parimutuels: lowest (takeout%) minus (rebate%) = ?? what's the lowest %??
April 25th, 2014 at 9:21:35 PM
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(first post -- relocate as needed -- couldn't find horseracing forum header...)
Spent 2 yrs 1988-90 betting Dr. William Ziemba place & show overlays;
churned $2M & lost 2%; did much much better in stock market since then!!
But recently learned online about "rebate shops" returning 10% to big bettors...
Unfortunately, that seems to be pre-2011 & now the best rebate is only 3%?
In simple formula: (takeout%) minus (rebate%) = ?
what is lowest number available to US citizens?
e.g., big NY tracks are now at 14% takeout & 14% - 3% = 11% disadvantage to overcome
Is 11% the lowest? Is anyone offering 10% rebate or more on total betting?
If yes, then 14% - 10% = 4% disadvantage would be easy to overcome, IMO!!
Historically, heavy favorites, 1/1 or shorter = -5% at tracks, could be -5% + 10% rebate = 5% profit online??!!
(big CA tracks = 15.5% takeout, big KY tracks 16%)
Do online live streams from major NY-CA-KY tracks show win-place-show
pools for each horse & overall within 30 seconds of race starts?
Any info, comments from online betting vets appreciated! Thanks in advance.
Spent 2 yrs 1988-90 betting Dr. William Ziemba place & show overlays;
churned $2M & lost 2%; did much much better in stock market since then!!
But recently learned online about "rebate shops" returning 10% to big bettors...
Unfortunately, that seems to be pre-2011 & now the best rebate is only 3%?
In simple formula: (takeout%) minus (rebate%) = ?
what is lowest number available to US citizens?
e.g., big NY tracks are now at 14% takeout & 14% - 3% = 11% disadvantage to overcome
Is 11% the lowest? Is anyone offering 10% rebate or more on total betting?
If yes, then 14% - 10% = 4% disadvantage would be easy to overcome, IMO!!
Historically, heavy favorites, 1/1 or shorter = -5% at tracks, could be -5% + 10% rebate = 5% profit online??!!
(big CA tracks = 15.5% takeout, big KY tracks 16%)
Do online live streams from major NY-CA-KY tracks show win-place-show
pools for each horse & overall within 30 seconds of race starts?
Any info, comments from online betting vets appreciated! Thanks in advance.
April 25th, 2014 at 10:17:20 PM
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Rebates have gotten worse. You'd have to be a massive bettor to even get 3%.
I'm convinced the average person can't make money on the pools. Whenever you think you've got a great pool to bet into, it changes after the race goes off. The 30 second to the race update is just a tease.
And yes, we need a horse racing forum. My request has gone on deaf ears!
I'm convinced the average person can't make money on the pools. Whenever you think you've got a great pool to bet into, it changes after the race goes off. The 30 second to the race update is just a tease.
And yes, we need a horse racing forum. My request has gone on deaf ears!
