New Jersey Man Wins $600,000 on NFL Bet

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."

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usbarbadosslim93
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17 September 2019 - 4:56pm
#1

Imagine having the amount of dough to put up a $600,000 front for a bet. Crazy stuff.

sharpe

auCL-Ed
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18 September 2019 - 1:10am
#2

I'm not sure I understand how it was a $30,000 bet if he had to put up $600,000 in collateral. Can you explain that to me slim?

sharpe

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usbarbadosslim93
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18 September 2019 - 12:53pm
#3

Yeah, I was confused by that too. I think they have a calculator on the site, which you can find here.

Looking at the slider there may be more to the story than initially reported. It looks really strange, and they certainly shifted that $30,000 max bet to $10,000.

Per ESPN: "The largest spread bet PointsBet has ever taken was placed last week on the Baltimore Ravens-Miami Dolphins game. On Sept. 1, a VIP client for PointsBet deposited $600,000 up front and placed a $30,000 spread bet on the Ravens -6. The bettor chose a maximum win/loss of 20 times his original stake."

sharpe

auCL-Ed
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18 September 2019 - 11:39pm
#4

Ah ok I think I get it. The amount he wins or loses is variable depending on the margin of victory or loss. So he was risking anywhere from $30k up to $600k and he could have lost all of it if the result had gone the other way.

I have to say I am always dubious when I see this kind of story from little known bookies. An almost impossibly huge winner is a great way to get a lot of publicity. I'd love to see some verifiable proof that this actually occurred...

sharpe

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bgsharpe
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20 September 2019 - 1:44pm
#5

I was confused about it as well but think I get that too after your explanations guys.

From my understanding he would of lost everything if the Ravens have been won by 5 or less or any other outcome (a tie or a Dolphins win)

Let's assume the whole story is true and this player does really exist...it's still a great risk(unless 600k are a pocket money for the guy/girl) cause his suggestions are entirely based on the preseason results (and that's often quite misleading) and both teams had a decent preseason results (no clue there Dolphins will be that poor I think) so it's a bit weird for me that this punter have been so sure about it...but maybe he knew something we didn't...or he/she's just a Ravens or a Dolphins fan.

Anyway that looks like a genius stake now but could of been quite stupid one as well cause potentially it's 600k at risk for possible a lot lesser win..

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