Pinny Hardly paying full track odds
Even though Pinnacle says they pay full track odds on all bet types, they don't. All of their bets are subject to a max payout per race, which dramatically reduces the payout.
The per race payout limits range from $5,000 to $25,000. For example, I can't win more than $5,000 on all my bets on a single race if I am betting on Philadelphia Park, 10,000 if I am betting on Bay Meadows, 15,000 if I bet on Pimlico and not more than 25,000 if i bet on churchill. Those limits really cut down the payouts on all wagers, but especially the PK3s and PK4s.
For example, if I bet 500 to win on a runner and then do a $100 PK3 that ends in the same race, if my 500 win bet pays 4:1 and I win $2,000, I can't win more than $3,000 on the PK3 if i bet at Philadelphia Park, which works out to an effective cap on the PK3 bet of 30:1. What a joke. Who would want to play PK3s with a max payout of 30:1. When plenty of people are paying lots more.
I could go on with more examples, but the point being that Pinny DOES cap their payouts, they just do it in a sneaky way by saying they pay full track odds, but then limit it severly, especially for the higher payout exitics, by using the low per race net win limits.