BetMGM says Knicks betting drove a 21 percent handle jump during the NBA Finals
Heavy Knicks wagering during the NBA Finals pushed BetMGM's handle 21 percent above last year, flipping the book's outcome preference to a San Antonio win.
BetMGM says Knicks betting drove a 21 percent handle jump during the NBA Finals
Heavy Knicks wagering during the NBA Finals pushed BetMGM's handle 21 percent above last year, flipping the book's outcome preference to a San Antonio win.
Bettors dumped so much money on the New York Knicks in the NBA Finals that BetMGM’s own math flipped: the sportsbook that once wanted the Knicks to win now needs the San Antonio Spurs, according to reporting from Patch.
BetMGM said the handle, the total amount wagered, on Games 1 and 2 of this year’s Finals rose 21 percent over the same stage of last year’s championship series. Much of that came from people backing the Knicks, whose two early wins rewired the book’s exposure for the series.
“Before the NBA Finals began, the Spurs were the biggest remaining liability on the futures market,” Christian Cipollini, a BetMGM senior trading manager, said. “The sportsbook was initially hoping for a Knicks win, but that has flipped after bettors jumped on New York following their first two wins. Now the series going seven games and the Spurs winning is the best outcome.”
The Knicks money included a run of huge tickets from one bettor: $200,000 on New York +4.5, $125,000 on the Knicks +3.5, and a string of other wagers between $20,000…
Thanks for reading Bushwick Daily.The rest of this story is for members.
Create your free account or log in to continue reading.
