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16th March 05 NEW YORK – (PRESS RELEASE) -- Money was lost by both bettors and bookmakers Monday when Mario Vazquez, the American Idol contestant from New York, suddenly pulled himself out of the competition. Sportsbook.com had Vazquez as one of the favourites to win with 4-1 odds. Those that wagered on Vasquez to win the American Idol competition have now lost their wagers. There were, however, many bettors that took advantage of the announcement.
Mario Vazquez
Sportsbook.com was offering a proposition wager on whether Mario
Vazquez would win American Idol. Bettors could wager either
yes or no and as a result of the announcement, bettors began to heavily
wager on no moments before Sportsbook.com changed its odds. Odds makers
have now re-evaluated the contestants and released new odds.
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