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Rory, I’m not saying the liability managers look at individual bets but the system they now using data mining technology can spot betting patterns a human cannot. I have seen the back office systems in a few of the online bookmakers over recent months and I would not attempt to have a few grand on an outsider with the same firm.
But there is a rule and bookies can fall back on it. Mecca definately had it when they were on the go. If it can be proven you have bet a horse in this fashion the maxiumum price shall be 8/1 or whatever. They can’t not pay you, but they can reduce their liability by implimenting this law..making your touch look at little wimpy and making you wish you had just went to the track and stuck yer lot on.
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every manager checks every bet……….100 quid on and at the expected price of 40/1 for example you would expect to take 4,000 pound out the ring. All they do is send back 200 quid along with all the other bookies you have tried to sting and take all the 40’s the 20’s the 10’s and the 5’s. Horse starts at 3/1 and you get 400 quid are as sick as a parrot and they are only too happy to pay you out…."Come again Sir"
Fist of fury, you’re not making yourself very clear here but if you’re saying what I think you’re saying (ie that the bookies don’t have to pay you out at the price that the bet was laid at) you’re not correct. If the odds were clearly false at the time [ie. a palpable error] then they are within their rights to pay you out at the correct price. If, however, you are on a gamble with the price taken, they cannot pay you out at lesser odds unless they suspend payment on the result which they can only do if they have good reason to believe rules have been broken or they have been conned.
The second part I have quoted is true if you back a horse at SP – however, show me a serious punter who is gambling a job horse who takes SP! It doesn’t happen [unless the punter is stupid] as everyone is fully aware that the bookmakers can manipulate the SP by backing the horse in question.
No offence but I am not wrong.
There is more than one way to skin a cat.
Back then you could get away with betting horses at SP and get a lot more out of it than you would running around the course trying to get 10,000 pounds on a novice hurdler. Your commitment was less and the rewards were higher.
1000 pounds that doesn’t get back to the course at 33/1 you win 33 grand.
If a horse was around 5/1 I could get 3 or 4 grand on and be guaranteed not one cent would get back. I would have got 3/1 on average at the track.
Much depend on what you know that other people don’t know on how you place bets.
How much would you have to put on to win 20 to 30 grand in a bad novice hurdle at the track ?
If it’s a competitive handicap hurdle the you can help yourself as they are much harder to win and the price stands up better to heavy bets.
Anyway, Mecca introduced the rule to protect themselves against multiple betting
Now the rule is still there but slightly disguised. 2 words cover it "Price Rigging
Basically if you ran round a couple hundreds William Hill shops and put 10 quid on in each they had a ruling that they could restrict the price.
Mecca’s price was 8/1 even if the horse started at 50/1. It was multiple betting on the same horse or greyhound to attempt to manipulate the odds, or something like that.
You run about putting tenners on like we did that is exactly what you are attempting to do. If "a face" (someone in the know) walked into Hills and asked for 20,000 pounds on at 20/1 he would get 100 quid on and the rest at SP which would be cut to 6/1 or less in a flash.
If you got past their security with 200 tenners in 200 of their shops and the horse won at 20/1 cos nothing got back to the course, they have the right not to pay you and they would not. You have tried and succeded to rig the price and you would have a very long court case ahead of you if you tried to collect, which you would lose.
Can you imagine all your guys turning up at court saying I never met him in my life?…..only takes one to say he asked me to go to 10 shops and put ten quid on the same horse in each and you have lost.
They were stung several times by people doing this to Con them to use your words. Nowadays you wouldn’t get paid a coin and would be sussed before your people got 1/4 of the way round the shops they were hitting.
Hope that explains it better to you.
That may have been the case years ago but now if a bet has been struck at a price in a shop*, unless the firm have serious cause to believe something seriously underhand is going on (or it is a blatantly false price so they can claim palpable error) they can’t just pay you out at a lesser price. They’ll be hacked off that an individual or group of individuals has got so many bets on and they will more than likely issue their managers with instructions about said people and future dealings with them but there is not a lot they can do about it if the bet is, to all intents and purposes, legitimate.
*different rules apply to setting up multiple and/or false accounts (under fake or other peoples names) on the internet and in call-centres as this is covered in the rules when opening an account.
As for the SP situation, that all relys on the information not getting out in the first place! If it did leak out, then the SP would be shortened dramatically by people backing it. Obviously that has more if an effect in todays world with the improved communication and technology we have but there still would have been some risk involved in times past if word got out.
Never mind all that cobblers.
For a small stipend, I am prepared to furnish members with all 8 winners at tomorrows Trodmore Hunt meeting.
Just PM me with your bank details before noon, and all will be revealed.
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