The favorite to win the PGA Championship this weekend is Scottie Scheffler , but according to ESPN, someone dropped 20 large on longshot 60-1 odds Tiger Woods to win the whole thing. Scottie won the Masters and is favored to win this one too, at 11-1 odds. But what fun is that?
ESPN reports “Caesars Sportsbook on Tuesday reported taking a $20,000 bet on Woods to win the PGA Championship at 60-1 odds. The bet was made in cash, over the counter at Caesars Sportsbook at the Cosmopolitan hotel and casino on the Las Vegas Strip. If Woods wins, the bet would pay a net $1.2 million, one of the largest payouts on a golf wager ever.” If Tiger wins, this would be the largest loss in BetMGM history. Woods won the PGA Championship at Southern Hill in 2007, but I bet his odds were a lot more favorable back then.
My take? Why not put it all on the table. Even Nike would say “Just Do It”. Every week the retirement nest egg in my IRA goes backwards because the stock market is tanking. The cash I have in the bank is worth about 10% less than it was a year ago because inflation is ruining our lives. So the way I see it, the only way to make some serious coin right now is in real estate or try your hand at some real degenerate gambling. And dropping 20 grand on Tiger to win with 60-1 odds is about as nuts as it gets. And if Tiger wins and whoever it is pockets that 1.2 mil – put 20K in your pocket and let the rest ride. 0 DTE SPY puts bought at open would have paid handsomely today.
As the lunatics on r/wallstreetbets say: