Maximum Security Disqualification Costs Gamblers $9 Million

While BetOnline Kentucky Derby customers lucked out with that company refunding bets placed on Maximum Security, that horse's disqualification costs gamblers elsewhere a cool $9 million.

BetOnline's Dave Mason confirmed Saturday evening that his company would be grading Maximum Security as "no action" after it was determined he had interfered with other horses, quite possibly placing multiple horses in danger.

After a nearly 20-minute review, Country House was declared the winner.  He was listed at 65-1 odds, the second biggest longshot in Kentucky Derby history.

Win, place and show bets on Maximum Security made up the $9 million in losses.  This amount does not include wagers placed with companies based outside the US.

Officially, across the nation, there was more than $6.2 million bet on Maximum Security to win and only $520,907 on Country House.  It was not immediately known how much money, if any, BetOnline would be paying out on Country House.

The largest win bet reported by TwinSpires on Maximum Security was $8,000, which would have paid a net $36,000. The largest win bet on Country House, per TwinSpires, was $2,500. It paid a net $162,500.

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Maximum Security also had $1,495,408 bet to place and $1,272,082 to show.

ESPN reported that, as of Friday at William Hill sportsbooks in Nevada, only 2 percent of the money bet on the odds to win the Kentucky Derby was on Country House.  A significant amount of Kentucky Derby bets are placed the six hours prior to post time, however.

- Mary Montgomery, Gambling911.com