INDUSTRY FORUM

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  • mambaland

    http://newjersey.news12.com/story/39108476/man-says-fanduel-sportsbook-wont-pay-out-large-bet

  • sasmallen

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    @johnnyjakes said...

    If I go to Best Buy and purchase a TV, and the TV rings up as 1.00. They have to honor that.

    If it’s a obvious price mistake they don’t

  • jtkucheck

    @Pats7914 said...

    There is a procedure for books getting palpably unfair bets cancelled (and this probably qualifies), but in NJ the regs state the book can’t cancel unilaterally. They have to consult the NJ gaming division to get safe harbor to cancel the bet. If they didnt follow procedure, they’re going to have to pay out.

    Or they could just not pay the dude and anticipate he goes away because 99% of people won’t actually file a lawsuit over this or follow through on their empty threats.

  • bhdevault

    • Lead Moderator

    • Blogger of the Month

    http://www.espn.com/watch/player?id=24730158

  • lfn1992

    I am having a very hard time figuring out why the punter is somehow responsible for FD’s f-up.

    “Whoops… after that last-play Vikings TD over the Saints, that 750-1 odds was ‘obviously’ a misprice… Want some Minnesota Wild tickets as they play Vancouver instead?” cannot be right. I mean, you could do that as an excuse for any bad house beat.

  • bigez952

    @lfn1992 said...

    I am having a very hard time figuring out why the punter is somehow responsible for FD’s f-up.

    “Whoops… after that last-play Vikings TD over the Saints, that 750-1 odds was ‘obviously’ a misprice… Want some Minnesota Wild tickets as they play Vancouver instead?” cannot be right. I mean, you could do that as an excuse for any bad house beat.

    a 1 in a million hail mary vs. a 30 yard game winning field goal which get made at a league average of 95% are hardly comparable situations. FD wouldn’t have a leg to stand on if they tried to reverse something like the Vikings game whereas offering 750-1 odds on an event at will occur approximately 95% of the time would be a pretty obvious case of a computer glitch misprice.

  • Jvanspro

    He should get paid, just not the amount he thinks. The real odds net him about 20 bucks, that’s what he wins.

  • timusbr

    @lfn1992 said...

    I am having a very hard time figuring out why the punter is somehow responsible for FD’s f-up.

    “Whoops… after that last-play Vikings TD over the Saints, that 750-1 odds was ‘obviously’ a misprice… Want some Minnesota Wild tickets as they play Vancouver instead?” cannot be right. I mean, you could do that as an excuse for any bad house beat.

    Agree 100%, fan duel F’d up. they want to compete in the electronic age…then abide by the results. an offer was made and accepted, in my mind case closed. Sure its big money, but so is a casino business and profits. We DFS players know that FD’s computer system regular FU. Maybe some out of work programers/computer geeks can set them straight. Obviously a job should be open right now.

    Question, You are playing BlackJack in a new casino with new dealers. The dealers are making mistakes left and right, paying losers and trying to take some winning bets.

    What do you do
    A) help the dealer out and correct any mistakes
    B) just speak up when its your money

    What do you do when the pit boss gets the feedback from the camera and say’s..“We need to take $540 back because Joe here paid off when he shouldn’t”?

  • emnj69

    they should get out of the in game bets if they cant get it right and wont honor bets. I am not sure who would trust going forward that any in game bet is not subject to a computer glitch ….As a guy wanting to make bets it is not my job to examine each line to see if they are the result of a glitch…

  • bigez952

    @emnj69 said...

    I am not sure who would trust going forward that any in game bet is not subject to a computer glitch ….As a guy wanting to make bets it is not my job to examine each line to see if they are the result of a glitch…

    If you don’t think there is something odd that your getting 750-1 odds on if a 30 yard FG is going to be made which is successfully on average in the league 95% of the time you probably shouldn’t be betting on sports. People with their pitch forks are taking things to the extreme in thinking that any bet can be reversed as an error which is simply not true. This line was off by over 4000 times what it was supposed to pay out so it is pretty tough to agree the line was ever good. It is not like the difference of a line being put out at -500 when it was supposed to be -450 which they would just pay without issue. This error here is the difference of $18 which was the correct payout vs. $82,000 due to the computer error. This line was also only available for 15 seconds so this guy probably didn’t even realize the odds were wrong until he saw his ticket.

