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Stupid bookie !!!

Discussion in 'General Discussion Forum' started by Kiwi Eagle, Aug 17, 2009.

  1. Kiwi Eagle

    Kiwi Eagle Moderator Staff Member 2016 Tipping Competitor

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    Heard this morning, that some bookie in the UK, after the 2nd round of the golf, decided to pay out all the people that had money on Woods, because he simply doesn't lose from there. Paid out 2.1 million pounds hahaha

    Bet he is on suicide watch at the moment
     
  2. Chip and Chase

    Chip and Chase True Supporter Staff Member Administrator Premium Member 2016 Tipping Competitor

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    Of course he was Irish.

    Irish bookmaker pays hefty price for early PGA payout on Tiger
    From correspondents in London
    August 17, 2009 An Irish bookmaker was left red-faced - and almost $A2.5 million out of pocket - after paying out early to gamblers backing Tiger Woods to win the US PGA championship.

    Paddy Power was so sure that Woods would triumph that it paid out  £1.25 million ($A2.48 million) before he teed off for his third round, when he was four shots ahead.

    But the golfing legend was beaten by South Korea's Yang Yong-Eun, ranked 110th in the world, in one of the biggest upsets in golfing history.

    Yang became the first Asian to win a major.

    Paddy Power said its mistake was the worst of its kind, and that nearly 5000 customers had received a lucky payout.

    “It takes a special kind of dimwit to turn what should have been our best ever golf result into our worst,'' said a spokesman.

    “Paddy Power punters are obviously the big winners here and have made like bandits getting paid out on Tiger as a winner.''

    Agence France-Presse
     
  3. ManlyBacker

    ManlyBacker Winging it Staff Member

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    Paddy Power regularly pays out early.  It wouldn't surprise me if they do it it as part of their marketing budget. This payout has probably saved them 10 times this amount in publicity, along with gaining a pile of new customers.
     
  4. clontaago

    clontaago Well-Known Member

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    I'm with MB thats a spin for sure. The best sting on a bookie ever would almost have to be this one:

    Of all the stings in the history of Australian racing, this was surely the most ingenious. To understand just how clever, let’s first establish a few key facts:

    • Australia has three separate TAB pools – SuperTAB (Vic, ACT, Tas, WA), NSWTAB and UniTAB (Qld, SA & NT).
    • UniTAB is the weakest of the three, with the smallest pools in any given race.

    • With all TABs, the odds on lowly midweek races fluctuate constantly. Basically, the more money invested on a runner, the shorter its odds.
    Instead of offering their own odds, many licensed bookmakers offer punters the exact equivalent of the final odds from either, or all, of the three TABs. But money invested with bookies in this way doesn’t go into the TAB pools. So the odds aren’t affected, no matter how big the bet.

    Now for the really clever bit. Mindful that Adelaide bookie Curly Seal would pay the equivalent of TAB odds regardless of how much they bet, Hayson and his pals set about manipulating the odds of UniTAB – the weakest TAB – to their advantage. Surprisingly, this wasn’t hard to do. They settled on a greyhound race on the Gold Coast on December 20, 2005. In such races, the UniTAB pool is usually just a few thousand dollars.

    The favourite in the race was a stayer called Lucy’s Light, which had just five rivals to contend with, and was paying as little as $1.04 for each $1 invested.

    Seconds before the jump, the punters placed $16,000 on each of the other five dogs. Their odds all shortened dramatically, while Lucy’s Light drifted out to $13. Meanwhile, the syndicate invested more than $60,000 with bookmakers on Lucy’s Light, which duly streaked away from the field to win easily, despite a sluggish jump.

    How much they won:
    A perfectly legitimate profit in the vicinity of $700,000, courtesy of more than $60,000 invested at odds of $13, minus the $80,000 they “deliberately lost” in manipulating the odds.
    The aftermath: Unsure of the scheme’s legality, Curly Seal took nearly two years to pay his debts. He eventually settled out of court
     

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