It is possible to have a small negative ROI before the rebates and a small positive ROI after the rebate. That is cutting it pretty thin when you figure in some expenses and you better have a very large bankroll to bet with if you plan on making a living that way. You going to have to run a lot of money through the windows and you have to be careful not to kill your own odds to point where it is not profitable even with the rebates.
There is already a thread about this guy. He is a crook. He bet other people's money and kept the rebates for himself. Anybody can make money, if they steal it. At least till they get caught.
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Some day in the not too distant future, horse players will betting on computer generated races over the net. Race tracks will become casinos and shopping centers. And some crooner will be belting out "there used to be a race track here".
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