Track Advantage
January 29th, 2010 at 5:53:06 AM
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I understand the house Advantage at casinos and I do pretty well playing craps and blackjack. I don’t know what I did to horses in a past life but they seem to hate me. Anyone care to comment on the “Track Advantage” at the race track?
January 29th, 2010 at 5:57:24 AM
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It's a lot bigger. 20% or more.
Wisdom is the quality that keeps you out of situations where you would otherwise need it
January 30th, 2010 at 9:47:24 AM
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It depends on the track and the bet, but in general about 17% for win/place/show, and 20%-25% for exotics. See my page on racetrack betting for more information.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
January 30th, 2010 at 8:56:14 PM
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That's just the advantage on the field as a whole. Individual runners in a parimutual market can be both under or over the odds since the market is determined entirely by the popularity of each runner. It's not an efficient market in any event.