  • emnj69

    @bigez952 said...

    If you don’t think there is something odd that your getting 750-1 odds on if a 30 yard FG is going to be made which is successfully on average in the league 95% of the time you probably shouldn’t be betting on sports. People with their pitch forks are taking things to the extreme in thinking that any bet can be reversed as an error which is simply not true. This line was off by over 4000 times what it was supposed to pay out so it is pretty tough to agree the line was ever good. It is not like the difference of a line being put out at -500 when it was supposed to be -450 which they would just pay without issue. This error here is the difference of $18 which was the correct payout vs. $82,000 due to the computer error. This line was also only available for 15 seconds so this guy probably didn’t even realize the odds were wrong until he saw his ticket.

    it is not my job as a guy placing bets to verify their lines are correct-they have some crazy odds on future bets and have had them during in game bets too. How do I know what is a glitch and what is not? The state of NJ is the one that regulates this and it is their policies that must be followed and they have the ultimate say. This is bad business and now they will be put under the microscope. They should have just paid it off. I would suspect they have insurance as well to cover “glitches” I would also love disclosure on if there were any previous glitches that have happened where they benefited and did they return the money. As I said before if you screw up your bets or a lineup-you cant say hey my bad it was a mistake I will take my money back after the fact. I like FD and the sportsbook by metlife is a great option but they are only seeing the trees not the forest . The negative pr and now they will have the NJ regulators digging around.

  • emnj69

    if they are not equipped to properly handle in game bets and changing lines dont offer them

  • timusbr

    Its the job of the person placing wagers to notice something is not right and ponce on it…..
    From what I hear ….several did. Just because its a mistake by the company, doesn’t mean they can say….Hey wait that doesn’t count. They should not let a computer run the sportsbook then.

    I dont get why people want to back the casino on this one.

  • mtdurham

    I don’t know how exactly to feel about this.

    On one hand there needs to be some sort of protection in place for the sportsbook so they don’t accidently lose $50 million on a computer glitch one day. That type of liability might prevent them from offering live in-game bets or increase the juice across the board (which harms the collective sports betting public) to offset this type of liability…

    On the other hand there needs to be SOME sort of established rule of thumb here as to what the payouts should be in this type of situation. Where do you draw the line? If a bet shoulda been +120 but it accidently read +1200 is that too far? What about 3:1 vs 1:3 odds? I’m not really comfortable with sportsbooks just deciding on a case by case basis when it should payout and when it shouldn’t. That’s just a massive conflict of interest. I’m also not comfortable with state regulators as they stand to profit off the sports books profits generated, or taxpayer’s winnings… that’s a mild conflict of interest itself…

    I think something needs to be established…. Like let’s see what 5 other sportsbooks were offering on that line at the time…. let’s see what a neutral parties advanced odds algorithm shows the betting payout should be…. and then if it’s off by more than 3 standard deviations or more, or 200% or more…whatever the bet is ruled as an “error in pricing”…. that way a +140 bet that went off at +175 still has to payout, no questions asked. But a 5:1 bet that accidently went off at 5,000:1 is an “error” no questions asked.

    Lastly, I think the sportsbook should be REQUIRED to pay out a settlement in these cases… not just what they “think is fair” or whatever tickets/merchandise/memorbilia they happen to have in their storage closet that day. One day it’s box seats to the Giants, another day it’s a signed T.Y. Hilton helmet, and another day it’s replica Mardi Gras beads like the ones Reggie Bush wore during the post game Super Bowl Champion celebration in 2009.

    That’s a no go in my opinion. Something like the sportsbook is required to payout the lesser of $1,000 penalty or 5x the amount of the actual winning bet…. and give the guy freaking drink tickets and soup/salad bar passes for life in your sportsbook… Also he gets to make a $100 futures wager of his choice on a team to win the Championship in the sport he got screwed in.

  • infinite420

    @mtdurham said...

    I don’t know how exactly to feel about this.

