BetMGM’s well-known ladder bettor won nearly a quarter of a million dollars by backing the New York Knicks over the San Antonio Spurs in Game 1 of the NBA Finals.
The anonymous user, who is believed to have profited approximately $2 million during the NBA Playoffs, cashed a range of bets from Knicks +8.5 to Knicks +4.5.
Key Takeaways
- The bettor added $85.8K to their growing profit from betting on the NBA Playoffs.
- BetMGM revealed bettor won about $1.2 million by backing the Knicks in the Eastern Conference Finals.
- This is the first time all season the Knicks are favored to win the Finals.
BetMGM News posted on X shortly before tip-off that the sportsbook had accepted $150,000 worth of tickets, the largest of which was an $80,000 wager on the Knicks at +8.5 (-210).
A few hours later, and after the Knicks upset the Spurs on the road, 105-95, all of the bets were graded as winners. BetMGM paid the user $235,787.55, or $85,787.55 in profit. The largest individual win was $118,095.24 for the $80,000 stake on the Knicks +8.5 at -210 odds.
A bettor at @BetMGM wagered $150,000 on @nyknicks to cover in Game 1:
— John Ewing (@johnewing) June 4, 2026
▪️ $80,000 on Knicks +8.5 -210 ✅
▪️ $30,000 on Knicks +7.5 -175 ✅
▪️ $20,000 on Knicks +6.5 -150 ✅
▪️ $10,000 on Knicks +5.5 -130 ✅
▪️ $10,000 on Knicks +4.5 -105 ✅
Knicks beat Spurs 105-95 in Game 1 🤑…
The bettor behind these, and other ladder wagers, remains unknown. However, the consistency and uniqueness of their approach make it appear as if the same individual was behind a series of related bets throughout the playoffs.
The user made nearly $1.2 million by backing the Knicks in the Eastern Conference Finals alone. That included $466,718 in profit from $775,000 in wagers during the Knicks’ historic Game 1 comeback, which saw them recover from a 22-point fourth-quarter deficit to win in overtime.
.@nyknicks were down 22 points in the 4th quarter
— John Ewing (@johnewing) May 20, 2026
New York comes back to win 115-104 in OT.
A bettor at @BetMGM had $775,000 on Knicks to cover in Game 1:
▪️ $75,000 on Knicks -2.5 -210 ✅
▪️ $350,000 on Knicks -3.5 -185 ✅
▪️ $185,000 on Knicks -4.5 -160 ✅
▪️ $95,000 on…
That said, the $150,000 in total wagers was on the smaller end of the bettor’s bankroll. They never risked less than $300,000 in the Eastern Conference Finals and had six figures of ladder bets in other series, including the Western Conference Finals and the conference semifinals on both sides of the bracket.
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Spurs still favored in Game 2
The Spurs were a consensus 4.5-point Game 1 favorite before Wednesday’s tip-off. They were also BetMGM’s series favorites at -190, giving them just below a two-thirds implied chance to win the championship.
After just one game, the Knicks are now the team in the driver’s seat. They shortened to -140 in NBA Finals odds (58.3% chance), while the Spurs are now +120.
The odds flip put the Knicks in pole position to win the Finals for the first time all season. They opened the season at +700 title odds, but were only +2200 by the time they entered the playoffs.
The Spurs garnered more national respect in recent weeks, although they would still make history with a series win. Their +2500 preseason odds to win the championship would be the second-longest in SportsOddsHistory’s database, which extends back to the 1984-85 season, only behind the 2014-15 Golden State Warriors.
Despite the Game 1 loss, oddsmakers are firmly predicting a Spurs bounce-back in Game 2. Odds for Friday’s rematch have the Spurs at a 5.5-point advantage, meaning they’re even larger favorites than they were in the series opener. They also have -235 moneyline odds (70.2% chance) to the Knicks’ +195 (33.9% chance).
Finals MVP odds and outlook
While the Knicks haven’t won an NBA championship since 1973, they are doing everything they can to rewrite history. Their ongoing 12-game winning streak is tied with the 1999 Spurs, who beat the eighth-seed Knicks in the Finals, 4-1. The record 15-game winning streak belongs to the Golden State Warriors.
Jalen Brunson and Victor Wembanyama are in a bit of a two-horse race in NBA Finals MVP odds, with both receiving odds just above one-to-one. Karl-Anthony Towns is the only other player in close contention.
