Rays-Brewers World Series: Why sportsbooks are bracing for huge losses
ST. PETERSBURG, Fla. - A $100 preseason bet on the Tampa Bay Rays could turn into an $8,000 profit. Their unlikely World Series matchup with the Milwaukee Brewers has some sportsbooks bracing for massive payouts.
Preseason betting odds
What we know:
Both teams entered the season as long shots to win the championship. According to DraftKings, Tampa Bay opened at 80-to-1 odds, ranking 22nd out of 30 MLB teams, while Milwaukee started at 35-to-1, ranking 14th.
A $100 preseason wager on the Rays would net an $8,000 profit if Tampa Bay wins its first title. If the Rays capture the championship, they will tie the 1991 Minnesota Twins for the longest preseason underdog to win a World Series, according to SportsOddsHistory.com.
Sportsbook financial risks
What we don't know:
Officials have not yet determined the exact total dollar loss sportsbooks will face across all betting markets once the series concludes.
At Hard Rock Bet, Florida's only authorized online sports betting provider, 21.2% of in-state World Series futures tickets backed the Rays, compared to less than 8% in other states. However, bettors backing Milwaukee are wagering more than double the average Rays wager, creating a financial bind for the operator regardless of which team wins.
Series game lines
By the numbers:
Heading into Game 1 in Milwaukee, the Brewers are favored on the moneyline at -164, while Tampa Bay sits at +135. For the overall series, Milwaukee is a -160 favorite and Tampa Bay is a +140 underdog.
The Game 1 over/under is set at 6 runs, with pitchers Drew Rasmussen and Jacob Misiorowski projected to take the mound.
The Source: The information in this story was gathered from official sportsbook wagering data from Hard Rock Bet, BetMGM and DraftKings, along with previous reporting on FOX 13.