$888,888 Bet on Afleet Alex at MVPracebook.com!

[GrandGouda]

Originally Posted by skippy

I think there is a calculation error. He doubled his money so it should be around $1.6M.

The $1,022,221.20 is his profit. $2 pays $4.30 so $888,888 pays $1,911,109.20, but that includes the original wager.

Originally Posted by BigdaddyQH

$1,022,221.20 is the gentleman's profit, and MVP's loss on that single wager. My guess is the MVP lost more over all because unlike the track, MVP had to pay off the track odds no matter how much money they took on Afleet Alex, and I doubt that they came close to taking in enough money on the other horses to cover the losses they incured on the other wagers. So the Million Dollar loss may just be the start of it for MVP. Either way, it is going to take them one hell of a long time to recover from this hit, if they can recover at all.

Weren't you the one who posted the article about how much money the offshores made on the Derby? Maybe MVP is even now...

Originally Posted by skippy

You keep passing yourself off in here as a very knowledgeable gambler and have connections to offshores. If that's the case, then you would know how they would've covered their butts to minimize their losses. From your statements above, you are not as knowledgeable as you think you are and have NO clue on how they operate.

He's also quick to pat himself on the back after events are over without ever posting a prediction before hand. Unless it's about weather affecting a game being played in a dome...

Originally Posted by BigdaddyQH

If you think that they could lay off that action, think again. The best thing that could happen to offshore books is to see a major offshore book take a major hit. It's called competition, and unlike this forum, (whom players wish good luck to others even though they may have wagered on the opposite team that the player took), offshore books hope that their book wins and the rest lose. I do not know how MVP operates, but I do know that no book in their right mind would have accepted a wager like that without being able to move the odds. They had to pay track odds, something they had no control of. A book has to be able to control their losses, and MVP did a very poor job doing that. If MVP could have paid off at 1/5 instead of 5/5, that would have been a different story.

Skippy, why don't you tell us how you think MVP managed to lay some of this action off. I would be interested in your knowledge regarding such things. Also tell us who you wagered on today. It is obvious who I took.

Contrary to your blow-hard claims, it is not obvious who you took. You never in either this thread nor in the Horse forum posted your pick. Please stop claiming to pick the winner (in multiple sports over multiple forums) without posting your plays.

Also, who's to say MVP didn't take this wager as a publicity stunt and then layed off the vast bulk of it elsewhere. The owners/operators of MVP could easily have made $10,000 bets at various books that I'm sure they have accounts at in order to lay off the bet with no risk. They'll collect their winnings and pay out the asian gentleman's winnings. Unlike most sports, due to the paramutual nature of the track, there is no "juice" on the bet. For all you know, they could have layed off all $888,888 of the bet elsewhere and suffer zero loss due to this bet, but gain a ton of free publicity. Do you actually think that MVP would not have layed off a large portion of this wager, again with no juice penalty to them?

Contrary to your statment, this was not a "stupid" move by MVP. It was a genius move. How much free publicity did they get from it? How much is that worth? And at no risk assuming they layed off a large portion of the money.

Originally Posted by BigdaddyQH

Right. I guess this guy has no brains. By the way, how much money did you win today? It is also obvious that you do not have that kind of money, or brains for that matter, since he knew what he was doing, and you obviously did not, according to that post.

Hopefully you will be suspended, or better yet, banned, for that comment. Jack does not tolerate insulting other members.

[skippy]

Originally Posted by GrandGouda

$1,022,221.20 to be exact... ($2 payed $4.30)

I understand now. That amount was the profit made. Sorry for the misunderstanding GG.