Rays-Brewers World Series: Why sportsbooks are bracing for huge losses

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 oddsBoth 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 risksOfficials 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