Australian Bookie Pays Out on Cox Plate Before it Even Happens

[justindew]

Originally Posted by Scav

Um, read the article.

I did. It referenced one guy's bet. And it was the author of the article who stated that the guy gets to collect $77,000. Until I see a quote from a bettor or the website stating that they pay out on full odds, I'm calling BS.

[brockguy]

They do this a lot over here! It's basically spending the money on an advert! They also assume most of the people who collect their cash will bet it back. They get paid at whatever the odds were when the bet was struck!!

[blackthroatedwind]

Sounds like very clever advertising to me. Relatively speaking, $250K is nothing.

[Riot]

Originally Posted by brockguy

They do this a lot over here!

Interesting.

[robfla]

Originally Posted by justindew

I did. It referenced one guy's bet. And it was the author of the article who stated that the guy gets to collect $77,000. Until I see a quote from a bettor or the website stating that they pay out on full odds, I'm calling BS.

that is full odds!!! - NO BS

Those are the odds when he placed the bet. Some people, I'm sure, have different odds ( like any future bet ) and will get paid according to the odds they bet at.

[hockey2315]

I think it's pretty ingenious. Obviously these guys aren't stupid. . . they've done the math. It's good advertising and they also probably want to free up that $250,000 so it can be wagered again.

[jms62]

Originally Posted by hockey2315

I think it's pretty ingenious. Obviously these guys aren't stupid. . . they've done the math. It's good advertising and they also probably want to free up that $250,000 so it can be wagered again.

Really is genius. How many of those folks that got 11-1 are going to plow it all back on the can't miss at 1.5 to 1? And we know there are no can't misses.