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Main
Date: 11 Dec 2006 12:20:10
From: will_gamble
Subject: OT: Saints Rock
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Who da thunk it? Preseason prediction by a local sport writer was 5
wins tops.
The Saints ran their preseason camp in Jackson, Ms and a local but
fairly large appliance chain ran a promotion that if you bought a TV
before Sept 1st and the Saints won the Super Bowl, your TV was free.
An article in the paper said they were now scrambling for some
insurance to cover their potential 1 million dollar loss should the
Saints go all the way.
I doubt they will make it, but they sure looked good last night.
Cheers
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Date: 11 Dec 2006 19:24:24
From: Omaha8_Beach
Subject: Re: OT: Saints Rock
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FellKnight wrote:
> On Dec 11 2006 1:20 PM, will_gamble wrote:
>
> > Who da thunk it? Preseason prediction by a local sport writer was 5
> > wins tops.
> >
> > The Saints ran their preseason camp in Jackson, Ms and a local but
> > fairly large appliance chain ran a promotion that if you bought a TV
> > before Sept 1st and the Saints won the Super Bowl, your TV was free.
> > An article in the paper said they were now scrambling for some
> > insurance to cover their potential 1 million dollar loss should the
> > Saints go all the way.
>
> lol. Idiots not to have gotten insurance prior to such a promotion.
>
How does insurance work for things like this? Is it the same as hedging
your bets and taking the latest odds for N.O. to win the Super Bowl? I
don't know what they were at the beginning of the season but I'm sure
they've changed a lot since then.
Ken
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Date: 11 Dec 2006 20:09:49
From: FellKnight
Subject: Re: OT: Saints Rock
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On Dec 11 2006 8:24 PM, Omaha8_Beach wrote:
> FellKnight wrote:
> > On Dec 11 2006 1:20 PM, will_gamble wrote:
> >
> > > Who da thunk it? Preseason prediction by a local sport writer was 5
> > > wins tops.
> > >
> > > The Saints ran their preseason camp in Jackson, Ms and a local but
> > > fairly large appliance chain ran a promotion that if you bought a TV
> > > before Sept 1st and the Saints won the Super Bowl, your TV was free.
> > > An article in the paper said they were now scrambling for some
> > > insurance to cover their potential 1 million dollar loss should the
> > > Saints go all the way.
> >
> > lol. Idiots not to have gotten insurance prior to such a promotion.
> >
> How does insurance work for things like this? Is it the same as hedging
> your bets and taking the latest odds for N.O. to win the Super Bowl? I
> don't know what they were at the beginning of the season but I'm sure
> they've changed a lot since then.
>
> Ken
You go to an insurance company. You tell them what promotion you want to
run. You figure out your losses if you "lose" the promotion. Insurance
company figures out the likelihood of you losing the promotion, charges
some vig.
At the start of the season, the Saints would probably have been around
100-1 underdogs, so the insurance company would have charged at a 50-1
rate or so (so 500k of insurance should have cost 10k)
Fell
--
Website: www.fellknight.com
Email: fellknight at gmail dot com
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Date: 11 Dec 2006 19:02:51
From: FellKnight
Subject: Re: OT: Saints Rock
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On Dec 11 2006 1:20 PM, will_gamble wrote:
> Who da thunk it? Preseason prediction by a local sport writer was 5
> wins tops.
>
> The Saints ran their preseason camp in Jackson, Ms and a local but
> fairly large appliance chain ran a promotion that if you bought a TV
> before Sept 1st and the Saints won the Super Bowl, your TV was free.
> An article in the paper said they were now scrambling for some
> insurance to cover their potential 1 million dollar loss should the
> Saints go all the way.
lol. Idiots not to have gotten insurance prior to such a promotion.
> I doubt they will make it, but they sure looked good last night.
>
> Cheers
Fell
--
Website: www.fellknight.com
Email: fellknight at gmail dot com
_____________________________________________________________________
RecGroups : the community-oriented newsreader : www.recgroups.com
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Date: 11 Dec 2006 16:05:14
From: phlash74
Subject: Re: OT: Saints Rock
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johnny T wrote:
> Omaha8_Beach wrote:
>
> >
> > To give another example, this guy offered customers up to $10,000 worth
> > of free furniture if they bought it before the Green Bay-Chicago NFL
> > game, and if the Packers were shutout in the game. The Bears won 26-0.
> > He was smart enough to get some insurance before the game though.
>
> Gee I thought sports wagering was illegal...
That's not wagering, because if the shutout doesn't happen, or if USC
had won in my example, the customers still have the furniture they paid
for. All that's being offered is a conditional refund. Not very
different from offering free merchandise to ticket holders in games
where the home team scores 35 points or whatever. If the store owner
said "Give me $1000, and if the Bears shut out Green Bay, I'll give you
your money back PLUS $10,000 worth of furniture" that would be an
illegal wager.
