A bet can be broken down into two elements; the Stake - how much you risk, and the Payout - your potential return including your Stake. The most common type of bet is a single, but bettors can combine different bets into one and place a multiple bet - this can be a double, treble or any other multiple (four or more bets in one). This bet pays out at 17 to 1. Street bet – This bet covers three numbers. You place your bet on the line outside of the three numbers in the row where you want to win. This bet pays out at 11 to 1. Corner bet – Some people call this a square bet or a quarter bet. It’s a bet on a corner that makes a square, and it’s a bet on four numbers. PUNTER WINS £2k ON LOSING BET. Home PUNTER WINS £2k ON LOSING BET. Mr Fixit, 26th July 2014. 26th July 2014., Football Tips, 36. MY Daily Record column in Saturday's paper features a story about Scots firm McBookie losing a fight with IBAS and being forced to pay out more than £2000 on a losing bet. I side with punters in most battles with the bookies but reckon IBAS have got it wrong with this one. Paid $1.35 for every $1 we bet. So let’s apply that to a few bet numbers If we were to bet $50 on the New Orleans Saints, we would get paid $50 times $1.35, or $67.50 for a winning bet. If we were to bet $250 on the New Orleans Saints, we would get paid $250 times $1.35, or $337.50 for a winning bet. Let’s take a look now at what a moneyline bet would pay out if we are a favorite.

If you have been on DietBet a while you may have noticed the way that the website calculates 'winnings' may be a bit different from how you calculate winnings. I know it's different from how I do! And here is why.

If you lost a bet that subsequently would have become a winner due to a disqualification it could also be worth contacting the bookie. They may not pay you out the full winnings, but you may get your stake back as a free bet perhaps, whilst in the case of controversial decisions or results changes bookies have been known to pay out on more than one result to keep their customers happy.

Paid Out On Losing Bet Belmont Stakes

When DietBet calculates winnings it includes your bet amounts. So if you had a $20 bet, and the payout was $30, they count that as winning $30. To me, that's winning $10 because really the other $20 was just returned to me. For practical purposes, the amount of your 'winnings' also, if you reinvest your bets into more bets, doesn't equal the amount of 'points' you have in your account to cash out.

What Happens If You Lose A Bet

So lets look at me for example. If you take a look over on the side, it will tell you I have won over $1160 on DietBet. Sounds pretty amazing, right? But I do I really, after all is said an done, have over $1000 from bets? NO! Not even close. Lets see how the real math works out. My first ever DietBet, back in October 2014, was a $25 bed. That was paid cash out of my back account. I continued to reinvest only from my points until August, when I put nearly ALL of the money I had into a transformer ($125, to pay up front for $25 monthly bets) but decided to join some more kickstarters, too. So I put about another $53 in from my bank account to cover those bets. So that means a total of $78 (give or take some change) of cash went into my DietBet account.

My FINAL amount in my DietBet account after my kickstarters and transformers paid out, with no more active games, was $514 and change. A lot different than the over $1000 DietBet tells you I won, right? And then, of course, I subtract the $78 investment I initially made. I turned $78 into $514 in less than a year and a half (NOT BAD AT ALL!) for a total gain of $436.

Paid Out On Losing Between

So by MY calculations, I have won (or one might argue, EARNED) $436 on DietBet. That's no small amount of money right there.

Now, this is NOT to knock DietBet! If you were to, say, win the lottery, it would be typical to just state the prize amount, not calculate for how much money you invested in buying the ticket(s). Different people may calculate their winnings differently, do they just count the prize? Do they count the prize minus how much they paid for that ticket? Do they count the prize minus how much they have spent on lottery tickets over a period of time (or their who lifetime)?

So, again, not to knock DietBet at all. Just to give some realistic expectations of what kind of winnings you can really expect. When you see a persons winnings listed, just know that is not the amount of money they have gained. That includes all of their bets, which likely includes reinvesting the same money into bets over and over (like I have) that ends up making that money be counted multiple times in the 'winnings.'

There are lots of examples of results changing after the initial outcome is given and this can come about in a range of ways. If you are worried about whether your bet will still be classed as a winner, think your bet should be paid out but hasn’t been, or are even concerned the bookmaker may demand money back from you after they have paid out, we’ll explain what exactly happens in a range of examples where the initial result changes.

The most common example of a result being altered comes in horse racing, where the first past the post horse is announced as the winner before subsequently being demoted or disqualified due to a steward’s enquiry. At the other end of the spectrum you have doping scandals, such as the Lance Armstrong saga, where an athlete is stripped of their title weeks, months, years or even decades after they were deemed to have won and the bets were paid out.

Bet365 Paid Out Losing Bet

What If I Have Already Been Paid?

Paid Out On Losing Bets

First, the good news: if your bet has been paid out as a winner, unless this is an obvious error, the bookmaker will never ask you for your winnings back. Bookies almost always pay out bets according to the official result, as announced at the finish of the event. Subsequent changes due to disqualifications, disciplinary hearings or other such actions are disregarded.

That means, for example, that if you bet on an F1 driver to achieve a podium finish and they finish fourth, but the winner is later disqualified, you won’t be paid out. Equally, had you backed the winning driver, even though they may ultimately have been disqualified and awarded no points officially, your bet remains a winner and the cash added to your account shortly after the race won’t be removed.

In certain sports there may be grey areas, for example if an official result is not immediately given but is subject to some further review or appeal. However, the same rules ultimately apply: bets are almost always settled according to the official result, as and when that is given. Any future changes are disregarded from a betting perspective and the original result stands.

Horse Racing and the First Past the Post Rule

The only major exception in sport comes from horse racing, although in actual fact this is not really an exception. Bookmakers will all pay out on the official result given at the time of the weigh-in. Note this is not the same as the result which may be announced at the track, on TV or at the bookmaker’s immediately after the race finishes. This is the official and final result after any possible enquiries and the weigh-in. In this sense racing is just like every other sport.

The only slight difference with racing is that many of the best betting sites around will also pay out according to the first past the post result. This means that if your horse wins but is not declared the winner in the official result, perhaps due to a penalty for interference or similar, you’ll still get paid out as a winner. This is a generous offer from the bookies given they will also pay out to anyone who was a winner based on the official result. This offer also applies to each way betting, with bookies paying out on places according to both the initial finishing order and the official result.

Paid Out On Losing Bet Money

If in Doubt Contact Your Bookie

There are certain exceptions to all of these rules and ultimately if in doubt our key advice is to contact the bookmaker you placed your bet with. If you lost a bet that subsequently would have become a winner due to a disqualification it could also be worth contacting the bookie. They may not pay you out the full winnings, but you may get your stake back as a free bet perhaps, whilst in the case of controversial decisions or results changes bookies have been known to pay out on more than one result to keep their customers happy.