Breakage

[bigbrown]

I would appreciate any link or explanation to describe how breakage is computed in place and show betting

Thank you very much,

BB

[lamboguy]

there is no chart, just an example: if a horse is supposed to pay $3.59 for any pool, the payoff will be on ten cent breakage $3.40. on five cent breakage it will pay $3.50

[bigbrown]

there is no chart, just an example: if a horse is supposed to pay $3.59 for any pool, the payoff will be on ten cent breakage $3.40. on five cent breakage it will pay $3.50

Is 3.59 above payoff to 1 or payoff to 2?

[lamboguy]

that would be for $2.00.

that is a worse case deal, if it was supposed to be $3.41 it would pay $3.40.

this is a hidden takeout.

[Buchan]

In Australia where the units are in $1 increments, it is rounded down to nearest 10 cent, so that 2.99 becomes 2.9, but worse when they co-mingle with Singapore para mutuel, for Singapore races, they have to use same breakage as them, so it's rounded down in 20 cent increments.
So 2.99 becomes 2.8.
And it irks me that is for every unit invested, why not just round down the total return to nearest 10 or 20 cents.

And on top of that Singapore commission rate is I think 20% for win bets, so it's a double whammy, whereas it's 14.5% for win bets on Australian races.

[davew]

percentage wise, you can see how much it takes out of profit on 'should have paid $2.39' but with breakage you get $2.20



higher the payout, on the average the less the percentagewise effect

[Robert Goren]

percentage wise, you can see how much it takes out of profit on 'should have paid $2.39' but with breakage you get $2.20



higher the payout, on the average the less the percentagewise effectNYRA has found away around that.

http://www.nyra.com/Belmont/Handicapping/NYRAWagering/NYRAWagering.shtml
It break as follows
$2.10-$9.99........ $0.10
$10-$49.99......... $0.20
$50-$499.99....... $0.50
$500 +............... $1.00

[takeout]

Damn, that's evil. :mad:

[Buchan]

Damn, that's evil. :mad:

Yes, sounds criminal to me, I thought we had it bad in Australia, but compared to you guys we have it sweet by the looks of it.

[Rutgers]

NYRA has found away around that.

http://www.nyra.com/Belmont/Handicapping/NYRAWagering/NYRAWagering.shtml
It break as follows
$2.10-$9.99........ $0.10
$10-$49.99......... $0.20
$50-$499.99....... $0.50
$500 +............... $1.00

I know facts and reason have no place on internet message boards, but the NYRA breakage is set by law in NY, not by NYRA. (Racing, Pari-Mutuel Wagering and Breeding Law, Article 2, Section 238)

Most tracks have dime breakage for payouts $2.10 - $9.99 (and until the mid 90’s so did NYRA) so at NYRA tracks the percentage of the payout going to breakage is less than other tracks. For payouts of $10-$49.99, the percentage going to breakage is the same as most tracks. And even though the breakage amount goes up for payouts of $50-$499.99 and at $500 plus, the effect is still less percentage-wise as the payout goes up.

The trade-off of lower breakage on lower payouts for higher breakage on higher payouts is advantageous long-term for most players (And for the record, since I play mostly Pick 4’s and Pick 6’s, I am not one of them, but that does not mean it is not a good rule)

Breakage is a important revenue source for horse racing, it is not going to go away anytime soon, and I doubt any tracks or jurisdictions are going to reduce breakage across the board. The best thing for horseplayers in regards to breakage is for more tracks and jurisdictions to adopt similar breakage levels.

[PaceAdvantage]

I know facts and reason have no place on internet message boards,Always love it when folks feel the need to write this disclaimer. :rolleyes:

It's a shame you and folks like you never feel compelled to point out when actual facts and reason are presented on this board...I can assure you it happens in many different threads each and every day.