Hit a Pick 3 and site Won't Pay in Full

[YEFO]

Hi all,

First I'd like to say that I read the site everyday and listen to Steve daily. You all are great and I've learned alot from your posts and the Sirius show.

This is my first post here, under really crappy circumstances.

Anyway, so I put in a Pick 3 today at Gulfstream starting with race 7, on my online betting account with sportsbook.com. My ticket:

1,2,4,7,9,11/3,5,6/4 = $18

Holy crap, it hits. For a buck the payout was $1,495. So I go and check the ticket on my account and see that the payout was only $300. WHAT????? I freak out, call customer service and ask what the hell is going on. They tell me to check the rules and payouts section of their site which says the following;

"Win, Place, Show wagers pay full track odds. All other wagers pay full track odds up to a maximum payout of 300/1 your original bet amount. There are no limits on how much you can place on any one horse or bet type. However, you will see that each ticket has a bet limit (typically $1,000), you simply need to make multiple bet tickets to get to the bet amount you seek. There is a $20,000 limit per betting ticket."

Can someone please explain what this means or if anyone has run into this type of situation before.

To say that I'm pissed off would be an understatement because I've never hit this big before, but I guess I should have understood the site rules before using them.

Any advice would be appreciated.

Thanks,
Mike

[SniperSB23]

Yeah, Sportsbook caps it at 300-1. You never want to place any wagers with them that could pay out more than that. They display it pretty clearly on their site from what I remember.

I use twinspires now. Doesn't cost anything and you get free PPs for any cards you play.

[miraja2]

Sorry about that, but hey, at least you know that you did a nice job on the pick-3.
Including the 1 horse in the seventh, and playing what I think was a fairly gutsy single in the ninth, was a nice bit of handicapping.

[2Hot4TV]

That really hurts.

[YEFO]

Originally Posted by SniperSB23

Yeah, Sportsbook caps it at 300-1. You never want to place any wagers with them that could pay out more than that. They display it pretty clearly on their site from what I remember.

I use twinspires now. Doesn't cost anything and you get free PPs for any cards you play.

I guess I just don't understand the 300-1 cap. Is there a simple explaination?

[ArlJim78]

Originally Posted by YEFO

I guess I just don't understand the 300-1 cap. Is there a simple explaination?

they cap the payoffs at 300 to 1, so if your pick three paid more than 300 for $1 at the track, sorry but you only get paid $300.
like they say, read the fine print.

[fpsoxfan]

Originally Posted by YEFO

I guess I just don't understand the 300-1 cap. Is there a simple explaination?

Yep...you got f*cked...sorry, read the fine print, nice job cappin' it though.

[hoovesupsideyourhead]

yes they ****ed you.. they dont co mingle pools id assume.. good job though

go to diamond sports.com. rebates and full track payouts......or wager in us

[YEFO]

Agreed, I should have read the fine print, but man this sucks!!!!!

An other good sites out there. Its hard to get out to the local OTB on weekends with 3 kids.

[pmacdaddy]

Originally Posted by YEFO

Agreed, I should have read the fine print, but man this sucks!!!!!

An other good sites out there. Its hard to get out to the local OTB on weekends with 3 kids.

I have been happy with NYRA account.

[Dunbar]

Originally Posted by YEFO

An other good sites out there. Its hard to get out to the local OTB on weekends with 3 kids.

If you want a solid offshore site, it's hard to beat Bookmaker.com. They do not cap the odds on any bet, but they do cap the amount you can win from a single race. The amount depends on whether it's a major or minor track. For Gulfstream, the max profit is $30,000/race.

Bookmaker also gives an 8% rebate on exotics and 3% on WPS bets. 5Dimes is another good choice, but read its rules carefully for cap info.

Before sending money to ANY offshore site, you should check out the site's rating at SportsbookReview.com. fyi, Sportsbook.com currently has a D- rating. Here is the most recent entry regarding Sportsbook.com:

"1/11/2008 08:39 PM

Sportsbook.com Group steals $5,677 from player
The player held accounts at Sportsbook.com (SBR rating D-), Sportsbooks.com (SBR rating D-), Sportfanatik (SBR rating D-), and PlayersOnly (SBR rating D-). He was debited for the amounts won over the life of the account totaling $5,677. Sportsbook.com cites "bonus abuse" as the reason for stealing these funds. The Sportsbook.com operation often labels players who have won money and utilized promotions in more than one of the many sister sportsbooks as bonus abusers. Sportsbook.com and sister Jazette books do not have rules against using multiple brands and using their promotions. It is often encouraged through cross marketing and the sales departments which market each website as an independent sportsbook.


Player: I did everything above board and was having a good season of NFL picks and now they've stolen from me. I guess I should have known better since you had it listed as D- but they'd fixed their payout issues over the last few months and I had never had other problems with them over 5+ years of active use. However, I have no email to send you since they didn't even bother to email me."

--Dunbar

[freddymo]

Originally Posted by YEFO

I guess I just don't understand the 300-1 cap. Is there a simple explaination?

Is it a post and play account? Or is it a true illegal book? Always play WP and standard exactas(under 100 bucks) with a reputtable illegal book; with the boys can get you as much as 25 back with a red if you give them a ton of play

[robfla]

Originally Posted by YEFO

Is there a simple explaination?

I would guess they hold their action as opposed to putting the money bet in to the pari-mutual pool.


They don't want to get stuck holding a several thousand dollar exotic bet.

[k9styl94]

Dude, I feel your pain. I only play Pic 3's & an occasional DD's.
Your best bet is go to the OTB or to your local track & play.
Screw the convenience of being at home!!

You NEVER NoW WHAT THE FINe PRINT WILL SAY!!

[cmorioles]

You guys are getting screwed. You should be getting $301 for each $1 you have on the combination.

[stonegossard]

Originally Posted by cmorioles

You guys are getting screwed. You should be getting $301 for each $1 you have on the combination.

Hysterical !