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Seconday market?

Discussion in 'The Sports Book' started by jhpa, Apr 24, 2018.

  1. jhpa

    jhpa High-Roller

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    Not that I would do this, but just wondering...

    I am sitting with a$10 bet on the sixers to win the nba championship at 100 to 1 that I bought back in July. The current odds are 10 to 1

    Is there any market where I can sell this ticket - for example - $500?
     
  2. CLE_Greg

    CLE_Greg Tourist

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    It’s getting closer to being in the money...I’d buy an option on it for a $1...Congrats, I think you just created a new derivative market! Hurry up and patent the LVSE
     
  3. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    There are markets, but no idea what you could get
     
  4. hammie

    hammie VIP Whale

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    What are the current odds?
     
  5. MiamiDave

    MiamiDave You Can't Handle the Truth

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    The payout on your ticket, if it wins, is $1000. For someone to pay $500 for it would mean they're basically an even favorite to win the title and not 10:1, so no, you won't get anywhere near that. You might be able to sell it for $90-95 tops.

    Your other option is to bet on all of the other remaining teams at the end of round 1. That's called hedging. I would personally wait until the end of round 2 before I started considering that option though, as your likely return by doing this would still only be $80-90. Just doesn't seem worth it to me yet but YMMV.
     
    WSOP Trip, Staying at the Luxor/Wynn
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  6. alexm

    alexm Tourist

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    Propswap.com
     
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