Sports gambling is a popular way to enjoy a sporting event on a whole other level. Die-hard fans and gambling aficionados alike will place bets on sporting events both large and small. Some can make big money this way. They bet on underdogs or unlikely odds and can make just as much money in a night as the athletes that they bet on.
After years of prohibition on sports gambling, many countries are beginning to retract the laws against it, including the U.S. In 2018, the federal ban in the U.S. was lifted, but many states still will not allow it. But, with the increasing demand and popularity, it’s likely that those states will soon have a change of heart.
With the rise of online gambling, it’s easier than ever to place a few quick bets on your team or on an athlete. A lot of online casinos will even let you place bets after the sporting event has started. So, from the comfort of home or even from a smartphone, sports lovers everywhere can easily join in the fun.
Throughout history, there have been a few occasions where people have taken home huge winnings after betting on slim odds. These moments had the power to change their entire lives in just one night. Here are 7 of the greatest sports gambling moments ever:
- 2011 Cardinals World Series Championship Win
Coming up to the 2011 World Series, the Cardinals had 15 games left to play and they were five games out of the playoffs. Because of their ranking, their chances of winning the World Series were slim.
While this would logically cause many gamblers to steer clear, Adam Meyer, a professional sports better, placed $100,000 on the team winning the World Series. When they did, he walked away with $1.5 million. He wasn’t the only one who took a chance on those terrible odds. Many walked away with a nice payout after that unexpected turn.
- Rulon Gardner 2000 Olympic Wrestling Win
In perhaps one of the biggest upsets in Olympic Wrestling history, Rulon Gardner earned the gold medal in Olympic Wrestling in 2000 despite the 2,000 to 1 odds. To do so, he had to compete with Alexander Karelin who had been top dog for over ten years.
In his entire career, Karelin had only lost one match before that day. No one believed that Gardner would be able to break Karelin’s winning streak, but he didn’t let that stop him. Even a small bet on odds that slim would result in a huge payout.
- Buster Douglas KOs Mike Tyson in 1990 Fight
When James “Buster” Douglas entered the ring with Mike Tyson, his odds knocking out Tyson were placed at 42-1. Despite the large bets placed on Tyson, Douglas managed to give the KO in the tenth round.
That night, the sportsbook at The Mirage won over $300,000 because of that KO. Many lost a lot of money–one better placed $168,000 on Tyson and ended the night with just $4,000. Some also walked away with a good bit of cash. One such person placed $1,500 on Douglas and received a payout of $55,500.
- USA vs. Soviet Union 1980 Winter Olympic Hockey
This upset is a well-known one and the story behind the Disney movie Miracle starring Kurt Russel. Many believed that the U.S. Olympic hockey team had almost no chance of beating out the Soviet Union. The Soviets had beaten the team 10-3 just days before the Olympics and they had taken home 8 of the 9 previous gold medals in hockey.
Despite the razor-thin odds (1,000 to 1), the U.S. Olympic hockey team took home the gold. Even a small bet of $5 on the U.S. team would result in a $5,000 payout. If you’re willing to take on these kinds of risks, the payout can be incredible.
- Stanford vs USC 2007
Coming up to this game, Stanford was the 41-point underdog. In what is called one of the biggest upsets in sports history, Stanford still managed to clinch the win and make some bettors very happy.
Not only was this win unlikely to begin with, but Stanford pulled it off with their back-up quarterback. Taking the chance on these odds made no sense, but incredibly, it paid out big for those who took the risk.
- Boris Becker 1985 Wimbledon
At 17 years old, Boris Becker was unseeded when he approached the 1985 Wimbledon. His odds of winning were placed at 14 to 1. While he only ranked twentieth in the world, he shocked audiences by taking the win from the likes of John McEnroe, Pat Cash, and Ivan Lendl.
This is a great example of an underdog win. No one blames bookies for giving Becker slim odds. But those who were willing to take the chance were certainly rewarded for their faith in him.
- Leicester City 2016 Premier League Win
Of all the extraordinary wins on this list, this one was the biggest upset. Leicester City beat 5,000 to 1 odds when they won the Premier League championship. It’s hard to even comprehend how absurd of a win that is.
Stories like this one make it easy to see why sports betting is becoming increasingly popular. Some bookies owed so much in payouts that they were not able to give betters their full return. One bettor placed a modest bet of £50 on Leicester, but he only received a payout of £72,000.
Sports betting can be a fun way to raise the stakes on a game and take the spectator experience to a whole new level. With the surge in online gambling, it’s going to be easier than ever to become a participant. So, the next time you see an underdog climbing toward victory, place a small bet. You never know how big the payout might be.