dermie23
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 Original Post 2011-Feb-09, 01:01 AM
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Hi all - i am new here and need some advice .
I placed 2 $600 bets to place with an online bookmaker on races in England with less than 20 seconds to go - one horse was paying $2.50 at the jump and the other $4- i expected the bookmaker to match the STAB odds but to my shock they laid my bet off on the STAB pool thus ruining the pool and with barely $1000 in the place pool, both horses ran a place and both paid $1 - to my way of thinking with less 20 seconds to go the online bookie has placed this bet on after the race has jumped which is highly illegal- i have since rung them and they refuse to pay anymore than the $1 saying we pay what the TAB pays - i asked them to at least match the NSW TAB odds which were $1.80 and $2.50 and they refused - no where on their website does it say they put a punters money into the TAB pool or i would not have put such huge bets on and instead bet with bookies that offer fixed odds on English races .
Any advice as to where to take it from here would be much appreciated because i have been ripped off $2700
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dermie23
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2011-Feb-09, 03:52 AM
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The 1st race was paying $2.60 to win and closed at $2.50 to place -my horse was leading and 30 seconds into the race the place fell to $1 - i thought it was a 1 off so placed another bet on a horse at $8 to win and $4 to place backed the place and it also closed around the $4 mark and once again 30 seconds into the race having clicked on refresh a few times it fell to $1.04 which then made me realise that they were putting the money into the STAB pool - will not mention the bookmakers name but they advertise STAB +5% but how can you get 5% when it pays $1 to place - amazingly those 2 races were the only 2 races on the night that even came close to paying $1 to place- there was another race which was paying $2 to win and $1.70 to place and that made me feel even more ripped off .
Would welcome any suggestions if i have a case to get my money off them since they refuse to pay
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arakaan
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2011-Feb-09, 03:58 AM
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1) you have not been ripped off so stop saying you have been.
2) you should have learnt the lesson after the first race
3) get a betfair account and you'll get set at fixed odds if you want to bet in larger amount on pommy racing.
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dermie23
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2011-Feb-09, 04:06 AM
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I do have a betfair account and also a betdaq account but happened to have money in this particular account and seeing that they say TAB +5% assumed my bet would be matched by the TAB odds - thats why i keep saying ripped off - will never bet with them again - even Sportsbet bet fixed odds on UK races and you can even watch some of them live
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jfc
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2011-Feb-09, 04:45 AM
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If you bet 20 seconds before AST, the bookie can easily lay off all of that in Tasmania in time.
Tasmania would probably update Victoria no earlier than AST, so there will be a noticeable time lag before it appears on your screen.
Reportedly this laying off for kickbacks is a very common practice.
So I doubt you have any hope of getting a complaint upheld.
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Jim Pike
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2011-Feb-09, 05:54 AM
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I believe the TAB are up to 2 minutes behind, just looking at the win prices you are quoting $2.6 and $2.5 the place, you didn't really think it would pay that for a place did you?? especially with a small pool????
I assume it was an Australian Bookie who would be holding very little on the race, if he off laid it off on the tote he was hardly going to give you $1.80 when he got $1 was he? he gave you what he said he would, I understand you felt cheated that is only natural, human nature but you just made a bad deal, it didn't cost you anything and you have learnt a valuable lesson, instead of saying "Oh woe is me" try to look at the positives and thank the Bookie for giving you that lesson and not charging you anything, Don't do it again!!!!
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Rodent
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2011-Feb-09, 07:13 AM
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Dermie, you must be a youngster as you appear very naive. If you are betting with a bookie offering to pay tote odds and the pools are miniscule, then the bookie is obliged to lay off most bets. What if he doesn't lay off and some drunkard unaware of the size of the pool has a big bet and distorts the market? What if pool manipulators target the race and cause the favourite to pay $100 for the place?
You'll find that it is more prudent for the corporate bookie to lay off and get a rebate from the TAB.
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Wenona
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2011-Feb-09, 07:14 AM
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Have to agree with the others, you haven't been ripped off.
You're making very poor investment decisions and experiencing the consequences of them.
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Arsenal
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2011-Feb-09, 08:25 AM
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Just grin and bear it Dormie.......... you don't have a case ..........don't bet there again ............get on Betfair  |
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Beachy
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2011-Feb-09, 09:30 AM
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Even if you bet 20 seconds out, most of the bookies would have a program assisting their betting back so your bet would've been in the pool basically the moment you sold your bet.
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winner
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2011-Feb-09, 09:45 AM
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Hi Dermie, I think some of the others have been a bit harsh. We all learn this lesson at some time, the way the system works or doesn't. Think of it this way you, you have learnt a valuable lesson and you walk away with your money in hand, not many of us can say that.  |
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Authorized
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2011-Feb-09, 09:47 AM
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Even if you bet 20 seconds out, most of the bookies would have a program assisting their betting back so your bet would've been in the pool basically the moment you sold your bet.
So how late do you leave it so a bookie can not bet back ? What sort of program is this ? 20 seconds. |
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arthur
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2011-Feb-09, 09:56 AM
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No ripoff
You were on a hiding to nothing . . Bookie on a profit to nothing
You actually got a good result . . in a strange sort of way
And a good lesson
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ledgerr77
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2011-Feb-09, 10:56 AM
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When Art Connouisser won Ascot Golden Jubilee 2009 this Betezy joint offered best tote official fluc 33/1 into 16/1....won...best tote 48.10..took 3 weeks to credit my account..i find the corporates are getting meaner and meaner....but they still offer choice @ remember they are conniving cunning bookies ..............
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chalky
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2011-Feb-09, 11:36 AM
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Both horses could have ran 5th....would have been worse surely.
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