Champions League Final MBS Refund

Trampas

PP saying around 3 million it is going to cost them.

http://paddypowerblog.wordpress.com/2011/05/28/champions-league-final-mbs-refund/

I for one have no sympathy for them

Bluetonic

The question is, without the MBS how much would they have taken on the markets included in the MBS? The promotion greatly increased the amounts taken so much that bookies not normally noted for their offers on such markets (VC for example) came out with an offer.

I would hazard a guess that the vast majority of money taken by PP would not have been placed if not for the offer. Agreed? I know a number of PP customer who places upwards of €200 each on these markets as a "bet to nothing". Given that some of those customers either signed up for the offer and now remain PP customers, place bets on other markets/events they would not normally have, or will stupidly re-invest their money on another PP market, I would say that it was a very successful move on PPs part.

I think you are being a little naive with your sympathy.

okidoki987

Wasn't refund 100 per customer?

myflipflops

Divide that figure by at least 3 and probably by 6.

Whether the refund was limited or not (did it include shops??), there is no chance in the world they turned over 3 million on those markets.

Bluetonic

okidoki987 wrote: »

Wasn't refund 100 per customer?

In theory, but in practice as this was run in the shops too it was very unenforceable as very easy to get someone else to collect your refund.

okidoki987

Whether the refund was limited or not (did it include shops??), there is no chance in the world they turned over 3 million on those markets

Biggest game of the year, 2 Top teams, Messi and a good chance of getting your dosh back?

myflipflops

okidoki987 wrote: »

Biggest game of the year, 2 Top teams, Messi and a good chance of getting your dosh back?

90% plus of the turnover is still on match betting, draw no bet and handicap betting.

With the MBS in mind, if they turned over 1 million on those markets, they had a very busy event.

It's pretty much common practice for Powers (and everyone else) to lie through their teeth about these types of figures. As a general rule, you should divide by 3 whenever a bookmaker makes an anouncement like this. As an example, I think they claimed they were liable for 2/3 million or something ridiculous if Jedward won Eurovision. That kind of liability wouldn't even be allowed from board level. As a PLC, they have specific rules about this kind of thing.

premierstone

While I agree with you flipflops that any figures released by bookies are to be taken with a pinch of salt, I certainly wouldnt be dividing by 6 in this case or 3 tbh, apart from the MBS you also had to settle all winning bets aswell, so the turnover didnt need to be €3m, for example Pedro was 8/1 first goalscorer and the scorecast would have been huge aswell, for example I personally had €500 on the game, €250 on draw and €50 on 5 different players to be first goalscorer of which one was Pedro, so Powers had to pay me out on all the loosing bets as well as Pedro meaning a return of €900, the point Im trying to make is the turnover didnt need to be anywhere near £3m for it to have actually cost then that.

FortuneChip

premierstone wrote: »

for example I personally had €500 on the game, €250 on draw and €50 on 5 different players to be first goalscorer of which one was Pedro, so Powers had to pay me out on all the loosing bets as well as Pedro meaning a return of €900, the point Im trying to make is the turnover didnt need to be anywhere near £3m for it to have actually cost then that.

Would you not have gotten back €650?
Win-Draw-Win betting wasn't listed as a refunded market.

I get your point though, pinch required! Plus, because of the appeal of the special, people that wouldn't usually even bet would have considered it a bet to nothing and had a go on a few things like correct scores etc

premierstone

FortuneChip wrote: »

Would you not have gotten back €650?
Win-Draw-Win betting wasn't listed as a refunded market.

I get your point though, pinch required! Plus, because of the appeal of the special, people that wouldn't usually even bet would have considered it a bet to nothing and had a go on a few things like correct scores etc

Yes €650 is correct my bad, havent collected yet and was under the impression the win-draw-win market was part of it a bit of a mugs mistake tbh, never read the conditions and went on what a ''guy in the pub'' told me :rolleyes:

FortuneChip

Sorry to dampen your spirit! Still, profit is profit! And rest assured I did not make a profit! Bet with my heart instead of my head... Says is all really