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Horse Betting

Discussion in 'The Sports Book' started by Bgoll279, May 28, 2015.

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  1. Bgoll279

    Bgoll279 Tourist

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    Can someone tell me how betting tickets are paid?

    If I make a bet when the current odds are for example 5 to 1, but the final odds when the race is run go off at say 3 to 1, which odds are paid to me?

    Someone told me that everyone is paid based on final odds, but that seems to diminish any value of being better than the crowd when placing your bet. Neither of us has experience with it, but I know I can get the correct answer on VMB.
     
  2. DonD

    DonD Super Moderator

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  3. Snidely

    Snidely VIP Whale

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    Why do you doubt that someone? He/she told you correctly.

    There is a knowledgeable person that sets the starting odds called the morning line. These odds then change based on the public's betting. Sometimes what you think is a +EV bet turns into a -EV bet at post time and vice versa. If you watch horse racing, you'll see the payouts based on a $2 bet For example: $5.40 to win, $3.80 to place and $2.40 to show. Those are the payouts for everyone no matter what the odds where when you placed your bet. Every bet made changes the odds and payouts by at least some fraction of a penny.
     
  4. pd54

    pd54 Low-Roller

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    It's better in the UK & Ireland. When betting online you get the price from when you take the bet and if the starting price is better you get that instead!

    PS Does anyone know if you can bet on the UK&Ireland horse racing in Vegas?
     
  5. wanker751

    wanker751 Dutch Rudder Enthusiast

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    I am sure you can, you can do it here in Illinois and with the online racing sites like xpressbet. But online is is pari-mutual as well I believe.

    I hit a 1200 trifecta in Australia once. I boxed 3 horses for $1, went to sleep, woke up to check the account...boom!
     
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  6. wisconsin terp

    wisconsin terp Tourist

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    I have never seen English or Irish horse betting in Vegas. Maybe a race or two from Ascot but nothing regularly in any of the books.
     
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