Bettors at Pebble Beach Pro-Am had an unexpected advantage due to the cancellation of the tournament’s final round. The abysmal weather conditions in California led to bettors placing parlays on the tournament, hoping for a cancellation that would guarantee their winnings. The parlays included bets on golfers placing in the top five, top 10, and top 20, with some long-shot bets like Wyndham Clark also being declared winners.
If the tournament had been canceled before the completion of round four, the bets placed before the end of round three would have stood. However, bets placed after round three concluded were voided as they were considered already decided outcomes. Despite the potential payouts of over 100/1, bettors were confident that the tournament’s cancellation would secure their winnings.
Now, sportsbooks are facing a significant liability as a result of this blunder. The cumulative loss for sportsbooks could potentially reach seven figures. Bettors carefully read the house rules before placing their bets, making sure they met the criteria for their wagers to stand. DraftKings Sportsbook, for example, stated that if 36 holes of the tournament had been completed and there was a decrease in the number of rounds or openings played, bets on this market would stand.
Some sportsbooks have already graded bets on certain golfers and parlays as winners. FanDuel, BetMGM, and Caesars have paid out winnings for bets placed on Clark or any parlays prior to the end of round three. However, DraftKings is currently reviewing the settlement of bets and their spokesperson confirmed that their house rules remained the same throughout the event.
DraftKings could potentially face a seven-figure liability due to the massive potential payouts from same-game parlays. Despite rumors suggesting that DraftKings had changed their house rules to avoid this situation, those claims have been debunked.
It is worth noting that DraftKings has a history of bartering with gaming commissions. In the past, the Massachusetts Gaming Commission helped them resolve poorly priced props in a Lakers-Nuggets game, voiding 138 same-game parlay wagers and over $700,000 in winnings. If a similar scenario arises with the Pebble Beach Pro-Am bets, the decision could go to the state gaming commissions, potentially benefiting bettors.
Overall, the cancellation of the final round at Pebble Beach Pro-Am presented an unexpected opportunity for bettors to take advantage of house rules and potentially win big. Sportsbooks are now facing a significant liability, and DraftKings is currently reviewing the settlement of bets placed during the tournament. Bettors who placed their bets before the end of round three on certain sportsbooks have already received their winnings. The outcome of this situation may ultimately depend on the decision of state gaming commissions.
