.

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