Is there a secondary market for long-range casino sports bets? (Please read for details.)?
Let's say I make a bet on the winner of the Super Bowl before the season starts, or early into the season, and it's a real longshot. Maybe 150-1 let's say. No one likes this team; they're getting virtually no action. So I put $100 to win $15000, and I hold onto the ticket.
Now let's say that in Week 3, or maybe even Week 12, some crazy stuff starts happening. The team wins a few games no one expected. A couple of rookies play like Pro-Bowlers. They pull off a huge trade or steal someone off waivers that will really help them. Maybe their biggest rival's QB goes on IR and the path is suddenly more open than before. Now the odds for that team to win it all improve to 40-1. Or maybe 15-1. But still nowhere near a sure thing. And here I am with my 150-1 ticket while anyone putting down a c-note now will win nowhere near as much as me. But I am not confident at all. I would gladly sell my $100 ticket at 150-1 for $1000. Or $500. Maybe even $200. Double my money as a sure thing independent of any outcome on the field? Sure. Why not? The question is, would anyone want to buy my ticket above cost like that, even though it is still a much better value than they can get now? Is selling it legal? Can I just put it on Craigslist?