The risk of betting big to win little doesn't seem optimal, but putting money down on the 'No' has been gaining momentum.
Despite -2400 odds that he wouldn't win the U.S. Open, Bryson DeChambeau found a way to claim the championship.
"It sucks to lose," Rufus Peabody said."But I was confident in the bets we placed and in the process behind them, and I would place those again." Kane says the customers making the largest No bets are almost always sophisticated, price-sensitive bettors with much more in play than just a single wager."I'd say, they range from sharp to very sharp," he told ESPN.
"The strategy behind the bet is the same as any other bet," the bettor wrote in a text to ESPN."I bet them when I believe there is value when making the bet, while also factoring in the time it may take for the position to be closed. Just like betting 'Yes' when one thinks a player or team is underrated, one can bet No when they think a player or team is overrated.
Every bet over $3,000 that's placed on Sporttrade is published on X . The company calls it the Whale Tracker, and its following tripled this spring, Kane says, in part due to the interest in the big No bets.For Sporttrade, the Whale Tracker is a marketing tool that uses the eye-catching volume of its biggest customers to attract attention to the platform.
"Sure enough, every Sunday, we have a guy who bets MLB and he makes six straight bets that are $2,999 to stay just below the Whale Tracker threshold," Kane said.
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