Kentucky Bred
02-11-2003, 11:27 PM
For those of you who are unaware of the revolution that is going on throughout Europe in thoroughbred horse wagering, (as I was) I urge you to take a moment and surf this site. (I don't know whether the hyperlink will work but you can cut and paste, if not):
www.betfair.com
Betfair is one of a half a dozen sites that have sprung up around England all backed by BIG money corporations. Instead of paramutual wagering, these sites offer an "Ebay like" opportunity to wager on horses in a way we could only now dream. You can take an onsite tour to see how it works.
Essentially you can bet to either "back" or "lay" your bets. You can be the bookmaker, but only on the races you want to back. People offer to accept bets on certain horses for certain prices and others offer to make bets on certain horses. The house is just there to act as a middle man and insure payment. Wow!
Instead of the "vig" being from 14% (Aqueduct) to 18%+ at ripoff tracks like Tampa Bay Downs and others, you pay a maximum of 5% "juice" and that is only from your NET winnings! That commission drops all the way down to 2% based upon you backing or laying more wagers.
Folks, understand the significance of such a huge drop in wagering fees. Those of you who are a marginal player. Either a breakeven or slight loser. Instantly, your game is transformed into a powerful winner! A big winner, in fact. A 10% profit margin is very big when combined with proper money management and compounding plays. And that does not even consider finding other players to accept odds favorable to you.
Imagine this...how many of you are great at finding false favorites? I know for sure that I can find favorites every single day that have very little chance of winning the race. I focus on these plays every day. Well, instead of trying to find the winner from the other 10 horses in the race, I would love the chance to bet AGAINST the favorite. I'll take every other horse in the race. Computer programmers, do you think you could write a program that would do that well? I thought so. And best of all, you will find the most "backers" on the favorites!
This would truly revolutionalize horse wagering in this country if (when?) these sites catch on in this country. Maybe some offshore companies are offering wagers from the US right now, I don't know. This opportunity would change the way we now think because we could take betting positions with a horse or against one. It doubles the winning wagering propositions in a race. (I don't know how exotics work)
When will it come to the US? It is growing in popularity over there. I feel it is only a matter of time.
Question: How hard will the racing powers in the US fight this? I mean, they can't compete with such a superior product. The tracks now have made up for the lack of racetrack attendance with simulcast money. What happens when that money dwindles?
I just want to get an account over there for no other reason than to see how it works.
But I do have one question...are horses shipping from Leicaster to Newmarket race course really dropping in class?
Kentucky Bred
www.betfair.com
Betfair is one of a half a dozen sites that have sprung up around England all backed by BIG money corporations. Instead of paramutual wagering, these sites offer an "Ebay like" opportunity to wager on horses in a way we could only now dream. You can take an onsite tour to see how it works.
Essentially you can bet to either "back" or "lay" your bets. You can be the bookmaker, but only on the races you want to back. People offer to accept bets on certain horses for certain prices and others offer to make bets on certain horses. The house is just there to act as a middle man and insure payment. Wow!
Instead of the "vig" being from 14% (Aqueduct) to 18%+ at ripoff tracks like Tampa Bay Downs and others, you pay a maximum of 5% "juice" and that is only from your NET winnings! That commission drops all the way down to 2% based upon you backing or laying more wagers.
Folks, understand the significance of such a huge drop in wagering fees. Those of you who are a marginal player. Either a breakeven or slight loser. Instantly, your game is transformed into a powerful winner! A big winner, in fact. A 10% profit margin is very big when combined with proper money management and compounding plays. And that does not even consider finding other players to accept odds favorable to you.
Imagine this...how many of you are great at finding false favorites? I know for sure that I can find favorites every single day that have very little chance of winning the race. I focus on these plays every day. Well, instead of trying to find the winner from the other 10 horses in the race, I would love the chance to bet AGAINST the favorite. I'll take every other horse in the race. Computer programmers, do you think you could write a program that would do that well? I thought so. And best of all, you will find the most "backers" on the favorites!
This would truly revolutionalize horse wagering in this country if (when?) these sites catch on in this country. Maybe some offshore companies are offering wagers from the US right now, I don't know. This opportunity would change the way we now think because we could take betting positions with a horse or against one. It doubles the winning wagering propositions in a race. (I don't know how exotics work)
When will it come to the US? It is growing in popularity over there. I feel it is only a matter of time.
Question: How hard will the racing powers in the US fight this? I mean, they can't compete with such a superior product. The tracks now have made up for the lack of racetrack attendance with simulcast money. What happens when that money dwindles?
I just want to get an account over there for no other reason than to see how it works.
But I do have one question...are horses shipping from Leicaster to Newmarket race course really dropping in class?
Kentucky Bred