    On one hand there needs to be some sort of protection in place for the sportsbook so they don’t accidently lose $50 million on a computer glitch one day. That type of liability might prevent them from offering live in-game bets or increase the juice across the board (which harms the collective sports betting public) to offset this type of liability…

    On the other hand there needs to be SOME sort of established rule of thumb here as to what the payouts should be in this type of situation. Where do you draw the line? If a bet shoulda been +120 but it accidently read +1200 is that too far? What about 3:1 vs 1:3 odds? I’m not really comfortable with sportsbooks just deciding on a case by case basis when it should payout and when it shouldn’t. That’s just a massive conflict of interest. I’m also not comfortable with state regulators as they stand to profit off the sports books profits generated, or taxpayer’s winnings… that’s a mild conflict of interest itself…

    I think something needs to be established…. Like let’s see what 5 other sportsbooks were offering on that line at the time…. let’s see what a neutral parties advanced odds algorithm shows the betting payout should be…. and then if it’s off by more than 3 standard deviations or more, or 200% or more…whatever the bet is ruled as an “error in pricing”…. that way a +140 bet that went off at +175 still has to payout, no questions asked. But a 5:1 bet that accidently went off at 5,000:1 is an “error” no questions asked.

    Lastly, I think the sportsbook should be REQUIRED to pay out a settlement in these cases… not just what they “think is fair” or whatever tickets/merchandise/memorbilia they happen to have in their storage closet that day. One day it’s box seats to the Giants, another day it’s a signed T.Y. Hilton helmet, and another day it’s replica Mardi Gras beads like the ones Reggie Bush wore during the post game Super Bowl Champion celebration in 2009.

    That’s a no go in my opinion. Something like the sportsbook is required to payout the lesser of $1,000 penalty or 5x the amount of the actual winning bet…. and give the guy freaking drink tickets and soup/salad bar passes for life in your sportsbook… Also he gets to make a $100 futures wager of his choice on a team to win the Championship in the sport he got screwed in.

    the most common sense post in this entire thread.

  • timusbr

    @mtdurham said...

    On one hand there needs to be some sort of protection in place for the sportsbook so they don’t accidently lose $50 million on a computer glitch one day.

    That is what insurance is for.

  • mtdurham

    Here is a situation that happened to me one time about a decade ago…the details are a little fuzzy but I’ll tell it to the best of my ability…. It was down to the AFC/NFC Championship weekend.

    My buddy and I always referenced the odds on Sportsbook’s website or scoresandodds and we’d just take turns betting with each other straight up to avoid paying the juice.

    Well we had a ~25 man trip to Vegas planned for Super Bowl weekend so we were looking at all the crazy props and exotic bets you could make on the game so we could work up some nutrageous gambling pool with all of us….

    Sportsbook (which was one of, if not the most, well regarded online sportsbooks at the time) had some prop bet that was VERY strangely worded. Now offshore sites usually have some non-native English speakers involved so the wording may be a little awkward but this one was really the Cat’s Pajamas…

    The year was 2006 and the AFC Champ featured a 14-2 Indianapolis Colts team that had steamrolled everyone behind Peyton Manning and their ‘idiot kicker’ including their next opponent the Pittsburgh Steelers. Roethlisberger was a young punk, Jerome Bettis was a wily old vet, and Willie Parker went from not seeing the field at UNC to starting for the Pittsburgh Steelers as an undrafted free agent.

    In the NFC Steve Smith was looking to drag the otherwise dismal Carolina Panthers offensive unit to their 2nd Super Bowl against the heavily favored 13-3 Seattle Seahawks led by Mike Holmgren, Shaun Alexander, and a dominant offensive line.

    I was a college kid with no job, earning rent in online poker/home games with about $2,500 to my name and a big approaching Vegas trip expense.

