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Racetracks that allow rebaters to infest their pools are insane. All they are doing is enabling the rebaters to get rick quick while the racetrack over the long run goes bust as it slowly loses all the non rebate customers who are paying the full takeout
The more people win the more they bet. The more they lose the less they bet until they reach the point where they quit the game altogether. If you let rebaters infest your pools then the non rebate players basically only have poor value bets to choose from at -20% or worse. They are guaranteed to only ever be small players in the pools and to eventually quit forever. Meanwhile the rebate players are able to corner the market on all the value bets in the pool and make a mint
If the rebate player and non rebate player back the same horse, the rebates work to make that bet positive expectation for the rebate player but negative expectation for the non rebate player. So the rebate player and non rebate player can make exactly the same bets but the rebater makes a fortune while the non rebate player goes broke in the long run. The ultimate in unfair play
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