New Jersey is the sports betting capital of the world, and this week, it had one of the biggest parlay wins. A parlay is when you combine a group of single bets on one slip which heightens the odds.
Higher odds equate to a larger payout, but parlays are still considered sucker bets because all legs must hit. Yet, when they do hit, the payouts are massive. Recently, a New Jersey bettor turned a $25 parlay ticket into $237,000 on a 25-leg parlay.
This is not something that happens every day. It’s hard to hit one bet in sports wagering, let alone a 25 legger. Let’s break down this epic parlay placed on Caesars Sportsbook in New Jersey.
Huge Parlay Payday
Kevin LaRose, a 64-year-old man in New Jersey, took a shot in the dark on a 25-leg parlay. He placed a 25-leg parlay that came down to the Wyoming Cowboys men’s basketball team against the Utah Valley Wolverines.
LaRose was not a fan of the Wyoming Cowboys before placing the parlay. However, this may be his new favorite college following the team’s win over Utah Valley. The parlay was placed on December 11, so thanks to Caesars Sportsbook, Christmas came early.
Wyoming needed to beat Utah Valley by over eight points. For LaRose, there was never any doubt in his head. He was going to let the bet ride, and the Cowboys did not disappoint. Wyoming won by 12 points, and LaRose celebrated immediately.
He said, “I took a picture of the Caesars Sportsbook screen that congratulated me for winning $237,000 and change. It was awesome, I popped open a bottle of wine, and we stayed up until like 4:30 in the morning.”
The Odds
The odds of this parlay hitting were slim to none. A lot of bettors take shots in the dark, but they usually fall short. In the history of Caesars Sportsbook, there have only been 112 cashed parlay tickets consisting of 25 legs. Why not read more of the BParlay.com lastest sports betting news in out dedicated news blog.
According to a Caesars press release, LaRose hit the best 25 leg parlay in the history of Caesars Sportsbook.
The press release stated, “So just how historic was LaRose’s parlay? There have been 112 25-leg parlays that have cashed at Caesars Sportsbook. The highest winning amount on the previous 111? $3,400. Because LaRose threw in 10 spread bets with -110 juice on his parlay compared to just putting in huge moneyline favorites and laying heavier numbers, his $237,553.11 winnings was substantially higher than the others.”
LaRose has placed a lot of parlays to hit this 25 legger. He typically places multiple parlays one hour after researching the best college basketball picks on a Saturday morning.
The massive number of weekend college basketball games makes these contests the best to wager for LaRose.
Qoute:
He said, “I usually try to put in one giant parlay whenever there’s enough games to choose from. I like college basketball, there’s a lot of games you can choose from on Saturdays. I wanted to get to 25 games for this parlay, and I needed a couple more, so I checked out the NBA. I don’t really bet the NBA that much, but I saw those teams, and I felt they had a good shot at pulling off the wins.”
On the day his parlay hit, LaRose had two busted parlays. However, his final ticket solely had winners.
LaRose is a perfect example of why parlay bets are not sucker wagers. They are some of the best bets on sportsbooks because you can turn $25 into $237,000. The ticket included 15 money line wagers on favorites and ten spread bets, including two underdogs.
