HELP! me figure this out... Money dispute...

Defying · Apr 9, 2013

I was in a March Madness pool....

In first place going into last night. If Michigan Wins, I win in a landslide. If Louisville Wins, I don't cash.

I RECEIVED an offer for a split. $305 a piece. I agreed. I wasn't exactly aware of the entire situation, but I knew if Michigan Wins, I win. I took it. Was paid the $305, watched the great game..

Today I receive a message from the Pool Host saying, I finished in 6th because of Louisville Won ( only top 2 pays). I need to refund the money because I didn't win...

The $305 was a split from 1st and 2nd, I never had a chance at 2nd. Therefore, I should of never had the possibility of splitting that. The 1st place prize was $450. 2nd $160 ( EDIT 2nd place 160 not 180)

Now I know this guy is stand up, wife won last year and he paid all easily and quickly... But he is saying I am not entitled to any split.

My argument is I am entitled to split the 1st place prize, $225 a person. Therefore Ill refund $80. The person that won 1st place (who I did split with) needs to refund $80 from our split, and the $160 gets paid to the 2nd place.

Because if Michigan would of Won, I would of Won First place, yet still splitting all the prize money. The only mistake was the amount, we should of been splitting the 1st place prize, not the entire pot.

RIght? Or wrong?

aceduecetrey · Apr 9, 2013

Who sent you the offer?

Defying · Apr 9, 2013

pool host contacted me, with the offer

Even then that's a question of who made a mathematical mistake, and really IMO irrelevant. I'm not upset that I didn't hedge for as much as I thought I did... It was a mistake, I just dont see how I am not entitled to half of first place, when we had an agreement, and If Michigan would of won, I would of won, and still had to split.

Even then I would of still had to refund $80 of it, because 2nd place wasn't mine to hedge.

Defying · Apr 9, 2013

Opinions please, feel free to say I am wrong. I just want the right thing to be done

aceduecetrey · Apr 9, 2013

Was the guy who offered you the split in the running also? I would say a deal is a deal and you accepted it, so it should be honored.

shdw01 · Apr 9, 2013

there were only two outcomes

so there were two possible 1st and two possible 2nd.....if they were 4 different people (I think that is likely with the way these contests go)....the two in the running for 1st should split 1st if agreed upon....and the two in the running for 2nd can split 2nd

fwiw, i have no idea where $305 came from and although it isn't your fault, i would've questioned what was the exact split scenario because that $305 makes zero sense....you either make $450 or nothing, why should you have gotten $305 in the split?

Defying · Apr 9, 2013

aceduecetrey said:
Was the guy who offered you the split in the running also? I would say a deal is a deal and you accepted it, so it should be honored.

Yes, if Louisville Won, He Won,

If Michigan Won, I Won

The mistake was whoever did the math, assumed if Louisville WON I would finish 2nd, and If Michigan won he would finish 2nd.. Therefore, they added 2nd place in the split...

When in reality we were only splitting 1st place, so we both need to refund our portion of 2nd place. If Michigan would have won, he would of had 2nd place all to himself. Since Louisville won, we split first on our prior agreement, and someone else won 2nd.

Murphy8276 · Apr 9, 2013

I am not sure I fully understand.. but if you were splitting it two ways then you were splitting 1st and 2nd place. so the total of that was sent to each of you at $305 a piece?...and then in reality if michigan loses you dont place and a new 3rd party would take over 2nd.. so You owe half of the first place prize back imo.. even though the pool host sounds like he calculated it messed up and he is going to make you look bad and his whole pool.. you agreed on a split and it was granted.. the 1st place guy should realize that and the 2nd place guy should definitely not be short (however that works, 90 per each of you I assume)

-murph

Defying · Apr 9, 2013

shdw01 said:
there were only two outcomes

so there were two possible 1st and two possible 2nd.....if they were 4 different people (I think that is likely with the way these contests go)....the two in the running for 1st should split 1st if agreed upon....and the two in the running for 2nd can split 2nd

fwiw, i have no idea where $305 came from and although it isn't your fault, i would've questioned what was the exact split scenario because that $305 makes zero sense....you either make $450 or nothing, why should you have gotten $305 in the split?

1st place $450 + $160 2nd place = 610 for pot, so they split it down the middle. for the $305

I agree that I have no right to have any part of the 2nd place pot.
Therefore, I should refund my portion of 2nd place, HALF 160/2 - $80 and the other guy should too....

His stance is I should refund it all $305 because I didn't have the ability to get 2nd place.... BUt I would of won 1st place outright if Michigan Won.

Murphy8276 · Apr 9, 2013

The split should have been worded as follows.

Split 1st Place - 2 ways
2nd place - split if Michigan wins -2 ways / If louisville wins - pay out 2nd place.

