Lance Michael - you got to read this

I have taken a PA at the Vaal today with Lance Michael. Totally disappointed with their limits. Although the PA dividend was R 6890 the maximum payout limit is 2500/1 so instead of collecting 50% of R6890 I got paid 50% of R2500 = R1250

It literally pays to the read the fine print.

Date Reference Sport Tournament Event Market Bet type Price Bet Stake Final price Scratching deduction Status
03-Sep-2015 11742 Horse Racing VAAL SAND Race 1 3 7 8/ 7 9 10/ 1 2 7 9/ 1 2 7 9/ 2 3 5 10/ 1 2 8/ 1 3 7/ Banker - R1300.00 R84.24 R0.00 - Win

naresh wrote: I have taken a PA at the Vaal today with Lance Michael. Totally disappointed with their limits. Although the PA dividend was R 6890 the maximum payout limit is 2500/1 so instead of collecting 50% of R6890 I got paid 50% of R2500 = R1250

It literally pays to the read the fine print.

Date Reference Sport Tournament Event Market Bet type Price Bet Stake Final price Scratching deduction Status
03-Sep-2015 11742 Horse Racing VAAL SAND Race 1 3 7 8/ 7 9 10/ 1 2 7 9/ 1 2 7 9/ 2 3 5 10/ 1 2 8/ 1 3 7/ Banker - R1300.00 R84.24 R0.00 - Win

Not defending LM but is that not the same rule with all bookies for the open bet?

Bob every bookmaker has different limits for open bets. Thats why I dont play the Pick 6 by the bookmakers, Hollywood has by far the best limits. 2500/1 is shocking, just took it for granted it will be like 100000/1. If Hollywood only offered to take the Pick 3 online I wont be in this problem.

LM Limits below.

Horse Racing
Open Bets

All Open Bets are subject to the following limits:


Open Bet Limit

Swinger

500 Per 1 Bet Unit

Double

1000 Per 1 Bet Unit

Trifecta

10000 Per 1 Bet Unit

Quartet

20000 Per 1 Bet Unit

Exacta

500 Per 1 Bet Unit

Jackpot

50000 Per 1 Bet Unit

Pick 6

100000 Per 1 Bet Unit

PA

2500 Per 1 Bet Unit



The maximum payout per Open Bet (Swinger, Double, Trifect, Quartet, Exacta) is R100,000. However, should the maximum payout of R100,000 exceed the Saftote Pool then the Saftote Pool will be used as the maximum payout.

The maximum payout per Exotic Bet (Jackpot , Pick 6 and Place Accumulater) is R100,000. However, should the maximum payout of R100,000 exceed the Saftote Pool then the Saftote Pool will be used as the maximum payout.

In the event that the Saftote payout is less than the payout limits displayed in the table above, the Saftote dividend will be used for payout purposes. Should the Saftote payout exceed the payout limits displayed in the table above then the amounts in this table will be used as the dividened for payouts and / or percentage payouts, not exceeding R100,000-00 for Open Bets and R100,000-00 for Exotic Bets.

Does anyone what BetExhange limits are

Naresh you need to query that because they way I see it...payouts are based on saftote dividends on open bets therefore should have been paid 50% of the Pa dividend declared.... However if the dividend exceeded the 100k limit the the rule kicks in....as I found out with Wsb whose limit was 1mill till recently when they increased to 2 million.....I got Queens plate meeting pick 6 and though it paid 1.5million I got paid % of 1 million coz that was their limit... Fair coz I accepted terms and conditions when striking bet...suggest you query the payout...

Deeno wrote: Does anyone what BetExhange limits are

no limits with bexchange


hollywood has 2 million rand limit

Solotrama wrote:

Deeno wrote: Does anyone what BetExhange limits are

no limits with bexchange


hollywood has 2 million rand limit

Thanks Solo

I think Hollywoods PA limit is still 500k

Do PA payouts often get as high as todays?

Bob Brogan wrote: Do PA payouts often get as high as todays?

Not often but yes especially in the Vaal Sand and PE..

i had a sizable bet on boxing with LM, when the bout was made a 10 rounder instead of a 12 round fight Lance refunded my bet on the White Buffalo in full,

Bob Brogan wrote: Do PA payouts often get as high as todays?

Plenty of occasions. Got paid out 50k on a PA on Hollywood and 30k on Betxchange.

Solotrama wrote:

Deeno wrote: Does anyone what BetExhange limits are

no limits with bexchange


hollywood has 2 million rand limit

Solo, I see Betxchange now gives you the host tote payout for the International venues like Hong Kong, Singapore, USA. This includes Trifecta, Quartets, etc. Hard to find value now