No Wager Popularity Grows, Bettors Risk Thousands for a Few Hundred

Sports betting expanded exponentially since the repeal of PASPA in 2018. With millions of bettors across the United States having access to legal wagering, more sports fans join the hype as they place bets on their favorite teams.

With the popularity of wagering, different types of bets gained the attention of seasoned bettors. Such include parlay bets, prop bets and even “no bets,” a type of wager that a specific team or player won’t win a competition.

Wagering someone not to win a tournament is part of strategies by bettors who want to hedge. Still, this doesn’t mean that such wagers are always winning ones but can often be used as a way to balance the bettor’s position.

Depending on the odds, bettors may wager thousands only to win a small profit and this is precisely the case for some golf wagers via Sporttrade, a popular betting exchange that profits from commission on bets trading.

Currently, wagers above $3,000 can be tracked via Sporttrade Whale Tracker. The automated service posts information about high-profile wagers via X and has just above 8,000 followers.

A quick glance at Sporttrade Whale Tracker shows just that bettors are risking a lot to win back a small payout. For example, one bettor wagered $19,200 at -2,449 odds for the SEA Marines not to win the World Series. Despite betting nearly $20,000, the bettor would receive a payout of $784.

A similar wager is placed for Jason Day not to win the Open Championship. The bettor who placed $29,430 at -5,269 odds would win $558.6 if their prediction is correct.

Customers Who Place No Wagers Are Sharp Bettors

While some might speculate that such wagers are certain, no one can guarantee that a specific team or a player would win or not win a sports tournament.

In a recent interview for ESPN, Alex Kane, the founder and CEO of Sporttrade, acknowledged the growing popularity of no bets or no wagers as some call them. He said that a growing number of customers place no bets on baseball, golf and in some cases even on college football and the NFL.

Kane spoke about the typical profile of a no wager customer, outlining that such clients place multiple wagers and are extremely sensitive when it comes to pricing. “I’d say, they range from sharp to very sharp,” the exec explained.

Kane outlined that in some cases, the clients place wagers on both sides in a tournament. In other cases, a no wager could be a part of a number of bets that would seek to balance the bettor’s position or hedge, he revealed.