A NEW BET PROPOSAL, BY JOHN G. VEITCH

[andymays]

http://www.horseracingbusiness.com/a-new-bet-proposal-by-john-g-veitch-7868.htm

Excerpt:

The racing industry needs to offer more alternative betting options (as well as less time between races) to spur fan interest. A play that, to my knowledge, has never been used, is an adaptation of the over/under (O/U) from sports betting, and centers around the time of the race.

This bet would allow a participant to place a wager based on the estimated or “par” time of the race as set by the track. It could be structured in two ways. First, a straightforward O/U based on the fractional times and final time of the race. Second, a more sophisticated O/U based on the fractional times and final time of the race, wherein the bettor wagers on the exact time to a tenth of a second, with corresponding odds.

[andymays]

Although it's creative I don't think anyone will try it and if they do I don't think it will catch on. But you never know.

[thaskalos]

I don't like it.

On the one hand...this sounds like the sort of sophisticated wager that only the "advanced" player would gravitate to.

But it has serious drawbacks...which make it impossible for it to be taken seriously by anyone but the sheer novice.

The horseplayer would be asked to make fine-line race-timing decisions, without the benefit of knowing what the condition of the track is.

IMO...the only races that would attract sizable pools would be the last couple of races on the program.

And NONE of the grass races would get a dime's worth of action.

If the players want to play "roulette"...they already know where to go.

[Spiderman]

The concept of over/under recalls the head-2-head type bet. As presented, the h2h bet win possibilities were decimated by the takeout. Horse A was 3-5 to finish better than Horse B who was even odds to do same. No incentive to bet.

Racing could use more exotic wagers where there would be higher rewards. And, to promote the opportunity to the general public.

[captainhot]

Not enough options?
Let's see: WPS, Double (Rolling in most venues), P-3, P-4, P-5, P-6, quinellas, exactas, trifectas, twin trifectas (although I know of no horse track still offering this), superfectas, super high 5's, and the Place-9. I can proudly (or stupidly say---I bet them all). Did I leave anything out?

[toetoe]

Not enough options?
Let's see: WPS, Double (Rolling in most venues), P-3, P-4, P-5, P-6, quinellas, exactas, trifectas, twin trifectas (although I know of no horse track still offering this), superfectas, super high 5's, and the Place-9. I can proudly (or stupidly say---I bet them all). Did I leave anything out?



The Grand Slam, for whose inventor I feel ... :blush: .

[johnhannibalsmith]

"Ladies and gentlemen, in accordance with rule 19-003.43, the entire $319 pool has been refunded due to a teletimer malfunction."

[Dave Schwartz]

Track management seems to try to come up with all the ideas that they possibly can to avoid doing the one thing necessary to keep the customer playing: make the takeout more competitive with other gambling options.

Frankly, IMHO, everything else is BS.


Regards,
Dave Schwartz

[Horseplayersbet.com]

Parimutuel wagering on a prediction of the final time is much simpler. Forget the over under. Just use one fifth of a second on each side of the par time including the par time. Guaranteed 11 different win options if you use 5 (one fifth intervals on either side including the par time. The end times of course include all times that are (lower or higher, depending whether you think the race will go slower or higher).
Could be interesting. But it is hard enough to get players interested in the countless wagers available right now. And of course there is the "trust the clock" issue.

[rwwupl]

Track management seems to try to come up with all the ideas that they possibly can to avoid doing the one thing necessary to keep the customer playing: make the takeout more competitive with other gambling options.

Frankly, IMHO, everything else is BS.


Regards,
Dave Schwartz


Agree.

Whatever happened to skill of handicapping to determine the winners over time?

Serious core players and the wagering public are treated like a joke, you do not need expensive thoroughbreds to impliment a bet like this.

How about Arabians, or Barrel Racing, or play the Lottery?

Roger Way

[stu]

"Ladies and gentlemen, in accordance with rule 19-003.43, the entire $319 pool has been refunded due to a teletimer malfunction."

As someone who has timed races in the past, I can tell you that I have had each of the following at least once accidentally cross the start/finish teletimer beams thus requiring using a stopwatch-aided hand time for the charts:

track owner
starter
assistant starter
photographer
bird
store plastic bag
racing commissioner
investigator
outrider
escort pony
loose horse

[Robert Fischer]

...agree with Dave and Roger :ThmbUp:


Take care of the core players and the core wagers!

[toussaud]

the goal is to get more money in less pools, not less money in more pools. more money wagered, tigers more people to gamble.

[johnhannibalsmith]

:D As someone who has timed races in the past, I can tell you that I have had each of the following at least once accidentally cross the start/finish teletimer beams thus requiring using a stopwatch-aided hand time for the charts:

track owner
starter
assistant starter
photographer
bird
store plastic bag
racing commissioner
investigator
outrider
escort pony
loose horse

Laf... yes, I can relate as someone that became very proficient at using the left hand to operate the stop watch, the right hand to carry the photo finish plunger, and the dexterity to reach over and "STOP DISPLAY" to the video when the opening quarter posted as 37.2...

I guess those days where hand-timing was more common than tele-timing is what led to my jaded post about such a wager... :D

[Dave Schwartz]

Stu,

That is a funny list.

A plastic bag? Really?

LOL

Thanks.

Dave