A New Jersey man took the sportsbook PointsBet to the cleaners this past week, winning $600,000 on a hefty $30,000 bet on the Baltimore Ravens this past weekend.
The man put a bet on the Baltimore Ravens to beat the Miami Dolphins, putting down the large sum due to his confidence. The PointsBet service had a promotion going on called "PointsBetting", which allows gamblers to risk more based on how much they think the score will deviate from the spread. At the time of the contest the Dolphins were a 7 point favorite, but they the ended stomping the Fins 59-10, creating a huge win for the gambler.
The gambler had to front the max amount that he could win, so he put in $600,000 in cash, but ended up winning that same amount on the 49 point victory.
While it is a lucrative proposition, the style of bet that was laid down certainly isn't for the faint of heart. Speaking about the service PointsBet CEO Johnny Aitken said, "[PointsBetting] does appeal to a sort of different type of client. A person where it's not just about being right, but being really right, and being willing to ride out the upside and downside as well, which this product has."