LM Bookmaker stealing from the poor.

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7 months 2 weeks ago - 7 months 2 weeks ago #780987 by chanel
LM Bookmaker stealing from the poor. was created by chanel
On the 2nd of February 2020 Sun Met Day.
I decided to place a small Pick 6 bet with LM Bookmaker, with what i thought was my Lucky day. I caught 0.02% with R 20, of the R 4,024,269.10 dividend it payed out.
After I saw I had a winning ticket, before checking my account, I worked it out, I should be cashing out about R 80 k !
Only after seeing my account it showed that I only won R 2 175.90
I called to ask if there was something wrong with my balance and they explained they have a R 100 000 max dividend of the Pick 6, I then check their T'c & C's and it SAID they have a R 100 000 max payout limit on the Pick 6 and not a max dividend, (what they say is very different to what it is on their site) while my +- 80 k, is still under the max limit payout, I emailed again and they told me as soon as the Pick 6 pool goes over R 100 000 the % you win comes from their R 100 000 limit.

I feel this is very wrong since there is only one Pick 6 pool with one payout dividend.

What do you guys think ??

(On such a big race day, of course you want to go for gold. I understand that there are limits but surely when it comes to payouts, you as a bookmaker, should have the credentials to payout a pick 6 under R100 000 without hesitation and not change the terms and conditions as it suits you?)

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Last edit: 7 months 2 weeks ago by chanel.

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7 months 2 weeks ago #780999 by Bob Brogan
Unfortunately if that their limits it`s not stealing....

They are probably set that low because they don`t want to take that bet type

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7 months 2 weeks ago #781000 by Thor
Sorry Chanel. I checked their rules. Clearly states max payout of 100 000 to 1 bet unit. And further qualifies that this will be the dividend used should the actual tote dividend be higher, in the event of paying out fractional bets.

Unfortunately you've learnt the hard way what many have already learnt, but that many more will still learn. DON'T PLAY THE OPEN BET. You would've had the full R80k playing on the tote.

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7 months 2 weeks ago #781001 by BATMAN
Unbelievable to catch the pick 6 for R20, I spent a fortune and went out. They are right with their payout, but I must say the 100 000 limit is a joke. Instead of 80000 you get 2000, I would be ill. They must be the last bookmaker to have a ridiculous payout dividend limit. I used to hear punters brag about LM bookmakers but now starting to question their judgement.

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7 months 2 weeks ago #781020 by Muhtiman
......get what you get with the open bet....:whistle:

My idea of "help from above" is a sniper on the roof
and a higher power is a hell fire missile armed drone.

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7 months 2 weeks ago #781022 by TSants18
Hope you learnt your lesson and hopefully many others see this. Don’t play the open bet.

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7 months 2 weeks ago #781028 by XYZ
Wow what a pity.....!

For some reason I almost get the felling that this is not the 1st time it happened..........

I also had some very bad experiences with LM Bookmaker and to be frank the abovementioned does not surprise me at all.....

At LM Bookmaker the punter is not treated as a customer but as a 2nd rated citizen. With no intention to treat the customer fairly..........

I will never support them again. I suggest that other punters do the same and vote with their feet.

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7 months 2 weeks ago #781037 by Over the Air
Over the Air on topic LM Bookmaker stealing from the poor.
The solution is to bet with bookies that have much larger limits. 100k is an absolute joke

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7 months 2 weeks ago #781044 by MissT
Unfortunately the rule is the rule and by not having a tote bet you have lost out. Most bookmakers have limits on pick 6 bets they probably just differ in amounts. R100 000 does however sound low.
As for the other comments about LM i have to disagree . All the time I spent in Lances place was always a good experience and never experienced any poor service. Lance himself in fact would interact on a daily basis with most of the people in his facility. Just my opinion of course others may have had a different experience.

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7 months 2 weeks ago - 7 months 2 weeks ago #781053 by Tigershark
The language used is far from being clear and much is assumed, where is the clarity between pay out & dividend? To rely on the small print and rules written to appear ambiguous is not what i would call upfront. Others may go so far as to say that this is done purposely......

Funny really, even with the Tote's take out percentage, you would have received 40 times more.

Anyway, keep playing with the bookies....
Last edit: 7 months 2 weeks ago by Tigershark.

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7 months 2 weeks ago #781067 by oscar
Just a quick question, the tote bet on" Interbet", is that a real tote bet or is it an open bet?

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7 months 2 weeks ago #781068 by Bob Brogan
Real tote

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7 months 2 weeks ago #781075 by L J
I am not surprised by the poor service received by LM bookmaker as they were very quick to close my account once I had a small winning streak a few years ago. It was because of playing the open bet actually which I find most profitable. I standby placing all my best as open bets except for the Pick6 for obvious reasons of the limits. The pool is too high when there are carryovers to take a chance with limits. For this reason, register with interbet should you not have a tabgold or tabonline account.

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7 months 2 weeks ago #781084 by oscar
Thanks Bob. For those who want to play exotics on a bookmaker (except Interbet) my advise is CHANGE, otherwise stop complaining.
The following user(s) said Thank You: louisg

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7 months 2 weeks ago #781174 by ElvisisKing
Chanel, i feel for u buddy......what should have been 80 k turns into a paltry 2 k....shame :angry:

I have learnt with the P6 to play tabgold or tab .......especially when there are carryovers.

That 100 k limit for P6 us bloody pathetic !

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