Sportsbook Refunds Those Who Bet On Scott

When I first saw this story, I thought it was a joke. But since it has appeared on the company’s website and in the New York Times and USA Today (among others), it seems to be true: Sportsbettingonline is refunding the bets of those who bet on Adam Scott to win at the 2012 Open Championship.

Here’s the press release from the site:

San Jose, Costa Rica – July 23, 2012 – For Australian pro golfer Adam Scott, losing the Open Championship after leading by four strokes with just four holes to play will forever sting. But for those who put their money on him at SportsBettingOnline.ag, the financial loss won’t be as painful. The online sportsbook today announced that management is refunding all players who lost money betting on Adam Scott.

“With so many of the favorites including Woods not cashing, it was a good day for sportsbooks. But that wasn’t the case for those who dropped money on Scott,” stated Dave Johnson, head oddsmaker for SportsBettingOnline.ag. “We feel it’s our duty to refund the players of SportsBettingOnline for taking such a bad beat. His collapse was historic and we know the bettors who had him must feel as awful as he does.”

Adam Scott virtually imploded on the green, bogeying the last four holes. He ultimately lost by one shot to Ernie Els. Golf Odds on Scott taking the Open were listed at 45/1 at SportsBettingOnline.ag. That means every $100 bet would have paid $4500 had the Australian taken the title.

This is the second time in just over two months that SportsBettingOnline.ag has refunded sports bettors after unexpected results or controversial outcomes. Last month, the online sportsbook refunded members who lost money on the Pacquaio-Bradley boxing match after the controversial results handed Bradley the win.

All losing bets on Adam Scott will be refunded today. Members of SportsBettingOnline.ag will see their bet refunded into their SportsBettingOnline.ag account reflected immediately.

It is of course a publicity stunt. The company figures (correctly) that it will get more value from the publicity than from the money put on Scott. But it still is shocking.