Knicks bettor wins $1.1M as sportsbook takes massive hit on ladder strategy
An anonymous bettor has won $1.1 million by successfully betting on the New York Knicks during their playoff run. This bettor utilized a ladder betting strategy, placing significant wagers on multiple games throughout the series. The success of these bets has resulted in a notable financial loss for the sportsbook BetMGM, impacting their earnings significantly.
- ▪The bettor has placed $3.6 million in wagers and made $1.7 million in profit during the playoffs.
- ▪They initially bet $200,000 on the Knicks to cover five spread bets before Game 4.
- ▪BetMGM's loss of $1.7 million represents a 6.8 percent hit to their earnings from the last quarter.
Opening excerpt (first ~120 words) tap to expand
Betting New York Knicks Knicks bettor wins $1.1M as sportsbook takes massive hit on ladder strategy By Malik Smith Published May 26, 2026, 2:26 p.m. ET Charles Wenzelberg/New York Post See more of our coverage in your search results. Add The New York Post on Google Gambling content 21+. The New York Post may receive an affiliate commission if you sign up through our links. Read our editorial standards for more information. This has been a generational run through the Eastern Conference finals that will be talked about for years. Not just for the Knicks, but for an anonymous NBA bettor at BetMGM who capitalized on their historic run. The bettor has been cashing in on ladder bets for the past three weeks when the Knicks were still being doubted against the 76ers in the second round.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at New York Post.
Discussion
0 commentsMore from New York Post
