Earlier this week on “Lock It In” we featured the story of a gambler who had put $8k on the Saints at 20-1 to win the Super Bowl and was seeking to sell his ticket through PropSwap.com, a company that allows you to sell your gambling tickets before the event has been realized if there’s value in the bet you’ve placed.
While we were on the air Sal, Todd, and I all said we’d buy the ticket for the right price. (That is, a price better than the existing gambling market price.) After that conversation we all decided to contact the gambler selling the ticket on propswap to see if we could reach a deal to buy it. By the way, I love the idea for propswap — let gamblers treat their sports futures bets as stocks, which increase or decrease in value throughout the season based on the results. Instead of having to hold a ticket for the entire year, you can lock in a profit by selling the ticket if the chances of your future bet hitting look good.)
The Saints ticket Sal and I have bought will pay $168k if the Saints win the Super Bowl and we have paid just shy of $60k for the ticket.
You can see us talking about the betting ticket on “Lock It In” Thursday.
— Lock It In (@LockItInonFS1) January 18, 2019
We split the $60k between us. If the Saints beat the Rams tomorrow we could hedge and make a decent amount of money by taking the other team on the moneyline in the Super Bowl. (Or we could do nothing and each have $84k on the Saints against whichever team they play in the Super Bowl).
But if the Saints lose tomorrow, we’ll each lose $30k.
So, yeah, this should be fun.
I’ve never been a bigger Saints fan in my life.
By the way, initially Todd Fuhrman was going to go in on the bet with us as well, but he backed out at the last minute and THEN BET AGAINST US ON THE TV SHOW YESTERDAY.
The real moral of the story is this — Fuhrman has no soul.
So, get rich, kids!
Here we go.
(P.S. Don’t tell my wife about this. Thanks.)