According to BetMGM Sportsbook, a customer who won the first 15 legs of a 16-team NFL moneyline parlay over the weekend did not come up empty when the Detroit Lions lost the final leg on Monday Night Football.
Because despite the 35-17 loss to the Green Bay Packers that otherwise would have turned a possible $726,959 score into a loser, BetMGM offered a $133,000 cash out option. And the bettor accepted.
There was a happy ending after all to this story that entered the Michigan sports betting conversation.
According to BetMGM, this offer on the NFL parlay was outside of the sportsbook’s usual practice of not offering cash outs for wagers made on a free bet, as this one was with a $25 promotional wager. However, “due to the amazing picks and unlikely odds, BetMGM made an exception and the bettor cashed out for $133K pre-tax,” according to a BetMGM statement.
Bettor hit first 15 legs of $727k NFL moneyline parlay on BetMGM
The bettor hit on the first 15 NFL games of the weekend parlay by picking the winners at BetMGM Sportsbook on the moneyline.
The odds were:
- Washington -175
- Bears -130
- Browns -650
- Rams -190
- Bills -175
- Patriots -250
- 49ers -160
- Raiders +190
- Panthers +150
- Broncos -275
- Cardinals -190
- Buccaneers -650
- Cowboys +135
- Titans +190
- Ravens +180
That left the Detroit Lions on Monday night against the Green Bay Packers, which the bettor had locked in at +400. The Lions actually closed at +450 by game time.
(Notably, a $133k bet on a +400 bet pays $665,000. So, pretty good value on the cash out, really.)
More Michigan sports betting coverage
- How much money could you have made “fading the Lions” over the past 20 years?
- Peyton and Eli on MNF: 7 highlights from highly-rated ‘ManningCast’
- Lions-Ravens Week 3 odds: Detroit again a touchdown-plus underdog
- Updated information on real-time spreads, odds for each NFL game
Given the potential big score and the possibility of ending the situation with nothing, the bettor likely played out several scenarios in their head before making a decision.
Among the options would have been to hedge hard on the Packers moneyline (and perhaps sprinkle some money on a bet for a tie). However, that path was imperfect against a GB moneyline of about -600.
You’d need to bet a large chunk of change (that you may or may not flexibly possess) to actually win a lot.
And although BetMGM’s offer and the ensuring acceptance made things easier in this case for the bettor, it does beg questions down the line.
Baltimore Ravens at Detroit Lions: NFL Week 3 Odds
What will the next big potential parlay winner expect and accept?
It’s hard to call this particular scenario anything other than a win/win.
The player gets $133K and didn’t even have to sweat out what would have been a devastating Lions loss. Meanwhile, BetMGM got a news cycle of gambling news and mainstream media coverage for a type of bet that it would love to see more players make. Also in the end, the cash out offer appears benevolent, in a way.
But, just like sportsbooks occasionally offer refunds or free bets after “bad beats,” there’s an argument to be made that this situation could set a bad precedent.
Is BetMGM setting up itself and other operators for some angry customers who expect robust cash out options, even when parlays are still long shots and other free bet-type of exceptions could be made?
But today, that’s for the experts on Gambling Twitter to debate. As for the bettor escaping an unimaginable Same Old Lions hell, there is reason to celebrate.