Quote:
Originally Posted by ronsmac
Maybe I'm wrong, but if you landed on the same horse as the "smart money" back in the day, It might still be an overlay. If you land on the same horse today, it's more than likely an underlay but becomes an overlay only if the rebate is large enough. The days of being patient and selective don't matter anymore because your perceived overlay is going to be bet down at the last second anyway.
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Idk if it was like that back in the day. My guess is that there were still smart people betting enough to make the pools as efficient as they could be *given the general data available*.
But, you're absolutely right that the rebates allow depressing a price past the point of true "breakeven" given the horse's actual chance of winning. This imo is the biggest problem with offering tiered rebates, where you're tiered based on volume. To solve this problem, get rid of rebates entirely and reduce track take.
