Parlay bets that combine the outcomes of several games or future championships have grown in popularity in the world of sports betting.
A parlay that spans across basketball, golf and soccer could soon turn into nearly a million dollars for one bettor.
What Happened: England and Spain entered the Euro 2024 Tournament among the favorites to win the trophy and find themselves meeting in the championship game.
England, ranked fourth by FIFA, was the co-favorite at odds of +350 to start the tournament with Spain, ranked eighth by FIFA having the fifth-best pre-tournament odds at +800.
A bettor is hoping that it is England’s team which lifts the trophy.
The parlay placed with DraftKings Inc DKNG included Scottie Scheffler winning the 2024 Masters Tournament at odds of +400, the Boston Celtics winning the 2024 NBA Championship at +180 and England winning the Euro 2024 Tournament at +300.
The parlay has overall odds of +5,500 and will turn the $17,628 wagered into $987,168 if all three legs hit, as shared by Ben Fawkes on X.
Needing only the England leg to cash, the bettor placed the parlay slip on PropSwap ahead of England's semifinal match with the Netherlands.
The bettor turned down an offer of $230,000 on the parlay slip and also a cash-out offer of $238,738.49 from DraftKings. According to Fawkes, the bettor placed a small hedge bet on the Netherlands in the match.
Hedging, which involves betting on the other side of an outcome a bettor already wagered on, is a common practice with big ticket payouts to preserve some level of winnings rather than walking away with $0.
Current odds on DraftKings show Spain as the favorite to win the match at +145 and England the underdog at +235. Given the potential for a regulation draw and extra time needed, bettors can also pick which team will win the trophy regardless of the method, with Spain the favorite at -150 and England the underdog at +115.
Spain was the only team to win all three of their group stage matches and has looked dominant in the tournament. The team also knocked out Germany and France in the elimination rounds, two of the tournament favorites.
England had one 1-0 win and two draws (1-1, 0-0) in its group stage and has less convincing wins in elimination.
England has scored two goals twice in their six matches, while Spain has scored at least two goals in four of their six matches and more than two goals twice. A higher scoring match could favor Spain.
History is also on Spain's side as the country has won three European tournaments (1964, 2008, 2012) and has also won the 2010 World Cup. England has never won a European tournament and its 1966 World Cup win is its only major international tournament win.
Read Also: Drake Bets $300K In Bitcoin On Canada Over Argentina In Copa America: ‘This Could Get Messi’
What's Next: The Euro 2024 Championship game takes place Sunday, July 14 at 3 p.m. ET on FOX, a unit of Fox Corporation FOXFOX.
Fox, who has the U.S. rights to the Euro tournament and the Copa America tournament, has been seeing increased soccer viewership.
Through the quarterfinals, the Euro 2024 viewership is up 42% compared to the 2020 tournament that was played in 2021 due to the COVID-19 pandemic, according to a report from Deadline.
Fox averaged 1.5 million viewers in the first 43 matches of the tournament on Fox and FS1. The quarterfinals averaged 3.6 million viewers, which was up 89% compared to the last Euro tournament. This marked a record for the Euro tournament quarterfinals on English language networks in the U.S.
The France vs. Portugal quarterfinal had 4.3 million viewers, marking the record for an English-language Euro quarterfinal in the U.S. and Fox's largest soccer audience for a non-World Cup match.
Copa America matches have averaged 1.2 million viewers for Fox through the quarterfinals, up 400% from the same tournament in 2021.
Read Next:
Photo: Mo Photography Berlin/Shutterstock.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
