One horse leading another by the length of its head. Head Of The Stretch Beginning of the straight run to the finish line. Heavy track Wettest possible condition of a turf course, similar to muddy but slower; not usually found in North America. Hedge The covering of a bet with a second bet. Hedging A bet made by a cautious bookie on a horse on which he has accepted large bets - in order to cut his losses if the horse wins also known as a 'lay-off bet'.
Heinz A Heinz is a multiple bet consisting of 57 bets involving 6 selections in different events. The multiple bet breakdown is 15 doubles, 20 trebles, 15x4-folds, 6x5-folds and one 6-fold. High Weight Highest weight assigned or carried in a race. Home Turn The final turn a horse must travel around before entering the home straight in the run to the finish line. Horse When reference is made to sex, a 'horse' is an ungelded male five-years-old or older.
Hung A horse holding the same position, unable to make up distance on the winner. Impost Weight carried or assigned. In Hand Running under moderate control, at less than best pace. Inquiry Reviewing the race to check into a possible infraction of the rules.
Also, a sign flashed by officials on the tote board on such occasions. If lodged by a jockey, it is called an objection. In The Money Describes the horses in a race that finish 1st, 2nd and 3rd and sometimes 4th or the horses on which money will be paid to bettors, depending on the place terms. Investor A bettor. A person at a licensed race meeting who bets with a bookmaker or the totalisator, or a person not present at the meeting, but places bets on the horses engaged at that meeting with the off-course totalisator.
Joint Favourites When a sportsbook or bookmaker cannot separate two horses or teams for favouritism, they are made joint favourites. Judge The person who declares the official placing for each race. Juice The bookmaker's commission, also known as vigorish or vig.
Jumper Steeplechase or hurdle horse. Jolly The favourite in a race. Judge The official who determines the finishing order of a race. Juvenile Two-year-old horse. Key Horse The main expected winning horse used in multiple combinations in an exotic wager. Late Double A second daily double offered during the latter part of the program. See 'Daily Double' above. Lay Off, Layoff Bets made by one bookmaker with another bookmaker, in an effort to reduce his liability in respect of bets already laid by him with investors.
Leg In To nominate one runner to win with a selection of other runners. Quinella bet with selection 4 to win, from runners 5, 7, 8 and 9 to come second, in any order. Length A measurement approximating the length of a horse from nose to tail, about 8 feet, used to denote distance between horses in a race. For example, "Secretariat won the Belmont by 31 lengths". Lengthen The opposite of 'Shorten'. Referred to odds getting longer, that is, more attractive to the bettor.
Listed Race A stakes race just below a group race or graded race in quality. Lock As in 'Banker' US term for an almost certain winner. Easy winner. Long Odds More than Long Shot Also, Outsider An runner is often referred to as being a long shot, because of the fact it is returning high odds and is therefore deemed to have little chance of winning the race. Lug In Out Action of a tiring horse, bearing in or out, failing to keep a straight course. Maiden 1 A horse or rider that has not won a race.
Maiden Race A race for non-winners. Mare Female horse five-years-old or older. Market The list of all horses engaged in a race and their respective odds. Meeting A collection of races conducted by a club on the same day or night forms a race meeting.
Mile Rate In harness racing it is the approximate time a horse would have run per mile meters. Minus Pool A mutuel pool caused when a horse is so heavily played that, after deductions of state tax and commission, there is not enough money left to pay the legally prescribed minimum on each winning bet.
The racing association usually makes up the difference. Money Rider A rider who excels in rich races. Morning Glory Horse who performs well in morning workouts but fails to fire in actual races. Morning Line Approximate odds quoted before wagering begins. Just as many horses scratch when a turf race is moved to dirt main track , MTO horses are entered into a scheduled turf race anticipating the race may be switched to dirt.
Turf races occasionally include MTO entrants. They will be added into the field if the race is taken off the turf and scratches can accommodate them. Mudder A horse that races well on muddy tracks. Also known as a 'Mudlark'. Muddy track A condition of a racetrack which is wet but has no standing water. Mutuel Pool Short for 'Parimutuel Pool'. Sum of the wagers on a race or event, such as the win pool, daily double pool, exacta pool, etc.
