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27 June
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When Winning $35k Feels Like “Huge Loss”

June 27, 2019

Winning $35,000 has never been so disappointing that you would call it a “huge loss.” 

However, one man from Reno, Nevada has a completely opposite view.

The Las Vegas Review-Journal reports that Steve Friedlander, an ophthalmologist by profession who finds recreation in sports betting, hit $609,000 on a Kentucky Derby horse race. However, later the win turned out to be a mere crumb of the sum — $35,000.

“That’s more than I’ve ever won on any sports bet,” the 53-year-old said. “But the way it went down, it feels like a huge loss,” he added. 

Friedlander placed two bets at Tamarack Junction Casino in Reno. The first wager was a $40 trifecta box worth $960 on horses 8, 13, 16, and 20. To win, Friedlander needed any of the horses to finish in the top three. The expected payout was almost $459,000. 

The second bet was a $100 exacta box worth $1,200 on the same horses, and on this occasion, he needed any of the horses to come in first and second. The expected payout was $150,000. 

And he succeeded. Country House (20), Code of Honor (13), and Tacitus (8) were among the top three. The ophthalmologist managed to foresee the winners of the race, but he overlooked one significant detail.

Tamarack Junction Casino offers a non-pari-mutuel wagering area provided by William Hill, which caps all wins at certain odds. In the case of Friedlander’s bets, the trifecta payout odds were limited to 500/1 and exacta payout odds to 150/1.  

Ironically, Friedlander said that he could have stopped on the north side of town at Grand Sierra and place his bets at William Hill pari-mutuel.  

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