SBG cancel Formula 1 wagers 2 races in to the season

boar · Apr 23, 2009

It appears SBG have decided to cancel all wagers placed on Jensen Button at 70-1 to win the Formula I World Title & replace them with wagers at 10-1.

Obviously SBG could have taken this decision before the start of the season but decided to wait for the first 2 races to take place before
informing their clients.

SBG does have a very broad, vague rule within in rules which appears to give them the power to alter or void any wager after any price movement.

I dont think it is asking too much for a book to employ line managers to pay attention to any news on markets that they are offering.

SBG appears to be the type of book that gives the offshore industry a bad name. I really cant fathom how a site such as this would include such a disreputable outfit as one of its featured betting operations.

steaktartar · Apr 23, 2009

wow i've never heard of this....i have obviously seen wagers cancelled because of a bad line but never have i seen wagers replaced at a new line just because it moved on them

whalewager · Apr 23, 2009

That is shitty if it is like he says.

maxdemo · Apr 23, 2009

was there an injury to do this....and did they replace the wager or asked u to re-enter the bet

Maniac · Apr 23, 2009

That is disgraceful behavior quite frankly!

So their F1 guy got caught out with a stale futures line and is now trying to call foul on it.

It is not a case of 70/1 being a wrong line or blatant palpable error - in that case I can understand altering or voiding - in this case though 70/1 was a fuly correct and fair price, they were just too slow to react to the new rules changes and the subsequent line crash.

Do you happen to know what date the wagers were placed ?

Just a quick look and I can see that 100/1 and 80/1 was available on Button at a couple of UK books at one point and right up until the 5th of March - at which point the line started crashing, but there was still a couple of 66/1's around on 12th March until a 10/1 average across the board on the 14th.

So depending on the exact date the wagers were placed then there is still an argument for a higher price than the 10/1 depending on what the market average was at the time.

But quite frankly they should be ashamed of themselves and IF (big IF) they really were going to void or alter them then it should have happened BEFORE the Qualifying session for the very first race of the seaosn at the very latest...not 2 races into the season!

If it helps the line history was taken from here:

http://www.oddschecker.com/motor-sport/formula-one/drivers-championship/bet-history/jenson-button

SportSavant · Apr 23, 2009

Folks, please remember.

If you have a dispute with one of our sponsors, please email wilheim@therx.com with

your name, account number at the sponsor book, and a detailed synopsis of what happened including dates and ticket numbers if you have them.

huckleberry · Apr 23, 2009

that was a legit line at the beginning of the season, no way a book can invoke the bad line rule here. they should be held accountable, no way they should get away with this.

boar · Apr 23, 2009

I didn't place any bets on the FI Champs at SBG myself but a good friend of mine was one of the 3 (possibly more) people who were treated in this manner.

I did place bets elsewhere at the same time at similar odds.

I can provide some more background.
The big move for the Brawn team and its 2 drivers, Button & Barichello, did occur that week as they were burning up the track in preseason testing.
All the US books were caught out by this as they are not inclined to read overseas sports websites.

SBG does have a very/broad rule which in theory gives them the power to either void or reassess any wager:

Every effort will be made to ensure that all information available on the website is accurate. However, if an error is made in the prices or conditions published online, our sportsbook rules state that we reserve the right to correct any mistakes and to delete any bets already in action or to settle them at the right line. Management also reserves the right to cancel or adjust any wagers that are accepted but have been influenced by public media information.

For example when Randy Moss was traded to the Patriots 2 years ago SBG could have waited for the first 2 weeks of the season before deciding to alter any wagers placed before the season.

It is completely unacceptable to address this problem after their worst liabilty has won the first 2 races of the season.

The Prescription is one of the most respected names in the industry. Its advertisers should not behave like cowboys who are likely to give the offshore industry a bad name.

Heartman · Apr 23, 2009

If everything you say is correct, boar, then SBG is ripping your friends off.

JohnnyB · Apr 23, 2009

boar said:
the prescription was one of the most respected names in the industry.

fyp.

1cheater · Apr 24, 2009

So, anyone get a hold of SBG for an explanation?

JohnnyB · Apr 24, 2009

No, but TheRX deleted my post because I didn't kiss their ass they way they do their sponsors'.

Big part of the reason this place went downhill fast. They will do anything to keep a sponsor from getting exposed publicly. That's why they always pull the "ERRRRRRRR, just contact Wil by email instead of making a post on the forum." They might help you settle YOUR dispute, but they don't want you to warn other posters and couldn't care less if they can continue to scam others.

Cusipz · Apr 24, 2009

Sad but apparently true. Between this and the cast of oldtimers who have moved on, this place barely feels familiar anymore.

1cheater · Apr 24, 2009

They won't move this one cause it's 100% legit.

JohnnyB · Apr 24, 2009

Cusipz said:
Sad but apparently true. Between this and the cast of oldtimers who have moved on, this place barely feels familiar anymore.

This is the other reason this place has gone way downhill. TheRX will most likely always be the biggest of the sportsbetting forums, but they can't touch the quality of a few of the others (and no, I'm not talking about "across the street." That place is just a smaller version of this place).

With guys like Ice, GD, and TT gone to name a few, it really DOESN'T even feel like the same place. I realize TT was involved in certain business endeavors which conflicted with his mod job here and TheRX really had no choice but to let him go, but that doesn't make his presence any less missed.

