Sportsbet Blog

Online bookies could lose hundreds of thousands of dollars after numerous bets being placed this morning just before Melbourne Storm and the NRL announced the salary cap infringements.

Not only have Melbourne Storm lose their two premierships but all points in the 2010 season handing them the wooden spoon after only six rounds.

Online bookmaker Sportingbet took several bets at 250-1 with some punters set to win $10,000 from each bet

“We took three bets to win $10,000 and another to win $8000 for the Storm to win the wooden spoon all within 10 minutes of each other this morning,” Sportingbet Australia spokesman Bill Richmond said.

“You don’t take a series of bets like that unless someone knows something and we have suspended betting on the wooden spoon as a result.”

“Melbourne is now our worst result for the wooden spoon despite the fact they are premiership favourites.”

The TAB also took a $200 bet for Storm to take the wooden spoon the night before the announcement at the odds of $200-1 with a massive $40,000 payout. Before suspending the market the TAB received further bets that morning.

Another major online bookmaker IASbet took “farily odd” bets on the wooden spoon and have suspended betting and waiting out the storm to see what results from it all.

Australia’s only betting exchange Betfair also was hit with wooden spoon bets before the rumour become fact with Betfair spokesman Hugh Taggart saying that his agency would not void a market based on hearsay and rumour, and it would take advice from the NRL for Betfair to stop the public betting on the market.

“We would only avoid a market in an extreme circumstance.”

“Punters always bet on rumour and innuendo.”

“Our markets will be dictated by what happens in the public domain.”

It has been a very messy day for the NRL and the bookies have been cough up in the middle of it. I can’t see the bookies accepting these bets I think a refund will be given to clients that put bets on 24 hours before the announcement.

Where it could get messy is the Melbourne premiership betting. Do the bookies keep the bets or will refunds be given out. It will very interesting to see which bookmakers makes the first move with the others likely to follow suit.

Online bookmaker Sportsbet has paid out on Richmond to collect the wooden spoon after only four rounds.

With 18 rounds to go in the 2010 AFL Premiership Season, the bookie has paid out more than $100,000 to punters who backed Richmond to finish on the bottom of the ladder.
“Unfortunately for Richmond fans we think we’ll be paying out on the Tigers at the end of the season, so our punters may as well collect their cash now,” said Sportsbet’s Haydn Lane.
“There are 18 rounds to go so it’s a definite gamble.”
Richmond, who were paying as much as $5 in early Wooden Spoon markets, are now $1.25 favourites to take home the dreaded prize.

The payout applies to all bets placed before 12noon Monday 19th April.

Sportsbet is also offering odds of $5 on Richmond not winning a game this season, although one big punter has faith and has placed $10,000 at $1.16 on the Tigers winning at least one match this season.

Sportsbet is generating a reputation for paying out early on big sporting competitions. In November last year, the bookie paid out early on Tiger Woods to win the Australian Masters after two rounds when he was three strokes ahead. Woods faltered in the third round to share the lead with two others, before he shot clear on the final day to win the tournament.

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Updated Wooden Spoon Market
$1.25 Richmond
$7 North Melbourne
$12 Adelaide
$17 Melbourne
$17 West Coast
$26 Essendon
$41 Port Adelaide

Leading online bookmaker Sportsbet says Richmond is a $5 chance to go winless throughout the 2010 AFL Premiership Season.
“Given their current form it’s hard to see where the Tigers are going to find an easy kill this year,” said Sportsbet’s Haydn Lane.
“We’re offering odds of $5 to punters who think Richmond will not win a match in 2010.”

With at least four omissions from the side that lost to Sydney by 55 points, Richmond has had little support ahead of their Round 4 fixture against Melbourne.
“We cannot lay a bet on the Tigers to beat the Demons this week, which they would normally pencil in as a possible victory,” said Lane.
“They’ve drifted from $2.55 out to $3.35 to defeat the Dees, while Melbourne has firmed from $1.52 into $1.33.”

Richmond has also firmed as the outright favourite in betting for the dreaded Wooden Spoon.

“The Tigers were $5 in pre-season betting for the wooden spoon, now they’re the hot favourite at $1.45,” said Lane.
“We have taken bets of $5000 at $3.75, $3000 at $3.50 and $10,000 at $3.25 on the Tigers for the spoon.”

Toothless Tigers
$5 Richmond will not win a match in 2010
$1.16 Richmond will win a match in 2010

AFL Round 4
$3.35 Richmond (out from $2.55)
$1.33 Melbourne (in from $1.52)

Wooden Spoon
$1.45 Richmond
$5 Melbourne
$7.50 North Melbourne
$9 West Coast

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