Sickening Late $

[Bustin Stones]

The only information that has value is actionable information. If you know the odds are 3-1 and not 6-1 on the horse you think has the best chance to win...is it going to cause you to remove your bet or select another horse? Would you bet against the horse you believe has the best chance of winning?
Your opinion of the race is not associated to the odds. The race is an event with an outcome that is independent of the odds.
Why have a method of arriving at a winner and then betting against that choice? The odds on your choice do not dictate your next action.

[Bustin Stones]

Furthermore, in today's world, large syndicates believe a 10-1 horse has a 20% of winning and places large bets late, driving the odds to 6-1. They make their profit, but not the amount they would make if the 10-1 were guaranteed.
In the world where the 10-1 is guaranteed by the house, that extra profit comes from raising the take on win bets. The house is not going to absorb those losses.
So, now you and I are paying the syndicates to run their operation.
Let's remove this suggestion from the box and move on.

[porchy44]

Rams are 4/5 to win Super Bowl. Rams score Touchdown on opening Kickoff. Rams are now 3/5 to win Super Bowl. No problem Our System is just a little outdated, waiting for the late money to come in.

[davew]

Originally Posted by 1776Mike

What's wrong with not allowing any runners into the starting gate
until the public can see the final odds?

how long it takes for all the bets from locations around the world to get to the processing center that handles that track

how long it takes to load all the horses in a race

the occasional late scratch when a horse flips in a gate or breaks through and runs half a race before stopping

Are you going to open betting again since race dynamic has changed without the scratched horses?


why does it matter that you know what final odds are before race starts?
do you think it would change how any jockeys run the race?

[sharkey11]

as the former bookie would say PAST POSTING ! jocks and people can read a tote not horses

[geroge.burns99]

ALL your problems will be answered soon


When Monmouth offers "fixed odds wagering"

Then we'll start a new thread on those problems ......

[porchy44]

Originally Posted by davew

.......why does it matter that you know what final odds are before race starts?
do you think it would change how any jockeys run the race?

It wouldn't matter to me at all if it didn't look so bad.
Any race a winning horse goes up in odds during a race, I feel like I just witnessed a solar eclipse.

[sharkey11]

ok thats great but will racings problems be solved ? george

[geroge.burns99]

Originally Posted by sharkey11

ok thats great but will racings problems be solved ? george

one problem at a time ...grasshopper

LOL

[biggestal99]

Originally Posted by geroge.burns99

ALL your problems will be answered soon


When Monmouth offers "fixed odds wagering"

Then we'll start a new thread on those problems ......

Monmouth is not offering fixed odds betting in jersey.

The sports wagering places are.

We shall see which ones.

I imagine FanDuel, Caesar, and Draft kings will put their tow in the water first.

Allan

[1776Mike]

Originally Posted by porchy44

It wouldn't matter to me at all if it didn't look so bad.
Any race a winning horse goes up in odds during a race, I feel like I just witnessed a solar eclipse.

Thank you porchy44. That's the main point.

[vegasone]

You will never know the exact odds you get in parimutuel betting. If the betting closes at 1 minute to post then if you bet 5 seconds before it closes and someone bets 2 seconds before it closes that will change the odds. If the system still updates after the betting closes then the odds will probably be different. Unless they change the system to instantaneous updates, not much can help the changing odds....only the perceptions.

[Dave Schwartz]

only the perceptions.

Correct.

I contend that changing the perceptions have merit.

[ReplayRandall]

If the betting stopped once the first horse was loaded, by the time the field was finally sent off, the final odds would be known and shown.....The perception would then be clean and fair, IMO.

[cj]

Originally Posted by Dave Schwartz

Correct.

I contend that changing the perceptions have merit.

It isn't just perception. There have been verified instances of past posting because of mistakes being made, even recently. So it is also a safety measure.