Betting Kentucky Derby at non Pari-Mutuel location in Reno cost man $574,000

[JackStraw77]

What's brutal is William Hill has a Pari-Mutuel location in Reno at High Sierra. Unbelievable story but you have to know what your doing when your wagering $2670. Guy claims he didn't see sign and ticket writer never him aware of cap on exactas and trifectas.

Dr. Steve Friedlander walked into the Tamarack Junction sportsbook in Reno, Nev., and spent $2,760 on bets for the Kentucky Derby.
He put $600 on the No. 8 horse Tacitus to either win, place or show and he did a $100 exacta box and a $40 trifecta box using the 8, 13, 16 and 20 horses. If any of those four finished first and second, he would win the exacta. If any of those four finished first second and third, he would cash in the trifecta.
When Maximum Security, the No. 7, crossed the finish line first, it appeared as though Friedlander had lost all his bets. But then Maximum Security was soon turned into a loser when the horse was disqualified and taken down.
https://www.actionnetwork.com/horse-racing/kentucky-derby-exacta-trifecta-bad-beat-darren-rovell

 

[Gravy]

This is why I go to the local tracks for stuff like this

 

[Michelangelo]

I learned the hard way with a local bookie years ago.

 

[Willie99]

I learned the hard way with a local bookie years ago.

When I place a ML parlay and I see a win amount of something even, like $ 2,500 or $ 1,200, I recalculate to see if there is some sort of limitation. Obviously won't make that bet, and I don't like that shit either

Sometimes it's stupid to play the ML, you have to take the points

 

[TheComputerGroup]

Damn this would suck......& I don't think the board will rule in his favor.

 

[unusualsusp11]

a month and a half for the board to make a decision? it should take about 5 seconds to tell him 35k is all he's getting. a novice who didn't know about fixed payouts by claiming he didn't see the sign won't wash here.

 

[2ese]

i think he will get paid...he had a bunch of small bets just on one card...a $5 tri is really 5 one dollar tris....

 

[trytrytry]

he will not get paid parimutual prices. they will be capped via the rules

 

[Betallsports]

If the wagers aren't put into the tracks pool, you Won't get track odds.
This is why most all sportsbook have a cap.

 

[terps1313]

But they are using track odds and that is the big issue. The parimutuel system has a 20 percent vig incorporated which the sportsbooks use while not having to pay all the expenses associated with it. So they free ride the track odds and also have a cap. It's basically robbery.

 

[unusualsusp11]

But they are using track odds and that is the big issue. The parimutuel system has a 20 percent vig incorporated which the sports books use while not having to pay all the expenses associated with it. So they free ride the track odds and also have a cap. It's basically robbery.

no it's not. 99% of knowledgeable horse players know enough to not play long shots that will go over the limits that they impose and are clearly stated beforehand.

 

[Michelangelo]

But they are using track odds and that is the big issue. The parimutuel system has a 20 percent vig incorporated which the sportsbooks use while not having to pay all the expenses associated with it. So they free ride the track odds and also have a cap. It's basically robbery.

This

 

[WhiteyBulger]

Interesting comment about his ticket structure. So if he bet a $5 tri then it’s just 5 one dollar bets. I agree he should get paid on each bet.