A BetMGM customer who has won nearly $2 million laddering spread bets during the NBA playoffs lost $350,000 backing the Oklahoma City Thunder in their Game 4 loss to the San Antonio Spurs.
The bettor's customary ladder spread bets went 0-for-6 Sunday night, with a standout loss of $150,000 on Thunder +6.5. The Spurs cruised past the Thunder 103-82.
Key Takeaways
- The bettor had won multiple ladder spread bets since the beginning of the playoffs.
- BetMGM reported the user had correctly backed OKC with $300,000 in bets in Game 3.
The ladder bettor – whose identity remains anonymous – has dominated the sportsbooks during the NBA playoffs.
The big-bank user has won more than $1.9 million since April 27. The bettor took home $167,508 from $300,000 in bets by supporting the Thunder in Game 3 against the Spurs, which ended in a 15-point road win for the defending champs.
Laying another $350,000 in tickets on the Thunder in Game 4 felt like a sign that the series was destined to be headed to a 3-1 count.
More ladder action for Thunder-Spurs Game 4 🪜
— John Ewing (@johnewing) May 24, 2026
A bettor at @BetMGM has wagered $350,000 on @okcthunder to cover
▪️ $150,000 on Thunder +6.5 -185
▪️ $75,000 on Thunder +5.5 -160
▪️ $50,000 on Thunder +4.5 -150
▪️ $35,000 on Thunder +3.5 -130
▪️ $20,000 on Thunder +2.5 -118
▪️…
Victor Wembanyama and the Spurs had different plans. After they became the second team in NBA playoff history to lose a game they started with a lead of at least 15-0 in Game 3, they raced out to a 23-8 lead. The difference this time was that the Thunder never took the lead during the final 44 minutes of play, leaving the series tied 2-2.
The loss ended the ladder bettor’s sharp streak, during which numerous days of six-figure profits were racked up.
BetMGM reported the user won $466,718 from $775,000 in wagers during the New York Knicks’ historic Game 1 comeback against the Cleveland Cavaliers. The bettor followed that up with $176,883 in profit from $300,000 in Game 2 and $217,172 in new funds from a $350,000 stake in Game 3.
Earlier in the playoffs, the bettor won $419,641 from $225,000 in tickets during the conference semifinals matchup between the Detroit Pistons and the Cavaliers and $291,860 from $190,000 backing the Thunder in the conference semis against the Los Angeles Lakers, among other prolific wins.
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Thunder still lead future odds
With their series now tied at two games apiece, the Thunder still find themselves in the driver’s seat in NBA Finals odds.
Heading back to OKC for Game 5 on Tuesday, the Thunder are -115 to win the Finals. That’s the longest their odds have been since before the playoffs began, although it is still comfortably ahead of the Knicks (+260), Spurs (+275), and Cavaliers (+25,000).
The Thunder are also -210 to win the West, while the Spurs are only +170. Those odds translate to a 67% implied probability that the Thunder will find themselves back in the Finals for the second straight season.
OKC is a 5.5-point favorite in Game 5 and -200 on the moneyline. They’re 6-4 against the spread as a favorite in the playoffs, although they’re only 1-1 against the Spurs. They also lost six of nine games against the Spurs straight up dating back to the beginning of the regular season.
NBA teams that win Game 5 in a 2-2 series have won the series more than 82% of the time, according to Spurs analyst Dan Weiss. That heaps even more pressure onto both teams, who have already produced one of the best series in recent playoff history.
