Bookies max payouts?

[zooloooolooz]

hi there,
I was having a discussion with some friends and none of us would agree or seemingly have any idea. I don't bet much (just for fun) so this is purely academic. My friends and I were having an argument about what the maximum high street bookies would pay out (on the horses) and whether they will pay that maximum amount in cash if you requested/demanded a cash payment?

Does anyone know the answer to this?
Thanks.

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Crazy horses!
Ta ta.

[TheOldhamWhisper]

Hi and Welcome to the forum.

Individual bookies have different limits for payouts and even different max payouts for different sports! Most advertise 'no maximum' payout on Horseracing Singles but who's likely to be putting the sorts of wager needed to worry a bookie on a single horse?

Would they pay out in cash? Theoretically, yes - realistically - not a chance! If someone was to insist on a large cash payout, they would probably have to explain why to the fraud squad!!

[mathare]

I think generally speaking where this is a maximum payout on the nags it's somewhere between £100k and £1million depending on the bookie.

As Oldham says, you can ask for cash but you wouldn't get it. None of the shops carry anything like that much in cash, doing so is just asking for someone to try and rob them. They'd pay you by cheque most likely (possibly direct bank transfer), and take lots of publicity shots of you holding a comedy large cheque

[Street cry]

If you ask for cash on a big win they deliver it to your abode within ten days by securicor type service in cash boxes

[Win2Win]

It also depends whether the bets are singles, multiples, Tote, etc....I doube any two bookies are the same.....You can win what you like on Betfair. :)

[Street cry]

yes but you cant do a goliath on betfair can ya

[Win2Win]

yes but you cant do a goliath on betfair can ya

You're a muppet if you do one anywhere! :D

[Street cry]

i know ha ha ha

[zooloooolooz]

You're a muppet if you do one anywhere! :D

Why so? What if you won?

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I have another question (please bare with me if these are dumb questions): I have notriced that courses have different grades attached to them (ie, Ascot is graded 1, Ayr is graded 2 and Bath is graded 3 etc); what does this actually mean and translate into? Might a 'good' placed loss at a grade 1 course last time out have more merit than a mediocre win over a grade 4 course?

How significant (if any) are these grades in actually results and performance?

Thanks - have fun.

[TheOldhamWhisper]

Racecourse grades are based (mainly) on the facilities of the course and whilst this often means the racing is of a better class, there is no guarantee that the form will carry from one track to another.

As for the multiple bets comment - bookies love this type of bet because a single loser often wipes out over half the bets! If you think that multiple bets are a good idea, take a coin and toss it twice. If it comes up heads on both coins, add one to your bank - any other esult, take one away. Start with a bank of 100 and see how many 'bets' you can make before going broke! As this is the equivalent of 2 even money shots in a double, you'll soon understand why the bookies love multiple bets!

[Win2Win]

Why so?

Well it would be easier to win the lottery! :splapme

You'll never see a bookie adverting and giving a 'special' on a single! They happen to be the bet with the smallest profit margin for them.

[zooloooolooz]

Thanks for all your replies.

Well it would be easier to win the lottery!

No it wouldn't.

Difficult and unusual? Maybe.
Impossible/dependant on blind luck/chance/ESP? Not at all.

The lottery is completely and utterly random. Is horse racing?

I cast twelve heads in a row using a penny a few weeks ago. Was that random?

I make less than ten bets each year - what do I know!

[Win2Win]

Lottery uses 6 numbers, a Goliath 8 selections.

The lottery is random.....hence the name lottery , whereas although horse racing is not random, unless you know how the extensive stats work, it may as well be, hence the bookies make 95%+ of the profits out of multiples.

The Scoop 6 is only 6 selections like the lottery, easy to win that is it?

[zooloooolooz]

horse racing is not random

I know - so by definition it can't be as hard as the lottery, even attaining twelve winning horses must still be easier that the lottery!

The Scoop 6 is only 6 selections like the lottery, easy to win that is it?

I wouldn't know - I've never tried. But I would imagine that the six races are chosen specifically to confound the prospects of winning (which enhances the non-randomness of the situation against your favour) and more importantly - it depends on your tools.

Difficult and unusual I should say.

All the best...
Z

[Win2Win]

Just because something is not random, does not make it any esier to fathom out, hence the bookies make more wonga than the lottery.

[wb]

The main problem with multiples zooloooolooz, is that the bookie over-round is compounded by every leg of the bet.