Rovell: How a Bettor Turned a Sportsbook Free Bet Into $200K Profit Thanks to Rams, Warriors & Avalanche
Photo by Bruce Bennett/Getty Images. Pictured: Nazem Kadri
Jeremy Malone sighed as he deposited more money into his BetMGM account last December. A big college football and NFL bettor, it had been a bad November. After seeing the latest deposit, a VIP concierge responded by giving Malone a few free bets.
"Whenever I get them, it's not going to do any good to put it on one game," Malone, 36, told the Action Network. "So I do parlays."
So, with two $500 free bets in hand, Malone took his shot.
On Dec. 16, Malone entered two separate parlays. The first was on the Kansas City Chiefs, Phoenix Suns and Colorado Avalanche to each win their sports respective championships. The second was on the Los Angeles Rams, Golden State Warriors and Avalanche to do the same.
"I'm an Avs season ticket holder," Malone said. "So the Avs were the constant."
Betting has been a big part of Malone's life over the last decade. He used to go to Vegas 15 times a year and made his three sports bars in Colorado to look like sportsbooks with big TVs and odds tickers. They're called the Sportsbook Bar & Grill.
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When the Rams won the Super Bowl in February, Malone's attention focused on the Warriors. At the time, the Warriors were 4/1 to win the NBA title — only behind the Brooklyn Nets — with an implied title probability of 14.46%.
When the Warriors and the Avs made the NBA Finals and the Stanley Cup Final, respectively, Malone felt like he needed to hedge his bet that paid out 538/1 odds for $269,000.
He put $65,000 on the Tampa Bay Lightning to win it all and $20,000 on the Boston Celtics. By winning games on teams he didn't want to win, he said he was able to make $20,000 of his hedge back.
And then came his dream.
On June 16, the Warriors beat the Celtics to win the NBA title. All that was left was Colorado, the season-long favorite to win the Cup.
Watching Game 6 of the Stanley Cup Final, surrounded by friends who were Avs fans, Malone's three-championship parlay cashed.
"It made the celebration that much sweeter," Malone said.
The big payoff, which turned out to be a net of $204,000, won't change how he bets, he said. Malone is already an active bettor, wagering a "couple thousand dollars" per week during the football season.
It's not his first notable score, either. He's previously won two Super Bowl Bets for $25,000 each.
But this one might mean a little more. The bet featured his favorite team and paid out more than he'd ever previously won.
The timing was just right, too. He and his girlfriend have a baby due in August.