    THe bet in question I cant remember the exact wording but it was something to the effect of:

    Will both Indianapolis or Seattle Not make the Super Bowl:

    Yes: -700
    No: +500

    Now the phrasing was confusing so I emailed customer service with an example of a scenario or two and asked which side (Yes or No) would be the winner in those scenarios… After a few hours (possibly overnight) i got a response that the bet would payout exactly how it appeared to be worded to me…

    If I bet “No” all I needed was the -6.5 Colts OR the -4.5 Seahawks to win on Sunday…. Now clearly this bet was worded in error as no way I should be getting +500 I should be laying -700… but being opportunistic I ran to Western Union and wired my money to Antigua and placed the maximum $500 prop bet allowed on No… bear in mind this bet was up for several hours…not a matter of minutes…and i had received written confirmation from a Sportsbook representative how the bet would payout in each scenario I listed….

    Well I forget how or when they alerted me that the bet was worded in error and they would not be paying this man his money….. bear in mind this was AFTER i had hedged my bet on Tradesports (an online trading platform that operated like the stock market or Intrade platform)…. So my $500 bet or whatever was a loser on Tradesports…. but SPortsbook would now be REVERSING (NOT JUST CANCELLING BUT REVERSING!) my $2,500 WINNING BET into a $500 losing bet!

    I was livid let me tell you I mean so livid..but what can you do they are 1,000 miles away and the entire industry was illegal and totally unregulated…. .thankfully Tradesports posted a bet about a week later for Groundhog day where you could take the Groundhog to see his shadow for -180…i quickly discovered the groundhog sees his shadow ~84% of the time… did a quick glance at the weather report (i didnt know if it mattered lol) and threw approximately half of my net worth on Punxatawney Phil… I stayed up late drinking my everliving buns off trying to make it until 6 or 7 AM or whatever…of course i passed out like an hour before and did not discover I had won until like 5 pm the next day after i slept off the hangover….

    Alas, I had the money to go to Vegas! Unfortunately I promptly lost $1,000 gambling, and the day before the Super Bowl on a whim we decided to complete a 24 hour consecutive Strip Club binge which between the red bulls, drinks, and women (they fly some REAL hotties out there Super bowl weekend from all over the country) cost me another $1,000 and I was nearly broke. After the Super bowl ended (pretty early when youre on west coast time) i went back to the hotel and discovered my roomates cousin and some girl had ‘engaged’ in my bed because it was soaking wet…. i mean soaking wet..I’m guessing they had showered together first to save water….so i filled up the ice bucket with ice, some water…let it get chilly…and jumped up and down on their bed while i drenched them in it….man this kid got up like a zombie and just starts throwing haymakers…NAKED…. so here I am backed up against a window on the 30th floor while I’m dodging bombs and all I can see is:

    A) His fists and ____ coming at me in alternating waves…

    B) My two ~300 lb buddies who could have easily diffused the situation peeled over cackling at this situation…

    I knew under no circumstance was I taking this naked man to the ground so I absorbed a few blows until he swung wildly enough that I could make a beeline for the door.

    Then I flew home with a massive hangover proceeded to rush to my intramural basketball game where my first shot airballed and my 2nd shot hit nothing but the backboard…I promptly removed myself from the game as I thought I may pass out.

    But you wanna know the cool part of the story? So I was furious about my loss…. I mean furious… to the point where I said I would NEVER, EVER use sportsbook again for betting…. Well when Week 1 of football season came up the next season and i needed to check the lines so i could place bets with a friend..guess what?!…. there was $3,000 sitting idly in my account….they accidently paid me out! I had never checked the account as I had sworn off ever using the website again..but i had to login in order to see all the futures/exotics for Week 1 so far in advance.. Let me tell you I withdrew that money, deposited it, and never, EVER, EVER bet on that website again….. funny too because before they went out business the year the Ravens won the SUper Bowl they stopped paying out on winning bets…. a good friend of mine didnt get to cash his 50:1 Ravens ticket…

    The lesson here? Stick to what you know best. Whether it’s Punxtawney Phil, Needlenose Ned, The Spearmint Rhino, or NFL futures. And take the money and run if you ever find yourself on the lucky end of the stick for once.

  • jtkucheck

    @mtdurham said...

    Here is a situation that happened to me one time about a decade ago…the details are a little fuzzy but I’ll tell it to the best of my ability…. It was down to the AFC/NFC Championship weekend.

