FanDuel changes T&C after having to payout $2.2 million in parlay bets

[1dollarboxcar]

so the way i understand it is that there was a home run parlay bet circling around X (twitter) and a lot of people hit it ( i am not sure how many legs ) one person cashed in over $100k with many others cashing in large sums also, so FanDuel changed their terns and conditions and in the future they can refuse to pay you if they think you colluded with other bettors to come up with a "decent" multi leg parlay... or if you're one of these gurus that gives out a free parlay pick as your marketing scheme and it goes viral and it hits, or if a bunch of sharp bettors get together and put together a parlay, they can refuse to pay... kinda hard to prove i would think...
Druff should do emergency radio on this...

Embedded Tweet

https://twitter.com/incarceratedbob/status/1937561568570458362

[BCR]

Glad I looked. Was about to post about this in wagering thread. That rule is way too broad.

Them having the discretion to not pay what they consider widely circulated parlays seems like a bad business decision. Every night you see the same 12 leg parlays that pay $70k on $100. Eventually one was going to hit. Feels like a bad business move to make everyone afraid to bet some crazy parlay that has to be profitable to the book in the long run.

If I was someone who bet those crazy parlays, now I’m looking at Twitter and if I see someone post some 10 leg parlay I’m going to be worried they’ll make it ineligible the once a decade it hits.

[Kalam]

Glad I looked. Was about to post about this in wagering thread. That rule is way too broad.

Them having the discretion to not pay what they consider widely circulated parlays seems like a bad business decision. Every night you see the same 12 leg parlays that pay $70k on $100. Eventually one was going to hit. Feels like a bad business move to make everyone afraid to bet some crazy parlay that has to be profitable to the book in the long run.

If I was someone who bet those crazy parlays, now I’m looking at Twitter and if I see someone post some 10 leg parlay I’m going to be worried they’ll make it ineligible the once a decade it hits.

I think the concern is the popularly circulated parlays are actually +EV.

For example, I listen to Stokastic NBA sports betting podcasts, whose main business model is selling software that finds +EV bets/parlays.

Now I just listen to the podcasts for info and do all my own (losing) plays. But if the software from this company or any of the competitors is actually providing +EV bets (i have no clue) then I could see how FanDuel may decide this is a problem.

Of course it is shady to basically have a system where if you lose they keep the money but if you win they have the right to not payout. But not unprecedented for a sportsbook to do something like this. Just the nature of the business.