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Topic closed. 22 replies. Last post 10 years ago by Todd.

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United States
Member #47087
October 18, 2006
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Posted: October 22, 2006, 1:47 pm - IP Logged

horse racing an the lottery are considered Parimutuel betting  The bill passed allows for this type of betting. Heres some info:

"Parimutuel betting (from the French language: pari mutuel, mutual betting) is a betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets.

The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and all sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games such as Lotto South.

Parimutuel gambling is frequently state-regulated, and offered in many places where gambling is otherwise illegal. Parimutuel gambling is often also offered at "off track" facilities, where players may bet on the events without actually being present to observe them in person.

Parimutuel betting differs from fixed odds betting in that the final payout is not determined until the pool is closed – in fixed odds betting, the payout is agreed at the time the bet is sold.
"

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    United States
    Member #119
    February 19, 2002
    527 Posts
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    Posted: October 22, 2006, 9:53 pm - IP Logged

    People who claim that a ticket service can (or has) run off with a jackpot is clueless about how it works.

    Todd, actually it IS factual and you can read all about it in a LOTTO NEWS article that was published several issues back (they come out every two weeks).  It's all documented right there.  I'm sure if you contacted them they might grant you permission to reproduce it at your site.  Why don't you?  If you do, you'll be doing your LP members a service and you'll also see that I'm more than clueful

    By the way, don't I always back up what I say?  :-)  That's ok, I'm not offended.

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      United States
      Member #119
      February 19, 2002
      527 Posts
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      Posted: October 22, 2006, 10:06 pm - IP Logged

      I have never heard of such a thing.  The only incident on the radar was when Regal Service Bureau bought a ticket for a customer in the Texas Lottery which won a jackpot and the state of Texas denied payment because their rules said they could.

      All too often the "they say" we hear things from are the little jackasses that live in our heads.  BobP

      Hey Bob, just because you "have never head of such a thing" does not mean it did not happen.  As I said, it's all in an article "recently" published by Lotto NewsOh and yes, there are lots of things that live in my head, but not "little jackasses".  Have you checked your own lately? 

      "Always tell the truth. That will astonish some and gratify the rest". - Harry S. Truman, Democrat

        BobP's avatar - bobp avatar.png
        Dump Water Florida
        United States
        Member #380
        June 5, 2002
        3102 Posts
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        Posted: October 23, 2006, 1:59 am - IP Logged

        Hey Bob, just because you "have never head of such a thing" does not mean it did not happen.  As I said, it's all in an article "recently" published by Lotto NewsOh and yes, there are lots of things that live in my head, but not "little jackasses".  Have you checked your own lately? 

        "Always tell the truth. That will astonish some and gratify the rest". - Harry S. Truman, Democrat

        Produce the article.

        I've seen plenty of stories from state lotteries about why you shouldn't spend your money anywhere but with them, no proof supplied just vague statements about what might happen.

        There is a point where we move from legitimate butler services to services Todd has exposed, it isn't fair to tar honest service providers with that brush.

        BobP

          Todd's avatar - Cylon 2.gif
          Chief Bottle Washer
          New Jersey
          United States
          Member #1
          May 31, 2000
          23260 Posts
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          Posted: October 23, 2006, 6:47 am - IP Logged

          I have never heard of such a thing.  The only incident on the radar was when Regal Service Bureau bought a ticket for a customer in the Texas Lottery which won a jackpot and the state of Texas denied payment because their rules said they could.

          All too often the "they say" we hear things from are the little jackasses that live in our heads.  BobP

          Actually, Bob, the jackpot was paid, if you are referring to the Pic-a-State thing.

           

          Check the State Lottery Report Card
          What grade did your lottery earn?

           

          Sign the Petition for True Lottery Drawings
          Help eliminate computerized drawings!

