Kentucky Derby Loss for a Nevada Man
A Kentucky Derby Loss was the result for Steve Friedlander who placed several bets on horse racing. Friedlander told the media that he went to place a bet a Tamarack Junction Casino using the William Hill Sportsbook. He placed bets on the trifecta box and the exacta box. His bets amounted to $2.700, which would have resulted in a $600,000 win for him had it not been for a technicality.
Some sportsbooks don’t offer bank wires as a payment method especially the smaller sportsbooks. However, a vast majority of sportsbooks in the United States will provide the bank wires as a depositing method.
Friedlander did not know that there was a 150-1 cap on the exacta bets as well as a 500-1 cap on the trifecta bets. William Hill US stated that this practice is legal and has been the standard for many decades. The statement further noted that customers are made aware of this policy through signage in the various William Hill sports betting locations.
William Hill US also stated in a statement that it didn't make financial sense to offer pari-mutual betting at all its 115 Nevada locations. This policy is not available in other states in the country.
The statement went on to say that the policy allowed race books to book without absorbing unlimited liability. William Hill congratulated Friedlander on his trifecta and exacta wins.
Nevada Gaming Board to decide on Kentucky Derby Loss
Steve Friedlander can appeal to the Nevada Gaming Board over his Kentucky Derby Loss. However, William Hill was very confident that it has complied with the gaming regulations of the state. They further stated that the prominent signage of the maximum caps should have alerted Steve to the policy.
It wasn't a complete loss at the Kentucky Derby for Friedlander while he may not have won $600,000