Sportsbet is an offshore book isn't it? Nobody is going anywhere with any lawsuits there.
It's just a publicity move for their book and if shtf for them/biden they've deemed it worth it to take the loss. Books paying bets out early is nothing new, and it's honestly not a bad thing as long as they pay out the live underdog if the unlikely occurs
Also, you're on an offshore book. They literally fund criminal enterprises with the money they take in. Yea, corruption is rampant. But this is what we deal with until we get widespread legalization.
Not really influence popular opinion. Those guys don't pay out cash. They pay out credits in the platform. Those people that are getting the payout will feel good about themselves and will play some more games and bets -- and that is commission.
All the while the actual money is their custody, on some very liquid and safe investment but generating profits.
Publicity move when a book does this. In fact the only time I've ever heard of sportsbet is when people discuss their MMA odds. And I work in the industry
Bookmakers do it all the time world wide, not long ago they payed out on the wrong election winner in Australia costing them Millions , betting industry investigations say it is done through a corrupt process of laying off bets, where pay offs are made to launder money, especially recently with Chinese connections .I am not really into serious betting but read up on it years ago when they payed out early on the Dakar Rally for the wrong team.
It is because of the way they lay off bets on these specialized one off betting opportunities ,basically criminals set up their own pyramid scheme built off it,a lot of the money flows from china through the Ukraine in money laundering operations ,a lot of times pay outs involve containers of high end stolen cars & motorbikes that the Chinese then on sell through huge re-birthing /chop shop markets .
They have done the same on sporting bets for years
Sportsbet to lose at least $5.2 million thanks to election bungle
Bribes get laundered.
Bet on something. Give the bet to someone. Cash in on bet. Laundry complete.
Sportsbet is an offshore book isn't it? Nobody is going anywhere with any lawsuits there.
It's just a publicity move for their book and if shtf for them/biden they've deemed it worth it to take the loss. Books paying bets out early is nothing new, and it's honestly not a bad thing as long as they pay out the live underdog if the unlikely occurs
Also, you're on an offshore book. They literally fund criminal enterprises with the money they take in. Yea, corruption is rampant. But this is what we deal with until we get widespread legalization.
Not really influence popular opinion. Those guys don't pay out cash. They pay out credits in the platform. Those people that are getting the payout will feel good about themselves and will play some more games and bets -- and that is commission.
All the while the actual money is their custody, on some very liquid and safe investment but generating profits.
Wondering the same thing.Seems like a colossally stupid risk to take.
Publicity move when a book does this. In fact the only time I've ever heard of sportsbet is when people discuss their MMA odds. And I work in the industry
Nah they just eat the loss and pay double.
Bookmakers do it all the time world wide, not long ago they payed out on the wrong election winner in Australia costing them Millions , betting industry investigations say it is done through a corrupt process of laying off bets, where pay offs are made to launder money, especially recently with Chinese connections .I am not really into serious betting but read up on it years ago when they payed out early on the Dakar Rally for the wrong team.
It is because of the way they lay off bets on these specialized one off betting opportunities ,basically criminals set up their own pyramid scheme built off it,a lot of the money flows from china through the Ukraine in money laundering operations ,a lot of times pay outs involve containers of high end stolen cars & motorbikes that the Chinese then on sell through huge re-birthing /chop shop markets .
They have done the same on sporting bets for years
Sportsbet to lose at least $5.2 million thanks to election bungle
https://www.smh.com.au/federal-election-2019/sportsbet-to-lose-at-least-5-2-million-thanks-to-election-bungle-20190519-p51oy1.html
Betting agency's $5m Cameron Smith blunder in NRL grand final
https://au.sports.yahoo.com/nrl-grand-final-sportsbet-5-million-cameron-smith-blunder-004036090.html