But there has to be a decent amount of money to go from +20000 to +12500.
It doesn't take that much at those odds. If 100 people each bet $100, then they're bringing in $10,000 with a liability of 2 million. If they bring that down to +12500 they still attract the same sort of casual bettor, but their liability is almost halved.
Obviously they don't think Colorado will win the championship. Those are 1/200 odds, or .5% chance of occurring. But, if it did happen, then they have to pay. When Leicester won the English Premier League title a few years ago, some early bettors got in at 5000/1 odds and some bookmakers had to reach settlements for lower payouts with winners because the liability was so large. Those bookmakers were only paying out 40-50 bets, though. MGM is seeing 4.5% of its betting volume on people doing this with Colorado. That's too big of a liability.
Last edited by a moderator: