The usual settlement proceedure in this case should be "Dead Heat" rules in which a customer would have half of his stake settled as normal, and the other half settled as a loser for each selection - unless there are more than 2 tied, in which case the stakes would be split proportionately. (1/3 stake for 3-way tie, 1/4 stake for 4 way etc).
Different books have different rules, but this is the fairest way and is the same way dead heats are settled in Golf, Horse Racing etc.
Having said that, as a one-off, we decided to pay out in full on both Kobe + Shaq - but usually, it would be settled as per the above rules. Did cost us a few k more, but not enough to worry about in the grand scheme of things!
Any book that settles this market as a "push" should be ashamed of themselves UNLESS it specifically states in their own rules that this would be the case.
Its one thing to have a poor, or uncommon, rule on your site as long as it is settled accordingly - but to have no rule in place and just decide to take the easy option is not the actions of a reputable book.
Lets face it - limits on props like this should be low enough not to drastically affect a books bottom line so why not at least pay someone out - even if it is at dead heat rules...
Different books have different rules, but this is the fairest way and is the same way dead heats are settled in Golf, Horse Racing etc.
Having said that, as a one-off, we decided to pay out in full on both Kobe + Shaq - but usually, it would be settled as per the above rules. Did cost us a few k more, but not enough to worry about in the grand scheme of things!
Any book that settles this market as a "push" should be ashamed of themselves UNLESS it specifically states in their own rules that this would be the case.
Its one thing to have a poor, or uncommon, rule on your site as long as it is settled accordingly - but to have no rule in place and just decide to take the easy option is not the actions of a reputable book.
Lets face it - limits on props like this should be low enough not to drastically affect a books bottom line so why not at least pay someone out - even if it is at dead heat rules...
So here's the scoop on the book I use (it's a private on-line book...local book runs it so not worthwhile to throw out the name since none of you guys would have access to it).
They paid out as per the "dead heat" scenario described above, but they adjusted the line to the closing line. So even though I locked in on Shaq at 20/1 (so should have been paid 10/1), they said the closing line was 18/1 and adjusted my payout to 9/1. My buddy had Kobe at 4.5/1. The closing on Kobe was 2.5/1 so he was paid 1.25/1. I think it's BS, but the money amount wasn't big enough to get in an argument over it. I did however, want to get clarification so I know going forward. It's highly unlikely I'll place any more future wagers with this outfit.
They paid out as per the "dead heat" scenario described above, but they adjusted the line to the closing line. So even though I locked in on Shaq at 20/1 (so should have been paid 10/1), they said the closing line was 18/1 and adjusted my payout to 9/1. My buddy had Kobe at 4.5/1. The closing on Kobe was 2.5/1 so he was paid 1.25/1. I think it's BS, but the money amount wasn't big enough to get in an argument over it. I did however, want to get clarification so I know going forward. It's highly unlikely I'll place any more future wagers with this outfit.
Disclaimer should have read "If ties price will be split between # of winning players" your odds should be split in half of what you bet it at not at the closing number. Depending on their software they had no other choice but to grade it based on closing number however they should manually adjust winning wagers. Not a very common occurance so perhaps they are not familiar with what their procedure should be. Keep this in mind for future wagering in which a tie can occur. The Oscar's are right around the corner. Hope this helps.
