BGP lose a million bucks

[Houlahan's Dream 541]

Odds on look on, is a punting adage with a lot of merit. 

Regarding Legarto the other night - with a new track possibly favouring front runners in a speed event and Legarto known to come from the back - I felt he was vulnerable to a runner getting away in the straight. So it proved. 

[Pete Lane 639]

.

[THE TORCH 672]

On 1/28/2024 at 8:46 AM, We're Doomed said:

It's a promotional gimmick. It is not intended as a way to make money for people.  The TAB can only make money off it if they lose, in contrast to tote betting where the TAB can make money if they break even or show a small profit.

I don't imagine many on here took a share but it appeals to a certain element of joe public.

The desperate, addicted, and the lonely. Why would you do it?

[Pete Lane 639]

13 minutes ago, THE TORCH said:

The desperate, addicted, and the lonely. Why would you do it?

Because people can spend their money on what they choose to.

[Gruff 2,807]

2 hours ago, Houlahan's Dream said:

Odds on look on, is a punting adage with a lot of merit. 

Regarding Legarto the other night - with a new track possibly favouring front runners in a speed event and Legarto known to come from the back - I felt he was vulnerable to a runner getting away in the straight. So it proved. 

Concur. Best horse no doubt but vulnerable given its style, like Levante better with the last run after cover, and with an underated horse with a 4 len headstart was always going to prove interesting , this was not a surprise to many. Take nothing away from Desert L had to chase the tearaway on a hot opening 800 and finished it off to win in one of the fastest miles seen here ever.

[Gruff 2,807]

1 hour ago, THE TORCH said:

The desperate, addicted, and the lonely. Why would you do it?

You depressed Torchy? 0800 111 757. All the best

[Idolmite 2,566]

5 hours ago, arjay said:

I was surprised the backed Legarto at those short odds. I have never backed a horse paying less than $3 for a win, but go you blokes, best wishes in the future

 

They only took Legarto as on leg of a multi, the other leg which was successful. It looked like a good idea at the time. 

[THE TORCH 672]

When was their multi placed? I thought the TAB had "paid out" for Legarto on the Friday. Does that not apply to multis?

[Idolmite 2,566]

4 minutes ago, THE TORCH said:

When was their multi placed? I thought the TAB had "paid out" for Legarto on the Friday. Does that not apply to multis?

Of course it wouldn't include multis. 

[THE TORCH 672]

1 minute ago, Idolmite said:

Of course it wouldn't include multis. 

So they pay out on win bets but it still has to win for the multi takers. Is this an Ellerslie Double Standards Society idea of yours and Petes?

[Gruff 2,807]

They had Desert L Legarto out for $4.80 , they knew his race pattern brought in a smidgen of doubt but didnt cover with the 12s onto Orchestral for close to 36-1... I'm not talking hindsight here I like many called it pre race. I'd love to be a fly on the wall in their decision making

[Gruff 2,807]

4 minutes ago, THE TORCH said:

So they pay out on win bets but it still has to win for the multi takers. Is this an Ellerslie Double Standards Society idea of yours and Petes?

How can they pay out on multis before the last leg is completed? And that happens raceday....why did they frame a market on Legarto on the day if it was going to be refunded after the race?

[Idolmite 2,566]

33 minutes ago, THE TORCH said:

So they pay out on win bets but it still has to win for the multi takers. Is this an Ellerslie Double Standards Society idea of yours and Petes?

You're quite thick really, aren't you. They (apparently, I never heard it myself) paid out on one horse, and I'm assuming that was only on fixed odds win bets? Or was it only Futures win bets? If they were paying out on multis they'd have to pay out the win bets on those horse too. Hell, they might as well just pay out on every horse running during the entire day Saturday, on Friday night!!! No double standards TORCH. Just difficult to explain to somebody that can't multiply 2 x 4. 

[THE TORCH 672]

6 minutes ago, Idolmite said:

You're quite thick really, aren't you. They (apparently, I never heard it myself) paid out on one horse, and I'm assuming that was only on fixed odds win bets? Or was it only Futures win bets? Maybe fixed odds place bets too? If they were paying out on multis they'd have to pay out the win bets on those horse too. Hell, they might as well just pay out on every horse running during the entire day Saturday, on Friday night!!! No double standards TORCH. Just difficult to explain to somebody that can't multiply 2 x 4. 

