Maximum Security Cost to Bettors Now Reaches At Least $42 Million
The decision to disqualify the pre-race favorite (9-2 odds) swung tens of millions of dollars in bets in Kentucky, according to the Action Sports Network.
Churchill Downs stewards ruled to disqualify Maximum Security after it was determined he had interfered with other riders.
Ed DeRosa, Ed DeRosa is Director of Marketing for Bloodstock Research Information Services (BRIS), the approximate winnings for just the win/place/show bets on Maximum Security would’ve been $42 million at TwinSpires, the online wagering service for Churchill Downs. Twinspires announced last night they would refund up to $10 on win Maximum Security win bets only.
This number does not include all US-based horse betting sites, international online sites or offshore horse books that cater heavily to North Americans. It also does not take into account exotic wagers.
From The Action Network:
The total handle for all Maximum Security win/place/show bets was nearly $9 million at TwinSpires. One bettor thought he/she had turned $8,000 into $44,000 with Maximum Security’s win, before the ruling ruined all hope.
The stunning DQ, a first-ever for a winner in the 145-year history of the Derby, was heightened, given the horse’s profile. Maximum Security went off at 9-2 odds, making him the second favorite. Bettors placed more than $6.2 million in wagers on Maximum Security to win at TwinSpires, the second-highest amount behind only pre-race favorite Improbable (4-1 odds).
Though only a small number of individuals wagered on Country Home in comparison to Maximum Security, the payouts were substantial.
One lucky Country House bettor at TwinSpires won $133,000 on a $2,500 wager.
Meanwhile, BetOnline was taking some heat for grading all Maximum Security bets as "no action".
Dave Mason of BetOnline poked a little fun at one of his followers who said it wasn't necessary for his sportsbook to offer such a nice gesture.
"Of course we didnt have to do it. Just trying to give back to our loyal players. If you bet with us and want them graded as losers, feel free to DM me your username."
- Jagajeet Chiba, Gambling911.com
