pete Posted October 7, 2020 Share Posted October 7, 2020 https://www.racenet.com.au/news/punter-collects-621840-windfall-after-mistake-20201007 Quote Link to comment Share on other sites More sharing options...
VC! Posted October 7, 2020 Share Posted October 7, 2020 The maximum payout that Sportsbet need to pay to this customer is $10,000 his account may well show 600k+ but when he goes to withdraw it???? Quote Link to comment Share on other sites More sharing options...
mardigras Posted October 7, 2020 Share Posted October 7, 2020 Also, either the punter is a massive loser, or they a) wouldn't accept the bet or b) would have laid off a decent amount on the tote - which would have resulted in a quinella dividend of a huge amount less than what it was. As the tote pool was tiny. It smacks of a advertising 'post' to me. Quote Link to comment Share on other sites More sharing options...
pete Posted October 7, 2020 Author Share Posted October 7, 2020 It says this in the article. I have no knowledge of the truth of the statement: Now when you consider there was only $11,831 in the NSW quinella pool he’s actually betting against himself you’d think, but no no no!!! He’s bet with one of the biggest corporates in the world and instead their system holds the entire amount and they don’t bet anything back. Quote Link to comment Share on other sites More sharing options...
mardigras Posted October 7, 2020 Share Posted October 7, 2020 Which means one of two things a) he is a massive loser or b) they betting systems are simply throwing money away. If you can put massive amounts on an exotic - and it doesn't affect the price, that can easily lead to price fixing. Put heaps on a quinella that you don't think will come in on the tote, put high units on the quinella you believe will give you the result. Inflate the tote price of the quinella, giving you all your tote bet back along with massively more that otherwise. Even if the quinella should be paying around $5. Put $20k into the pool just prior to start where the pool is small (say under $5k). The expected $5 div becomes $25. Put $20k on the quinella with the bookie. $20k becomes $500k (less $20k into the tote) = $480k. Less bet = $460k. You've just converted a $5 expected dividend into $24. 1 Quote Link to comment Share on other sites More sharing options...
pete Posted October 8, 2020 Author Share Posted October 8, 2020 The comments on the article are gold. My apologies for posting initially. "nice PR puff piece for one of Racenet's main advertisers....yeah right. Either the guy concerned was a complete victim who has lost tens of thousands to SB so their automatic bet liability alert was not set on his account (unlikely), or this is a typical bullshit yarn spoon-fed by the corporates once in while to make everyone out there in mug-punter land think that this could actually happen to them. " "Disappointed to read this Stephen, your credibility now about par with Donald Trump's." Quote Link to comment Share on other sites More sharing options...
Turny Posted October 8, 2020 Share Posted October 8, 2020 Didn't notice his ticket was $6000 rather than $60, yeah right. Race net bookmaker advertising they toss out these BS stories on a regular basis, no truth in it Quote Link to comment Share on other sites More sharing options...
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