Making Waves – And Bank – In the Sports Book
As far as sports betting is concerned, the recent PGA Championship presented the kind of value bet few sports bettors see more than once or twice a year.
Thankfully, a handful of lucky Turning Stone guests cashed in, which means The Lounge with Caesars Sports was pretty busy in recent weeks.
The betting unfolded around Phil Mickelson, who became the oldest player to ever win the event.
Betting for the event opened with “Lefty,” as golfers call him, at 175/1. Over the course of the weeks leading up to the event, it ballooned up to 250/1. The book took five bets at the first number and 22 bets at the second one. Most of the bets were $5 or $10 dollars, but two bets were made for $20 apiece.
One of our guests from Little Falls, New York, purchased and held one of those $20 tickets at 250/1. For those of you scoring at home, that ticket was worth more than $5,000.
After the tournament started, the odds dropped drastically as Mickelson played well. On Friday, May 21, Mickelson was 12/1 and a handful of bettors took that number. The largest bet overall was a $400 wager on the final day of the tournament. That bet was at +350 (3.5/1 odds), and it now can be cashed for a cool $1,800.
Looking forward, our sports book will hang lines for every major sport through the rest of the year.