Do $1 Wagers Make Sense?

[Race Promoter]

With the start of the Mohawk meet on Thursday, Mohawk will be offering $1 WPS, Exactor, Triactor, and Daily Doubles. This is in addition to the $ .20 Pick 4's , Pick 3's and Supers. I am interested to hear whether horseplayers see this as a positive or a negative.

[Figaro]

Absolutely love this as I am still a beginner. Hopefully, this will allow me build a bigger bankroll for the summer and then I will be able to afford the more expensive $1 Pick 4 tickets later on this year.

Was absolutely thrilled about this and that is why I started a thread about it earlier today.

http://www.paceadvantage.com/forum/showthread.php?t=94184

[Figaro]

I'm really going to appreciate betting $1 across the board on longshots that will cost me $3. :ThmbUp:

[thaskalos]

The horse racing industry acknowledges that most of the well-heeled bettors have fled the game...so they are trying to make this game as affordable as possible to the small bettors who are left.

Most bettors like to bet about $10 a race...so, the 10-cent superfecta and the 50-cent trifecta were born.

Those betting units were understandable, because they involved wagers that promised a decent return when hit.

But the racetracks got progressively more desperate for business...so the unit price on low-paying wagers like the daily double and the exacta dropped as well.

And now, the unit price drops further still...even on the cheapest bet on the wagering menu, the WPS wager.

I won't be surprised if the 10-cent trifecta is featured next...:ThmbDown:

[Canarsie]

I won't be surprised if the 10-cent trifecta is featured next...:ThmbDown:

Don't hold your breath its been at Retama Park for years.

The track also offers 10-cent trifectas and superfectas.

http://www.bloodhorse.com/horse-racing/articles/49114/hanas-top-10-tracks---7-retama-park

[sovereign]

I think they have had the $1 WPS bets for a while now on the New York circuit.

[Robert Goren]

I think they have had the $1 WPS bets for a while now on the New York circuit.They have. It is nice to only bet a $1 to keep my PPs free from BRIS when I can't find a decent bet on the card. I am not betting turf races right now so that happens every few days at Belmont.

[horses4courses]

Apart from the pros/cons of lower increments with regard to the size of betting pools, there is another important consideration not touched on here, yet.

Ever since minimum increments below $2 were introduced, players have been able to avoid IRS declaration with winners over 300-1, as long as their payout stayed under $600.

Having $1 (and below) minimums for high odds exotics was a breath of fresh air for many players. It never hurts to keep Uncle Sam out of the equation when it comes to cashing winners!

Good luck!

[Race Promoter]

The casinos have had great success with penny slots and I can't help to wonder if more and more tracks go this way, that more people will give it a shot. Will an 18 year old who has $20 to goof around with come to enjoy those $1 WPS plays? Great comments and the IRS angle is huge.

[castaway01]

The casinos have had great success with penny slots and I can't help to wonder if more and more tracks go this way, that more people will give it a shot. Will an 18 year old who has $20 to goof around with come to enjoy those $1 WPS plays? Great comments and the IRS angle is huge.

No, because you still have all of the other learning barriers to horse racing while you can sit down at a slot machine and figure it out in five minutes or less (even the ones with 45 different combinations for your penny) and the "races" come much quicker. Also, the payoffs for a $1 win/place/show bet are so low to not make it worth a slot player to give up their machine to try to learn horse racing. The IRS factor, on the other hand, is a major positive to exotic wagers having lower minimums. I don't think it will draw a ton of new money, but it does make tax time more fair.

[Figaro]

Was going to reload and deposit some money into my HPI betting account for Saturday's Preakness. However, the minimum $1 WPS show bets starts tomorrow (May 17) at woodbine/Mohawk. Have just over $1 dollar in my account right now and would love if I could parlay my $1 into a triple digit balance before the weekend. :cool:

[Race Promoter]

Go for it Figaro! I can see the $1 rolling into $6 into a nice tri box into $600 into a six figure payoff in the Pick 6 at Pimlico on Saturday. Hey...people play the lottery with worse odds.

[Figaro]

Just got home and logged into my HPI to test out the new minimum $1 betting increments for WPS and everything on Woodbine/Mohawk's system has already been updated. :ThmbUp: I also tried the 20 cent Pick 3/Pick 4 and you can definitely 100% book a bet for a minimum of $0.20. It was just a simple test to see if the system would accept these new increments. Canceled the 3 mock bets I made and I'm ready for this summer at the races.

Really hope I don't get myself into too much trouble with these new minimum bets. Hope I don't make too many $1 across the board longshot bets starting tonight. :p

[Figaro]

Everyone should definitely take advantage of these cheaper bets. ;)

http://www.woodbineentertainment.com/Woodbine/Betting/PublishingImages/NewWageringStrategies-June-WebPage-700x891.jpg

[LottaKash]

I think that "ALL HANDLE" is Good Handle....

best

[CincyHorseplayer]

Apart from the pros/cons of lower increments with regard to the size of betting pools, there is another important consideration not touched on here, yet.

Ever since minimum increments below $2 were introduced, players have been able to avoid IRS declaration with winners over 300-1, as long as their payout stayed under $600.

Having $1 (and below) minimums for high odds exotics was a breath of fresh air for many players. It never hurts to keep Uncle Sam out of the equation when it comes to cashing winners!

Good luck!

I always keep this in mind when projected payoffs are over $100 and you want multiple tickets.I got burnt once and that was enough!

[Ray2000]

I just bet Mohawk R12 20¢ super 3/169/169/169 at TwinSpires to see what would happen.

Cost me $1.20 .....I felt a little silly :blush: :blush:


.

[CHeCK EyE]

I was at Freehold a year or so ago and I found a dime on the floor. I said to my dad I am going up to the window and betting a single ten cent super ticket. I walked up to the teller and I read out a single ten cent super bet and stopped. The lady looked at me for a second and then smiled almost shaking her head in confusion. I explained I found the dime on the floor and it was heads up so I figured why not try my luck. She continued with a smile handed me my ticket and wished me luck. I don't think I was even close, but it's a good story!

[CHeCK EyE]

Along the lines of betting $1.20, I have a weird habit of when I am ready to leave the track and I have, for example, $31.80, I will find a track that has ten cent supers and is close to post time and bet exactly $1.80 to make the voucher and even $30.

About a month ago I had a ticket with $127.80 so, as I always do, went to make a ten cent super bet that would amount to $2.80. Well I had to leave off 3 horses for 4th place in order to do so. Don't you know that one of those horses came in fourth and I missed a ten center at Balmoral that paid $40! BTW this isn't the only time it's happened, just the most recent!!!! :lol:

[Mr_Ed]

I think that "ALL HANDLE" is Good Handle....

best

Yes. I find the Mohawk card very engaging with all the minimum opportunities.