$1million Betting Sting

The link isn't working but if it was the one on Australian Gold Coast greyhounds last week, then it's believed to be about 200,000 Australian dollars (about £85,000) rather than the A$1m originally estimated (and reported as if it were fact) by Fox and some other parts of the Australian media.
 
ABC are reporting A$200,000. Evein the linked report the maths don't add up - but who cares, it's a good story anyway.

There are those of us on here who will remember the same thing happening at Hackney Wick, where they had the forecast but British bookmakers refused to pay out. (For younger readers, this was in the good old days before they had invented such things as BAGS forecasts)
 
Been done plenty of times before for more modest returns, and it's not that clever ~ a combination of bookmaker stupidity and what ammounts to legalised fraud. Nul points from me, I'm afraid. Doesn't happen here much because all except Hills of the big firms put bets directly into the tote pools (for horse racing ~ tote betting off track isn't allowed for the dogs) and they (Hills) limit payouts to a multiple of the SP.
 
As Rory says it's old hat over here and wouldn't work (even in pre-totedirect days) as all UK bookmakers have a rule regarding voiding bets when there has been evidence of price rigging (something the two guys freely admit to). Having said that, all UK horse race bets should be void on the basis that the cartel rig the sp's over here and the oz bookmaker was doing the exact same thing to the 2 guys prior to the sting.
 
Derek?? Did I miss his post?! :lol:

Yes, Rory's right - when I was at SJ the limits were 2 1/2 times the SP or 2 1/2 times the CSF.
 
Doesn't anyone else remember the attempted Hackney Wick coup? I can find no internet mention of it and the following is from memory, so the detail may not be 100%, but it won't be far out.

It was a Saturday morning in the 1960s and a big horseracing day. The plotters monopolised all the tote windows that were open placing forecast bets on the outsiders. Off-track they had forecast combinations on the fancied dogs. The first mistake they made was to make the dividend too big - a forecast which would have been under £2 for 2/- (10p) paid over £1,000! The big firms refused to pay out as they said that "large men" had prevented ordinary punters from placing bets at the track.

Had they been paid out it would have netted them a few million in today's money.
 
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