TURFFONTEIN PUNTER ROBBED OF R325k !

shrek wrote: I'm sorry, the guys been punting for 30 years and didn't know about bookies limits.

When I was last at Marshalls in Umthlanga over Christmas last year there were tote operators, not sure if this has changed since then.

If there are still tote facilities there then the punter has only himself to blame.

There still are...and the MWOS clerks also inform you to take certain bets on the tote eg. swingers, trifecta, quartet...don't know about other exotics like PA, P6 and JP though...

when you open a tab account do they send you their rules and regulations,i still have never received anything.i've had to go on line to read them,their fixed odds section have ripped off people because they don't no the rules.read their rules and see if the fixed odds section can comply with them,in particually to the 14 day recordings and your balance after every transaction

Blondie wrote: It's easy to talk because it hasn't happened to all the neigh Sayers let's see how you feel when you collet 25% of what you should've collected every single one of us would go off our rocket.why would the operators fly him in from Cape Town when they racing there tomorrow and could have put him on Tellytrack then,come on guys smell the wood from the trees the open bet is shit and agree with LG it should be outlawed.

STILL ... NO SYMPATHY.

For a guy that has been punting for 30 years..... he should have known better

the good wrote: I see it this way.
If this scenario takes place , which in my opinion should, then the punter is being robbed.
The bookie gets the bet from the punter
The bookie takes it back with the tote
The bet wins and the bookie gets paid by the tote the FULL AMOUNT.
The bookie pays the punter the limit amount.
So the bookie make a huge amount outof being the agent.
The bookie also gets a kickback from the tote for his tote agency
The flaw is that the bookies hold the bet whereby everyone looses, including mainly the stakes pot.
My final observation is that it should be law that bookies pay the full dividend

Why are you so sure that the Bookie takes back the Bet with the Tote.

From my experience very little if any "Exotic" Bets are "covered" at the Tote.

Even if bookie took back the bet with the Tote, it is a form of re-insurance to offset against risk of winning bet...re-insurance is common in financial services industry to manage risk of event happening...

I re-iterate what I have posted in the past...the bookies should refrain from the open bet as it is not their intellectual capital to use...their area of expertise should be fixed pricing...

We are still debating issues that have been tested in court and all appeals exhausted(I agree that it defies logic that "P" and their legal team could not convince a judge that a pool type bet is not a fixed -odds bet,but hey)
That is over..................... but the operators seem to be at a loss to make bookmakers want to compromise!!

Insofar as this interview, it is all emotive because it was one punter with a large amount .................will they grant an interview to all punters who back 5/1 shots each way on the tote and get R2 a win and R1 a place................just as much robbery over time, but spread out over many punters and many events!!!!!

Just one other point ...............if bookmakers took all open bets back with the tote ,there would be no loss to the tote ............ :silly:

The anti Operator, "bookies are Saints" brigade have bombarded this thread as usual. Nice to see some objective and balanced posts in between -
Muhti, Agra and others who blame the Punter's ignorance -
1) Surely, here on AFRICAN BETTING CLAN you should care for the Punter ? This is a betting site, not a bookie defence site, or am I wrong?
2 ) The limit of R500k can easily be misread to mean just that - a R500k limit. The percentage of the limit is confusing.

Magi - So you punt with the bookies because of their superb facilities. These superb facilities allow them to limit the dividend. You (and many others) find this ok.
So, you will be ok if the Operators did the same - renovate a few branches to superb facilities, stand the open bet and set limits , then pocket the balance.
NO YOU WONT ! You will scream murder on this site and then open threads investigating the Operators influence on programming and handicapping, which you will allege, they control to create big dividends in order to pocket the balance or that they lay off to minimise dividends etc. There will be rantings and ravings here, that the Operators are standing the open bet ! And they will be attacked most vigorously for limiting payouts .

Over the Air - obviously you have not read or misread my many posts on the Open bet/bookies. I have never been anti bookies, just anti the open bet. I place my fixed odds bets with bookies and my tote bets with tote. Simple.
Open bet belongs to the tote and bookies are paying far short in terms of funding racing.
ULTIMATELY MARSHALLS PAID THE PUNTER FAR SHORT OF WHAT THE TOTE WOULD HAVE PAID HIM. And that is a shame.
This site, which calls the Punter "stupid" should, instead have a sticky at the top of page one, entitled, PUNTERS BEWARE . The sticky should warn Punters about open bet limits.

That's if Punters welfare is the focus of the BETTING CLAN !

And just for clarity on the reverse situation. I recently won 40% of a pick 6 from which I collected 130k on the tote. If I had placed my bet at the bookies which I normally would have, the amount would have been 156k. Perhaps one of the bookies would want to interview me

Perhaps Shadley can explain this anomaly or was his bet for R26000 that was returned by the bookmaker on a winning bet + the dividend.

Shadley good point. I have also experienced this in the past!.

What would have the tote paid had ALL the open bets been placed on the tote itself. A lot less I can guarantee that for sure.

In the original " Robbery" figure the amount is incorrect as the 20% should have been included in the tote dividend to make a fair calculation/comparison.

rob faux wrote: Just one other point ...............if bookmakers took all open bets back with the tote ,there would be no loss to the tote ............ :silly:

And NO Profit to the Bookie !