Quote:
Originally Posted by dilanesp
I don't have the time to type it out, but I have grave reservations about fixed odds betting on horse races in the US. Essentially, I think it could have the potential of making the sport a lot more corrupt than it is already.
I know it frustrates people when odds shift at post time. And I can think of things the sport could potentially do to address that issue. But allowing what is essentially extensive legal bookmaking on horse races would open a much bigger can of worms.
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Many moons ago I had an account at IASBET, which allowed fixed odds wagering for Australia and Hong Kong. At the time, I found it hard to find value in it, and rarely made a bet at fixed odds. The horses I thought were live, and whose odds I thought would drop by post time, almost always offered odds far under the current tote. The horses I thought were live and wanted to bet would sometimes offer at slight premium at post time, possibly as the book was trying to balance things out. After a few months, the novelty of fixed odds wagering sort of wore off, but that was with limited wagering.
It's interesting that in Australia they've had so much growth in fixed odds betting during the last four to five years. Perhaps their punters are as unhappy as Americans when it comes to late odds changes.
As for corruption, it's hard for me to imagine things getting worse here in North America, but I agree that if fixed odds were introduced, and with the current level of oversight, there'd be inclination on the part of unsavory parties to exploit it...
