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07-10-2018, 06:13 PM
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#1
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Veteran
Join Date: Apr 2018
Posts: 188
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Why do Canadian tracks show prices in US dollars?
How do they figure that out since there is clearly a differance in the exchange rate?
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07-10-2018, 06:29 PM
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#2
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Registered User
Join Date: Mar 2017
Posts: 3
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I'm pretty sure that the prices are for whatever currency you bet. If a horse pays 4.40 to win at woodbine, if i bet 20 Canadian to win i would get back $44.00 and if an American bet $20 USD to win they would get back $44 USD. The only time the currency matters is when it comes down to taking an entire pool for a p4, p5 or p6 kind of wager. If the pool is won by someone in Canada the payout will appear to be larger then if someone in the US, only because the currency is worth less.
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07-10-2018, 06:31 PM
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#3
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Registered User
Join Date: Aug 2012
Posts: 8,798
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Quote:
Originally Posted by ZippyChippy423
How do they figure that out since there is clearly a differance in the exchange rate?
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Actually, a $2USD bet should pay the exact same thing in USD that a $2CAD bet would pay in CAD. If a horse pays $2.60 Canadian to win on a $2 bet at the track, it should pay $2.60 American to win on a $2 bet in the US at an ADW.
So I assume what happens is that money bet in the US pools gets converted to CAD at the current exchange rate when takeout is calculated.
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07-10-2018, 06:37 PM
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#4
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Veteran
Join Date: Apr 2018
Posts: 188
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Makes zero sense to list prices in US currency
The value is simply not the same and the tracks are not even in the USA.
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07-11-2018, 01:30 AM
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#5
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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Maybe they want the US Simulcasting business and have agreed to post prices converted to US Dollar?
I don't know. Just a guess.
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07-11-2018, 09:18 AM
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#6
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dGnr8
Join Date: Aug 2003
Location: Niagara, Ontario
Posts: 3,023
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Quote:
Originally Posted by ZippyChippy423
Why do Canadian tracks show prices in US dollars?
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The simple answer is that they don't. You see the prices in Canadian dollars.
The prices are set by the odds (which you knew) and it just happens that we both have a currency named a Dollar. A 2/1 winner pays 6 'dollars' whether US or CAD because of the odds not the currency.
If you were betting in Canadian dollars and getting a US dollar payoff then you would see different payoff numbers but you are betting US$ and getting paid in US$.
Today, your $100US bet is equivalent to about $135CAD. This is the amount that goes into the pool and is used to calculate the odds. If you get an even money payoff you get back the equivalent of $270CAD or $200US.
__________________
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The great menace to progress is not ignorance but the illusion of knowledge - Daniel J. Boorstin
The takers get the honey, the givers sing the blues - Robin Trower, Too Rolling Stoned - 1974
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07-11-2018, 02:33 PM
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#7
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,810
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Back in the 70s, we used drive over to Fort Erie to play the horses. I would buy a $20 voucher with a US bill and a $24-25 voucher due to the exchange rate at the time.
That was great!
When you cashed out, you got hit going back, but if you lost it all, you came out ahead! 
__________________
Who does the Racing Form Detective like in this one?
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07-11-2018, 05:03 PM
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#8
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Registered User
Join Date: Feb 2014
Posts: 4,520
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I bet the exchange with UK people.
Every horseplayer alive knows what 5-1 is.
You plunk 2 pounds, dollars, euros etc.
Ya get back 12 pounds, dollars, euros etc.
At the on track bookies in the U.K., they accept euros and pounds.
So if you bet dollars into the pm pools you get back dollars.
Allan
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07-11-2018, 09:56 PM
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#9
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,533
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Oh, it was a TRICK question...duh! 
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07-12-2018, 12:40 AM
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#10
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Registered User
Join Date: Jun 2018
Posts: 53
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Interesting tidbit that my father always used to say: Sometimes tracks such as Woodbine, Fort Erie and other Canadian tracks have different pools for canadian and american money, so the payouts can vary a little bit.
I'm not sure if this is actually true, or if this is how it used to be but has since changed, but I remember him mentioning this to me. If somebody could explain if this is/was a thing I would appreciate it!
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07-12-2018, 02:25 AM
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#11
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longshot kick de bucket
Join Date: Aug 2009
Location: niagara falls ont.
Posts: 1,218
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what hurts us here is woodbine taking a takeout out of the takeout.
__________________
let the fools have their tar tar sauce.
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