Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

does a bookmaker have to pay out on an extrodinary bet?

  • 16-06-2014 10:04pm
    #1
    lifeandtimes
    Closed Accounts Posts: 2,021 ✭✭✭


    Hi Everyone,

    I'm not sure if this is the appropriate place to start this thread and mods please move if it is but i have question in relation to a bet and a bookmakers liability to pay out.

    Currently the world cup is on and i thought i would check the odds on a €1 accumulator bet,picking the favorites of the next 20 matches to win and for both teams to score during the match.

    Obviously the odds are outrageous but if this happens the return is €69,161,851,483.81 ..the number is so high I'm unsure of the commas its actually written as this €69161851483.81

    If this bet comes up does a bookmaker have to pay out or do bookmakers have something in their terms that says you cant bankrupt the company with a bet?

    Any advice on this would be greatly appreciated


Comments

  • #2
    P_1
    Registered Users, Registered Users 2 Posts: 14,681 ✭✭✭✭P_1


    Usually they have a max payout per sport buried in their Ts and Cs


  • #3
    efb
    Closed Accounts Posts: 35,514 ✭✭✭✭efb


    Soccer is €1,000,000
    It's displayed prominently in store tbf


  • #4
    risteard7
    Registered Users, Registered Users 2 Posts: 879 ✭✭✭risteard7


    Each bookmakers have pay out limits. My local one is €50,000. The bigger ones like paddy power and Ladbrokes would have higher limits.


  • #5
    Adam4850
    Registered Users, Registered Users 2 Posts: 47 ✭Adam4850


    I think if you were to bet online you would be entitled to a higher amount.


  • #6
    john.han
    Closed Accounts Posts: 258 ✭✭john.han


    Bets are not legally enforceable contracts so there would be no obligation to pay and as others have said all bookies have max pay-outs in the terms and conditions.


  • Advertisement
  • #7
    mike65
    Closed Accounts Posts: 88,972 ✭✭✭✭mike65


    PP used to have a max payout of 1,000,000 then they halved it the bastards! (placing the 1 euro 20 event accu twice is the solution of course)


  • #8
    Ken.
    Closed Accounts Posts: 12,898 ✭✭✭✭Ken.


    0-0 Nigeria/Iran. You can stop spending now


  • #9
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    john.han wrote: »
    Bets are not legally enforceable contracts so there would be no obligation to pay and as others have said all bookies have max pay-outs in the terms and conditions.

    That's right. Contracts for wagers are void; unenforceable in court. Bookies don't have to pay out.

    S.36 of the Gaming and Lotteries Act 1956.

    The only reason that the bookies pay is because it would be end of their businesses if they didn't.


  • #10
    Frynge
    Registered Users, Registered Users 2 Posts: 1,667 ✭✭✭Frynge


    mike65 wrote: »
    PP used to have a max payout of 1,000,000 then they halved it the bastards! (placing the 1 euro 20 event accu twice is the solution of course)

    Most their t's & c's now limit the max payouts to 1 a day.


  • #11
    Losty Dublin
    Registered Users, Registered Users 2 Posts: 13,258 ✭✭✭✭Losty Dublin


    Bookmakers have been known to occasionally buy back multible bet dockets from punters who, after a run of good results, may win sn extraordinary amount of money. Very rare that it would come to this, mind; rarer even than you getting into such a situation :)


  • Advertisement
  • #12
    Santa Cruz
    Banned (with Prison Access) Posts: 3,126 ✭✭✭Santa Cruz


    john.han wrote: »
    Bets are not legally enforceable contracts so there would be no obligation to pay and as others have said all bookies have max pay-outs in the terms and conditions.

    However if a bookmaker refuses to pay out on a bet it can be grounds for refusal to issue a licence when he applies for renewal.
    You would have to submit an objection and the court will make a decision of the evidence given


Advertisement