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09-11-2018, 09:50 PM
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#31
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Registered User
Join Date: May 2008
Posts: 686
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Quote:
Originally Posted by biggestal99
They don’t ban sharpies at uk tracks, just limit their wins to £1,000
Allan
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Same chilling effect.
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09-11-2018, 09:51 PM
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#32
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Registered User
Join Date: May 2008
Posts: 686
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Quote:
Originally Posted by biggestal99
Lol. I least I am thinking of how to improve the Monmouth product.
Fixed odds betting has revitalized Australian racing.
Allan
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70% of Australian handle is a single betting team how is that revitalized, diverse or attractive?
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09-11-2018, 11:15 PM
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#33
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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Quote:
Originally Posted by BCOURTNEY
70% of Australian handle is a single betting team how is that revitalized, diverse or attractive?
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Please show some kind of proof/links to back up your claim of 70%......
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09-12-2018, 12:53 AM
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#34
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Registered User
Join Date: Aug 2016
Posts: 487
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Quote:
Originally Posted by biggestal99
PM is a dinosaur. its only a matter of time before it becomes extinct.
Allan
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Your awareness is upside down.
PM need only be optimized by the house to compete favorably vs. all other types of wagering.
They simply don't play to their strengths, instead preferring to expose their weaknesses. So it's no wonder American horse racing is beaten-down today.
It's that simple and concise.
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09-12-2018, 12:58 AM
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#35
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,921
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Quote:
Originally Posted by AskinHaskin
Your awareness is upside down.
PM need only be optimized by the house to compete favorably vs. all other types of wagering.
They simply don't play to their strengths, instead preferring to expose their weaknesses. So it's no wonder American horse racing is beaten-down today.
It's that simple and concise.
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Please explain but dumb it down. I have the mind of a 6th grader.
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09-12-2018, 08:16 AM
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#36
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Registered User
Join Date: Feb 2014
Posts: 4,520
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Quote:
Originally Posted by AskinHaskin
Your awareness is upside down.
PM need only be optimized by the house to compete favorably vs. all other types of wagering.
They simply don't play to their strengths, instead preferring to expose their weaknesses. So it's no wonder American horse racing is beaten-down today.
It's that simple and concise.
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But they (tracks) wont pull the trigger on lowering takeout for the masses.
Instead they insanely raise takeout to usury.
whale handle would dry up if they went down to a reasonable takeout due to loss of rebates.
Allan
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09-12-2018, 12:34 PM
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#37
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Registered User
Join Date: Apr 2008
Location: Louisville
Posts: 278
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Actually from a whales point of view, lowering takeout is the same as offering a higher rebate. It would not effect them.
They simply need takeout (or effective takeout with rebate) to be low enough to make a marginal profit over time.
Lowering takeout would not effect whales, but would benefit most everyone else and could potentially (with very dramatic changes) put parimutuel in competition with fixed odds.
WPS parimutuel wagering will likely never truly compete with fixed odds however the exotic bets with higher payouts are something fixed odds cannot (at this time) replicate easily.
__________________
Jason Martin
IT Director
AmWest Entertainment - AmWager
Last edited by Gorrex; 09-12-2018 at 12:38 PM.
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09-12-2018, 12:41 PM
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#38
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Registered User
Join Date: Jul 2013
Location: Seattle
Posts: 3,943
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True, they'd get back more on their winning wagers with a lower take, but with a rebate, it's very simple to know what their minimum, guaranteed return on each wager is. I'd think the higher the minimum guaranteed return, the better.
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09-12-2018, 12:55 PM
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#39
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Registered User
Join Date: Apr 2008
Location: Louisville
Posts: 278
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The rebate does make the math easier, but generally whales know exactly what their win rates are vs takeouts vs pool sizes etc...
A 2% reduction in takeout could be a greater average return than a 5% rebate depending on hit rate, pool size, etc..
__________________
Jason Martin
IT Director
AmWest Entertainment - AmWager
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09-12-2018, 01:36 PM
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#40
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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Quote:
Originally Posted by Gorrex
The rebate does make the math easier, but generally whales know exactly what their win rates are vs takeouts vs pool sizes etc...
A 2% reduction in takeout could be a greater average return than a 5% rebate depending on hit rate, pool size, etc..
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So if the average bettor AND whales both benefit from a 2% reduction in takeout, let's make everyone real happy and go for a 4% cut.....Sounds good, right?
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09-12-2018, 02:00 PM
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#41
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Registered User
Join Date: Apr 2008
Location: Louisville
Posts: 278
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To a degree yes,
As with any business there is a proper price point. High enough to profit but low enough to attract new business.
There have been a ton of studies showing that point in racing based on current data. It's not really a mystery anymore, its just difficult to convince the powers that be.
__________________
Jason Martin
IT Director
AmWest Entertainment - AmWager
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09-12-2018, 02:11 PM
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#42
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Registered User
Join Date: Jan 2006
Posts: 28,570
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Quote:
Originally Posted by Gorrex
The rebate does make the math easier, but generally whales know exactly what their win rates are vs takeouts vs pool sizes etc...
A 2% reduction in takeout could be a greater average return than a 5% rebate depending on hit rate, pool size, etc..
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Why are the rebates such an "under-the-table" enterprise...to the extent where very few details about them ever get released to the general betting public? Why can't the general public readily obtain a list containing the rebate rewards for the different wagering-amount requirements?
__________________
"Theory is knowledge that doesn't work. Practice is when everything works and you don't know why."
-- Hermann Hesse
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09-12-2018, 03:26 PM
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#43
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Veteran
Join Date: Jan 2010
Posts: 729
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Quote:
Originally Posted by jasperson
Why do the Whales bet win,place and knock down the odds? Is it because the exotics don't offer winning propositions? I think that with their expertise the exotics would offer better value.
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They bet the exotics, too. It just isn't as noticeable at a glance. The bot sees value and bets it.
I doubt more than 20% of the teams are still making a profit. There are too many of them, and they're stepping on each others' toes. Flyer's team folded its tent a while ago. Some of the others are complaining about how tough it's gotten. Boo hoo, cry me a river.
I'm no longer anti-whale for two reasons.
First, the industry is going to disappear anyway. They're too stupid not to.
Second, I figured out how to use what the whales do to make a profit for myself. So I hope they or their replacements have plenty of money. I intend to get a share of it.
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09-12-2018, 04:05 PM
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#44
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,921
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Quote:
Originally Posted by Pensacola Pete
Second, I figured out how to use what the whales do to make a profit for myself. So I hope they or their replacements have plenty of money. I intend to get a share of it.
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That's the spirit!
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09-12-2018, 04:22 PM
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#45
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,769
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Quote:
Originally Posted by Dave Schwartz
That's the spirit!
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don't laugh at this guy, he has the right idea!
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