The whole "keep any disputes hush hush" has never sat well with me. The only way to stop books from acting in a shady manner is to call them out publicly. If everything is done behind the scenes, more people will continue to sign up and get screwed, which the management here apparently
has no qualms about. I realize places like this need advertisers to stay in business, but there's a better way to do it. Just look at the whole Sportsbook.com's canceling of winning correlated parlays for an example. Screwed people out of a lot of money, yet still an advertiser here.

Even if management helps you out with a dispute, the books are allowed to keep advertising. It's akin to you taking your car in to an autobody shop to get your car fixed and later you realize the airbag was taken out while your car was in the shop. You call the cops, they recover and return your stolen airbag, but still allow the thieving auto shop to stay in business and continue ripping other unsuspecting people off.

The industry as a whole is admittedly shady, but there comes a point where enough is enough.

JohnnyB · Apr 24, 2009

Haha, Jake T. such a fucking homosexual.

dm,n gfdxknjlfdcjmkdszjklmzmZXdzd

EDIT: Just read the PM. Jake, you're still a tosser.

JohnnyB · Apr 24, 2009

Johnny B said:
This is the other reason this place has gone way downhill. TheRX will most likely always be the biggest of the sportsbetting forums, but they can't touch the quality of a few of the others (and no, I'm not talking about "across the street." That place is just a smaller version of this place).

With guys like Ice, GD, and TT gone to name a few, it really DOESN'T even feel like the same place. I realize TT was involved in certain business endeavors which conflicted with his mod job here and TheRX really had no choice but to let him go, but that doesn't make his presence any less missed.

The whole "keep any disputes hush hush" has never sat well with me. The only way to stop books from acting in a shady manner is to call them out publicly. If everything is done behind the scenes, more people will continue to sign up and get screwed, which the management here apparently
has no qualms about. I realize places like this need advertisers to stay in business, but there's a better way to do it. Just look at the whole Sportsbook.com's canceling of winning correlated parlays for an example. Screwed people out of a lot of money, yet still an advertiser here.

Even if management helps you out with a dispute, the books are allowed to keep advertising. It's akin to you taking your car in to an autobody shop to get your car fixed and later you realize the airbag was taken out while your car was in the shop. You call the cops, they recover and return your stolen airbag, but still allow the thieving auto shop to stay in business and continue ripping other unsuspecting people off.

The industry as a whole is admittedly shady, but there comes a point where enough is enough.

And this is coming from someone who had the main page of TheRX forums set as my homepage for 3+ years.

DarkStar · Apr 25, 2009

This is a horrible book with a horrific track record.I had no clue that they
were a sponser here.Wow:>(that is downright scary.

wilheim · Apr 25, 2009

For The Record

Just because a book is a sponsor here does not give us the right to tell them how to run their business. I received no formal communications from anyone, Rxer or otherwise asking me to look into a bet they had changed by SBG Global, just this post by Boar. Should I be contacted by someone who actually had a wager changed after the fact I would immediately do my best to get the player his original bet or a good reason why he could not have it.

Many of these dispute threads are written by posters for their friends which is fine and their perrogative but I can't do anything without some sort of contact with the actual players.

SBG Global is a huge book who have been a sponsor now going on their 2nd full year and I can't recall a single signifigant problem with them. By that I mean a major dispute where a poster was not paid fairly and in a timely manner.

Personally, I am not an auto racing fan and do not know who Jensen Betton is or the name of any other drivers in what is called Formula 1 racing.

Boar is welcome to have his friend or friends contact me and I will be glad to to do whatever I can to help them out. I need the SBG Golbal acct number of the player, name on that account and details of the bet sent to wilheim@the rx.com and CC person19481950@yahoo.com

Regarding threads about our sponsors not being allowed to stand, I beg to differ, we allow all legitimate threads stand as long as they are not profane or abusive. Discuss the matter but keep it civil is all we ask.

Thank you, wilheim

wilheim · Apr 25, 2009

Regarding the Rx.com changing.

Everything changes, posters, mods and sponsors come and go as time goes by. Older posters stop posting for various reasons but everyday new posters sign up to keep the site as active as ever. Moderators and sponsors also come and go for one reason or another.

Bottom line is TheRx.com had zero to do with SBG Global's decision to change the line on this auto racing prop. If we tried to run our sponors businesses for them we would soon be out of business ourself.

In the last 6 months disputes about slow pays are way down to almost zero as many of our sponsors who were having difficulty with processing withdrawls have resolved those difficulties.

Sure I offer help behind the scenes but I have never told a player that I would only help him if he did not post about the problem. Posters are free to discuss a sponsor as long he or she keeps it civil. This thread is a case in point, Boar posted about the change on the 23rd today is the 25th.

I don't ask for anything, not even a thank you to help our posters with any kind of problem with any of our sponsors. I have helped hundreds over the last four years and still have the emails to proove it.

This thread is intact including some bashing by veteran poster Mike B. who apparently is unhappy with the way The Rx.com is operated. I really cannot do much to change his opinion. I do appreciate all of his contributions over the years but all I can do now is apologise to him for what he perceives as an effort by This site to cheat it's members when the truth is the exact oppisite, our mod staff has spent countless man hours helping posters in their dealing with our sponsors over the years.

There are also many threads in the archives of our database similar to this one. We do not delete threads about our sponsors if they are legitimate and civil despite what some people may insinuate.

Thanks, wilheim