{"id":110921,"date":"2019-08-02T05:00:17","date_gmt":"2019-08-02T12:00:17","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=110921"},"modified":"2019-08-02T14:32:21","modified_gmt":"2019-08-02T21:32:21","slug":"philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/","title":{"rendered":"Philadelphia 76ers Backer Puts Down Six Digits to Win Four Figures"},"content":{"rendered":"

A well-heeled sports bettor laid $100,500 at the Westgate Las Vegas Superbook<\/a> earlier this week on the Philadelphia 76ers to make the 2020 NBA Playoffs at odds of -5000. The gambler will net a modest $2,010 on that investment if the Sixers do, as many expect, make the postseason.<\/p>\n

\"\"
Sixers star Joel Embiid. At least one bettor hopes the center is healthy this year. (Image: SI.com)<\/figcaption><\/figure>\n

For those new to sports wagering<\/a>, -5000 implies a high chance of the predicted outcome and a bettor would need to put down $5,000 just to win $100.<\/p>\n

Data indicates odds are actually increasing that Philly will be in the postseason. On Tuesday, Caesars Sportsbook had the team at -4000 to make the playoffs, with only the Milwaukee Bucks at -5000 having a higher postseason probability.<\/p>\n

76ers to make the playoffs yes -5000 … just took 100,500 to win 2,010,\u201d said SuperBook Vice President of Risk Management Jeff Sherman on Twitter.<\/p><\/blockquote>\n

Expectations are high for the Sixers entering the 2019-20 NBA season, indicating value on relevant futures bets on the team may be hard to come by at the moment. The team is -111 to win the Atlantic Division and +400 to win the Eastern Conference. The only Eastern team with shorter odds of winning its division and the conference is Milwaukee, at -455 and +225, respectively.<\/strong><\/p>\n

Risk\/Reward<\/b><\/h2>\n

Smart sports bettors<\/a>, regardless of the amounts they lay, know that assessing risk and reward is integral to long-term success in the endeavor. In the case of the Sixers backer, the risk is $100,500 and the potential reward is $2,010.<\/p>\n

But there’s more to it. Because the gambler made a futures wager, his capital – the $100,500 – is now property of the SuperBook until the 2020 NBA playoffs start. That doesn’t happen until next April, meaning the bettor’s money is tied up for nine months.<\/p>\n

\n

There are a slew of potentially more rewarding and less risky ways of earning 2 percent on one’s money over nine months that do not require being without the capital for that time. The ICE US Treasury 20+ Year Bond Index, a basket of US Treasuries with maturities of 20 years and more, is considered by many to be one of least risky investments in the world, and would likely pay 2 percent over the next nine months.<\/span><\/p>\n<\/div>\n

The long-term average monthly return for the S&P 500<\/a> is 0.92 percent, and that would compound if dividends are reinvested and the capital is not withdrawn.<\/p>\n

Did It Again<\/b><\/h2>\n

Apparently the bettor backing the Philadelphia 76ers likes wagers that look like sure things. A day after that wager was made, the same gambler laid $10,000 at the Westgate Las Vegas Superbook<\/a> on the Milwaukee Bucks to make the playoffs for a payout of a paltry $100.<\/p>\n

As is the case with the Sixers wager, the cash used for the Bucks bet will be tied up for nine months, but in this instance to make a mere one percent.<\/p>\n

According to the odds released by Caesars Tuesday, six other NBA teams have odds of -1000 or higher to make the postseason in addition Milwaukee and Philadelphia.<\/p>\n

Bets such as those laid by the aforementioned gambler this week at Westgate Las Vegas Superbook are not uncommon. Last year, at the same sportsbook, a bettor plunked down $67,000 before the NBA season on the Golden State Warriors to be in the postseason at -10000 for winnings of $670.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A well-heeled sports bettor laid $100,500 at the Westgate Las Vegas Superbook earlier this week on the Philadelphia 76ers to make the 2020 NBA Playoffs at odds of -5000. The gambler will net a modest $2,010 on that investment if the Sixers do, as many expect, make the postseason. For those new to sports wagering, […]<\/p>\n","protected":false},"author":46,"featured_media":110925,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,1074],"tags":[],"acf":[],"yoast_head":"\nPhiladelphia 76ers Bettor Put Down A Big Bet For a Small Reward<\/title>\n<meta name=\"description\" content=\"A sports bettor backing the Philadelphia 76ers put down a massive bet on the team making the playoffs for a small payout.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philadelphia 76ers Bettor Put Down A Big Bet For a Small Reward\" \/>\n<meta property=\"og:description\" content=\"A sports bettor backing the Philadelphia 76ers put down a massive bet on the team making the playoffs for a small payout.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-02T12:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-02T21:32:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/JE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1300\" \/>\n\t<meta property=\"og:image:height\" content=\"724\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/\",\"url\":\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/\",\"name\":\"Philadelphia 76ers Bettor Put Down A Big Bet For a Small Reward\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/JE.jpg\",\"datePublished\":\"2019-08-02T12:00:17+00:00\",\"dateModified\":\"2019-08-02T21:32:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"A sports bettor backing the Philadelphia 76ers put down a massive bet on the team making the playoffs for a small payout.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/philadelphia-76ers-bettor-put-down-a-big-bet-for-a-small-reward\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/JE.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/08\/JE.jpg\",\"width\":1300,\"height\":724,\"caption\":\"Sixers star Joel Embiid. 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