Really? Is that the best you've got? They paid out on fixed odds bets on the Friday. Vividly advertised. It should mean they pay out on the Legarto "leg" that anyone had in their multis. Tell me where I said all "legs" were to be paid out as well. Boy you're having a cracker of a day with your mate Pete aren't you. 

[THE TORCH 672]

15 minutes ago, Gruff said:

How can they pay out on multis before the last leg is completed? And that happens raceday....why did they frame a market on Legarto on the day if it was going to be refunded after the race?

Because the TAB paid out on Legarto on the Friday. If Legarto is a "leg" of a multi shouldnt it be deemed a winner too? Irrelevant which order of "legs" it is.

[Pete Lane 639]

10 minutes ago, THE TORCH said:

Because the TAB paid out on Legarto on the Friday. If Legarto is a "leg" of a multi shouldnt it be deemed a winner too? Irrelevant which order of "legs" it is.

.

[Idolmite 2,566]

12 minutes ago, THE TORCH said:

Really? Is that the best you've got? They paid out on fixed odds bets on the Friday. Vividly advertised. It should mean they pay out on the Legarto "leg" that anyone had in their multis. Tell me where I said all "legs" were to be paid out as well. Boy you're having a cracker of a day with your mate Pete aren't you. 

Yes, I'm having a cracker of a day. 

That's better than being crackers

[Pete Lane 639]

11 minutes ago, THE TORCH said:

Because the TAB paid out on Legarto on the Friday. If Legarto is a "leg" of a multi shouldnt it be deemed a winner too? Irrelevant which order of "legs" it is.

So in effect you're saying that Legarto is part of an otherwise winning multi that the TAB should pay it out?

I'll wager they certainly haven't done that unless you can prove otherwise.

[THE TORCH 672]

2 minutes ago, PeteL said:

So in effect you're saying that Legarto is part of an otherwise winning multi that the TAB should pay it out?

I'll wager they certainly haven't done that unless you can prove otherwise.

Oh my God its back again. Only if all the other legs have been a winner as well. If anyone took the Orchestral to win/Legarto to win multi that we are talking about should they not receive their winnings considering the TAB paid out on Legarto to win on the Friday? Is that not a closed case as you'd put it?

[Pete Lane 639]

2 minutes ago, THE TORCH said:

Oh my God its back again. Only if all the other legs have been a winner as well. If anyone took the Orchestral to win/Legarto to win multi that we are talking about should they not receive their winnings considering the TAB paid out on Legarto to win on the Friday? Is that not a closed case as you'd put it?

So did that actually happen or is it just one of your little 'theories'?

[Idolmite 2,566]

21 minutes ago, PeteL said:

So in effect you're saying that Legarto is part of an otherwise winning multi that the TAB should pay it out?

I'll wager they certainly haven't done that unless you can prove otherwise.

No. The way I understand it he wanted all multis put on during the week that included Legarto, paid out in full on Friday as well. 

[gubellini 4,010]

Two questions remain for me- Did BGP get a rebate on their massive bets? If so did they share the rebate with their investors?

 

 

 

[Pete Lane 639]

Here's the actual wording from the TAB. Note it's for FUTURES bets only.

We've paid out EARLY on Legarto in the Elsdon Park Aotearoa Classic!

If you've had a bet on the star mare in the Futures and/or Boosted Future markets, you'll now have your winnings in your TAB account. 

 

[Pak Star 716]

The Legarto Futures market was paid out on Wednesday during the barrier draw, not Friday.  I think they did it in that time period between the Futures Market turning into a Final Field market.

Important distinction that any multis taken on Legarto on a final field market would NOT have been paid out.

And I have never seen the futures market  protected by many safeguards so stands to reason they wouldn't give you a green tick in advance for a multi leg on the futures market.

[nomates 3,609]

Aside from all the debate here , they look a bit silly now , no such thing as a certainty , especially in NZ .