A widow from Massachusetts proved to be prescient as she requested to have her deceased husband's futures bets on the Boston Celtics refunded weeks prior to their exit from the NBA playoffs on Friday.
Key Takeaways
- The deceased bettor’s wife had nine wagers voided by regulators a month before the Celtics were eliminated by the Knicks.
- DraftKings refunded the $106,100 in bets to the estate, setting a new precedent.
- Boston isn’t the first as upsets have become the norm in this year’s NBA playoffs.
A deceased Bay State bettor’s widow saved more than $100,000 about a month after the Massachusetts Gaming Commission unanimously approved the wife’s petition to void several bets.
Before his death, a customer placed nine futures wagers with DraftKings for $106,100 on the Celtics to win the NBA title and the Eastern Conference. The sportsbook notified Massachusetts sports betting regulators on March 7 and supported the widow’s request, citing regulation 205 CMR 238.35(2). DraftKings showed the MGC that all requirements had been met to refund the money to the estate, leading to a 5-0 vote to approve the petition.
Precedent set
It worked out well for the wife as Boston was eliminated in six games by the third-seeded New York Knicks, ending the postseason for the Eastern Conference favorites. The Celtics were -130 to make it to the NBA Finals and second behind only Oklahoma City to win the league championship at the time the bets were canceled.
The new precedent will likely come up again for sports betting operators, but DraftKings told the MGC that honoring these types of requests strengthens the public’s trust and upholds integrity in the industry.
Upsetting trend
Underdogs have had notable success against favorites in the first two rounds of the playoffs, leading to a bounce back for sports betting operators that were hit hard during an unprecedented NFL season and a March Madness that lacked upsets.
Boston won the second seed in the Eastern Conference after going 61-21 during the regular season and needed five games to cruise past the Orlando Magic in the first round before getting ousted by a feisty Knicks squad.
The Cleveland Cavaliers had the top seed in the East but were eliminated in the second round by the fourth-seeded Indiana Pacers. Minnesota, the sixth seed in the West, took out the third-seeded Los Angeles Lakers in the first round before sending Golden State packing in the second round to reach the conference finals.
