An improbable run by both the Arizona Diamondbacks and Texas Rangers to the 2023 World Series resulted in huge payouts and potential profits for anyone who bet on the teams at the start of the season.
After five games in the best-of-seven World Series, the Rangers were crowned Major League Baseball champions, a first in franchise history.
What Happened: The Texas Rangers defeated the Arizona Diamondbacks 5-0 on Wednesday night to win the 2023 World Series, winning the series four games to one in the best-of-seven series.
This marked the first World Series win in franchise history for the Rangers, a team that is 52 years old. Prior to the win, the Rangers were the oldest MLB team without a World Series championship.
The Rangers entered the MLB Playoffs as an underdog and swept the Tampa Bay Rays and Baltimore Orioles. The Rangers defeated state rivals the Houston Astros in seven games in the American League Championship Series before facing off against the Diamondbacks in the World Series.
In the five World Series games, which were broadcast on Fox Corp. FOXFOXA-owned Fox, the Rangers outscored the Diamondbacks 26 runs to 22.
At the start of the 2023 MLB season, the Rangers were 50-to-1 favorites to win the World Series. Its World Series opponent, the Diamondbacks, was 125-to-1 to win the World Series prior to the season.
As Benzinga previously reported, the Diamondbacks were the third biggest underdog by betting odds to reach the World series since 1985. The Rangers ranked as the ninth biggest underdog to reach the World Series over the same time.
With the win, the Rangers are the third biggest underdog from the start of the season to win the World Series since 1985.
Bettors who backed the Rangers at the start of the season could have made a huge profit. A $100 bet on the Rangers to win the World Series would have profited $5,000.
A bettor with FanDuel, a unit of Flutter Entertainment PDYPY, placed a $25 bet on a Diamondbacks, Rangers World Series matchup back in June. The $25 bet had odds of +19,000, netting a profit of $4,750.
Another bettor at FanDuel placed a $10,000 wager on the Diamondbacks to win the World Series on the last day of the MLB regular season. The bet would have paid out $1 million if the Diamondbacks won the World Series.
Sports reporter Darren Rovell shared that a bettor with Caesars Entertainment Inc CZR placed a $200 bet back on June that the Rangers would defeat the Diamondbacks in the World Series. The bet paid out a profit of $80,000.
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The George W. Bush Connection: Before he was president of the U.S., George W. Bush was a part-owner of the Texas Rangers.
In 1989, Bush was among the backers who took a controlling interest in the team and was named a general partner. In 1989 and 1990, Bush invested a total of $600,000 in the ownership stake, as shared by ESPN. He would later add $6,302 to the stake for a total of $606,302.
Bush later went on to run for governor of Texas and when elected he resigned as the general partner of the team, but kept his 1.8% equity ownership in the team. Bush also had a 10% bonus if the team was later sold.
In 1998, Tom Hicks bought the Rangers for $250 million, which at the time was the second higher price paid for an MLB team. Bush received $14.9 million for his original investment.
Bush threw out the first pitch at the first game of the 2023 World Series and remains a Rangers fan.
"As a Texas Rangers fan, I am thrilled for Texas Rangers fans tonight. I congratulate the owners, the managers and coaching staff, the front office, and the entire organization. And of course, I congratulate the players of this awesome team on winning the first World Series in our club's history. This was baseball at its finest, and Laura and I are proud of this team," Bush said in a statement.
What's Next: With the 2023 World Series completed, baseball fans will turn their attention to the 2024 MLB season, while other sports fans will turn to other sports.
Here are the current odds from DraftKings Inc DKNG for MLB teams to win the 2024 World Series:
Atlanta Braves: +700
Los Angeles Dodgers: +750
Houston Astros: +900
Texas Rangers: +900
Philadelphia Phillies: +1100
New York Yankees: +1300
Baltimore Orioles: +1600
San Diego Padres: +1600
Toronto Blue Jays: +1700
Boston Red Sox, Tampa Bay Rays, Seattle Mariners, New York Mets: Tied at +2000
Ranking outside the top 10 are the Arizona Diamondbacks listed at odds of +2500.
Sportsbook PointsBet made an interesting observation that could be of note to NFL fans and bettors.
"The Texas Rangers just won their first World Series…The Denver Nuggets won their first NBA title in June…The Vegas Golden Knights won their first Stanley Cup in June…Is the NFL up next?" the post asked.
As previously shared by Benzinga, there are four teams that have never been to a Super Bowl. The teams are the Cleveland Browns, Detroit Lions, Houston Texans and Jacksonville Jaguars.
Along with the four teams that have never been to a Super Bowl, there are also eight teams who have been to the game but never won. The list includes the Buffalo Bills, Cincinnati Bengals, Minnesota Vikings, Atlanta Falcons, Los Angeles Chargers, Tennessee Titans, Arizona Cardinals and Carolina Panthers.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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