Mistake lines and cancelled wagers

[CharlieMaxwell]

A controversy recently occurred when Pinnacle sports book erroneously posted the season win ‘over/under’ line for Oklahoma State at 8 ½.

The number was clearly a mistake, with Pinnacle having picked up the Ohio State total erroneously for Oklahoma State.

Read the rest of Fezzik's article by going to the RX home page at www.therx.com.
Also, check out a couple of new poll questions while your there!

Charlie

 

[DavidMatthews]

It's funny to see Fezzik defend a book for a mistake line. I've seen him bet in Vegas and he finds and bets ridiculous mistakes in this town. He's probably one of the best at torching sports books at their own mistakes.

Humerous indeed.

 

[delmo]

does vegas have a policy on how they handle bad lines?

 

[Fishhead]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by delmo:
does vegas have a policy on how they handle bad lines? <HR></BLOCKQUOTE>

Yes, if an individual wagers on an OBVIOUS bad line, the sportsbook has the right to cancel all wagers made.

For instance, if you wager on a game at -3 when it was actually suppposed to be -13, your bet will in all liklihood be voided.

 

[lakerfan]

Would have been nice if he had addressed some of the valid points some of us have made:

1. Since Pinnacle is an originater of many lines, and since they often have opinionated lines, they should provide a higher standard for standing by bad lines, especially when in isn't the case of a reversed line or something 100% obvious.

2. Unlike other top tier books, Pinnacle does not allow us to cancel wagers if we accidentlly bet. I understand this would be a hassle with the volume they do and the quick line movement they have. But their failure to offer this, makes me think they should stand by their mistakes.

As for Fezzik's 90% of bookmaker would know it is an error stardard. It seem arbitrary, but most standards on bac lines are. My point would be in the case of Pinnacle they WELCOME and MAKE A FORTUNE on many players betting sports with them that they, the players, have no clue on, beyond understanding some basic rules. Pinnacle makes a lot of money on huge volume from mindless scalping. If they start not standing by their lines frequently, I don't think that will be as true. Don't fuck over one of your biggest earners (this type of decision could if it happen frequently).

 

[DannyMay]

Hey at least they cancelled the play before the outcome was known. This is way better than Intertops waiting until 1 minute was left in the first half and deciding it was a bad line. My first half line was much closer to the correct line than this Ok State under 8 1/2 +100 BS here. I have no problem with them cancelling before the game starts but this waiting until 1 minute is left is total BS. And all the mods defended the cheating, scamming book that put up an off line ON PURPOSE and hoped their side would win but when it didnt they knew they could cry bad line.

 

[DannyMay]

If we make a mistake , we have to eat it. If the book makes a mistake it will usually wait to see the outcome and then cry foul if things dont go the right way.

I am sure every person on this board who actually bets games has made mistakes from time to time by picking the wrong side, or chasing previous losses. We cant say that we messed up and expect a cancel when our mistake bites our ass. I find " Bad Lines" every day, dont tell me they aren't doing it on purpose.

 

[DannyMay]

Quote from the story

I feel that, for books to cancel wagers, it is critical to do so before the event actually begins. Some books have been known to ‘past post’ customers, canceling their wagers only after the event has begun (or ended!). This is a very unethical practice that should not be allowed.



Dead right. 100 % right. If that play isnt cancelled before the game goes its a bet because you know damn well they arent cancelling shit if you lose. The play has to be cancelled before the game starts and stick the excuses about their system was messed up so they couldnt cancel it yet or they sent an email before the game started ( which was time stamped almost 50 minutes AFTER the game started). They try to justify their theft attempt by saying the line was 10 points off ( which is total BS). I dont care if the line was 30 points off you didnt cancel it until 1 minute in the first half that makes it a bet.

 

[wantitall4moi]

I wonder if he wouild call what Pinnacle did in that Hou game past posting?

Afterall I saw that number at arond 10 AM Eastern time and game time was 5PM Eastern time I think. I know it was an odd start time.

But even if it were 4, that is still 6 hours for them to see the action and see the mistake, and cancel BEFORE the game went off.

There can't be a double standard. There has to be a consistancy. Win or lose. It just looks bad that in this case Pin didn't cancel as a "show of good faith", but that was after the fact.

I can respect their decsion to cancel both bets as long as their actions are always the same. Maybe it is coincidence, maybe it isn't. But that rule is in place to take that question right out of the equation.

I even said that Pin could have done what they did in the Hou game show some good faith, tell the people they had an option to keep the game at the odds they got, but it was a bad line. Then go ahead and put up a more realistic line if they were so inclined, Their best option was to eat the bets, and not post a line at all after the fact. That way they knew their liabilities.

So why did they not choose that course there, but did chose it in a game with far more liability? One answer, the "good faith game" won for them.