2018 was a big year for sports betting. The United States Supreme Court decided to put the power of legalization in the hands of states last May, striking down a federal law from 1992 that barred most states from participating in the activity. One bettor took advantage of the opportunity, placing a $5 bet that paid off big.
West Virginia legalized sports betting in 2018, becoming one of only seven states outside of Nevada to make it available once the United States Supreme Court rendered its decision last May.
One estimate, according to a report by Bleacher Report, showed that the state earned an estimated $200,000 during the first full month that sports wagers could be placed at the Hollywood Casino at Charles Town Racetrack, the first location in West Virginia to accept the bets.
Now, West Virginia’s profits suffered a significant setback after a single $5 bet earned the bettor a $100,000 payday.
The bettor placed a 15-leg parlay bet on week 17 of the NFL season; a wager that is viewed as incredibly risky but with the potential for massive rewards.
In a parlay bet, the bettor is actually making a series of connected bets, with each one representing one leg.
Bettors have options regarding wagers for NFL parlay bets. They can choose to bet on the minimum amount a team will win by, the minimum amount a team will lose by, whether the combined score of a game will be above or below a certain total, or a combination of those options. Additionally, single team or multiple team parlay options are available.
To secure a payout, the bettor must win on all of the legs. In this case, this means the bettor had to be right 15 times.
Since the bettor was correct, they receive the original $5 wager back along with $99,995 in winnings, bringing the total value of the cash out to $100,000.