Quote:
Originally Posted by VigorsTheGrey
There is something very fishy in all of this....
First, you are say that these whales are approved by the track and tote companies, have direct access to totes, and wager electronically (basically cashless until some future time when things are settled)...That the whales are in the vast majority of pools regularly and are taking advantage of pool wagering "imbalances" to legally skim money with little or no risk, presumably through some sort of computerized, light speed operation TIED INTO the totes and tracks (who accommodate the whales by giving them rebates, even though the skim is working to drain money from them...what the tracks are doing is giving the whales a lower take-out rate through rebates to push money through the windows, so the track can get its take-out, and paying whales a service fee to do this...all on the backs of the regular bettors....if this is true...does anybody wonder anymore what is wrong with racing...? And then the whales must pay taxes on this because I'm hopeful that the IRS considers this a legit business...?
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I don't think Paul suggested this is done 'off the backs' of the regular players. Why would you think this has anything to do w regular players? If 100k is bet in a win pool at Track A and the published take is 15 pct, 85000 goes back to the players. If you bet that race, part of the 85 goes to you if you win. I'm not sure why 'regular players' would think something is 'coming off their back'. What are you suggesting?
