How bad was Arkansas’ loss to Louisiana-Monroe this past weekend? So bad that gambling sites are actually refunding money to the unfortunate folks who were misguided enough to wager on the Razorbacks.
"When a football team rallies from a 21-point deficit to win by three points in overtime, online sports bettors have good reason to be angry," said Dave Johnson, head oddsmaker for SportsBettingOnline.ag (via Yahoo! Sports).
"But when that team is a 30-point favorite and ranked eighth in the country, sports bettors have good reason to feel sick to their stomachs. And we don't blame them. The loss was unbelievable, and to profit from it really doesn't sit well with us. That's why we're refunding every single player who dropped money on Arkansas to win. It's the right thing to do and we'd be shocked if other online sports books don't follow our lead."
This isn’t the first time something like this has happened. You’ll recall, after Adam Scott choked away the 2012 British Open, SportsBettingOnline came out and announced that they would be refunding money to all bettors because, in their words “we feel it's our duty to refund the players for taking such a bad bet. His collapse was historic and we know the bettors who had him must feel as awful as he does.”
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Chances are, this is a proven marketing trick that we just haven’t caught on to yet. Refund a really bad bet, get your name in the papers, raise your profile, and increase your business in the long-run. It’s doubtful that these gambling sites suddenly grew a conscious.
That said, regardless of their motivation, this was still a cool thing for SportsBettingOnline.ag to do, so props to them.
(Kudos Yahoo! Sports)