    My buddy and I always referenced the odds on Sportsbook’s website or scoresandodds and we’d just take turns betting with each other straight up to avoid paying the juice.

    Well we had a ~25 man trip to Vegas planned for Super Bowl weekend so we were looking at all the crazy props and exotic bets you could make on the game so we could work up some nutrageous gambling pool with all of us….

    Sportsbook (which was one of, if not the most, well regarded online sportsbooks at the time) had some prop bet that was VERY strangely worded. Now offshore sites usually have some non-native English speakers involved so the wording may be a little awkward but this one was really the Cat’s Pajamas…

    The year was 2006 and the AFC Champ featured a 14-2 Indianapolis Colts team that had steamrolled everyone behind Peyton Manning and their ‘idiot kicker’ including their next opponent the Pittsburgh Steelers. Roethlisberger was a young punk, Jerome Bettis was a wily old vet, and Willie Parker went from not seeing the field at UNC to starting for the Pittsburgh Steelers as an undrafted free agent.

    In the NFC Steve Smith was looking to drag the otherwise dismal Carolina Panthers offensive unit to their 2nd Super Bowl against the heavily favored 13-3 Seattle Seahawks led by Mike Holmgren, Shaun Alexander, and a dominant offensive line.

    I was a college kid with no job, earning rent in online poker/home games with about $2,500 to my name and a big approaching Vegas trip expense.

    THe bet in question I cant remember the exact wording but it was something to the effect of:

    Will both Indianapolis or Seattle Not make the Super Bowl:

    Yes: -700
    No: +500

    Now the phrasing was confusing so I emailed customer service with an example of a scenario or two and asked which side (Yes or No) would be the winner in those scenarios… After a few hours (possibly overnight) i got a response that the bet would payout exactly how it appeared to be worded to me…

    If I bet “No” all I needed was the -6.5 Colts OR the -4.5 Seahawks to win on Sunday…. Now clearly this bet was worded in error as no way I should be getting +500 I should be laying -700… but being opportunistic I ran to Western Union and wired my money to Antigua and placed the maximum $500 prop bet allowed on No… bear in mind this bet was up for several hours…not a matter of minutes…and i had received written confirmation from a Sportsbook representative how the bet would payout in each scenario I listed….

    Well I forget how or when they alerted me that the bet was worded in error and they would be refunding my money….. bear in mind this was AFTER i had hedged my bet on Tradesports (an online trading platform that operated like the stock market or Intrade platform)…. So my $500 bet or whatever was a loser on Tradesports…. but SPortsbook would now be REVERSING (NOT JUST CANCELLING BUT REVERSING!) my $2,500 WINNING BET into a $500 losing bet!

    I was livid let me tell you I mean so livid..but what can you do they are 1,000 miles away and the entire industry was illegal and totally unregulated…. .thankfully Tradesports posted a bet about a week later for Groundhog day where you could take the Groundhog to see his shadow for -180…i quickly discovered the groundhog sees his shadow ~84% of the time… did a quick glance at the weather report (i didnt know if it mattered lol) and threw approximately half of my net worth of Punxatawney Phil… I stayed up late drinking my everliving buns off trying to make it until 6 or 7 AM or whatever…of course i passed out like an hour before and did not discover I had won until like 5 pm the next day after i slept off the hangover….

    Alas, I had the money to go to Vegas! Unfortunately I promptly lost $1,000 gambling, and the day before the Super Bowl on a whim we decided to complete a 24 hour consecutive Strip Club tour which between the red bulls, drinks, and women (they fly some REAL hotties out there Super bowl weekend from all over the country) cost me another $1,000 and I was nearly broke. After the Super bowl ended (pretty early when youre on west coast time) i went back to the hotel and discovered my roomates cousin and some girl had ‘engaged’ in my bed because it was soaking wet…. i mean soaking wet…so i filled up the ice bucket with ice, some water…let it get chilly…and jumped up and down on their bed while i drenched them in it….man this kid got up like a zombie and just starts throwing haymakers…NAKED…. so here I am backed up against a window on the 30th floor while I’m dodging bombs and all I can see is:

    A) His fists and ____ coming at me in alternating waves…

    B) My two ~300 lb buddies who could have easily diffused the situation peeled over cackling at this situation…

    I knew under no circumstance was I taking this naked man to the ground so I absorbed a few blows until he swung wildly enough that I could make a beeline for the door.

