- This topic has 39 replies, 17 voices, and was last updated 18 years, 11 months ago by
.
- Posts
Harry ‘the dog’ Findlay won another million yesterday when he won the Raceo jackpot.<br>He had to select 8 winners and one of his lines included<br>Aqmaar<br>Classic Encounter<br>Echelon<br>My Paris<br>Mujood<br>Cockney Rebel<br>Malcheek<br>Beaver Patrol.<br>Under the rules the person who introduced Harry to Raceo collected a cool £40k
I have strong reservations about Raceo however.<br>Timeform (betfair) are involved with this company and whilst the commision structure on betfair is clear it certainly is not the case with Raceo<br>The take out is 38% they say 20% goes into distrubution and commission.<br>That leaves 18% but they say they give back to racing half whats left over so thats 9% but they dont say what happens to the other 9%.
They refuse to state these vital figures as well.<br>Number of total bets in pool.<br>Total rollover.<br>Number of tickets running on after each leg.<br>Final dividend and the number of winners.
<br>The general idea (they state) is that its a 8 horse jackpot designed for small time punters.<br>Yeah thats why the likes of Harry Findlay were playing!<br>
(Edited by Seagull at 10:15 am on May 6, 2007)
site is<br>http://raceouk.com
results for 4 may show<br>pool 8 no winners all rolled over (how much ?)<br>
(Edited by Seagull at 10:18 am on May 6, 2007)
Raceo races have only eight outcomes. On the website the horses are ranked from 1 to 7 and the rest as ‘o’ for outsider. If you select one outsider, you get the rest chucked in too. I would hazzard a guess that his lines included the outsiders in the Guineas and the 6f sprint.
Wouldn’t imagine there are many. Hilariously the divident for 6 out of 8 winners in the week on the 50p game was 89p.
I think it is unfair to make direct comparisons TDK.;) As the unit stake for the bet is 4 times higher for the Scoop 6 than for the bet the other day, surely it is more like the equivalent of getting £3.56 for winning the scoop 6. :biggrin:
TDK<br>I for one dont think Harry (or even his close mates) play and I think its all some scam to get some free publicity.
The Raceo company are banned from advertsing in this country as they are unlicensed and based in Kahnawake which is in Canada but they have got round this to a certain extent by getting snippets about them published in The Daily Star.:biggrin:
From The Racing Post article they admit that at one time recently there were just between 400-500 people playing per week. <br>So how can they have enough in the pool to pay Harry out?<br>They also admit that punters stakes still account for the minority of the pool and the company admit putting the majority of the money into the pool.
What I find alarming is some of the names behind this mob who include David Sief the current chairman of Newbury racecourse and former BHB and Tote director,<br>Julian Richmond -Watson is a jockey club member and a senior steward and a BHB dircector, Robert Waly-Cohen is also involved but he his also a director of Cheltenham racecourse, Henrietta the Dowager, Duchess of Bedford and owner of the Bloomsbury Stud is also a backer as is Jim Mc Grath the Timeform director and Jockey club member.<br>Surely there is some sort of conflict of interest with this unlicensed and offshore pools company and our British racing establishment that they also collect fees and expenses from.<br>Surely they should be in no conflict with The Tote who do actually pay into Britsih racing.<br>
if he has won £1m on RaceO, their rules seem to say that it will take him 16.66 years to get all of it paid – unless apparently he closes the account:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
5.11…….there are minimum and maximum limits on the amounts that you can withdraw …..
5.11.1 Withdrawal by cheque bank draft: withdrawals by cheque bank draft must be at least £10 and must not exceed £5,000 over a 30 day period….
5.11.2 Withdrawal by wire transfer: withdrawals by wire transfer must be at least £25 and must not exceed £5,000 over a 30 day period…..
5.11.3 Withdrawal by credit card: currently no withdrawal by credit card is possible.
5.11.4 Withdrawal by debit card: withdrawals by debit card must be at least £10 and must not exceed £5,000 over a 30 day period.