Nap The selection that racing correspondents and tipsters nominate as their strongest selection of the day or meeting. Reputed to stand for 'Napoleon'. National Thoroughbred Racing Association NTRA A non-profit, membership organization created in to improve economic conditions and public interest in Thoroughbred racing. Neck Unit of measurement about the length of a horse's neck. Nod Lowering of head.
To win by a nod, a horse extends its head with its nose touching the finish line ahead of a close competitor. Nominations The complete list of runners entered by owners and trainers for a race. Nose Smallest advantage a horse can win by. Called a short head in Britain. Nursery A handicap for two-year-old horses. Oaks A stakes event for three-year-old fillies females. Objection Claim of foul lodged by rider, patrol judge or other official after the running of a race.
If lodged by official, it is called an inquiry. Odds The sportsbook's or bookmaker's view of the chance of a competitor winning adjusted to include a profit. The figure or fraction by which a bookmaker or totalisator offers to multiply a bettor's stake, which the bettor is entitled to receive plus his or her own stake if their selection wins.
Odds-against Where the odds are greater than evens e. When the bookmaker's or totalisator's stake is greater than the bettor's stake. Odds Compiler Same as 'Oddsmaker' below. Oddsmaker A person who sets the betting odds. Sportsbooks or Bookies don't set the odds. Most major sportsbooks use odds set by Las Vegas oddsmakers. Odds Man US At tracks where computers are not in use, an employee who calculates changing odds as betting progresses.
Odds-On Odds of less than even money. This a bet where you have to outlay more than you win. For example if a horse is two to one Odds-On, you have to outlay two dollars to win one dollar and your total collect if the horse wins is three dollars. That is made up of your two dollars and the one dollar you win. Official Sign displayed when result is confirmed. Also racing official.
Off the Board US A horse so lightly bet that its pari-mutuel odds exceed 99 to 1. Also, a game or event on which the bookie will not accept action. On The Board Finishing among the first three. On The Nose Betting a horse to win only.
Open Ditch Steeplechase jump with a ditch on the side facing the jockey. Outlay The money a bettor wagers is called his or her outlay. Out Of The Money A horse that finishes worse than third. Outsider A horse that is not expected to win. An outsider is usually quoted at the highest odds. Overbroke Where the book results in a loss for the bookmaker.
Overlay A horse going off at higher odds than it appears to warrant based on its past performances. Overnight Race A race in which entries close a specific number of hours before running such as 48 hours , as opposed to a stakes race for which nominations close weeks and sometimes months in advance.
Over The Top When a horse is considered to have reached its peak for that season. Overweight Surplus weight carried by a horse when the rider cannot make the assigned weight. Pacesetter The horse that is running in front on the lead. Paddock Area where horses are saddled and kept before post time.
Panel A slang term for a furlong. Parimutuel s A form of wagering originated in by Frenchman Pierre Oller in which all money bet is divided up among those who have winning tickets, after taxes, takeout and other deductions are made. Oller called his system 'Parier Mutuel' meaning 'Mutual Stake' or 'betting among ourselves'. As this wagering method was adopted in England it became known as 'Paris Mutuals', and soon after 'Parimutuels'.
Parlay Also, Accumulator A multiple bet. All the selections made must win for you to win the parlay. Part Wheel Using a key horse or horses in different, but not all possible, exotic wagering combinations. Pasteboard Track A lightning fast racing surface. Patent A multiple bet consisting of 7 bets involving 3 selections in different events. A single on each selection, plus 3 doubles and 1 treble. Penalty A weight added to the handicap weight of a horse.
Permutations It is possible to Perm bets or selections e. Phone Betting A service enabling punters to bet on horses with bookmakers by using telephones. Phone TAB Another phone betting service, provided by a totalisator which allows people with special betting accounts to place bets via the telephone. Much the same as a bank account, you must have a credit balance to be able to place a bet. The cost of the investment is debited to your account, and winning dividends and refunds are automatically credited to your account.
