Status of Election Bets

[Bette Midler]

Just curious...but for those who are holding action on the U.S. Presidential election, what is the current status of these wagers? Is everything on hold until ALL states certify their results? With the votes in Florida still being re-counted and the possiblity that other states may review their totals, how will this election be ratified for those with action on the event?

Are books going to wait until the electoral votes are earned by virtue of ballot results, or wait until the electoral college votes are actually cast in December?

What are the official Nevada rules governing Presidential Elections?


I for one am happy as hell to have stayed away from this prop. Threads have been running hear since August about the variances in lines on the election and how one could scalp the event, essentially getting dog prices on either candidate with relatively little shopping effort. But for those who bought into the lure of this future, how long will it now take to resolve the action?

[The Guesser]

One Book paid out on Bush on Wed Morning and called Gore Tickets Losers, but has since Re-Instated ALL bets as Pending, probably at great cost to them. As far as I know, all Books are waiting for a Winner to be OFFICIALLY declared after Florida is Certified. Some may be waiting for The Electoral College to formally vote in Dec, and some may wait for Jan 20 or whenever the New Prez is inaugurated. Just another twisted part of an AMAZING saga in our history.

[ppeter]

For scalpers, like yours truely, there is a possibility of a bigtime nightmare far beyond delayed payments. We stand the possiblity of losing BOTH bets as each book might have different standards of when they pay. For example, the book where the scalper has Gore +200 might take the money when the "official" Florida election states Bush wins by 300 votes or whatever, but the book where the scalper has Bush -150 might decide to hold all payouts until the official swearing in, by which time Gore backers might have won a revote in Palm Beach, making him the new winner. I THEREFORE CALL ON ALL MEMBERS OF THE OSGA TO ISSUE A BULLETIN ON THIS THREAD STATING WHAT THEIR PAYOUT POLICY WILL BE ON THIS PROP.

[Bette Midler]

What a mess!!

Next time, instead of having the Federal Elections commission oversee the process, it should fall on the shoulders of the Nevada Gaming Control Board.

[Bob]

This is starting to resemble a suspended baseball game or that Golf Tournament at Pebble Beach that was finished three months after it started.

The rules in those cases are for a push, but since no one anticipated this mess I guess we all just to have to sit tight.

I loaded up on Gore on Tuesday at +200, which is exactly what I figure his chances are now so I'd be just as happy to sit with my play or take a push at this point.

I do like Gore's chances in the hand count, however.

[tim]

This might take a while, but don't worry about different books declaring different winners. If the dems+gop can't agree, a court will declare the pres-elect and that man will take office and be the president. You just won't be able to use any of that cash until this is resolved.

[Ronbets]

B/Midler,

Big offshore joints are in a holding pattern. However, my Lazio play made stateside is currently aiding and funding illegal prostitution and breakage of usury laws. That's according to ancient law enforcement myths.

Nevada rules governing Presidential Elections you ask? Only one. It's illegal. The Mirage posted a Clinton price back in '92 for entertainment purposes only. Clinton -150 Bush Sr. +130. Hope this helps.

[chestrockwells]

The consensus I sense from the places I've talked to is that once Florida's recount is done then they'll call it. Potential court appeals etc. will not figure into who actually is the winner from a betting perspective. This would be similar to say an auto race where bets are essentially paid out on UNofficial winners. If the car is ruled illegal at some later point, they lose their win BUT the winner from a betting standpoint will remain unchanged. The Jan 20 scenario is impractical and probably incorrect unless the book specifically stated "sworn in". The V. Chandler props especially the "number of states won" may take a while to figure out. All the above info. is based on conversations I've had in the past day or so with individuals that either put up the lines or someone in the supervisory area of VC, Royal and Pinnacle.

[Rich]

I don't see how abook can get out of paying
off any bet on whoever actually takes office
as the 43rd president of the United States

no one will stand for that

Only if someone concedes should the book pay anyone or else they should wait until someone
takes office however they do it even if the
theif (BUSH) WINS

[ShiftySheik]

I think chestrockwells has it right on. As soon as Florida declares a winner, the books should payout. Protests do not count for wagering purposes. Rich, at most books the prop was "to be elected pres.", not who takes office.

[Ronbets]

Rich,

If you are going to slander someone, atleast spell the word right. You know third grade, i before e except after c.

[Rich]

OK THIEF

PS I hope that political whore Katherane
Harris fixes the election for the thief
BUSH because the net result of the outrage
of the american people will be an illigetimate president, an angry Democratic
majority and a political disaster for the Republican party that makes watergate look
like a tea party.

IF THE THIEF BUSH WANTS IT THAT BAD HE CAN
HAVE IT BUT IN THE END HE WILL BE POLITICALLY
DESTROYED.

[Rich]

On the bet subject I still don't think
a sportsbook won't pay ticket holders of the
guy that takes office if so the outrage might
be as bad as that of the voters of Palm Beach.

By the way are there any current odds out there on who will win this thing?

[Railbird]

Stop the name calling,you didnt see anybody come in here and call you a ***.

[chestrockwells]

I thought maybe, just maybe we could keep this particular thread to "facts only" and stick to the topic at hand. But I guess there's always one child out there.
The reason I had said previously that I believe the correct payout winner is the person "elected" and not the person "sworn in" is for 2 main reasons.
The most obvious is that someone could be elected and not necessarily be able to take office. I'm referring to death or other incapacitation since there's over 2 months between elected and sworn in. Sportsbooks didn't offer the bets to sit on the money for that period of time. Someone mentioned in another thread that they just sit on the money and collect interest. Although this is true, to an extent, they would much rather square the accounts and allow us to put that money back into play over and over again. That's how they make their money after all.