As sports betting expands, horse racing faces an 'essential' need to adapt

[lamboguy]

Originally Posted by biggestal99

sorry i was wrong, its 2500.

here are the rules

https://global.racing/wp-content/upl...-APR-28-22.pdf

BETTING OBLIGATIONS OF BOOKMAKERS
Any Bookmaker Betting on a racetrack offering Fixed Odds against a horse and conducting face-to-face Betting via cash or account, is required to accept a Fixed Odds bet in the categories described below up to the maximum amounts for the Bookmaker to lose as specified below, with amounts greater than subject to referral:

Monmouth Park Race Meeting
a. In any one win or win/place/show: to lose $2,500 on day of actual race day
b. In any one place or show Bet: to lose $1,000 on day of actual race day

see the word REQUIRED.

Allan

you read this wrong, the bookmaker can only accept bets where the customer can win up to $2500 on a given race. that's still more than i would expect them to take.

its enough to get me to Monmouth as long as the party last's for the weekends.

[LemonSoupKid]

Why don't they just give you the new/immediate price (once a scratch takes place)? Wouldn't that be the "discount"? Or does the player stand to make more ... hmmm that's a weird scenario.

[Parkview_Pirate]

Back around 2000 I was licking my chops when I opened an IASBET account that offered fix odds wagering on Aussie racing. I felt it would be easy to avoid those late price drops on live horses on the small North American pools.

I was wrong.

It turned out the better deal was to usually play their tote prices, which co-mingled with the Aussie totes, and were larger than North America. The fixed price odds very rarely offered a better price than the tote, especially early. If I made 120 bets in a month, maybe five were fixed odds. If I followed the circuit more closely, I might have made more, but for a casual player on the weekends it didn't change my approach much.

I've never looked into the details of Exchange or (now) the new blockchain idea of wagering, but I don't see how there's a magic way to keep the existing fingers of politicians, track owners, and horsemen out of the pie we call take.

The pie is shrinking, nobody wants a smaller slice, but the players are at the end of the line. We just get the crumbs.

Racing is the greatest sport around, but it's hard to compete with other sports that have lower run costs and are easier to "handicap".

[Dave Schwartz]

Parkview,

You continue to make excellent, cut-to-the-reality posts.


Thank you.

A couple of years ago I did some AUS projects.

Apparently, the pools Americans typically bet into are not the same as the AUS pools. They are special/different pools. (At least this is my understanding.)

As such, the pools are miniscule in comparison to the same races in the AUS TABs.

Do you have knowledge of this?

[biggestal99]

Originally Posted by lamboguy

you read this wrong, the bookmaker can only accept bets where the customer can win up to $2500 on a given race. that's still more than i would expect them to take.

its enough to get me to Monmouth as long as the party last's for the weekends.

so you can bet 1000 on 3-2 shot without approval.

sounds good to me.

i guess we shall see tomorrow.

i was going to be there opening day.

weather forecast is a bummer (50, rainy and windy)

guess i will have to wait a week

Allan

[Onesome]

Looking at some of the early final fixed odds prices at Monmouth so far, somewhere in the low 120% range for the overround...total joke without more competition. Just like exchange wagering, they found a way to botch it.

[biggestal99]

here is a report on yesterdays first day of fixed odds betting

https://www.thoroughbreddailynews.co...GizbDk.twitter

and a little blurb about the betting

“Bargains were to be had, starting with the first race. Race winner Rhumjar (Holy Boss) took a lot of late action with the tote and went off at 2-1, paying $6. He opened at 9-2 in the fixed odds and held steady at that price. In the same race, beaten favorite Mr. Extension (Malibu Moon) went off at odds of 9-10 on the tote but could be had 8-5 in the fixed-odds betting.

It happened again in the second race with winner Kingdom Queen (Exaggerator) opening at 20-1 in the fixed odds before drifting down to 15-1. The filly went off at 8-1 in the pari-mutuel pools, paying $18.20. In the fifth race, Hushion (The Lumber Guy) paid $17.20 in pari-mutuel wagering with a $2 fixed odds bet closing at $28.00.“

seems to me there is an upside if the horse in the first paid 9-2 on the fixed odds and 2-1 on the tote.

Allan

[biggestal99]

Originally Posted by Andy Asaro

https://twitter.com/racetrackandy/st...82655349280769

according to george e smithy on twitter the sp ran between 15.6% in 9th race to 29% in the 5th.

Allan