That’s right. We are sitting on a nice payday if the North Carolina Tar Heels win the National Championship on Monday. We will be risking $100 to win $3,600. You could have too, if you followed us on Twitter. Check it out and you might make a few bucks while you are at it.
As our friends know, we are as sound as a pound. Whether analyzing sporting events, the stock market or making the community a better place to visit and live… our reputation is solid. We know it sounds crazy, but we are literally risking $100 to win $3,600.
So how in the world did Vegas Sports® manage to risk $100 to make $3,600 if North Carolina wins the National Championship for the 6th time?
It’s a long story, but let’s dig into the details. Details are so key. Frank, our friend that recently retired from Metro’s Forensic Lab, would be one to stress the importance of details.
We started with a principal balance of $2,000 to risk on future bets to win March Madness (ended up betting an additional $100 to bring our total to $2,100). Basically, we placed long calls on teams we thought had the capabilities to win it all.
Our first bet was placed at the beautiful Wynn Las Vegas for $500. This bet was made on November 26th, after Carolina won the Maui Invitational. We could tell that the team used the summer in Chapel Hill to get even stronger than a year before, just like we would expect from the Tar Heels.
We are going to list all of our bets for the National Championship by date:
11/26 Carolina (8-1) $500 at Wynn to win $4,000
12/03 Duke (4.5 to 1) $200 at Red Rock to win $900
12/24 Carolina (12-1) $100 at Red Rock to win $1,200
02/04 Gonzaga (9-1) $200 at Wynn to win $1800
02/04 Iowa State (300-1) $100 at MGM to win $30,000
03/04 UCLA/KU/Duke/Nova (+140) $800 at South Point to win $1,120
03/04 Kentucky (10-1) $200 at MGM to win $2,000
Total bet: $2,100
If Carolina Wins:
+ $4,000 won at Wynn
+ $1,200 won at Red Rock
– $1,600 lost bets
If Gonzaga Wins:
+$1,800 won at Wynn
-$1,900 loss bets
So, there it is. Through strong analysis, experience and a little luck. We have positioned ourselves to risk $100 in order to win $3,600.
The end result is that we have an excellent risk/reward set up for the National Championship game. Another bonus has been a really fun March Madness. Looks like it’s time for some popcorn, because we aren’t hedging this baby. We are letting this bet ride. Go Heels !!!