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Bookmakers paying out early.

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Il Gialloblu
Soldier_Of_Fortune
lorus59
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Post by lorus59 Tue 12 Feb 2013, 2:48 pm

I see that some bookmakers are paying out early on bets on Man U to win the PL. Why do they do this? Surely they could get burned if something happens. Why take the risk? Can they gain from this action?

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Post by Soldier_Of_Fortune Tue 12 Feb 2013, 2:51 pm

lorus59 wrote:I see that some bookmakers are paying out early on bets on Man U to win the PL. Why do they do this? Surely they could get burned if something happens. Why take the risk? Can they gain from this action?

Publicity? Bookmakers have done it the past and have had there fingers burnt. Not sure who but I know at least one paid out on Manure winning the Prem in 97/98 and Arsenal ended up piping them.

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Post by Il Gialloblu Tue 12 Feb 2013, 2:57 pm

I was thinking about this earlier, wondering what they have to gain from it.

Publicity, for sure aye. Maybe they hope that by paying out early the punters will re-invest the winnings on other, losing bets. Apart from that, I don't know.
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Post by Ent Tue 12 Feb 2013, 5:36 pm

It also stops them taking new bets I believe.

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Post by GSC Tue 12 Feb 2013, 5:41 pm

They can just close betting rather than payout. Simply a mechanism to make them rebet their money
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Post by Whistler Fri 15 Feb 2013, 8:09 pm

Publicity all round that's for sure! Although to be honest, I don't think it's much of a risk, even with the PL'a unpredictable nature!

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Post by Guest Fri 22 Feb 2013, 5:46 pm

Paddy Power once paid out on Stoke being relegated after losing their FIRST GAME against Bolton in 2007. We all know how that one worked out.

Like Soldier says its publicity and attracts potential new customers.

It was BetFred that paid out on Utd in 98. These pay outs are a drop in the ocean to an industry bookmaker even if they do go wrong.

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Post by mystiroakey Sun 24 Feb 2013, 10:21 am

Yes its free marketing..

(well gamble marketing)

even if they pay out on another winner as well- they look at the cost of that compred to the affect gained now..

and the chances are they wont pay out again

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