Gambler in Louisiana Brings in $575K Parlay on $50 Bet

Caesars Sportsbook is paying out $574,925 to one lucky player who managed to flip their $50 parlay bet (a multi-leg type of wager) into the eye-watering payout. The parlay contained six different betting outcomes, all of which came true, prompting the company to share the particular achievement on its social media on Friday, October 17.

Winning Big on Underdog Bets

Among the wagers placed were Max Muncy HR (+500), Teoscar Hernandez HR (+475), Randy Arozarena HR (+525), Vladimir Guerrero Jr. HR (+90), Jonnu Smith TD (+340), and Tee Higgins TD (+215).

The bettor wagered chiefly on underdog bets, and he made it happen, although the odds appeared to be rather long, but not too bad, considering. Caesars said that the odds were in fact 11,498 to 1, which means that while the win was something to celebrate indeed, it was not too unlikely to happen.

Parlays are an interesting middle ground where bettors and sportsbooks can battle. The more selections you make, the longer the odds become, meaning that sportsbooks are more likely to turn a profit off your wager.

Parlays Continue to Excite Sportsbooks and Bettors

However, the trade-off for a successful parlay, even a few-leg one, could be significant. In this case, a person won the equivalent of a huge lottery jackpot, spending the money equivalent of a handful of lottery tickets.

Caesars preferred to keep mum about the rest of the details, but in general, the company embraced this win as what it was – a great way to promote its presence in Louisiana and beckon to local gamblers who want to place their parlays to do so with the brand, as it offers huge payouts indeed!