Wanna Bet?---Bloodhorse

[karlskorner]

http://opinions.bloodhorse.com/viewstory.asp?id=13679

Quote:
"There are "concerns" insiders already have scored betting coups using Betfair, laying high odds on horses the public saw as contenders, than cashing in when the runners finsihed far back or were pulled up due to injury. Those concerns have convinced Betfair"s operators to consider removing the cloak of anomyity to account holders in the event an investigation by racing regulators" End Quote

With the rise of all "off shore" betting establisments and the loss of revenue by the tracks, I see nothing but an "increase" in "take out" by all tracks.

[BillW]

This is the second article I've seen in the last few weeks containing inuendo re. off shore operations. I guess it's just journalist trying to protect their own turf (sorry ... pun unavoidable :)) at the risk of their own objectivity.

Bill

[PMANN1]

That's one of the first things that went through my mind when betfair was posted. If I was a trainer, jockey, owner, vet etc and knew something was wrong with a horse or was just working out in todays race it'd be great to lay odds and collect from everyone. Automatic money and perfectly legal. Instead of deciding which other horse in the race is ready all I have to do make sure I'm right about my own. Now if all the other trainers don't do the same thing in the same race, wouldn't that be stroy.
6f in 1:18.
Leads me to another question: Can owners and trainers bet on other horses entered in a race where they have a horse. Way backI didn't think they could but now I believe they can.
If you're a trainer and have a false favorite and even bettor if one of your other trainer friends has a horse that won't run today in the same race at low odds you couldn't help but make money if you're a decent handicapper.
I'd love to have the inside knowledge on low priced horses that aren't ready but I'm not willing to give up everything and work 7 days a week to do it. 5 days of work and handicapping is enough.

[GameTheory]

I believe it is illegal for the jockeys to bet (or at least against some rule, if not a law) but owners/trainers can bet on anything they want, no? Of course, many jockeys bet anyway, just not directly. You can bet jockey agents are betting...

[rrbauer]

PMANN1 wrote:
Leads me to another question: Can owners and trainers bet on other horses entered in a race where they have a horse. Way backI didn't think they could but now I believe they can.


Comment:
Owners can do whatever they want to do. In Calif trainers MAY NOT bet against their horse, even if they include their horse in a multiple combination bet using it along with other horses. About two years ago, trainer Doug Peterson had a 4-figure P3 that included his horse in one of the races, but other horses in that race too. When he went to cash the ticket, the mutuel dept (knowing he was a trainer) referred him to a CHRB investigator and he had to SURRENDER the ticket. I believe he got a refund...not sure about that. The proceeds? Big brother!

[Figman]

Here's two NY thoroughbred rules relating to jockeys betting and owning horses;
4040.1. Prohibitions-betting, interest in horses.

(a) No jockey shall bet on any race except through the owner of and on the horse which he rides, and any jockey who shall be proved to the satisfaction of the stewards to have any interest in any race or horse or to have been engaged in any betting transaction except as permitted by this section, or to have received presents from persons other than the owner, may be punished as provided by sections 4022.12 through 4022.15 of this Title.

(b) Any person knowingly acting in the capacity of part owner or trainer of any horse in which a jockey possesses an interest or making any bet with or in behalf of any jockey except as provided in subdivision (a) of this section, or otherwise aiding or abetting in any breach of this Article, may be punished as provided by sections 4022.12 through 4022.15 of this Title.

4040.2. Owning race horses forbidden.

No jockey, nor such jockey's spouse, parent, issue nor member of such jockey's household, shall be the owner of any race horse. All horses trained or ridden by a spouse, parent, issue or member of a jockey's household shall be coupled in the betting with any horse ridden by such jockey.