Photo Finish A photo is automatically taken as the horses pass the winning line and when the race is too close to be judged the photo is used to determine the order of finish. Picks Betting selections, usually by an expert. Pick Six or more A type of wager in which the winners of all the included races must be selected. Pitch The position where a bookmaker conducts his business on a racecourse.
Place Finish in the top two, top three, top four and sometimes also top five in a competition or event. A Place bet will win if the selection you bet on is among those placed. Usually, a horse runs a place if it finishes in the first three in fields of eight or more horses. If there are only six or seven runners the horse must finish first or second to place.
Different sportsbooks have different Place terms and you should check their rules before placing a bet. In US, 2nd place finish. Pole s Markers at measured distances around the track designating the distance from the finish. The quarter pole, for instance, is a quarter of a mile from the finish, not from the start. Pool Mutuel pool, the total sum bet on a race or a particular bet. Post 1 Starting point for a race. For example, "He drew post four".
For example, "He's posted 10 wins in 14 starts". Post Position Position of stall in starting gate from which a horse starts. Post Time Designated time for a race to start. Price The odds. Protest When a jockey, owner, trainer or steward alleges interference by one party against another during a race that may have affected the outcome of a race.
If a protest is upheld by officials, the runner that caused the interference is placed directly after the horse interfered with. If a protest is dismissed by officials, the original result of the race stands. Punt Another term for bet or wager. Punter Bettor or investor.
Pull Up To stop or slow a horse during or after a race or workout. Quadrella Selecting the winner of four specifically nominated races. Quiniela Quinella Wager in which the first two finishers must be picked in either order. Payoff is made no matter which of the two wins and which runs second. See Wagers for Quiniela variants.
Race Caller The person who describes the race at a racecourse. Racecard A programme for the day's racing. Rail Runner Horse that prefers to run next to the inside rail. Ratings Tipsters may determine a set of ratings which reflect, in their opinion, each runner's chance of winning a particular race taking a number of factors into account when preparing them.
Restricted Races Races which only certain horses are eligible. Return The dividend you receive on a particular bet. Ringer A horse or greyhound entered in a race under another's name - usually a good runner replacing a poorer one. Roughie A horse which is considered to have a 'rough' chance of winning a race. Roundabout A bet consisting of 3 bets involving three selections in different events i.
Rounder A bet consisting of 3 bets involving three selections in different events i. Round Robin A bet consisting of 10 bets 3 pairs of 'Single Stakes About' bets plus 3 doubles and 1 treble involving three selections in different events. US, A series of three or more teams into two-team wagers. Router Horse that performs well at longer distances. Run Free A horse going too fast. Runner A participant in a race. In US, a sportsbook's employee who gathers information on the progress of betting elsewhere on the course.
Also, a messenger 'running' to and from pari-mutuel windows for occupants of clubhouse boxes. Scale Of Weights Fixed weights to be carried by horses in a race according to age, distance, sex, and time of year. Scalper One who attempts to profit from the differences in odds from book to book by betting both sides of the same game at different prices.
Schooled A horse trained for jumping. Scope The potential in a horse. In US, to win a race or a bet. Also, a victory. Scratch To be taken out of a race before it starts. Trainers usually scratch horses due to adverse track conditions or a horse's adverse health.
A veterinarian can scratch a horse at any time. Scratch Sheet Daily publication that includes graded handicaps, tips and scratches. Second Call A secondary mount of a jockey in a race in the event his primary mount is scratched. Selections The horses selected by a knowledgeable person Tipster to have the most likely chance of finishing in first, second and third place. This may also refer to a person's own selections - the horses they have chosen to back. Selling Race A race where the winner is sold by auction immediately afterwards.
Settler A bookmaker's expert who calculates payouts. Shadow Roll Usually a lamb's wool roll half way up the horse's face to keep him from seeing his own shadow. Shorten, Shortening the Odds When the odds of a horse decrease, usually because a lot of money has been wagered on that horse. Short Runner A horse who barely stays, or doesn't stay, the full distance of a race.
