Benzinga - by Chris Katje, Benzinga Staff Writer.
When the Kansas City Chiefs defeated the San Francisco 49ers to at Super Bowl LVIII, one bettor was two steps closer to hitting a massive payout.
What Happened: Betting on teams to win championships and combining them into parlays with massive payouts continues to be a growing portion of the world of sports betting.
One bettor at Caesars Entertainment (NASDAQ:CZR) placed a seven-leg parlay combining the outcomes of several sports. Here are the legs of the bet and the odds at the time the bet was placed.
- Connecticut winning NCAA Women's Basketball Tournament: +500
- Denver Nuggets winning 2023 NBA Championship: -410
- Las Vegas Golden Knights winning 2023 NHL (Stanley Cup) Championship: -125
- Duke winning NCAA Men's Basketball Tournament: +1,200
- Kansas City Chiefs winning 2023 AFC Championship: +350
- San Francisco 49ers winning 2023 NFC Championship: +320
- Texas Rangers winning 2023 MLB (World Series) Championship: +2,500
Five of the seven legs of the bet have hit, including the massive +2,500 odds of the Rangers, one of the biggest longshots to win the World Series in recent years. Based on the odds of the Nuggets and Golden Knights, the bet was likely placed in June 2023 when both teams were nearing championships.
Related Link: Three-Peat? Super Bowl LIX Odds, Kansas City Chiefs Back-To-Back-To-Back Payout
What's Next: The two remaining legs of the parlay could be among the toughest the bettor faces.
After betting with odds of +500 for Connecticut to win the Women's NCAA Basketball Championship, the team is now listed with odds of +1,200 on DraftKings Inc (NASDAQ:DKNG). The team has the fourth-best odds.
Connecticut is currently ranked 15th in the women's basketball Top 25 rankings with a 20-5 record on the season.
Duke similarly has seen their odds to win the NCAA Men's Basketball Championship get worse. The team is listed with odds of +2,800 at DraftKings, which is the 13th-best odds among teams.
Duke is ranked ninth in the men's basketball Top 25 rankings and has a 19-5 record on the season.
The bettor will be eagerly awaiting the end of the NCAA basketball seasons and the start of March Madness to see if the teams bet on can win titles. The bettor may also consider cashing out the bet if available, listing the bet on an exchange like PropSwap or hedging the bet by wagering on other outcomes to offset the bet.
Read Next: DraftKings Q3 Earnings Highlights: Shares Climb On Revenue, EPS Beat; Company Raises 2023 Guidance, Provides Initial 2024 Guidance
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.