BFo8 - Here is one for you.

[Gunga_Galunga]

@darrenrovell
Yes, Eric Barger bet $800 on UMBC to beat Virginia and won $16,000. The story behind the bet

http://www.espn.com/chalk/story/_/id/22812889/umbc-alum-eric-barger-friends-800-vegas-bet-retrievers

 

[BFo8]

I saw that, guy got a bad number but I’m sure doesn’t care right now.

Saw in local paper a guy bet about $1500 on Virginia to win $15. That’s a bad one, I assume he was money laundering.

The guy who bet the ML parlay at Cantor on Purdue, UNC, and Virginia $20k to win $870 probably in a bad mood today.

I’ve seen some of these guys go on ridiculous streaks over the years betting these big ML favorites, but it almost always comes back to bite them in the end.

 

[Gunga_Galunga]

I saw that, guy got a bad number but I’m sure doesn’t care right now.

Saw in local paper a guy bet about $1500 on Virginia to win $15. That’s a bad one, I assume he was money laundering.

The guy who bet the ML parlay at Cantor on Purdue, UNC, and Virginia $20k to win $870 probably in a bad mood today.

I’ve seen some of these guys go on ridiculous streaks over the years betting these big ML favorites, but it almost always comes back to bite them in the end.

Yeah, sooner or later you're going to lose one and you have to win way too many to cover a single loss.

 

[Jpripper88]

I saw that, guy got a bad number but I’m sure doesn’t care right now.

Saw in local paper a guy bet about $1500 on Virginia to win $15. That’s a bad one, I assume he was money laundering.

The guy who bet the ML parlay at Cantor on Purdue, UNC, and Virginia $20k to win $870 probably in a bad mood today.

I’ve seen some of these guys go on ridiculous streaks over the years betting these big ML favorites, but it almost always comes back to bite them in the end.

Yeah, I saw it as $1275, but thought the same thing. I'm not sure what else could be the motivation.

 

[BFo8]

Yeah, I saw it as $1275, but thought the same thing. I'm not sure what else could be the motivation.

I used to see it a lot. For a time my place was the only one putting up those 50-1 type money line favorites and we only did it to cater to a big horseplayer.

Word got around and we started to get these couple guys who were obviously laundering. They would bet the biggest ML favorite on the board for say 10k to win $200. Of course over 10k is the magic number where you have to produce ID and they would never go over that. They also paid in primarily $20 bills as well.

When they won they would get $10k in cash and $200 in chips so they didn’t have to produce ID on that end as well. That’s known as structuring your transactions and is pretty much forbidden. I alerted my boss and he said screw it give them another couple plays to see if they hang themselves. They never did get burned and got booted a few days later.

 

[maxxwell]

20-1 on something that had never happened in over 130 times doesn't seem like good odds to me.