Author Topic: Betiing on known results- Any thoughts? (Read 462 times)

JWesleyHarding · O.P. « 2019-Jul-22, 09:01 AM »

I see that TAB and others have a market up on the results of the current Masterchef cooking competition.

This show has been completed and therefore the results known.

The TAB market is at present
A-1.45
B-4.25
C-7.00
D-7.00

Any thoughts about betting into this market

And the legalities of the whole thing?

Bubbasmith · « 2019-Jul-22, 12:34 PM **Reply #1** »

Like getting on 'after the ball "

Jeunes · « 2019-Jul-22, 01:04 PM **Reply #2** »

My Kitchen Rules is another example of this.

JWesleyHarding · « 2019-Jul-22, 01:34 PM **Reply #3** »

Isn't there something about "you must have a chance of winning" for a bet to be legal?

I've even thought about whether there's doubt about the legalities of 'scratchies" if there are no winning tickets at the newsagent or other venue where they're sold.

Dave · « 2019-Jul-23, 04:44 PM **Reply #4** »

JWH I doubt there is any Law that says if you can't win, you can't lose.....or words to that effect......look at horses who weigh in light, they were never carrying the correct weight therefore punters who backed them could not win.......they cross the line first and get disqualified or they don't cross the line first and it makes no difference, if there was a law someone would have tested it by now, wouldn't you think?
Do you know the winner of the comp to which you are referring?
If I knew the winner I would be putting everything I had on it.....but I would need to be sure it was the final result

JWesleyHarding · « 2019-Jul-23, 05:16 PM **Reply #5** »

No i don't know the winner.

If I did you wouldn't see me for dust.

Although there must be some limit size of bets.

Yes, i have thought about the validity re weighing in light although the competance of those associated with your bet of choice is a component of your gamble, I suppose.

sobig · « 2019-Jul-23, 06:52 PM **Reply #6** »

there are heaps of cases with "reality" TV shows and such "events" as the Brownlow medal.

In the case of the Brownlow there has been many cases wher there is a betting "plunge" on the day or two piior to the event.
If the plunge comes off a leak is always assumes but many times those "in the know" have got it wrong.

Jeunes · « 2019-Jul-23, 07:53 PM **Reply #7** »

As all corporates pay pre-weighing, the winnings should be not taken away if a horse is disqualified due to weighing light.

For example if a punter is paid out $100 early and then places 5 $20 bets as a result because of his win, his balance is $0. However if the horse weighs in light, then his balance will be negative $100 if none of his bets were successful. The issue is the punter would have not been able to place the bets if he was not paid out early.

So isn’t this credit betting as technically the corporates are crediting the account without the results being final? Thus punters are betting on credit technically. The same arguments could be made for early payouts for exotic bets despite protests for minor placing.

Dave · « 2019-Aug-01, 03:21 PM **Reply #8** »

JWH it is hardly the punters fault for expecting a Jockey knows basics like weighing in and out....or a Trainers ability to put a saddle on his horse with all the paraphernalia associated to make the weight?? Or the Stewards enforcing the laws of racing,
Jeune the Corporates pay in good faith so Punters can reinvest if they want to, I can't see a problem with that, if a winner weighs in light meaning the Punters were technically betting on credit would not be against the laws/rules as there was no intent give credit or break any rules.........no one could foresee a horse weighing in light, it could only happen to account customers as they can recoup the winnings if the highly unlikely scenario of weighing in light does happen, the bookies on course would never pay out the cash, not because of the law but to protect themselves, if they can't win, they don't want to lose do they?