The Joys of Conditional Wagering

[melman]

Yesterday I had a live "bomb" to play but knew I had to take my car in for a Pennsylvania State inspection. This would have me tied up at the dealership during the time the race would be going off. However with conditional wagering at Premier Turf Club I just set my min odds requirement and with 30 seconds to post the bet went in. Now I could have just bet in advance and accepted any odds that the horse would have gone off at. However by setting in advance a min odds requirement I ensured that I would be getting my "fair" price on the horse.

The result of that "bomb" you ask?? As Keith Jones the race caller at PHA would say "HELLO" $141.40. Nice to return home to that one. :jump:

[Cangamble]

Who was the horse, and what odds were acceptable to you for the horse?
No offense, but if I liked a bomb, I wouldn't have used conditional wagering for the bet. I would just bet the thing.

[shanta]

Mel,
Up here in Westchester county you are a living legend when it comes to the buggies man!

WOW tremendous hit :ThmbUp:

[melman]

Cangamble---No offense taken what I have found in the past is that sometimes my "bomb" will be seen by others and be bet down to a price IMO not worth the risk. This bomb was in R10 at Rockingham yesterday and the "last race of the day" "get-out" guys could have gotten on my horse. Thankfully they did not. :jump: I had pre-set the min odds at 15-1. The conditional wagering is a great item. I do a whole lot less "toteboard" watching now. :)

Richie--- Love your tag line. :) Westchester country home of the late, great old harness track Roosvelet Raceway. What a beautiful place that was. Hope things work out for ya Richie with the family. A few years back I also had a tough period with my mom. She had MS and it was not a good period of life.

[DeanT]

And I agree with Cd wagering even a bomb like this it is helpful. Them damn small pools.

I liked a horse at NFLD about a year ago. I was going to the track so I figured I would play Nfld and handicapped the card. This horse was 110-1 or so in his last few starts. But he was getting a change to I think lasix or something I liked, and had an inside post. Fair odds were certainly no less than 10-1 or even 20-1, he looked that bad.

Lo and behold he jogged and paid $12. He was an impossible play for me at that price.

[njcurveball]

Cangamble---No offense taken what I have found in the past is that sometimes my "bomb" will be seen by others and be bet down to a price IMO not worth the risk.


Enjoy PTC with this feature now. The value may wind up declining when many others allow the same type of betting. In your case, you were probably going to be safe anyway.

Congrats on your hit! Many horseplayers go their whole lives without nailing a $100 horse. :ThmbUp:

[BillW]

Enjoy PTC with this feature now. The value may wind up declining when many others allow the same type of betting. In your case, you were probably going to be safe anyway.


NJ,

The only way for the value of this feature to decline is if prices stop dropping so low in the last few minutes. It's a win-win, I'll take it! :jump: .

[Overlay]

It sounds like a great feature tailor-made for use with fair-odds lines, and you can't get much closer than thirty seconds to post for placing the wager. However, from some of the threads I've seen on late odds changes after the race has started, I wonder what degree of possibility would be left (even with that small margin) for drops in odds below acceptable or specified levels after the wager goes in (not that I can think of any better or safer way of doing it).

[njcurveball]

NJ,

The only way for the value of this feature to decline is if prices stop dropping so low in the last few minutes. It's a win-win, I'll take it! :jump: .


Bill,

The biggest gripe of horseplayers is the odds dropping after the gates open. The prices will not be dropping in the last few minutes if these bets are all set to go with 30 seconds remaining.

Now think about what you are doing here, it is very similar to place and show betting when so many "sharpies" are set up to put in money so late. Horses who are 6-1 and set to be bet at 5-1 by many players will drop to 4-1 maybe even 3-1 after post.

That will increase the prices on other horses and like place and show today, the underlays with one minute to go can wind up overlays.

Get on this feature now and enjoy it. In a few years you will see what I am talking about as more ADWs come on-line with this.

Jim

[JimG]

Melman,

You are amazing. Not as amazing as your avatar, but amazing nonetheless. ;)

Jim

[Kelso]

I wonder what degree of possibility would be left (even with that small margin) for drops in odds below acceptable or specified levels after the wager goes in (not that I can think of any better or safer way of doing it).


So long as the industry refuses to post FINAL odds BEFORE the gate opens ... the risk will remain high. Conditional wagering is a great idea ... it would be even more utile if the 30 seconds were prior to "NO MORE BETS."

[richrosa]

Richie--- Love your tag line. :) Westchester country home of the late, great old harness track Roosvelet Raceway. What a beautiful place that was. Hope things work out for ya Richie with the family. A few years back I also had a tough period with my mom. She had MS and it was not a good period of life.

Roosevelt Raceway is actually in Nassau county across the sound on Long Island. It been replaced by another shopping mall and some restaurants. Too crowded for my tastes. They did leave some of the traffic signs pointing to the raceway. I suppose if you're in a time warp, you could get lost.

[betovernetcapper]

I predict 6 months from now we're going to look back at the early days of conditional betting and laugh at how clunky our initial efforts were. The first week I had it, I set it up to bet equal amounts on anything that was over my odds-line. :bang: Am now setting it for varying amounts, based on probability and tote odds. duh! Have just started setting up exacta and quinella bets. I'm not doing anything fancy yet just tossing any of my combinations that is less than $25 at 30 seconds to post. early days :)