Online Gambling Site Dispute Payment

[saroash]

Hi All

 

Have a question ( hope I am posting in the correct forum)

 

A friend of mine lost some money on an online gambling site (Jackpotjoy) and he wants to claim that back through the bank because he feels that the site misquoted the winning odds and he didn't win a single game. Is it possible to claim the money back through the bank since he essentially missold a product? or am I wrong here?

 

Any advice will be helpful.

[Old Cogger]

I bought lottery scratch cards and they state winning odd 1.4 = I did not win = can I claim NO1111111111111111111111111111111 I paid my money and took a chance.

 

sure others will comment also?

[BazzaS]

Hi All

 

Have a question ( hope I am posting in the correct forum)

 

A friend of mine lost some money on an online gambling site (Jackpotjoy) and he wants to claim that back through the bank because he feels that the site misquoted the winning odds and he didn't win a single game. Is it possible to claim the money back through the bank since he essentially missold a product? or am I wrong here?

 

Any advice will be helpful.

 

He feels the site misquoted the odds?

Or "He knows the site misquoted the odds"?

 

What were the odds, and how many games did he play?

Did he really win none at all of those games?

Were the games purely of chance?

Were any of skill? Or a mix of skill & chance?

 

You can probably see from the questions that I think he has no likelihood of succeeding unless he can show that he should at least have won some games and that the odds were misquoted, but this is difficult.

 

Even if a game has a 1 in 5 chance of winning, and you play 20 games, you'd expect to win 4, right?

Yet the probability of winning none is (4/5) ^ 20, or 0.0115, or 1.15%

Played 20, won none? He could claim "fix" or "odds not as stated", and the company would reply "not fixed, odds as stated, he must just have been in the 1.15 percent"!

 

 

The site operators know the odds are in their favour, that they can make their money without cheating ..... So although this doesn't preclude them cheating / misquoting odds, it does make it less likely!

[saroash]

Just doing a searach on the internet on Jackpotjoy and there are people calling it a [problem] company. the are advertising an average of 95% payout rate but alot of people are disputing it. Also it seems (and I may be wrong here) that the comapny is an offshore comapny so not licenced by UK gambling commission.

[citizenB]

saroash - threads merged and irrelevant post removed

[citizenB]

I agree with Bazza.

[BazzaS]

From just one of their advertising posts:

"95% payout rate"

"£47 million paid out last month",

So, say it was 47.5 million, then £50 million wagered with a 95% payout rate would be £47.5 million paid out.

 

That's £2.5 million profit (before tax and expenses) per month.

£30 million per year.

If we stick to the "47 million paid out" rather than making it 47.5 million for ease of calculation ; it is still £29.68 million per year pre-tax / expenses.

 

They don't need to cheat. They just need people gullible enough to play at the odds they have stated.