BetCBSports Pay Out on Long Shot bets that GIBBS was going to be new head coach of Washington

Search

Active member
Joined
Jun 20, 2000
Messages
71,780
Tokens
http://www.onlinecasinonews.com/ocnv2_1/article/article.asp?id=4670

All punters love a long shot, and BetCBSports have announced that eleven shrewd speculators have benefited substantially from the surprise appointment of Joe Gibbs as the Washington Redskin’s head coach. The online sportsbook paid out over $80,000 in winnings at odds of 100-1, including $25,000 each to two winners for their $250 stakes.


'Initially we had Gibbs at 200-1, but after a large number of bets came in on a single day, combined with information from our sources close to the Redskins, we brought it down to 100-1,' said BetCBSports Senior Odds Maker, Dan Johnson. 'I still think 100-1 wasn't high enough because Gibbs was truly a long shot in every sense of the word. So, you can imagine our shock when the news broke. At the same time, considering the amount of wagers we had on the other possible replacements, we came close to breaking even in the end.'


In fact, Gibbs was such a long shot that some of the winners rang the bookmakers to ask if it was all a hoax. 'The top three favourites, who were listed at 2-1, Jim Fassel, Dennis Green, and Ray Rhodes, were also the most wagered on,' said Johnson. 'That is one of the reasons that Gibbs had such high odds, coupled with the fact that he had been away from the game for over ten years and was on no one's radar screen.”
 

in your heart, you know i'm right
Joined
Mar 21, 2002
Messages
14,785
Tokens
wouldn't this be the kind of situation where like joe gibbs' brother could make a ton of money the day before the announcement?

i always wondered about bets like that or "who will win the heisman". seems like a book can really get burned if people in the know have betting accounts.
 

Rx. Senior
Joined
May 20, 2001
Messages
15,046
Tokens
Well another thing to keep in mind is this. The BOOK announced these payoffs, NOT the players!

For all we know, they only had 1 better that placed this bet and maybe he wasnt paid off! It is just great advertising for the book
 

Forum statistics

Threads
1,108,223
Messages
13,449,675
Members
99,402
Latest member
jb52197
The RX is the sports betting industry's leading information portal for bonuses, picks, and sportsbook reviews. Find the best deals offered by a sportsbook in your state and browse our free picks section.FacebookTwitterInstagramContact Usforum@therx.com