Imagine winning an absurd amount of money on the Kentucky Derby, then going to collect your winnings, only to be told, “We don’t have it.”
That happened to one man in Reno, who claims the Tamarack Junction sportsbook offered him $35,000 instead of the $609,000 he is owed. Dr. Steve Friedlander turned $2,760 into $609,464 with the exacta and the trifecta in Country House’s upset win, but he will need one more win, in court, to receive his big payday.
“I went up to the ticket writer who wrote my original ticket and I said, ‘I just won a lot of money — $600,000,’” Friedlander said. “And the guy says, ‘We don’t have that kind of cash here.’”
Friedlander took that to mean that the book didn’t have $600K on hand. But then another writer came over.
“There’s a cap on these,” he said.
The writer went to the front and showed Friedlander a placard. In fine print, it said that the maximum payout on an exacta would be 150-1, a trifecta would be 500-1.
On the desk, Friedlander only then saw the sign. The sportsbook, run by William Hill, didn’t have a pari-mutuel license and therefore wasn’t protected by a guaranteed percentage payout from the pool. [Read more]
To make matters worse, Friedlander said he only used that particular sportsbook because it was close to his son’s track meet. Had he used his regular sportsbook in another part of town, the bet would’ve been paid in full. Now he’s out half a million dollars.