Shoudnt have even paid the money based on that or just the 225 each to start and have the 180 riding.

for all purposes somewhere the numbers are wrong.. 450 + 180 = 630 / 2 = 315 not 305

-murph

Defying · Apr 9, 2013

Murphy8276 said:
The split should have been worded as follows.

Split 1st Place - 2 ways
2nd place - split if Michigan wins -2 ways / If louisville wins - pay out 2nd place.

Shoudnt have even paid the money based on that or just the 225 each to start and have the 180 riding.

for all purposes somewhere the numbers are wrong.. 450 + 180 = 630 / 2 = 315 not 305

-murph

I am sorry, 2nd place is $!60, typo

Betallsports · Apr 9, 2013

Murphy8276 said:
I am not sure I fully understand.. but if you were splitting it two ways then you were splitting 1st and 2nd place. so the total of that was sent to each of you at $305 a piece?...and then in reality if michigan loses you dont place and a new 3rd party would take over 2nd.. so You owe half of the first place prize back imo.. even though the pool host sounds like he calculated it messed up and he is going to make you look bad and his whole pool.. you agreed on a split and it was granted.. the 1st place guy should realize that and the 2nd place guy should definitely not be short (however that works, 90 per each of you I assume)

-murph

Yeah agree with Shdw and Murph...

a Deal was set ( unless it was a Total mistake ) But the deal was set between the 2 ?? possible winners, so First place prize money is what we should be talking about here.

Prize for 1st place was $450, the Split would be $225 each guy... The Host did the Math wrong.

shdw01 · Apr 9, 2013

yes murph, that is what i mean by 305 made no sense...it should've been $315 if they were splitting everything

shdw01 · Apr 9, 2013

Defying said:
I am sorry, 2nd place is $!60, typo

honestly 2nd should get $160 (he earned 2nd place)

you should get $225 (since you agreed to split the $450)

and even though splitter should get $305, he should be stuck with the bill if it was his oversight...so instead of $305 he should get $225

Defying · Apr 9, 2013

Murphy8276 said:
The split should have been worded as follows.

Split 1st Place - 2 ways
2nd place - split if Michigan wins -2 ways / If louisville wins - pay out 2nd place.

Shoudnt have even paid the money based on that or just the 225 each to start and have the 180 riding.

for all purposes somewhere the numbers are wrong.. 450 + 180 = 630 / 2 = 315 not 305

-murph

Yes, I agree.

He is saying I am not entitled to the $225 split of first, I say I am, that's the difference.

It's not a lot of money, its the prinicpal. If Michigan would of won, I would have won it all $450, but I took the offer to split, regardless if the number were accurate... Even if Michigan won, I would be required to send back $80 and that's fair. I was just overpaid, but that math error should discontinue me from the split, particularly after the fact. IMO.

Betallsports · Apr 9, 2013

Defying said:
1st place $450 + $160 2nd place = 610 for pot, so they split it down the middle. for the $305

I agree that I have no right to have any part of the 2nd place pot.
Therefore, I should refund my portion of 2nd place, HALF 160/2 - $80 and the other guy should too....

His stance is I should refund it all $305 because I didn't have the ability to get 2nd place.... BUt I would of won 1st place outright if Michigan Won.

He wrong because like you said... there was 2 possible ways... Mich wins, You Win... Lou wins, the other Wins.
an Offer was made to you ( and guess the other guy ) BEFORE the game... Let's Chop it up 50/50
only mistake was that he Included 2nd place prize in the Split.

TyBounce · Apr 9, 2013

The pool host should not have made an offer to split the pot unless it was suggested by the leader.

In any event , the pool host made a mistake and since this is a pool and not a 1 on 1 bookie deal , and being the stand up guy you are , you should refund 1/2 the money (152.50) and then leave it to the pool host to pay the 2nd place finsher the remaining 30 bucks.

Its not your fault and you acted in good faith , but if you shouldn't have won , give half back. .... and find a better pool next time.

Defying · Apr 9, 2013

Ty Bounce said:
The pool host should not have made an offer to split the pot unless it was suggested by the leader.

In any event , the pool host made a mistake and since this is a pool and not a 1 on 1 bookie deal , and being the stand up guy you are , you should refund 1/2 the money (152.50) and then leave it to the pool host to pay the 2nd place finsher the remaining 30 bucks.

Its not your fault and you acted in good faith , but if you shouldn't have won , give half back. .... and find a better pool next time.

So that deal I made, I essentially agreed to go from chance of winning $450

to taking a guaranteed $152.50?

shdw01 · Apr 9, 2013

wait, was it the host or the winner that offered the deal? (is it the same guy?)

Defying · Apr 9, 2013

shdw01 said:
wait, was it the host or the winner that offered the deal? (is it the same guy?)

not the same guy, no idea who made the math mistake, it was brought to me by the host

HELP! me figure this out... Money dispute...

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