            Todd's avatar - Cylon 2.gif
            Chief Bottle Washer
            New Jersey
            United States
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            May 31, 2000
            23260 Posts
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            Posted: October 23, 2006, 6:51 am - IP Logged

            BobP,

            I realize that you are not one to go around making careless statements.  I think my point here is that what Greg initially said is dead wrong.  He claimed that a lotto service ran off with a winning ticket.  He did not state something about legal problems, he said someone stole a winning ticket.

            On that basis, I said it was clueless to think such a thing could work.  Someone cannot just grab the ticket and run off to the islands.

             

            Check the State Lottery Report Card
            What grade did your lottery earn?

             

            Sign the Petition for True Lottery Drawings
            Help eliminate computerized drawings!

              BobP's avatar - bobp avatar.png
              Dump Water Florida
              United States
              Member #380
              June 5, 2002
              3102 Posts
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              Posted: October 24, 2006, 2:45 am - IP Logged

              BobP,

              I realize that you are not one to go around making careless statements.  I think my point here is that what Greg initially said is dead wrong.  He claimed that a lotto service ran off with a winning ticket.  He did not state something about legal problems, he said someone stole a winning ticket.

              On that basis, I said it was clueless to think such a thing could work.  Someone cannot just grab the ticket and run off to the islands.

              Arrrrgh!!! Damn brain rot.  Yes it was Pic-a-state, but that was the reason Regal went out of business.  In my memory the guy sued and lost, never got paid, but if he did I'm glad.

              A New Jersey police officer felt the curse of Friday the 13th in full force today when Texas Lottery officials refused to pay him a $10.5 million jackpot. In a case that could become the first test of a 1994 Federal law prohibiting the interstate sale of state lottery tickets, the Texas Lottery Commission said that Scott Wenner, of Riverside, is not entitled to the Nov. 23 jackpot because he bought his ticket from an unlicensed out-of-state dealer.

              January 14, 1995 New York and Region News
              MORE ON LOTTERIES AND: POLICE, WENNER, SCOTT, PIC-A-STATE INC, TEXAS, NEW JERSEY

              This is all there was, I'd of had to pay to read the full story and it isn't worth subscribing for one story. BobP
                Todd's avatar - Cylon 2.gif
                Chief Bottle Washer
                New Jersey
                United States
                Member #1
                May 31, 2000
                23260 Posts
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                Posted: October 24, 2006, 6:40 am - IP Logged

                Arrrrgh!!! Damn brain rot.  Yes it was Pic-a-state, but that was the reason Regal went out of business.  In my memory the guy sued and lost, never got paid, but if he did I'm glad.

                A New Jersey police officer felt the curse of Friday the 13th in full force today when Texas Lottery officials refused to pay him a $10.5 million jackpot. In a case that could become the first test of a 1994 Federal law prohibiting the interstate sale of state lottery tickets, the Texas Lottery Commission said that Scott Wenner, of Riverside, is not entitled to the Nov. 23 jackpot because he bought his ticket from an unlicensed out-of-state dealer.

                January 14, 1995 New York and Region News
                MORE ON LOTTERIES AND: POLICE, WENNER, SCOTT, PIC-A-STATE INC, TEXAS, NEW JERSEY

                This is all there was, I'd of had to pay to read the full story and it isn't worth subscribing for one story. BobP

                BobP,

                The best part of the story is that it has a happy ending, as the person was eventually paid the jackpot after taking the lottery to court.

                The Pic-a-State case was very long, with a few reversals, as it was the first of its kind.  It led to Arlen Spector of Pennsylvania adding a component to federal law essentially saying that you can't sell lottery tickets from one state to another.  Hence, lottery service companies stopped selling lottery tickets and started selling a butler service, in which the ticket itself is only a document that you're paying someone to purchase (at face value) and hold for you in that state. 

                 

                Check the State Lottery Report Card
                What grade did your lottery earn?

                 

                Sign the Petition for True Lottery Drawings
                Help eliminate computerized drawings!