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Originally Posted by Luckycreed
No sorry you are wrong.If I make up a book on a two horse race at 105% my edge is 2.5% on each runner if that is the way I choose to frame it.Of course I may have an opinion, or have trouble taking money on one of the runners and end up with a 4% edge on one and 1% on the other or indeed get stuck with 6% edge on one and a 1% loss on the other if my betting forecast is out or I am prepared to gamble on my opinion but the 5% take is only split across the two runners
In a five horse field my edge is 1% per runner if it was still 2.5% per runner my book would be set at 112.5%.Under which circumstance am I more likely to get burned in the hurly burly of trying to balance my book, where I have an average 2,5% margin for error or a !% margin for error.
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I don't disagree with your analysis as far as bookmaking goes but US racing is parimutuel. The house win is ALWAYS the takeout plus breakage. And the house win is always taken from the winners share.
