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Sportsbet pays out on Hawthorn to win the flag
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TOPIC: Sportsbet pays out on Hawthorn to win the flag

Quiexo Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #1

Quiexo
Clicky thingamajy

Is it a publicity stunt, or are they serious about cutting their losses? Either way, it's pretty gutsy considering that there is still 10 more weeks before the GF...hope our boys can come along and spoil the party for them....
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shane Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #2

shane
Just a publicity stunt. Bit of a lame one.
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Raglan Matt said You Beaut

Davo Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #3

Davo
I can think of much better ways to spend $1.1M on publicity than that. Seriously?

How about giving all new and existing account holders a free $50 bet?
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Raglan Matt Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #4

Raglan Matt
Who was the last corporate bookmaker you saw lining up down at centrelink? It's a con to get money in the bag, and maybe they don't think the Hawks are certainties.
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Davo Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #5

Davo
If they keep the premiership market open, they'll be swamped by Hawthorn bets that they can't lay and will therefore lose even more money should they win.

It's possible that their book is balanced now but they can see that it soon won't be.

So they've decided to close that market to avoid more losses.
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shane Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #6

shane
I reckon they planned it in a marketing meeting in December, thinking Hawthorn would be well in front. It looks stupid paying out on the third team.
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RideoftheVagaries Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #7

RideoftheVagaries
Generally they reopen the betting on the Hawks (?). I guess lots of people who got paid out plonk their money back down on the Hawks and go again. It's definitely publicity, but they also hedge it against the money already laid down on others in the market and figure they're ahead there. Also say if X amount plonk it on the Hawks and Freo wins, when most of the bets came after Freo's odds had plunged, they recover quite a few bucks from the payout too.
;p
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Raglan Matt Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #8

Raglan Matt
Have they opened a market on who will finish second? That's the way to get more turnover when no-one will take short odds on a sure thing.
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FD1016 Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #9

FD1016
It's called Gambling Responsibly
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hypen Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #10

hypen
What does a betting company achieve by paying out before the outcome?
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Duges66 said You Beaut

Duges66 Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #11

Duges66
Publicity, more customers thru being the betting agency of choice so ultimately more profit.
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Raglan Matt said You Beaut

rogerrocks Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #12

rogerrocks
Hmmm. Looking pretty silly now.
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Raglan Matt Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #13

Raglan Matt
Nah they made their millions.
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Morgan Sportsbet pays out on Hawthorn to win the flag 8 years 8 months ago #14

Morgan
Hypen, the answer might lie in the fact that with online betting, people don't get their winnings in their pocket. It just goes into their account. People vary rarely cash in their account. By paying out earlier, you are effectively giving gamblers more opportunity to re-gamble that money, and eventually the house always wins.

If they don't pay out, and the (likely) winning bet sits there for another two months unrealised it's effectively a liability sitting on the agency's books.

And for the promotional aspects, as pointed out above.
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Sportsbet pays out on Hawthorn to win the flag