Fixed Odds Wagering
 

According to a Bloodhorse article fixed odds wagering is coming now. It will land in time for the Saudi Cup. Bet365 in Colorado will be the platform.
You will be able to couple these bets with sports bets.
This comes at a great time. It is actually , if anything, late in coming.
The CAW money that came down hard in the Rachel Alexander at the Fairgrounds was especially galling !

What do you think Tarifa's "fixed odds" would have been?

about time
 

maybe owners in CRWs have a problem with this, but its very long in coming indeed and a key way to negate CRWs more generally

in the UK you can walk into any betting shop and do this, but not here

like we are so different from the UK

Is this only for Colorado residents?

9 states. Arizona, Colarodo, New Jersey, Indiana, Iowa, Kentucky. Ohio. Virginia. Louisiana can use bet365 so I assume they will all be eligible to use these fixed odds wagering offerings. The article is not very clear on exactly what is going to be offered.

Years ago, here in Vegas, a new sports book offered fixed odds on horses.
The sharpies broke them pretty damn quick.
I don't think it will work, but I think betting exchanges would.

Bloodhorse.com | Unedited Press Release | February 22, 2024
Saudi Cup a Worldwide Presence in Wagering Markets:
https://www.bloodhorse.com/horse-rac...gering-markets

I read that as available in Colorado.

If I'm wrong, it wouldn't be the first time today. :)


-jp
.

Any outfit confident enough in their fixed odds will hopefully consider offering some horse against horse options of the same.

You may very well be right. I have no idea. For the most part I think the article is very incomplete. 2 years in the making and they are finally doing something and this is the article they come up with? Doesn’t make sense to me that if this platform is available in 9 states that they would only make it available in one. Of course if they have to change laws in every state than obviously that is all they can do. But then again what have they been working on for the last 2 years?

It's not an article written by The Bloodhorse.

It's an unedited Press Release they decided to publish.

The last line at the bottom:

-jp
.

Sport of Kings, as I recall.

Had a long ago bookmaker tell me that 90% of all bookmakers who go out of business were taking bets on horses.

Aside from the potential for big scores via nefarious means, it's almost impossible to balance the books on many races and still allow late wagering.

The solution is a line that is usually worse than the takeout.

An interesting article about the Sport of Kings from the Washington Post in
1993.

https://www.washingtonpost.com/archi...-1bb435c6a839/

I am pretty sure that as this progresses most fixed odds wagering will be essentially sucker only betting. Anyone that shows any proficiency whatsoever will be severely limited in how much they can bet. Just think, all these juice jobs that look like 12-1 shots and win at 3-1 like they are 3/5 shots. How long will books take it in the chin giving 8-1 to 15-1 on these horses?

This will ultimately be a useless attempt at cross marketing sports bettors into horse racing. It only has appeal to long time horse players not to sports bettors who don't play or know the first thing about horse racing. Given what I said in the last paragraph, it will not be all that useful for long term horse players either.

The evidence for how accurate muti-race wagering mirrors final odds is pretty cut and dried at least at major tracks. I could post race after race 20 minutes to post to prove that to you because clearly a lot of people out here have not taken the time to verify that claim. So unless you think those pools are way off what you're saying makes no sense at all. People keep bringing up this old casino that let people bet into the morning line or some such nonsense, that would not be long for this world. If that's what they plan to do here their line will need to have a 60% vig. I was hoping for this years Derby there would be some horse against horse action offered on-shore. That would be cool for starters. :)

Right now most people are just betting into the pools. The caw catches these live horses because they are granted access to the pools and when juiced (live) runner gets pounded late they take that info and incorporate it into their betting. If the people who bet these live runners are able to bet at fixed odds of 10-1 they aren’t going to bet them nearly as much in the regular pools. So the pools that you find so predictive, will be less predictive. I know how bookmakers work, they want risk free money. When they get crushed and they will get crushed, all they are going to be able to do is damage control and guys like you who likely will beat them fairly consistently will be limited.

As far as big races and big racing days, yes that can work. But I don’t think most horse players want just that. They want 7/2 when they bet a horse at 7/2 when the gate is loading. I say this working and being successful is much easier said than done. We will eventually see how it works out. I grant them permission to prove me wrong.

We'll have to see how it goes. I'm not sure offering fixed odds in the win pool with some reasonable wager size limits imposed is going to keep stables with a live horse out of the horizontals. Maybe, but that's leaving an awful lot of money on the table, to the extent that it's probably a wash if not a net negative to their bottom line. Furthermore it's a gigantic 'look at me' if the action is so out of line with the other pools. Will the fixed odds action be made public as it comes in? It would be interesting to see.