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Originally Posted by Stillriledup
People could toss MILLIONS of dollars into the weekly drawing of Megamillions when the prize is "12" even though the odds are "175" and yet, those same people all of a sudden need to be 'educated' to make a horse racing wager. Oh no, i cant bet horses unless i read 10 books and become an 'expert'....yet, thse same people are pulling slots levers, betting on Roulette and purchasing scratch offs.....why cant some of this 'gambling' money find its way onto trifectas at the track?
Is there some prerequisite that every dollar wagered in horse racing has to be wagered by a seasoned handicapper?
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I sort of see what you're saying, and when racing was the only gambling game in town (for those who didn't want to bet sports through a bookie) they'd gladly take the worst of it for a thrill, but now with other options they don't need to.
I.e., When you bet roulette on a wheel with double zero, your expectation is to lose .0526 units per spin no matter who else is playing. That's not the case with racing since the sharper bettors increase the takeout for the luckboxes.
The typical rebuttals to this are, "The luckbox player doesn't know he's that much up against it" and "People play the lottery with a higher takeout."
I agree with the latter but not the former. Yeah, people play the lottery with sometimes as high as a 50% takeout, but again that takeout is uniform. No one else is costing them money. Racing (and poker) does not afford that luxury.