    Then I flew home with a massive hangover proceeded to rush to my intramural basketball game where my first shot airballed and my 2nd shot hit nothing but the backboard…I promptly removed myself from the game as I thought I may pass out.

    But you wanna know the cool part of the story? So I was furious about my loss…. I mean furious… to the point where I said I would NEVER, EVER use sportsbook again for betting…. Well when Week 1 of football season came up the next season and i needed to check the lines so i could place bets with a friend..guess what?!…. there was $3,000 sitting idly in my account….they accidently paid me out! I had never checked the account as I had sworn off ever using the website again..but i had to login in order to see all the futures/exotics for Week 1 so far in advance.. Let me tell you I withdrew that money, deposited it, and never, EVER, EVER bet on that website again….. funny too because before they went out business the year the Ravens won the SUper Bowl they stopped paying out on winning bets…. a good friend of mine didnt get to cash his 50:1 Ravens ticket…

    The lesson here? Stick to what you know best. Whether it’s Punxtawney Phil, Needlenose Ned, The Spearmint Rhino, or NFL futures. And take the money and run if you ever find yourself on the lucky end of the stick for once.

    Bravo!

  • mtdurham

    @timusbr said...

    That is what insurance is for.

    Insurance comes with a cost, and that cost will be passed onto the consumer as betting markets are relatively inelastic…. thats a net negative for me personally and sportsbettors collectively IMO

  • bigez952

    @emnj69 said...

    it is not my job as a guy placing bets to verify their lines are correct-they have some crazy odds on future bets and have had them during in game bets too. How do I know what is a glitch and what is not?

    Like I said in my last response as well you don’t need a doctorate degree to know that getting 750-1 odds on an NFL kicker making a 30-40 field goal to win a game is probably a computer glitch knowing that an NFL kicker will make this length of FG’s about 95% of the time. This isn’t the first time in the history of gambling that a malfunction has voided a huge payout the regulators will most likely side with Fanduel with how insanely far off this line was and the fact it was only available for 15 seconds before it was corrected.

  • Dunzor

    @bigez952 said...

    Like I said in my last response as well you don’t need a doctorate degree to know that getting 750-1 odds on an NFL kicker making a 30-40 field goal to win a game is probably a computer glitch knowing that an NFL kicker will make this length of FG’s about 95% of the time. This isn’t the first time in the history of gambling that a malfunction has voided a huge payout the regulators will most likely side with Fanduel with how insanely far off this line was and the fact it was only available for 15 seconds before it was corrected.

    I agree with everyone in the thread that says the regulators and terms of service will agree with FD….and yet I still think they will end up paying the guy because they are a brand new sportsbook and the public who do not know how sportsbooks typically work in this scenario will crucify them if they don’t find a good settlement with these folks

  • mtdurham

    Look at it this way…no one and i mean NO ONE is going to insure 100% of a loss like that…you’ve got to have some serious skin in the game…otherwise what’s to make sure proper measures are taken to ensure mistakes are limited and losses are mitigated?

    So let’s say the sportsbook sets up some sort of arrangement where in a situation like this they’re on the hook for the first $100k and the insurance company (with something this large it would probably be a re-insurance company, not an insurance company) picks up 80% of losses beyond the $100k deductible….

    Now they’ve got to factor in the occasional $100k and up losses due to errors…. and pay the insurance premiums…which won’t be cheap….

    Sportsbooks already only juice roughly 4.5% of all bets placed…. So they take in $1 million in bets their Expected Revenue is a mere $45,000. From that they have operating costs, marketing costs, etc and must make at least a normal profit margin (unless the sportsbook is some sort of loss leader for another form of revenue) in order to justify staying in business….

    4.5% is actually a RAZOR THIN margin for the amount of risk they are taking on after factoring in expenses…it’s why most books at casinos aren’t very profitable and are viewed more as a way to draw customers into the casino hoping they’ll gamble in other forms as well that are more lucrative for the casino (slots, roulette, caribbean poker, etc)….

