An Iowa man bet just over $300 on a loophole he found in a sportsbook's own rules. His bet should have paid out $14 MILLION. The company canceled it and sent his money back instead.
– Nicholas Bavas, a bettor from Iowa, found what he believed was a near-guaranteed exploit in how DraftKings priced certain wagers.
– He placed roughly $300 across bets structured to profit no matter the outcome, if DraftKings' own odds and rules were taken at face value.
– Had DraftKings paid out as the bets were technically written, Bavas stood to collect more than $14 MILLION.
– Instead, DraftKings unilaterally voided the bets and simply refunded his original stake, citing its house rules about pricing errors.
– Bavas sued in a 39-page breach of contract complaint, arguing a bet is a contract, and if DraftKings accepts it, it owes what it promised.
– His attorney said DraftKings gave no real explanation beyond telling him the bet wouldn't be honored.
– The case was moved from Iowa state court into federal court in Des Moines.
– As of the most recent public reporting, the case remains in litigation, with no public ruling yet on whether Bavas is entitled to any of the $14 MILLION.
A $300 bet built entirely around the sportsbook's own rules should have paid him more than most people make in a decade. The company just canceled it and mailed his money back.
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