Fixed odds betting at 2020 Monmouth meet

[biggestal99]

https://www.drf.com/news/fixed-odds-...uth-meet?type=

It’s already been posted in the sports betting thread but I think it needs one of its own as this is huge.

Allan

[green80]

Will fixed odds betting be the answer to the problem with late odds drops? What kind of deal will we get with fixed odds, what's the take?

[horses4courses]

BetMakers should be commended for starting this venture.
They won't make much money doing it, if any at all.

Now, if they were eventually allowed to expand to all
major tracks across the country? That would be different.

At least it seems it will be offered to everyone betting on
Monmouth Park, regardless of where they are betting from.

Good luck to them.
It could change the game in a good way.

[cj]

Exchange is way better than fixed odds IMO. I guess we'll have to see the lines offered, but I'm not optimistic. Win against the house and you usually get blackballed. It has already happened big time with sports betting in New Jersey.

[horses4courses]

to get backed off by a bookmaker.

They are running a business.
Anyone with a consistent edge in beating the house
through wagering on anything, can't expect to repeat
that act over and over. You'll be told to take your
business elsewhere. Nothing personal. It's just business.

The biggest obstacle for US race bettors that I can see
is the popularity of exotic wagering, especially high
paying horizontal wagers. Pari-mutuel wagering is the
only way to go with exotics - from exactas on up.
The limits imposed by bookmakers make them
impossible to bet on.

Exchange wagering is fine and dandy.
The house automatically gets it's cut, and sophisticated
bettors can shop around for attractive odds.
There is no danger that they can't get down, however,
how long can they depend on square bettors to take their action?
Eventually that money source will dry up. Also, their limits are often low.

A concern for everyone is race fixing/doping.
Doesn't matter what type of wagering is involved.
It's probably easiest to get away with in the pari-mutuel arena.
Bookmakers won't sustain paying out - fixers leave footprints on exchanges.

Fixed odds at Monmouth will likely start off slowly.
Somewhere down the line, though, someone with
insider information will get greedy and take a shot.
Could be very interesting.

[Appy]

I, for one, would find playing Monmouth far more attractive with fixed odds than I have in the past. But I doubt it will be a lasting change. Seems to me the really big players and organizations laundering huge sums would drool over such an arrangement.
But it would surely change the late money system we have going now. The only impedance to getting your play entered is waiting for the changes to be posted. That would be a huge time saver.

[castaway01]

It's always good to have another option, though the Monmouth product has become so unappealing that I don't know if this change could make me bet it.

[cutchemist42]

Australia has fixed odds doesnt it? How do they handle fixed races?

[biggestal99]

Originally Posted by green80

Will fixed odds betting be the answer to the problem with late odds drops? What kind of deal will we get with fixed odds, what's the take?

The devil is always in the details.


Australia, Ireland and the UK offer fixed odds, along with the tote and the exchange. its just more innovative thinking by monmouth.


with this deal, Monmouth is also exposing their PM pools to international bettors.


Allan

[biggestal99]

Originally Posted by cj

Exchange is way better than fixed odds IMO. I guess we'll have to see the lines offered, but I'm not optimistic. Win against the house and you usually get blackballed. It has already happened big time with sports betting in New Jersey.

I am sure I will have a fixed odds account, along with my exchange account.

We shall see who offers the best price.

The only thing bad about fixed odds is that I can’t lay bets.

I am also quite sure there will be some arb opportunities that bots will spot

Allan

[Onion Monster]

[Redboard]

Interesting! 90 seconds to post, the pari-mutuel says 6-1, BetMakers will give you 4-1 now. The DD odds suggest 3-1. What do you do?

Hope it works.

Good luck Monmouth.

[MJC922]

Originally Posted by biggestal99

I am sure I will have a fixed odds account, along with my exchange account.

We shall see who offers the best price.

The only thing bad about fixed odds is that I can’t lay bets.

I am also quite sure there will be some arb opportunities that bots will spot

Allan

Lay against is just dutching the entire field against one horse. They could offer it if they want to, it's just another set of odds.

[MJC922]

Originally Posted by Redboard

Interesting! 90 seconds to post, the pari-mutuel says 6-1, BetMakers will give you 4-1 now. The DD odds suggest 3-1. What do you do?

Hope it works.

Good luck Monmouth.

If he's 3-1 on your line you just take the 4-1 and sleep like a baby because long term you're golden... this is a huge game changer.

[MJC922]

Originally Posted by green80

Will fixed odds betting be the answer to the problem with late odds drops? What kind of deal will we get with fixed odds, what's the take?

The handicapper creates a 100% line, consider tote odds are approx 100% + Win pool takeout, with breakage etc ballpark 120%. A fixed odds line will (I suspect) be a notch higher. The percentage higher will lead many to believe this is a bad deal and it's relevant but it's only relevant to how many overlays you'll actually find. If it's too high then overlays will be rare enough that it won't be worth bothering. I don't think it will be nearly that bad.

What can't be underestimated is for the first time you can actually prevent yourself from betting on what you believe to be an underlay. It finally levels the playing field 100% because if you're good enough and can manage your money you will win something.