When a sportsbook offers an obviously mistaken line....

[humdinger]

At the WSOP last year, when down to three tables, Pinnacle had a line up:

Will Greg Raymer win the WSOP?

Yes +900
No + 3600

I unloaded on the +3600 side. If he DIDN'T win, I'd score large.

I was contacted about an hour later by phone, saying it was a bad line, and my bet was cancelled. I then received an email saying my bet was cancelled.

Then my account was closed.

I was told that if I had emailed them, pointing out the incorrect line, they 'may allow' me to bet on it, if I was the first to bring it to their attention.

hd

[YoureToast]

About 8 years ago, at gotocasino.com, during the US Open, they had a match bet between Payne Stewart and David Duval (for about even money). Most of these bets were set between players starting at about the same time. In this case, Payne Stewart was through 9 holes and David Duval hadn't started, but the bet was still available. Payne was even through 9; the rest of the field was BLOWING UP. I put $1000 on Payne vs. Duval. Payne went on to shoot +1 (a phenomenal score that particular day). But I had to sweat out Duval's fantastic day, where he shot a +2 or +3. My bet was good.

I can't believe Pinnacle would close your account; thats just BS.

[ QUOTE ]
At the WSOP last year, when down to three tables, Pinnacle had a line up:

Will Greg Raymer win the WSOP?

Yes +900
No + 3600

I unloaded on the +3600 side. If he DIDN'T win, I'd score large.

I was contacted about an hour later by phone, saying it was a bad line, and my bet was cancelled. I then received an email saying my bet was cancelled.

Then my account was closed.

I was told that if I had emailed them, pointing out the incorrect line, they 'may allow' me to bet on it, if I was the first to bring it to their attention.

hd

[/ QUOTE ]

Funny, I was the first to alert them to the bad line and I got this reply from the opposing bettor (via Mark at matchbook):

Mark –

Thank you for trying to fix this mess. Pretty brutal error. Looks like at a couple of guys so far are being cool about it, at least, which is great.

About the settlement offer of $1,000, does this guy understand he’s offering to “settle” at essentially 100 cents on the dollar? I’m just asking, because sometimes people get a little confused about how to calculate equity in situations like this. If someone wants to take a really hard line, fair enough… but offering to settle and then producing a figure like that seems like maybe there’s some confusion.

We’re willing to give up some ground here, but we’d like to see some compromise. Also, could we arrange to transfer some of our commission dollars to a client, as a soft-dollar means of settlement?

Feel free to pass along any of this note to the client in question.


All the best,

(xxxx)

To which I replied:

Hi Mark,

Thanks for the reply. I'm not certain why I'm perceived as not "being cool" about this. Though I'm not inclined to change my bet, I'm not sure why not changing is automatically labeled not being cool. I'm offering to take a number near $1,000 (I didn't say exactly $1,000 before) in a tradeable balance, as well as continuing to trade on the exchange for at least 3 weeks without withdrawals, during which time I could easily lose the entire amount. This is a win-win for the trader and the exchange. I am making compromises here, independently and indirectly as requested by the opposing trader.

Considering that I am willing to make concessions, it's unfortunate I'm being branded a jerk with a "hard line" or whatnot. I'm willing to listen to any reasonable offer, of which he hasn't made one and I already have.

Thanks,
Scott

And additionally:

Mark,

I wanted to add another point. Considering I brought the issue to Matchbook's attention in the first place and potentially saved this opposing client, or others, even greater losses on Indy +820, as opposed to putting even more of my own money on the wager, I am pretty surprised by this response. Perhaps he isn't aware of this.

Scott

[YoureToast]

This guy better make a deal with you soon. I think you're pretty close to calling all deals off, and you should be.

[ QUOTE ]
This guy better make a deal with you soon. I think you're pretty close to calling all deals off, and you should be.

[/ QUOTE ]

Earlier, I told them to get back to me sooner than later as I'd be making a wager on Houston +850 for $150 eventually. I think this whole thing is choreographed but hey whatever. I'm the "hard line" jerk not "being cool". lmao

Whipsaw, if you're out there, send me a PM please. I owe you something (that referral bonus they don't give lol) if this works out in the end.

[BaronVonCP]

I hope you don't get hosed on this for being a stand up guy.
I had to deny their request to cancel the bet. And that was that.
You can tell them that I was ready to go all in on it, and if you didn't inform them I woulda been all over it.
They need to cut you some slack.

[ QUOTE ]
I hope you don't get hosed on this for being a stand up guy.
I had to deny their request to cancel the bet. And that was that.
You can tell them that I was ready to go all in on it, and if you didn't inform them I woulda been all over it.
They need to cut you some slack.

[/ QUOTE ]

Baron, PM'd you.

For those who care, I settled with matchbook on $675 in profit and $300 worth of commission credits. Had I done nothing, I could've profited $1,050, however I wanted to put the $300 of Indy/Hou bet layouts to work immediately this weekend as it looks to be another large NFL betting week.

Assuming their rules and regs don't change much, this is yet another reason to go with exchanges over sportsbooks. Whip and Baron, please PM me with your Neteller or Paypal account #s, I want to send you each $50.

[youtalkfunny]

For all of you who read last month's thread, and are waiting for me to charge into this discussion: I don't know a damn thing about these exchanges, so I'm abstaining from this topic.

[chaz64]

Hey Baron,

Just curious, did they pay off on your bet?

When I checked Pinny last week they had Indy at +14. I thought my eyes were bad. I made a small bet, and after that when I went to check the ML it was offline - guess I caught them just before they realized their mistake.

I expected an e-mail form them cancelling the bet but they let it stand and paid it off (maybe because it was not a large wager).