horsemaven
01-15-2004, 02:00 PM
I've been wagering on the races at exchanges for about six months. I've had my ups and downs. The main problem is
liquidity. If noone wants your bet or lay even if you think, it's a fair price, you are out of luck.The rule of thumb, in terms of price, is as follows: demand 20 per cent premium on all horses going off at 10-1 or lower, take the board price or higher on all others.
Today, in the first race at Gulfstream, #6 Take Me There looked like a longshot possibility with underrated rider Rene Douglas aboard. The sharp works were what had me interested. I asked for 40-1 at ehorseX about 12 minutes to post. I checked back with four minutes to go and my bet was untouched. But I did notice that someone was offering 25-1. I lowered my bet to 35-1 and went to watch the race on my computer. All I knew is that I had the horse on two pick three tickets.
Take Me There stalked the pace, went by on the turn and opened up lenghts at mid-stretch. I had no idea when she crossed the wire whether I "had" her at the exchange. I re-opened the exchange window. Yes! Someone in the world disagreed with my opinion. A net $800+ profit was the end result.
Mike
liquidity. If noone wants your bet or lay even if you think, it's a fair price, you are out of luck.The rule of thumb, in terms of price, is as follows: demand 20 per cent premium on all horses going off at 10-1 or lower, take the board price or higher on all others.
Today, in the first race at Gulfstream, #6 Take Me There looked like a longshot possibility with underrated rider Rene Douglas aboard. The sharp works were what had me interested. I asked for 40-1 at ehorseX about 12 minutes to post. I checked back with four minutes to go and my bet was untouched. But I did notice that someone was offering 25-1. I lowered my bet to 35-1 and went to watch the race on my computer. All I knew is that I had the horse on two pick three tickets.
Take Me There stalked the pace, went by on the turn and opened up lenghts at mid-stretch. I had no idea when she crossed the wire whether I "had" her at the exchange. I re-opened the exchange window. Yes! Someone in the world disagreed with my opinion. A net $800+ profit was the end result.
Mike