Is there a limit on how much you can bet on win place and show?

[kyle2227]

I was just wondering if any one knew if there was a limit because im sure on the big race yesterday if there was no limit some people probably bet $10000+ easy to place on street sense or hard spun to collect there 5%? Do tracks have there own limits? Was just wondering thanks guys.

[Tom]

Never heard of any limit, other than calling off a betting pool altogether.

[DJofSD]

Good question.

For any legal, true, parimutual wagering situation, no limit. Otherwise, you need to ask the individual bookie. But then, there are other possible considerations such as obtaining and carrying larger amounts of cash. And I'm sure walking up to a teller asking for a $10,000 voucher might raise some questions.

Ever see "The Sting"?

[kyle2227]

never saw the sting but ill check it out thanks for the information

[K9Pup]

I've heard stories in dog racing where a "sure thing" dog has had $10,000 wagered on it to show and suddenly gets scratched before the race is run.

[Imriledup]

I was just wondering if any one knew if there was a limit because im sure on the big race yesterday if there was no limit some people probably bet $10000+ easy to place on street sense or hard spun to collect there 5%? Do tracks have there own limits? Was just wondering thanks guys.

There's no limit. If a track feels that they want to 'cap' the limit on show, they'll just cancel show betting altogether. But, if the track accepts show betting, theyll take any bet.

Of course, if Bill gates wanted to bet a billion to show on some absolute lock, i can't imagine anyone would accept the bet. So, i guess there IS a limit, but i think they'll take a few hundred thousand with no problem.

[rrpic6]

There's no limit. If a track feels that they want to 'cap' the limit on show, they'll just cancel show betting altogether. But, if the track accepts show betting, theyll take any bet.

Of course, if Bill gates wanted to bet a billion to show on some absolute lock, i can't imagine anyone would accept the bet. So, i guess there IS a limit, but i think they'll take a few hundred thousand with no problem.

If there a billion to show on a horse, I'd say the odds are 1/9 that the jockey falls off. That kind of bet could bankrupt most small tracks in a month.

RR

[DJofSD]

That kind of bet could bankrupt most small tracks in a month.

But isn't that 5% minimum in essentially paid by the state and not the track itself? Exactly how does the accounting for the money work? I know about negative pools but I never thought it through in the context of venues with a small handle getting hammered.

[ryesteve]

If there a billion to show on a horse, I'd say the odds are 1/9 that the jockey falls off.
The jockey wouldn't need to fall off. The other show bettors, realizing they stood to make MILLIONS on this race if that horse ran out, would swarm the track and throw their bodies in front of him.

[K9Pup]

But isn't that 5% minimum in essentially paid by the state and not the track itself? Exactly how does the accounting for the money work? I know about negative pools but I never thought it through in the context of venues with a small handle getting hammered.

I don't think so. My guess is it comes out of the track's take and if that doesn't cover it then it comes from the track's bank account.

[betovernetcapper]

In the case of a minus pool, the track has to pay it. It costs them, so in the event of a billion dollar show bet, the most likely scenario, indeed the only possible scenario is that the horse breaks on top by 5 lengths, then extends his lead to 20 while setting a new track record.
As soon as his number goes up it begins blinking as the stewards noticed some violation discernable to no one else on the planet or in this space-time dimension (or any other) and the horse is DQ'd and placed 4th. This phenomenon has also been known to occur when this player has keyed a horse to win, but I don't want to take this off thread. :)

[DJofSD]

So the track is actually responsible for covering the short fall when there is a negative pool.

The minimum pay out is guarenteed by law. There has to be some legal means for the track to protect itself such as refusing the bet, or as already been stated, cancelling the wager altogether.

[startngate]

Not exactly ... the track is only responsible if the bet was placed "on track" ... if the bet is placed elsewhere, the location where it was placed eats the minus pool (or whatever percentage of the entire minus pool the wager generates).

This is why you rarely see show wagering cancelled by the host track anymore, especially at smaller tracks where they know their customers and don't fear a local "bridge jumper." They still want the host fee, which doesn't factor out minus pools. Double whammy to the guest site ... eat the minus pool and pay for the privilege ... :D

This is also why you see many rebate shops don't pay rebates on $2.10 show payoffs.

Many tracks do have limits, especially on simulcast events. I have also seen a guest site not take a pool that is actually offered by the host for this reason.

[BIG49010]

At MTR they DQ horse and place 4th! :lol:

[Zman179]

Now, here's a question for you.

Can an off-track facility, that could be on the hook for excessive losses due to a large minus pool, refuse to accept a bet such as a large show wager?

[ponyplayerdotca]

"At MTR they DQ horse and place 4th!"...

===

Conspiracies notwithstanding, the Mountaineer stewards decision to DQ NICOLE'S DREAM that night due to jockey error were spot on.

She should have been taken down and was. Joke all you want, but it was the RIGHT call.

It's amazing how all objectivity is lost when it's your money that is lost due to such a decision.

[startngate]

Zman - yes, a guest site can refuse to take a race or pool offered by the host track. Doesn't happen often but it can.

[kyle2227]

But what about an online wagering site like Americatab? Because I know when I go to place a bet I can put $2500 on a horse but one could only assume I could place that same wager multiple times to bypass the $2500 on a single ticket limit. Ive also heard of people putting $20,000 to show on a horse.

[Capper Al]

I find that the ticket machines jam up after $20,000.

[cj's dad]

Ive also heard of people putting $20,000 to show on a horse.

Blushing K D - Black Eyed Susan Stakes @ Pimlico Circa 1995 - $500,000 to show - ran 4th - show payoffs approx $80 - $90 - $95

[lurker]

I have seen minus pool wagers refused in Vegas.

[chickenhead]

I've been getting more curious why the offshores close some tracks some days. Penn was closed the other day, BEU closed today.