Wow this hurts...

[sq764]

This is what I get for playing at Pinnacle...

Hit the $1 Pick 4 at Cal Expo tonight.. It paid $15,000 for a buck (on a $6 ticket).. I later realized they have a $5,000 profit limit on Cal..

Ouch


24 8:49pm
24-Jun-06 24-Jun-06 Horses
Pick 4 Cal Expo, Race #7
5.Blanco Patas/ 7.Orse M Jo... 6.00 15,158.00
(6 x 1.00) 5.Blanco Patas
with
7.Orse M Joint N, 9.Armbro Pluto
with
6.Lu Lus Dreamer
with
1.Hoosier Best, 2.Deacons Lair, 6.Wishcometrue

[RaceIsClosed]

This is what I get for playing at Pinnacle...

Hit the $1 Pick 4 at Cal Expo tonight.. It paid $15,000 for a buck (on a $6 ticket).. I later realized they have a $5,000 profit limit on Cal..

Ouch


24 8:49pm
24-Jun-06 24-Jun-06 Horses
Pick 4 Cal Expo, Race #7
5.Blanco Patas/ 7.Orse M Jo... 6.00 15,158.00
(6 x 1.00) 5.Blanco Patas
with
7.Orse M Joint N, 9.Armbro Pluto
with
6.Lu Lus Dreamer
with
1.Hoosier Best, 2.Deacons Lair, 6.Wishcometrue

This is why it's a MUST to keep a BRIS account along with your Pinnacle account. It pays to look at the odds of your horses to make sure you aren't threatening any limits too.

Now maybe your $1 would have knocked the price down a bit (or maybe they laid it off).

[Ron]

I never heard of a profit limit. Where did the other 10 grand go?

[sq764]

I never heard of a profit limit. Where did the other 10 grand go?
They 'adjusted' it...

They have a $5K net winnings on some tracks, $10K, $15K and $20K max for everything..

Now I know

[Steve 'StatMan']

I never heard of a profit limit. Where did the other 10 grand go?

I understand that Pinacle is a non-parimutel. So they're paying winners themselves, and keeping all of the losses. Except for any bets they're laying off. If they did lay it off, then they'd be keeping the 10 grand. But in this case, there is no 10 grand to give away.

The parimutuel bettors split the winnings to make the $15k payoff. But this bet was most likely separate.

Sorry you didn't get as much winnings for your great bet as you was possible, SQ.

:ThmbUp: - Not worth $10k, but it's still a :ThmbUp: ;)

[Buckeye]

basically, what it means is Pinnacle has balls but not an unlimited amount!

They are only willing assume a certain amount of risk (read that as NOT an unlimited amount)-- too bad for them. They don't have the guts to go against any and all possible scenarios. Use them when you can and shun them when they deserve it. Figure out the value of not paying taxes vs. the limits.

[toetoe]

Ess Kew,

Sorry to hear that.

[sq764]

Ess Kew,

Sorry to hear that.
I cannot complain, not a bad ROI on a $6 wager :-)

[JustRalph]

I cannot complain, not a bad ROI on a $6 wager :-)

nice Pick!

[RaceIsClosed]

I cannot complain, not a bad ROI on a $6 wager :-)

A simple check of the rules, the odds board, and a BRIS account would have been worth $10k to you.

Great hit, and a good lesson for the future.

Pinnacle has to set limits to cut their risk exposure, and theirs are pretty generous. I'm always mindful of the odds caps when I start stringing longshots together in the gimmicks.

Hell, I'm still mad when Olympic cut my $20 place price to $10 a few years ago on a horse, and haven't made the same mistake since. Olympic's horses are a good self-torture if you ever are in the mood to see what life would be like without Pinnacle.

[sq764]

A simple check of the rules, the odds board, and a BRIS account would have been worth $10k to you.

Great hit, and a good lesson for the future.

Pinnacle has to set limits to cut their risk exposure, and theirs are pretty generous. I'm always mindful of the odds caps when I start stringing longshots together in the gimmicks.

Hell, I'm still mad when Olympic cut my $20 place price to $10 a few years ago on a horse, and haven't made the same mistake since. Olympic's horses are a good self-torture if you ever are in the mood to see what life would be like without Pinnacle.
Actually if I bet it through Bris, I would have only won about $300 more, since it would have been bet into the pools AND taxes taken out.

[Ron]

Now why is that? Wouldn't you have won 15k and had to deal with the taxes at tax time?

[ryesteve]

Now why is that? Wouldn't you have won 15k and had to deal with the taxes at tax time?
He wouldn't have gotten $15k, because his bet would've lowered the payoff (one extra winner to share the pot)

[sq764]

Now why is that? Wouldn't you have won 15k and had to deal with the taxes at tax time?
I believe there was one winning ticket on the pick 4, which paid $15K for a buck. If I played into the pool, it would have paid $7500..

After taxes, I would have gotten around 5300