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Thread: fixed odds betting

  1. #1
    Monmouth Park in New Jersey will be offering fixed odds wagering on horses when they open at the end of the month. That means you can bet a horse at the odds at the time of the wager rather than watch its odds drop to your dismay.

    A couple of things:

    1. The Sport of Kings in Las Vegas got murdered offering fixed odds years ago.
    2. Easy to manipulate. Make a huge bet on #1 in the regular pari-mutuel pool to get the odds up on all the other horses. Bet the horses you like at the arbitrarily high odds. Then cancel the original large bet.
    I won't name names but it can and has been done before.

    I wish I could go to New Jersey for the summer.

    I should add that I haven't read the rules and they may have separate odds for the fixed odds wagers that wouldn't be affected by the above. Now I have homework to do.
    Last edited by regnis; 05-04-2022 at 12:00 PM.

  2. #2
    Thanks for the information.
    I know nothing about horse racing but even I know that Fixed Odds would get killed.
    The only stories I know are ones of fixing and its quite common in horse racing.
    Stu Unger made some serious dough due to inside information on the Horses.

  3. #3
    Originally Posted by regnis View Post
    Monmouth Park in New Jersey will be offering fixed odds wagering on horses when they open at the end of the month. That means you can bet a horse at the odds at the time of the wager rather than watch its odds drop to your dismay.

    A couple of things:

    1. The Sport of Kings in Las Vegas got murdered offering fixed odds years ago.
    2. Easy to manipulate. Make a huge bet on #1 in the regular pari-mutuel pool to get the odds up on all the other horses. Bet the horses you like at the arbitrarily high odds. Then cancel the original large bet.
    I won't name names but it can and has been done before.

    I wish I could go to New Jersey for the summer.

    I should add that I haven't read the rules and they may have separate odds for the fixed odds wagers that wouldn't be affected by the above. Now I have homework to do.



    below is an article from racing's greatest writer, Andrew Beyer, from 1993, about how sharps crushed a Las Vegas racebook when they offered fixed odds wagering



    https://www.washingtonpost.com/archi...-1bb435c6a839/
    please don't feed the trolls

  4. #4
    So this means it's no longer parimutuel betting? Who covers a lopsided win?

  5. #5
    They will still have pari. And initially the fixed odds are only on track and/ or in New Jersey. It is not yet legal in other states. That is why I said I wish I could spend the summer there.

  6. #6
    Originally Posted by regnis View Post
    They will still have pari. And initially the fixed odds are only on track and/ or in New Jersey. It is not yet legal in other states. That is why I said I wish I could spend the summer there.
    I have the time and I could make the journey but I would think they would get hip real quick and shut this shit down.
    Or maybe even something worse would happen to me.
    It is New Jersey after all.
    They don't Fuck around over there.

  7. #7
    But again, who will cover a lopsided win?

  8. #8
    I do need to get those rules. If they allow the manipulation that I described they will get killed. Even if they don’t allow it somehow, they still should get killed.

    But it has been available in Europe for years so what do I know.

  9. #9
    Originally Posted by Alan Mendelson View Post
    But again, who will cover a lopsided win?
    Depends how the pools are constructed and how the fixed odds are determined. If the fixed odds don’t change with the flow of or based upon the parimutuel odds, then they will probably set the bombs low. If it is all tied into the parimutuel odds, the track is at risk.

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