Quote:
Originally Posted by Track Phantom
Why would any kind of government program align itself to horse racing. I do not really understand the connection.
Who is on the hook to pay fix odds? Today, when a horse is 20-1 on the morning line and gets bet down to 2-1 and wins by a pole, the players basically pay for the heavy action in the form of a lower price (i.e. 2-1 instead of 20-1). With fixed odds, the tracks will be on the hook to pay out 20-1 odds on the winner. Guess how long anyone will book that when the connections manipulate the situation to get 20-1? I'd give it 4 hours.
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BetMakers apparently has the fixed odds wagering worked out in New Jersey. The fix odds are displayed on the television monitors. I think their model may be currently used in other countries.
The connection you may be missing is both discussions start simultaneously. Right now neither discussion is happening. The level of savings from my concept of reducing Medicaid payments in error gets attention and has received audience.
Fixed odds wagering and Medicaid are not related. However, nobody is going to give me audience over fixed odds wagering by itself. While I am doing my dog and pony Medicaid show, I ask what (legal) business concession can my company give your state to consider fixed odds wagering? We go from there.
Nice thing: I am putting up my money to start the process and we do the work. Nobody has to believe a thing, do a thing, or put up a dime until the money hits the state coffers from my Medicaid idea. Then the governor can proceed with fix odds wagering if happy and satisfied with the first idea.
The Medicaid monies stay put in the state treasury for other state use.
Nothing wrong about advancing two perfectly legal functions at once.
