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
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