By Julie Glass
Texas Tech is playing in its first first Final Four in school history, and one bettor can really clean up.
Back in November, a bettor wagered $1,500 on the Red Raiders to win the national championship at 200-1 odds at the SuperBook at the Westgate Las Vegas.
The ticket would win $300,000. ESPN has confirmed with the SuperBook that the ticket is legitimate.
Now, the bettor is looking to potentially hedge his bet and cash out through PropSwap, a secondary marketplace that allows sports bettors to buy and sell their futures tickets.
The ticket has been posted with a price of $65,000, which would be the largest cashout in the company’s history (since 2015).
The SuperBook has set up its futures book well and isn’t too concerned. “Auburn is our only liability, and a small one at that,” SuperBook vice president of risk Jeff Sherman told ESPN..
The same bettor also has a $1,500 bet on Michigan State to win it all at 40-1 odds. That wager would earn $60,000.
Michigan State is a consensus 2.5-point favorite over Texas Tech at U.S. sportsbooks. As of Tuesday night, nearly 60 percent of the money on the spread and 93 percent of the money on the moneyline at William Hill US sportsbooks was on Michigan State.
Texas Tech would be a 2-point favorite over Auburn if both advanced, and a 3-point underdog against Virginia, per the SuperBook.