Sportsbetting.com joins BetUSA in stating that it will not confiscate winnings
Sportsbetting.com (SBR rating D+) joins BetUSA (SBR rating C-) in stating that it will not confiscate winnings from correlated parlays, which was the original action taken by service provider, Sportsbook.com's (SBR rating D+) operation management. Any players that have found their SportsBetting.com account to be debited should contact SBR or Sportsbetting.com.
BetUSA has added the following rule to address the lack of software control over correlated parlays. Other Sportsbook.com sister sites are encouraged to add similar language and warn players via email that this new stipulation exists.
Correlated parlay betting: The results of certain events can be considered to be correlated. For example, in college football betting on a heavy underdog (eg 35 point underdog) and the under in the game is statistically correlated. If players consistently bet correlated parlays then management reserves the right to regrade wagers. Wagers will be split so that half the stake will go on the pointspread and half on the under in the game. This rule applies from 19 October 2007. This will only apply to those regularly staking $50 or more on parlays and is intended only to limit professional bettors who consistently bet correlated parlays.
SBR Rules Monitor: BetUSA
SBR continues to discuss this matter with Sportsbook.com management with little progress. Sportsbook.com has agreed to credit players for losing correlated parlays since September 1st. This is of little consolation for most victims because only winning account holders were robbed during a time period when Sportsbook.com noticed players beating the book for large sums. Players do not have the option to recover losses from periods prior when they may have sustained a losing run. The offer by Sportsbook.com, although possibly reducing the amount stolen, further illustrates why the actions are unjust.
BetUSA has added the following rule to address the lack of software control over correlated parlays. Other Sportsbook.com sister sites are encouraged to add similar language and warn players via email that this new stipulation exists.
Correlated parlay betting: The results of certain events can be considered to be correlated. For example, in college football betting on a heavy underdog (eg 35 point underdog) and the under in the game is statistically correlated. If players consistently bet correlated parlays then management reserves the right to regrade wagers. Wagers will be split so that half the stake will go on the pointspread and half on the under in the game. This rule applies from 19 October 2007. This will only apply to those regularly staking $50 or more on parlays and is intended only to limit professional bettors who consistently bet correlated parlays.
SBR Rules Monitor: BetUSA
SBR continues to discuss this matter with Sportsbook.com management with little progress. Sportsbook.com has agreed to credit players for losing correlated parlays since September 1st. This is of little consolation for most victims because only winning account holders were robbed during a time period when Sportsbook.com noticed players beating the book for large sums. Players do not have the option to recover losses from periods prior when they may have sustained a losing run. The offer by Sportsbook.com, although possibly reducing the amount stolen, further illustrates why the actions are unjust.
