Vegas Gambler Locks $8.1M Profit on Super Bowl 60

A bettor in Las Vegas engineered a situation that allowed him to come away with a large profit from Super Bowl 60, no matter which team would have come out with flying colors on Sunday.

Covering All Risks

The gambler placed big preseason wagers on the Seattle Seahawks and then hedged with bets on the New England Patriots to guarantee a payout either way.

The unnamed bettor made at least seven $50,000 futures bets on the Seahawks during the preseason, including wagers to make the playoffs, win the NFC West, take the NFC title, and ultimately win the Super Bowl. 

Those bets, placed at long odds, could pay out nearly $10.5 million if everything goes his way. 

“That’s the guy that came in in August and bet $50,000 each to make the playoffs at +180, to win the (NFC) West at 6-1, to win the NFC at 37-1 and then to win the Super Bowl at 75-1,” said Mike Palm, vice president of operations for Circa, The D and Golden Gate. 

“So he’s hit the first three, and now he would win $3.75 million in the Super Bowl. So he made a nice hedge. He’s locked it up,” said Palm prior to the Big Game. 

To protect himself if Seattle lost, the bettor also placed $1.8 million in wagers on the Patriots money line at Circa Sports and BetMGM. 

At Circa, he wagered $1.1 million on New England at +188 to win almost $2.1 million, guaranteeing a profit of $2.65 million if Seattle came out victorious, which turned out to be the case with a final score of 29-13, or $2 million if the Patriots had been the ones to celebrate last night. 

At BetMGM, the bettor had already won nearly $1.5 million from Seahawks bets, including $1.4 million when they clinched the NFC and $92,500 when they made the playoffs. He also placed a $725,000 hedge on the Patriots at +195 to win $1.41 million, ensuring a profit of either $2.28 million if Seattle had prevailed or $1.36 million if New England pulled off the upset.

“He’s a Winner Either Way”

“We had the guy who bet early in the year on the Seahawks. He absolutely came back with a hedge bet, so he’s a winner either way,” said MGM Resorts director of trading Lamarr Mitchell. 

“He’s in a good spot. He’s going to win either the Patriots money line or Seahawks future book,”

said Micthell at the time

Seattle entered the Super Bowl as a 4½-point favorite, with a consensus total of 45½. The Westgate SuperBook and South Point had the team at -5, while Circa listed the total at 45. 

Despite losing a $500,000 hedge on the Rams in the NFC title game, Palm explained that the bettor’s positions heavily favored the Seahawks. In the end, including all futures and hedge bets, the gambler stood to win either $8.1 million if the Seahawks came out champs, or $6.6 million if the Patriots prevailed.