Sportbooks and horse racing, how do they work?

[cutchemist42]

Sites like 5dimes that offer horse racing, I'm guessing they are not connected to the mutuel pools and are simply matching the payouts right? Do they pay anything out to the tracks then?

[Dark Horse]

They're apart from the pools and don't pay the tracks anything. They give players a rebate for every bet, win or lose.

[cutchemist42]

They're apart from the pools and don't pay the tracks anything. They give players a rebate for every bet, win or lose.

So a sportsbook can allow bets on anything without race tracks and the sport leagues able to do nothing? Is there any guesses as to how much money is lost through sportbooks then?

[Dark Horse]

So a sportsbook can allow bets on anything without race tracks and the sport leagues able to do nothing? Is there any guesses as to how much money is lost through sportbooks then?

Do you think Vegas pays the sports leagues?

How much do the tracks miss out on? Hard to say. Think Asian syndicates. Plenty of cash. But would they still bet those amounts if their wagers affected the odds?

[cutchemist42]

Do you think Vegas pays the sports leagues?

How much do the tracks miss out on? Hard to say. Think Asian syndicates. Plenty of cash. But would they still bet those amounts if their wagers affected the odds?

Well I kinda wondered only because Betfair gives the tracks a slight cut.

[Dark Horse]

I don't know about books that operate in legal environments, such as English books in England or Australian books in Australia. Most offshore books these days operate from Costa Rica. And only a handful can be trusted.

[Stillriledup]

So a sportsbook can allow bets on anything without race tracks and the sport leagues able to do nothing? Is there any guesses as to how much money is lost through sportbooks then?

There are caps on payouts, the bets are not parimutuel and they can "cut you off" if you "win too much". Also, they can just decide to not pay you if they feel like it.