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Date: 11 Dec 2006 16:30:34
From: johnny T
Subject: Re: OT: Saints Rock
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phlash74 wrote:
> johnny T wrote:
>> Omaha8_Beach wrote:
>>
>>> To give another example, this guy offered customers up to $10,000 worth
>>> of free furniture if they bought it before the Green Bay-Chicago NFL
>>> game, and if the Packers were shutout in the game. The Bears won 26-0.
>>> He was smart enough to get some insurance before the game though.
>> Gee I thought sports wagering was illegal...
>
>
> That's not wagering, because if the shutout doesn't happen, or if USC
> had won in my example, the customers still have the furniture they paid
> for. All that's being offered is a conditional refund. Not very
> different from offering free merchandise to ticket holders in games
> where the home team scores 35 points or whatever. If the store owner
> said "Give me $1000, and if the Bears shut out Green Bay, I'll give you
> your money back PLUS $10,000 worth of furniture" that would be an
> illegal wager.
>
So it is not a wager, if I cannot choose what I do with the winnings?
Is it not a wager if I say I give all to my wife, my housekeeper and my
dog? In advance?
I don't know it sounds like a wager to me.
If he was insuring for 300k, did he make a profit off those sales? Is
that money in his pocket? If no profit, did he get to write off what he
"lost" as a business expense? Did he lose anything? What is the value
of national press?
Sounds like a wager to me.
I wonder what the expected value of the furniture was? I wonder what
the line was? I think this is an excellent way around gambling laws.
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Date: 11 Dec 2006 15:12:25
From: Omaha8_Beach
Subject: Re: OT: Saints Rock
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phlash74 wrote:
> will_gamble wrote:
> > Who da thunk it? Preseason prediction by a local sport writer was 5
> > wins tops.
> >
> > The Saints ran their preseason camp in Jackson, Ms and a local but
> > fairly large appliance chain ran a promotion that if you bought a TV
> > before Sept 1st and the Saints won the Super Bowl, your TV was free.
> > An article in the paper said they were now scrambling for some
> > insurance to cover their potential 1 million dollar loss should the
> > Saints go all the way.
> >
> > I doubt they will make it, but they sure looked good last night.
> >
> > Cheers
To give another example, this guy offered customers up to $10,000 worth
of free furniture if they bought it before the Green Bay-Chicago NFL
game, and if the Packers were shutout in the game. The Bears won 26-0.
He was smart enough to get some insurance before the game though.
http://www.msnbc.msn.com/id/14801823/
Ken
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Date: 11 Dec 2006 15:36:48
From: johnny T
Subject: Re: OT: Saints Rock
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Omaha8_Beach wrote:
>
> To give another example, this guy offered customers up to $10,000 worth
> of free furniture if they bought it before the Green Bay-Chicago NFL
> game, and if the Packers were shutout in the game. The Bears won 26-0.
> He was smart enough to get some insurance before the game though.
Gee I thought sports wagering was illegal...
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Date: 11 Dec 2006 12:26:16
From: phlash74
Subject: Re: OT: Saints Rock
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will_gamble wrote:
> Who da thunk it? Preseason prediction by a local sport writer was 5
> wins tops.
>
> The Saints ran their preseason camp in Jackson, Ms and a local but
> fairly large appliance chain ran a promotion that if you bought a TV
> before Sept 1st and the Saints won the Super Bowl, your TV was free.
> An article in the paper said they were now scrambling for some
> insurance to cover their potential 1 million dollar loss should the
> Saints go all the way.
>
> I doubt they will make it, but they sure looked good last night.
>
> Cheers
Just to hijack your OT, there was a furniture store out here in LA that
promised if you bought at least $2000 worth of furniture (no max)
between Wednesday Nov. 29th and kickoff of the UCLA/USC game on
Saturday Dec. 2nd, the furniture would be free if UCLA won the game.
Apparently the owner was a UCLA fan and was sick of one of his
employees' constant chatter about USC.
UCLA 13, USC 9.
The guy was on the radio the other day and said he didn't have
insurance to cover the loss, which he estimated at $500K. He claimed
he would do it again.
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Date: 11 Dec 2006 20:32:46
From: beerboy
Subject: Re: OT: Saints Rock
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In news:1165868776.080596.108140@73g2000cwn.googlegroups.com,
phlash74 <phlash74@msn.com > typed:
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Date: 12 Dec 2006 01:14:14
From: Douglas Dunn
Subject: Re: OT: Saints Rock
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will_gamble wrote:
> Who da thunk it? Preseason prediction by a local sport writer was 5
> wins tops.
>
> The Saints ran their preseason camp in Jackson, Ms and a local but
> fairly large appliance chain ran a promotion that if you bought a TV
> before Sept 1st and the Saints won the Super Bowl, your TV was free.
> An article in the paper said they were now scrambling for some
> insurance to cover their potential 1 million dollar loss should the
> Saints go all the way.
>
> I doubt they will make it, but they sure looked good last night.
>
> Cheers
Their money is still very safe.
Doug
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