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A BetMGM user won nearly half a million dollars Tuesday thanks to the New York Knicks’ improbable overtime victory over the Cleveland Cavaliers in Game 1.

The user laddered $775,000 in wagers on five different Knicks spread lines, resulting in $466,718 in winnings.

• The bets ranged from $75,000 on Knicks -2.5 to $70,000 on Knicks -6.5.
  
  
• This same bettor won several spread ladders for five- and six-figure payouts earlier in the playoffs.
  
  
• ESPN Analytics said the Knicks only had a 0.1% live chance to win Tuesday.

The Knicks trailed the Cavs by 22 points with less than eight minutes remaining in regulation. Teams that had faced a deficit of that size at any point in the fourth quarter were 1-594 since 1997-98.

With 7:49 remaining, the Knicks had fallen to a 0.1% chance to take the Eastern Conference finals opener. New York went on a 30-8 run from that point until the end of the quarter before eventually stealing the game in overtime, 115-104.

According to ESPN Analytics, the Knicks win probability was as low as 0.1% 🤯

Teams trailing by 22 points in the fourth quarter of a playoff game since 1997-98 were 1-594 entering Tuesday. pic.twitter.com/vk7NUIilGQ

— ESPN Insights (@ESPNInsights) May 20, 2026

While the Knicks took a morale-boosting series lead in front of their home fans, perhaps nobody secured a bigger win than the BetMGM user. Their five-staged bet slip required the Knicks to win by at least seven points to maximize the winnings, meaning they needed every ounce of magic in the comeback to get there.

The Knicks went on to win the overtime period 14-3, giving them an 11-point margin of victory. 

The bettor’s wagers included:

• $75,000 on Knicks -2.5 (-210)
• $350,000 on Knicks -3.5 (-185)
• $185,000 on Knicks -4.5 (-160)
• $95,000 on Knicks -5.5 (-140)
• $70,000 on Knicks -6.5 (-120)

BetMGM has not confirmed the identity of the big-bank bettor - but they did offer a clue.

Earlier in the playoffs, BetMGM shared that one user won a series of similarly laddered spread bets for multiple five- and six-figure payouts. 

In Game 2 of the conference semifinals between the Detroit Pistons and Cavaliers, the user risked $225,000 for a total payout of $419,641.58. They followed that up on the same day by placing $190,000 in bets on the Oklahoma City Thunder to cover against the Los Angeles Lakers, claiming $291,860.10 after the defending champs won by 18 points. 

BetMGM did not provide a name for the bettor, but he was referred to as “our ladder bettor” in the tweet promoting the wagers for Tuesday’s matchup.

No ladder wagers have been shared for any upcoming games. That lines up with previous rounds, during which the bettor only laddered spreads for select contests. Plus, they may still be recovering from the sweat of the Knicks’ historic victory.

.@nyknicks were down 22 points in the 4th quarter

New York comes back to win 115-104 in OT.

A bettor at @BetMGM had $775,000 on Knicks to cover in Game 1:

▪️ $75,000 on Knicks -2.5 -210 ✅
▪️ $350,000 on Knicks -3.5 -185 ✅
▪️ $185,000 on Knicks -4.5 -160 ✅
▪️ $95,000 on…

— John Ewing (@johnewing) May 20, 2026

The conference finals have already provided two of the most exciting games of the year, and both needed extra time to produce a winner. 

While the San Antonio Spurs find themselves up 1-0 over the Oklahoma City Thunder, OKC is still a +130 leader in NBA championship odds and -115 to win the West. The Spurs are +150 to win it all and -105 to advance to the Finals.

The Knicks are +400 to win the NBA Finals and strong -450 favorites to advance past their ongoing series. The Cavs have the longest championship odds on the board at +4,000 and are +350 to eliminate New York.

This article originally appeared on Covers.com, read the full article here and view our best betting sites or check out our top sportsbook promos.