Found Key to Treasure (Australian Bookmaker) and threw it

[ozpak]

Today I found an arb between Pinnacle and Australian Bookie. I put around $12k on the arb and then I was enjoying match. It's baseball match. During the 3rd innings, I just out of curiosity check odds on Australian bookmaker. To my surprise, odds on Australian bookmaker were exactly same as before start of match even though match was in 3rd innings. I am talking about odds for Over/Under score. I checked odds on pinnacle, bet365, Betfair and everywhere odds had moved as the match was progressing. I being a trader thought waooo what an amazing opportunity. I put couple of grands more on obvious under score. Still no change in odds on Australian Book.

At this point, I was scared that if I put any more money; Australian bookmaker mayn't honor the bets citing the obvious error. So even arbs of more than 20% were available, I didn't put any money.

Then I gave a call to CS of Australian bookmaker and confirm the odds. The lady on the phone said yes available odds are correct and you don't need to confirm. I insisted her to confirm from the trader. She confirmed from trader and as soon as she get back to me, she said thanks, we have suspended the market and we are investigating this issue now.

This got me thinking that what would have happened if I had not called CSR and put 20k more on obvious under score.

To my knowledge, once your bet is accepted by Australian bookmaker, they can only reject bet before start of match and even then they have to contact you either through phone or through email. What's the legal position of Australian bookmakers in case the match is in-play and it's a obvious error like this and customer has put large sum of money.

P.S. My pre-match arb on this match lost at Australian Bookmaker. But my live arb on this match for couple of grands was a winner at Australian Bookmaker and I got paid after 5 hours of finishing of match.

[henryslug]

They can do whatever they really want. The big ones will probably just let things like this slide, especially if they haven't lost too much money.

[shari91]

To my knowledge, once your bet is accepted by Australian bookmaker, they can only reject bet before start of match and even then they have to contact you either through phone or through email. What's the legal position of Australian bookmakers in case the match is in-play and it's a obvious error like this and customer has put large sum of money.

My pre-match bets have been voided, sometimes with an email before the match started, sometimes during the match, sometimes after. Sometimes not at all. Live bets have been voided constantly. Not always but enough. Australia doesn't have some special sort of rules here vs other books. You bet a bad line chances are you won't be paid. Four or five years ago there was an Aussie book who was putting NBA team totals up incorrectly - halftime numbers for the full game ie will the game be o/u 95. Most of the time they honoured those bets for smallish amounts ie under $200 but once you jumped over that,

[Optional]

Hitting obvious errors is just like free rolling yourself.

You never know if it will be paid as a winner, have odds corrected or just be cancelled.

Especially as an arber you need to be doubly careful.


Even if that CS agent had not double checked and simply told you the market was good, they can still cancel it later if it's an obvious error.

[Hareeba!]

I'm surprised that you were able to make such a large bet with any of the Aussie books if you have a history of arbing.

I suspect you won't from now on.

[ozpak]

I'm surprised that you were able to make such a large bet with any of the Aussie books if you have a history of arbing.

I suspect you won't from now on.

I can't place online bet with any Aussie bookmaker. I have to go to nearest pubs to put my money on. The pub owners in my area offers me free drinks, meals and coffee as they think I am such a loser who place big bets regularly. I don't mind them thinking I am such a loser

[ozpak]

My pre-match bets have been voided, sometimes with an email before the match started, sometimes during the match, sometimes after. Sometimes not at all. Live bets have been voided constantly. Not always but enough. Australia doesn't have some special sort of rules here vs other books. You bet a bad line chances are you won't be paid. Four or five years ago there was an Aussie book who was putting NBA team totals up incorrectly - halftime numbers for the full game ie will the game be o/u 95. Most of the time they honoured those bets for smallish amounts ie under $200 but once you jumped over that,

What about the bets placed in a pub UBet/Tab terminal where they can't track customer. If I have placed live bet in a pub through Ubet terminal, will the bets on wrongs odds will be honored ??

[Hareeba!]

What about the bets placed in a pub UBet/Tab terminal where they can't track customer. If I have placed live bet in a pub through Ubet terminal, will the bets on wrongs odds will be honored ??