    Which would you rather a Sportsbook do…. spend ~$2-3 million in insurance premiums annually and another $2-$3 million in mispriced bets to the lucky few who sit in the sportsbook ALL DAY LONG 130 hours a week looking to pounce on this mispricing error…. or offer million dollar prize pools for games of skill like survivor pools, free drink tickets, super bowl tickets, and meet & greets with Beach Volleyball Gold Medalists Misty May Treanor and Kerri Walsh Jenkins?!

  • lfn1992

    I call BS. It is NOT up to the punter to look at a 750-1 bet that he/she has a confirmation slip and then have to say, ‘does the book REALLY mean it?’” If it was up for 30 minutes, 5 seconds, 1 millisecond, truth is the punter locked it in at that price. The book screwed up? Tough!

    If I am going to look at a bet and have to ask, every time, “did they REALLY mean it, or is this a computer glitch that could be reneged at any time?”, why bet?

    If FD is too incompetent to have the right technology to handle this situation, they should close the book right now. The instinct should NOT be that poor, poor FD made a little, tiny mistake and should be given the benefit of the doubt. FD is providing a service that it will deliver its promises. When it doesn’t deliver a service it promises, it should be challenged.

  • mtdurham

    @lfn1992 said...

    I call BS. It is NOT up to the punter to look at a 750-1 bet that he/she has a confirmation slip and then have to say, ‘does the book REALLY mean it?’” If it was up for 30 minutes, 5 seconds, 1 millisecond, truth is the punter locked it in at that price. The book screwed up? Tough!

    If I am going to look at a bet and have to ask, every time, “did they REALLY mean it, or is this a computer glitch that could be reneged at any time?”, why bet?

    If FD is too incompetent to have the right technology to handle this situation, they should close the book right now. The instinct should NOT be that poor, poor FD made a little, tiny mistake and should be given the benefit of the doubt. FD is providing a service that it will deliver its promises. When it doesn’t deliver a service it promises, it should be challenged.

    So if I said the courts/gaming commission ruled all operator errors as actionable bets…. and the sportsbooks moved all betting lines from -110 to -120… and shaved off futures (Example… Boston Celtics to win the title at 5:1 odds instead of 6:1 odds) in order to offset this liability you would have absolutely no problem with this? All so one lucky guy can collect $80,000, give half of it away in taxes…and blow the other $40k on vices like gambling, partying, or strip joints… you would have absolutely no problem with this?

    I see this type of ruling as protecting the 1 million little guys from price gouging…not the one little guy geting screwed for placing a bet on a line that was clearly without a doubt off by a magnitude of 45,000x

    In a region with much less gaseous pressure than atmospheric pressure your perspective makes sense. But alas, the world does not operate within said vaccum.

  • zline34

    @sasmallen said...

    If it’s a obvious price mistake they don’t

    So, what if the mistake isn’t as drastic as that? What if a Sportsbook just makes crazy lines to entice bets? Do, people get their money back if the house wins on a line mistake? How is it even possible for an alogrithm to make that mistake without it being noticed? I want a site that works 100% of the time, and pays out if I make the bet. I threw down $5k on Patriots at half-time during Super Bowl 51. I got paid out, but If I didn’t I would have taken legal action.

  • dolphinkick182

    Let’s be real here. FD can’t even get a double header start time right. You think they will be able to run a sportsbook and not have this happen AT LEAST once per month? The guy making the bet doesn’t make the odds, the book does, he only bets on what’s posted. Had he bet his kids college fund, his house payment, his car payments, and his whole weeks paycheck, totally emptied his bank account and the field goal went wide right? They’d TAKE IT and there’d be no headlines until his wife found out and cut his dick off and threw it in a cornfield. There have been many, many, many instances of “mistakes” made by bet takers, be it books, casinos, or the lottery, who don’t want to pay out because of their “mistake” and usually win judgements. At some point lawmakers need to realize that it is a two-way street. Sometimes the person making the bet made a “mistake” but he deals with the consequences, and so should whomever it is making the odds or taking the bets.

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