Bettor uses ‘points betting’ in Ravens-Dolphins game, turns $30,000 into $600,000
Charles Curtis 6 hrs ago
It seemed obvious to just about everybody that the tanking Miami Dolphins were going to lose to the Baltimore Ravens.
It even seemed obvious that the visiting Ravens with Lamar Jackson at the helm would cover a 7-point spread. But that brings us to a question: How much would you be willing to bet that the Ravens would cover AND would blow that spread out of the water?
We have an answer of sorts. Per Action Network, a bettor took $30,000 and put down on the Ravens at PointsBet. But there was a catch: That gambler used a specific product called "Points Betting":
The way Points Betting works is once the spread is covered, a bettor makes 1x the wager per point away from the spread. … The max win/loss for this particular wager was set at $600,000. So if the Ravens won by 26 or more, the bettor would win $600,000. Similarly, if the Ravens lost by 26 or more, the bettor would LOSE $600,000.
It's super risky - if you had, say, bet with that product on the Cleveland Browns on Sunday, you would have lost A LOT of money since they were a minus-5.5 favorite against the Tennessee Titans and lost 43-13.
But this bettor could see what was shaping up. And now he or she is $600,000 richer because the the Ravens won 59-10.