They have been known to monitor customers via cameras in retail outlets. You may need to move around to avoid being identified as a "non-genuine customer".

Above a certain value I believe they are required to call it into HQ before selling?

Shouldn't matter how you placed the bet if the line or odds are bad they can void the bet.

[Optional]

Haven't had to deal with it in Australia but seen shop tickets sold with bad odds listed paid out at adjusted 'correct' odds a couple of times in Europe.

[ozpak]

They have been known to monitor customers via cameras in retail outlets. You may need to move around to avoid being identified as a "non-genuine customer".

Above a certain value I believe they are required to call it into HQ before selling?

Shouldn't matter how you placed the bet if the line or odds are bad they can void the bet.

I am not sure how they can monitor via camera. Retails owners can't ban me and are happy when they see big bets coming. Because they will get commission on value of bet regardless of wining and losing. I moved around alot. Infact I am using atleast 9-10 different outlets.

Yeah above certain values, they need to call HQ. But I just put bets in small multiples again and again till I achieve amount I want to put on or odds change.

[ozpak]

Haven't had to deal with it in Australia but seen shop tickets sold with bad odds listed paid out at adjusted 'correct' odds a couple of times in Europe.

It will be interesting to see what Australian retail bookmakers do. I have arbed upward of $2million in last 8 months and my bets with Australian bookmakers have never been voided, cancelled or paid at adjusted odds. Even I have arbed at 8-12%, which is strictly restricted in arbing world due to palp error. Even though I am very much critic of Australian bookmakers business model because they encourage problem gambling, but they deserve praise that they pay on time and there is no cancellation of bets (atleast for me).

[Hareeba!]

I am not sure how they can monitor via camera. Retails owners can't ban me and are happy when they see big bets coming. Because they will get commission on value of bet regardless of wining and losing. I moved around alot. Infact I am using atleast 9-10 different outlets.

Yeah above certain values, they need to call HQ. But I just put bets in small multiples again and again till I achieve amount I want to put on or odds change.

perhaps you missed this story?

http://www.smh.com.au/business/online-betting-unmasked-so-are-we-all-being-gamed-by-an-entire-industry-20140413-36leo.html

[Optional]

I am not sure how they can monitor via camera. Retails owners can't ban me and are happy when they see big bets coming. Because they will get commission on value of bet regardless of wining and losing. I moved around alot. Infact I am using atleast 9-10 different outlets.

Yeah above certain values, they need to call HQ. But I just put bets in small multiples again and again till I achieve amount I want to put on or odds change.

A poster who works in a shop in the UK has told us that he is under pressure to identify and limit winning gamblers. And that the shop is assessed for profitability.

[ozpak]

perhaps you missed this story?
http://www.smh.com.au/business/onlin...413-36leo.html

I read this story while ago. Probably so far I been welcome everywhere in retail shops because I have used upward of 15 different venues to place my bets in last 8 months. But wherever I go, I scanned my rewards card. I don't want to miss on reward points as it's a big extra bonus (I know I am leaving huge trail by scanning rewards card). Thing is how many retails outlets can be managed when there are so many around every corner??? Without changing business model, Tab and Ubet can't restrict every single cash paying customer in the pubs and they don't have technology to recognize an arber or "non-genuine" customer yet who walks in a random pub, put few grands and move on.

[henryslug]

It will be interesting to see what Australian retail bookmakers do. I have arbed upward of $2million in last 8 months and my bets with Australian bookmakers have never been voided, cancelled or paid at adjusted odds. Even I have arbed at 8-12%, which is strictly restricted in arbing world due to palp error. Even though I am very much critic of Australian bookmakers business model because they encourage problem gambling, but they deserve praise that they pay on time and there is no cancellation of bets (atleast for me).

I've done around $500k total arbs on Aussie sites with many being 5%+ and have only ever had two bets voided. Those were one on WilliamHill where they had mixed the teams around and one on Palmerbet where they had mixed the teams around. (Only put $100 on each to see what would happen).

Saying that, I think they would likely void those bets were you are betting on pre-game lines while the game is being played.