🙏 Need HELP! Payout on horse racing: 5-1 ODD's. How much should I be paid

bitbollo

legendary

Activity: 3276

Merit: 3537

Nec Recisa Recedit

Quote from: AskerOfQuestions on June 05, 2022, 03:58:05 AM

Quote from: ralle14 on June 05, 2022, 03:54:35 AM

Congrats on your win, your ticket should pay out 25 units in total as it should include your original stake, if the return is below that amount you should contact support and ask for a correction.

Sportsbooks rarely have that type of mistake but I guess it still happens once in a while. I remember being in a similar situation but in my case, they overpaid my ticket and they told me to keep it since I was a regular on their sportsbook.

I have experienced this once previously at a different sports books. I haven't mentioned the name of this site up to this point as I don't believe it was nefarious. However I was only paid 12.5 units. Currently my case is in dispute.

Thank you very much for taking the time to respond on this one. Much appreciated.

it's really strange an error like this! never heard before a similar situation. because most of the gambling sites have an automatic way for this kind of calculation or payouts.
And any trusted bookmaker will pay the right amount if they will seen this bet...in case you will not receive it or they will not provide a valid explanation, open a scam accusation about this site and provide full details https://bitcointalk.org/index.php?board=83.0

Darker45

legendary

Activity: 2576

Merit: 1860

I don't bet on horse racing so I am not that familiar with its rules, or whether there are peculiar rules involved. Even the odds format is not the usual. But 5-1 is quite easy to interpret. It would either be your $100 would become $500 or it would win you $500. Either way, since you placed 5 units it must at least be 25 units not 12.5, which is only half of what you should have received.

In fact, if Ontario Racing applies the same rules, your 5 units should give you 25 units plus your original bet, which means you should be receiving 30 units all in all.

"Example #1: A horse that wins at 5-1 will return $5.00 for every $1.00 wagered. If you had placed the minimum bet of $2 on that horse to win, your payoff will be: $10 (5 x 1 x $2) + your original bet of $2 – for a total of $12."^[1]

[1] https://ontarioracing.com/betting-101/understanding-odds

ralle14

legendary

Activity: 3346

Merit: 1914

Shuffle.com

Quote from: AskerOfQuestions on June 05, 2022, 04:05:40 AM

I disputed this 12.5 unit payout as incorrect. Their support team responded by saying that the 12.5 payout was correct. 🤯

Now I have to appeal that as well. There is where I find myself today. Need some other senior members to sure their calculations as well. Appreciate your Time and effort.

That's unusual, did they provide an explanation? Or they might have their own rules regarding their markets.

If that was the case then your bet was split between place and straight if the payout was only 12.5 but I barely bet on horse racing and I usually see one of the two being offered so I can't say if there's actually a sportsbook that lets you bet on two markets in one go.

AskerOfQuestions

newbie

Activity: 4

Merit: 0

I disputed this 12.5 unit payout as incorrect. Their support team responded by saying that the 12.5 payout was correct. 🤯

Now I have to appeal that as well. There is where I find myself today. Need some other senior members to sure their calculations as well. Appreciate your Time and effort.

AskerOfQuestions

newbie

Activity: 4

Merit: 0

Quote from: ralle14 on June 05, 2022, 03:54:35 AM

Congrats on your win, your ticket should pay out 25 units in total as it should include your original stake, if the return is below that amount you should contact support and ask for a correction.

Sportsbooks rarely have that type of mistake but I guess it still happens once in a while. I remember being in a similar situation but in my case, they overpaid my ticket and they told me to keep it since I was a regular on their sportsbook.

I have experienced this once previously at a different sports books. I haven't mentioned the name of this site up to this point as I don't believe it was nefarious. However I was only paid 12.5 units. Currently my case is in dispute.

Thank you very much for taking the time to respond on this one. Much appreciated.

ralle14

legendary

Activity: 3346

Merit: 1914

Shuffle.com

Congrats on your win, your ticket should pay out 25 units in total as it should include your original stake, if the return is below that amount you should contact support and ask for a correction.

Sportsbooks rarely have that type of mistake but I guess it still happens once in a while. I remember being in a similar situation but in my case, they overpaid my ticket and they told me to keep it since I was a regular on their sportsbook.

AskerOfQuestions

newbie

Activity: 4

Merit: 0

Hello guys,

I need some help here. I am absolutely certain I was underpaid on a wager from yesterday.

Details below:
- On Friday I wagered on a horse named 'Moonin Rusty'.
- His track odds were 5 to 1 (to win the race)

- I wagered a total of 5 units on the horse.
(The type of unit is irrelevant but for transparency the units were mbtc)

- The type of wager was a straight WIN bet.
- My horse had to finish in 1st place or I would lose the wager.

🥳 🏆 🏇
Hey whaddya know! Moonin Rusty won the race! 1st Place!!

- At 5-1 ODDS my 5 Unit winning wager should pay a total of (X) Units.

- The 5 units have been deducted from my account at the time of wager.

--- How many units should I be paid when the wager is settled?

Topic: 🙏 Need HELP! Payout on horse racing: 5-1 ODD's. How much should I be paid (Read 60 times)