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For anyone with a solid opinion on a race, fixed odds has to be a better option than the paramutuel version of betting that we are currently stuck with. Watching our horse tumble in price during the running of the race as we helplessly look on in disbelief is something that I doubt any knowledgeable horseplayer would ever miss if fixed-odds wagering were somehow implemented as the mainstay in the game.
Can you imagine the public outcry if paramutuel wagering was the operational betting system in sports betting? You bet the Patriots at -7...and an avalanche of late money just before the start of the game changes your bet to a -10 proposition? There would be blood in the streets.
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"Theory is knowledge that doesn't work. Practice is when everything works and you don't know why."
-- Hermann Hesse
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