5.12……when you close your ESS Account you will be entitled to withdraw the returnable funds within it.<br><<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
<br>……and to cap it all:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>><br>5.16 – In order to make a withdrawal of over £5,000 in any thirty day period, including the receipt of winnings over this level,   [ in addition to £5k winnings you can also withdraw up to an additional £15k every 30 days of stake money you’ve previously deposited with them ]   physical verification of identity is required in the form of a copy of your passport or similar document and a copy of a utility bill containing your name and registered address……  <br><<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
best regards
wit
(Edited by wit at 10:05 pm on May 6, 2007)
It’s on the Sporting Life website, so it must be true! Click here Sporting Life – news
(telephone ringing)<br>Hello Paul hows things going?
Yes ok Harry thanks for calling what Paul Nicholls horse is expected to win today then?
No I have a far better way of making money than lumping on those nags. I’ve read about this new website where they say they ‘can generate jackpot prize funds with the power to change peoples lives’ you dont even have to name any horses to win its so easy
That sounds cool Harry can you put £2.00 on for me then?
Yes you are a good mate of mine thats ok. I won 89 a few weeks ago
Nice one you buying another horse with Paul Barber with the money then?
Not 89 grand you plonker!
Well £89 quids all right at least it fills the motor up.
No it was 89 pence but I still won.
Your such a diamond geezer Harry! Will you use the winnings to pay back a bit of what you owe to Charlie Miller, Brian Clarkson and former bookie  John Poulton at Hove dogs when they let you bet on tick then?
line goes dead
(Edited by Seagull at 7:47 am on May 7, 2007)
seagull, you know the rules, call bets on bow, gets beat,<br>disappear for 6 months, come back debt forgotten. how dare you front me up now
Barry yes but the layers have not forgotten.<br>(hows mark green by the way I have not seen him for ages)
TDK the site does state the £1million quid was won again yesterday bit like the buses you wait ages and they all come along at once.<br>On the Sport newspaper website they have a story about a lady that gave birth to an 8lb haddock.<br>I was a bit dubious at first but as its on a website it must be true!
I still think that likes of Jim McGrath and others that are involved with this mob should resign the positions they hold with our racing establishment.
I know that some people will allow their name to be associated with anything but overall they all know the price of everything and the value of nothing.
I think betfair should not allow the timeform race cards to be used by this site.
This is an unlicensed operation in this country that is run from some Mohawk Indian reservation with no proper accounting of where punters money is going.
They are not paying any money towards British racing and probably never will.
All tote and all pools companies that operate in this country are well regulated but there can be no regulation with companies such as this.
The Racing Post and other newspapers could serve their readers by writing about companies such as this.<br>I wont hold my breath though.
If one goes on to the Kahnawake website there are over 300 gambling sites that include gambling/bingo lottery websites that one can join from this country (but not from the U.S.A) all falling out of any regulation by any in this country that gets involved with them.
No doubt Harry will win another million next week but he wont be getting a penny from me.<br>
seagull,
give David Ashforth his due, he did write about them in some detail in the RP:
http://www.raceouk.com/default.aspx?Tab … 4719D17ACD
<br>there’s also this bit from Race-O’s apparent spiritual home in New Zealand:
http://www.nzherald.co.nz/topic/story.c … d=10425873
<br>anyone know why Rob Hartnett left them ?
<br>best regards
wit
wit<br>Yes I did read that article but what I am looking for is why some members of the jockey club and leading lights in our racing establishment feel the need (or greed) to become involved.
If there was some sort of licencing from the Tote for a pool such as this (which will never happen) and all the accounts were open to scrutiny then fair enough.<br>At the moment they are not.<br>
I can also vouch for the fact that Mr Findlay and his mysterious friend are bona-fide RaceO-8 winners. I’m one of the few who have regularly played the game (it is a game according to their definition btw, not a bet), and although it’s a terrific concept the operation seems to be farcical at times.
I believe I was one of the first people to win £500 on the game but as wit pointed out, withdrawing it wasn’t an option! I spoke to Harry about the bet a couple of months ago and told him I wasn’t sure about the prospect of getting paid but apparently he’s done his homework and felt it was a safe investment.
RaceO is, by all accounts, underwritten by some wealthy backers, particularly within the racing industry. The million pound prize fund is certainly not the result of significant rollovers although HF has certainly swelled the coffers in recent weeks. Even if there were issues with "welshing" on the bet, the embarrassment it would cause the racing community who stand foursquare behind it means that Harry won’t be left in the lurch.
- You must be logged in to reply to this topic.