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Online Sportsbook Pays Out $500K on Formula One Winner

Written by:
C Costigan
Published on:
Nov/04/2009

Costa Rica's oldest online sportsbook, BetCRIS.com, has paid out just over $500,000 in Formula One bets while other books are reportedly disputing the outcome. 

The payments were made following a win by huge underdogs Brawn GP.

Brawn GP was formed on 6 March 2009 when it was confirmed that Ross Brawn, the former technical director for the Honda Racing F1 Team, Ferrari and Benetton, had bought the team from Honda.

The controversy over payments comes as a result of the Brawn GP team using a new car that provided them with a huge edge.  Many of the online bookmakers, including BetCRIS.com, were caught off guard.

"The initial payout odds were set at +10000 where a $1 bet would pay out $1000," a BetCRIS.com spokesperson told Gambling911.com. 

BetCRIS.com confirmed to Gambling911 that a number of small, and some medium sized, bets were placed on the Brawn GP team.

Some online sportsbooks are refusing to pay, claiming gamblers had "insider knowledge" of the new car model.

On 18 October 2009, at the Brazilian Grand Prix, Jensen Button clinched the 2009 Drivers' Title on his debut season for Brawn GP.

Christopher Costigan, Gambling911.com Publisher 

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