One high-rolling sports bettor lucked his way into an extra $300,000 over the weekend at FanDuel Sportsbook at Meadowlands with a pair of picture-perfect parlay sports bets that paid odds of 90/1 and 233/1.
The customer, who remains unnamed, put down a total of $2,000 across two parlays involving a mix of college football and NBA games. To hit just one 8-game parlay is a major victory of its own; to hit two parlays back-to-back is a win of such epic proportions that it is borderline absurd.
FanDuel Sportsbook published the winning bets on Twitter over the weekend:
What we see in this picture are two parlays, one that paid $108,612.93 off a $1,200 bet and another that paid $187,633.52 off an $800 bet.
For the uninitiated, parlay bets have the bettor pick the outcomes of multiple games and roll all those predictions into one big bet that pays at high odds. The catch is that the bettor must get every prediction correct or else the entire bet is lost, with the exception being any ties (such as when the final score lands exactly on the point spread). In the case of ties, the parlay still wins but at a lower payout.
People typically place small wagers on parlays because the odds of winning are so low and even a small wager can result in a big payout. Although there is certainly skill involved in picking each game, parlays are basically the sports betting equivalent of lottery tickets and should usually be treated as such. This particular FanDuel customer threw all caution to the wind, however, and plunked down thousands of dollars on two long shot parlays.
In the first parlay, we see the customer picked eight college games and plopped down $1,200 on the bet. He successfully predicted the outcome of every game, but missed out on an even bigger payout when Notre Dame beat Navy by the exact point spread. The Notre Dame result counted as a tie for betting purposes and therefore bumped the payout down to a “measly” 90/1.
That alone would have been a newsworthy event, but this particular customer wasn’t done yet. He also wagered $800 on a 10-game parlay involving eight college football games and two NBA games. This parlay went off perfectly for the customer and netted him an extra $187,000 to bring his total take for the weekend to $296,246.45.
FanDuel Sportsbook Won’t Be Growing Broke Any Time Soon
FanDuel Sportsbook at Meadowlands has made the news with some big payouts recently, not all of them as straightforward as this one. FanDuel courted controversy last month after initially refusing to honor an $82,000 payout that was a result of a pricing error before reversing its decision and paying the bettor in full after public outcry.
In that instance, FanDuel Meadowlands was taking in-play action on the Denver Broncos and Oakland Raiders game back in Week 2. The Broncos were trailing the Raiders 17-19 late in the fourth quarter and Denver had possession of the ball when FanDuel customer Anthony Prince put $110 on the Broncos getting the come-from-behind victory.
The Broncos were well within field goal territory and FanDuel later said it intended to price the Broncos as -600 favorites for the comeback. Instead, some sort of technical glitch caused the oddsmakers to price Denver as massive +75,000 underdogs. Prince jumped all over those odds and his wager won after the Broncos easily kicked the game-winning field goal.
After catching the error, FanDuel at first refused to honor the $82,000 payout. Instead, FanDuel lamely offered Prince $500 and tickets to three Giants games. FanDuel noted at the time that pricing errors are generally accepted as unfortunate by the industry, but that sportsbooks are not honored to pay on obvious technical glitches. This is how it’s been done in the UK for years.
FanDuel eventually decided to pay Anthony Prince his $82,000 in the face of growing public backlash and negative press. This decision will likely prove much more expensive than the $82,000 paid to Prince because pricing errors are an inevitable part of business in the fast-moving sports betting industry. FanDuel has now set the precedent that it will pay on obvious pricing errors.
Even so, something tells me they’ll be just fine. Last month alone, FanDuel Sportsbook at Meadowlands generated $7.2 million in gross revenues between its online and in-person activity.
In September, FanDuel’s online sportsbook generated $2.8 million in gross revenue while the retail sportsbook at Monmouth Park generated nearly $4.4 million in gross revenue. FanDuel Mobile opened on September 1st and will almost certainly eclipse the retail operations at Monmouth Park in short order.