Thread Rating:

lilredrooster
lilredrooster
  • Threads: 237
  • Posts: 6791
Joined: May 8, 2015
June 29th, 2024 at 9:23:10 AM permalink
Quote: Mental

To illustrate the way parimutuel tracks operate, consider a match race between two horses where the public did not favor either. There is $100K bet on each horse. The track takes out 16% of $200K or $32K. This is the house edge and it is 16% before any boost from breakage.


yeah, you're right

my bad

the exception is the minus pools where for example bridge jumpers bet a gigantic amount on a 1/5 fave to show in a 5 horse field and the track cannot pay them less than $2.10 back by their rules no matter what the calculation is

there are I believe 3 tracks which require a minimum $2.20 payout - and I believe the jumpers follow those tracks like hawks - 10% profit might not seem like much - but hey, it's double everywhere else

in these situations the tracks can actually lose money on a horse race - but a comparatively gigantic amount must be bet by the jumpers for that to happen

.
the foolish sayings of a rich man often pass for words of wisdom by the fools around him
Mental
Mental
  • Threads: 14
  • Posts: 1433
Joined: Dec 10, 2018
Thanked by
lilredrooster
June 29th, 2024 at 11:20:40 AM permalink
Quote: lilredrooster

Quote: Mental

To illustrate the way parimutuel tracks operate, consider a match race between two horses where the public did not favor either. There is $100K bet on each horse. The track takes out 16% of $200K or $32K. This is the house edge and it is 16% before any boost from breakage.


yeah, you're right

my bad

the exception is the minus pools where for example bridge jumpers bet a gigantic amount on a 1/5 fave to show in a 5 horse field and the track cannot pay them less than $2.10 back by their rules no matter what the calculation is

there are I believe 3 tracks which require a minimum $2.20 payout - and I believe the jumpers follow those tracks like hawks - 10% profit might not seem like much - but hey, it's double everywhere else

in these situations the tracks can actually lose money on a horse race - but a comparatively gigantic amount must be bet by the jumpers for that to happen

.
link to original post

I was once at the track for a four horse stakes race. The track would normally cancel the show pool, but they left it open just because it was a stakes race. A bridge jumper bet about $100K on one of the favorites to show near post time. I quickly bet a few hundred on the other favorite to show. The bridge jumper's horse pulled up on the far turn. One of the horses paid $28 to show! My show bet on the co-favorite paid $15 to show and $3.80 to win.
Last edited by: Mental on Jun 29, 2024
This forum is more enjoyable after I learned how to use the 'Block this user' button.
DRich
DRich
  • Threads: 89
  • Posts: 11998
Joined: Jul 6, 2012
June 29th, 2024 at 4:37:01 PM permalink
Quote: Mental

Quote: lilredrooster

Quote: Mental

To illustrate the way parimutuel tracks operate, consider a match race between two horses where the public did not favor either. There is $100K bet on each horse. The track takes out 16% of $200K or $32K. This is the house edge and it is 16% before any boost from breakage.


yeah, you're right

my bad

the exception is the minus pools where for example bridge jumpers bet a gigantic amount on a 1/5 fave to show in a 5 horse field and the track cannot pay them less than $2.10 back by their rules no matter what the calculation is

there are I believe 3 tracks which require a minimum $2.20 payout - and I believe the jumpers follow those tracks like hawks - 10% profit might not seem like much - but hey, it's double everywhere else

in these situations the tracks can actually lose money on a horse race - but a comparatively gigantic amount must be bet by the jumpers for that to happen

.
link to original post

I was once at the track for a four horse stakes race. The track would normally cancel the show pool, but they left it open just because it was a stakes race. A bridge jumper bet about $100K on one of the favorites to show near post time. I quickly bet a few hundred on the other favorite to show. The bridge jumper's horse pulled up on the far turn. One of the horses paid $28 to show! My show bet on the co-favorite paid $15 to show and $3.80 to win.
link to original post



I love finding opportunities where the Show pool pays more than the Win pool.
At my age, a "Life In Prison" sentence is not much of a deterrent.
Actuarial
Actuarial
  • Threads: 12
  • Posts: 106
Joined: Apr 23, 2014
July 10th, 2024 at 1:28:24 PM permalink
Anyone attending Bet Bash next month? This will be my first time going. I was very successful betting 2019 - 2023 until every site limited/banned me, so not exactly sure the best angle to take with the conference.
SOOPOO
SOOPOO
  • Threads: 122
  • Posts: 11125
Joined: Aug 8, 2010
Thanked by
camapl
July 13th, 2024 at 7:34:12 AM permalink
Just made 0 EV bets. One site had Paolini -130, another Krejcikova +130. Kept betting both until Paolini went to -135. I get points on both sites, essentially for free.
The sites have throttled back on the points for a bettor like me. I might not make even the second tier on MGM, Caesars, DraftKings this year. So any ‘free’ points are a bonus.
  • Jump to: