Bookmakers Take The Punt on Spring Carnival Profits
October 19th 2009 08:18
Tipping Competitions are a grand Australian tradition that can make Spring Carnival interesting for everyone, from the obsessive tipster convinced of his near-psychic prowess to your sports-averse Italian grandmother who can't pronounce 'equestrian'. And of course the bookies (who stand to win or lose in the biggest possible way) will be watching proceedings with as much anticipation as the punters...
This has never been truer than it was at the 2009 year's AFL Grand Final. Australia's biggest private betting company Sportsbet had offered a jaw-dropping promotion that defied the Laws of Business (that is, the Law of Profitability) - punters who bet up to $200 were guaranteed a refund if their side lost by less than six points!
Imagine how Sportsbet CEOs must have been biting their nails when the siren blew with the Cats leading by six points. Max Rooke still had a chance to score an after-the-siren goal. When he scored - and increased the Cat's winning margin - he saved Sportsbet from having to refund 16,000 punters (as well as paying out winnings to those who backed Geelong).
It's been dubbed the 'final kick that saved the bookies'. Needless to say, Sportsbet isn't being so generous with their refunds in the lead-up to Spring Carnival week!
They are however, offering a tipping competition with over $85,000 in cash and prizes available. And as always, it's free to register.
The new Sportsbet commercial for the Spring Carnival 2009 Tipping Competition premiered on free-to-air TV over the weekend, just in time for The Age Caulfield Guineas Day (Saturday 10th October) and - most critically - Luxbet.com Cranbourne Cup Day (Sunday 11th October).
Sportsbet isn't the only booking company in danger of having a generous promotion come back to haunt them. Every year Luxbet.com offers what is known as the Luxbet.com Caulfield-Cranbourne Bonus. If a horse wins both the Caulfield and Cranbourne Cups its people are eligible for a 1 million bonus!
This year's Cranbourne winner Sermon (a surprising old horse - trainer Robbie Laing is said to have a knack for revitalising the oldies) was being watched very carefully indeed. When he was not nominated for the critical second (Caulfield) event, bookies breathed a sigh of relief.
'The $1 million bonus for winning both the Cranbourne Cup and Caulfield Cup (2400m) is safe as Sermon is not nominated for next Saturday's Group 1 feature' sports writer Carl Di Lorio reported in The Virtual Form Guide.
Spring racing proceedings are far from over but 'long shot punters' are already enjoying massive payouts. None has attracted more media attention than emerging star Alcopop, who's odds were a massive $301 in September for the Melbourne Cup but have jumped to $7.50 after what commentators called a 'demolition job' on Herbert Power Stakes rivals. One bookmaker - Michael Sullivan - was so impressed with the five-year-old gelding he has offered to buy him.
'You just have to be impressed with the way he won' an awed Sullivan is reported to have said.
There is a lot of money and a lot of interest flying around this year. To get involved and share the excitement simply register at Sportsbet for the 2009 Tipping Competition.
This has never been truer than it was at the 2009 year's AFL Grand Final. Australia's biggest private betting company Sportsbet had offered a jaw-dropping promotion that defied the Laws of Business (that is, the Law of Profitability) - punters who bet up to $200 were guaranteed a refund if their side lost by less than six points!
Imagine how Sportsbet CEOs must have been biting their nails when the siren blew with the Cats leading by six points. Max Rooke still had a chance to score an after-the-siren goal. When he scored - and increased the Cat's winning margin - he saved Sportsbet from having to refund 16,000 punters (as well as paying out winnings to those who backed Geelong).
It's been dubbed the 'final kick that saved the bookies'. Needless to say, Sportsbet isn't being so generous with their refunds in the lead-up to Spring Carnival week!
They are however, offering a tipping competition with over $85,000 in cash and prizes available. And as always, it's free to register.
The new Sportsbet commercial for the Spring Carnival 2009 Tipping Competition premiered on free-to-air TV over the weekend, just in time for The Age Caulfield Guineas Day (Saturday 10th October) and - most critically - Luxbet.com Cranbourne Cup Day (Sunday 11th October).
Sportsbet isn't the only booking company in danger of having a generous promotion come back to haunt them. Every year Luxbet.com offers what is known as the Luxbet.com Caulfield-Cranbourne Bonus. If a horse wins both the Caulfield and Cranbourne Cups its people are eligible for a 1 million bonus!
This year's Cranbourne winner Sermon (a surprising old horse - trainer Robbie Laing is said to have a knack for revitalising the oldies) was being watched very carefully indeed. When he was not nominated for the critical second (Caulfield) event, bookies breathed a sigh of relief.
'The $1 million bonus for winning both the Cranbourne Cup and Caulfield Cup (2400m) is safe as Sermon is not nominated for next Saturday's Group 1 feature' sports writer Carl Di Lorio reported in The Virtual Form Guide.
Spring racing proceedings are far from over but 'long shot punters' are already enjoying massive payouts. None has attracted more media attention than emerging star Alcopop, who's odds were a massive $301 in September for the Melbourne Cup but have jumped to $7.50 after what commentators called a 'demolition job' on Herbert Power Stakes rivals. One bookmaker - Michael Sullivan - was so impressed with the five-year-old gelding he has offered to buy him.
'You just have to be impressed with the way he won' an awed Sullivan is reported to have said.
There is a lot of money and a lot of interest flying around this year. To get involved and share the excitement simply register at Sportsbet for the 2009 Tipping Competition.
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