Short Price Low odds, meaning a punter will get little return for their initial outlay. Show Third position at the finish. Show Bet Wager on a horse to finish in the money; third or better. Shut Out US What happens to a bettor who gets on the betting line to late and is still waiting in line when the window closes. Also, in sports betting, when the losing team do not score. Silks See 'Colors'.
Simulcast A simultaneous live television transmission of a race to other tracks, off-track betting offices or other outlets for the purpose of wagering. Single A Straight bet on one selection to win one race or event, also known as a straight-up bet.
Single Stakes About or SSA A bet consisting of 2 bets on two selections 1 single on each selection any to come 1 single on the other selection reversed. Sire Father of a horse. Sloppy track A track that is wet on surface, with standing water visible, with firm bottom.
Slow track A racing strip that is wet on both the surface and base. Between good and heavy. Smart Money Insiders' bets or the insiders themselves. Soft track Condition of a turf course with a large amount of moisture. Horses sink very deeply into it. Spell The resting period between preparations or racing. Sportsbook The person, shop or website who accepts bets. Spot Play US Type of play in which bettor risks money only on types of races and horses which seem relatively worthwhile risks.
Sprint Short race, less than one mile. Stake The prize money for the winning horses paid to the owner eg. Stakes The sums of money deposited or guaranteed by the parties to a bet. Stakes-Placed Finished second or third in a stakes race. Stakes Horse A horse whose level of competition includes mostly stakes races. Stallion A male horse used for breeding. Standing Start In harness racing, starters start from a standing position, once the barrier across the track is released.
Starter The person responsible for starting a race. Starting Gate Partitioned mechanical device having stalls in which the horses are confined until the starter releases the doors in front to begin the race. Starting Price or SP An estimation of odds available when the race starts. Starting Stalls Mechanical gates that ensure all horses start in unison.
Stayer Also, Slayer A horse that can race long distances. Steam When a betting selection starts to move quite rapidly, usually caused by many bettors betting on it. Steeplechase A race in which horses are required to jump over a series of obstacles on the course. Also known as a 'Chase'. Stewards The group of people who control the day's racing by ensuring that every runner competes on its merits and imposing penalties for any breach of the rules of racing.
Stewards Enquiry An enquiry by the stewards into a race. Stick Also, Bat A jockey's whip. Stickers Calks on shoes which give a horse better traction in mud or on soft tracks. Stipes Another term for the Stewards. Or Stipendiary Stewards Stooper US Those who make a living picking up discarded mutuel tickets at racetracks and cashing those that have been thrown away by mistake. Store US A sportsbook or a bookie. Straight Betting to win only.
Straight Forecast UK A tote bet operating in races of 3 or more declared runners in which the punter has to pick the first and second to finish in the correct order. See 'Exacta'. Straight Six A wager to correctly select the winner of each of six consecutive nominated races. Strapper Also known as an attendant. A person who assists the trainer, cares for the horse or helps to put on its equipment.
Stretch home-Stretch Final straight portion of the racetrack to the finish. Stretch Runner Horse that runs its fastest nearing the finish of a race. Stretch Turn Bend of track into homestretch. Stud 1 Male horse used for breeding.
Superfecta A bet placed on four horses to cross the finish line in exact chosen order. Super Yankee Alternative name for a multiple bet known as Canadian, a Super Yankee is a Yankee type bet with five selections instead of four. Sure Thing A horse which a punter or tipster believes is unbeatable in a race. Sweepstakes Type of betting whereby each horse in a race is drawn out of a hat by a particular person who pays a set amount of money for the privilege of buying a horse. The people which chose the winner and placegetters will receive a percentage of the total money pool.
System A method of betting, usually mathematically based, used by a punter or bettor to try to get an advantage. The body appointed to regulate off-course betting bets made by people who are not present at the race track. Take Takeout Commission deducted from mutuel pools which is shared by the track, horsemen in the form of purses and local and state governing bodies in the form of tax.
Taken Up A horse pulled up sharply by his rider because of being in close quarters. The Jockey Club An organization dedicated to the improvement of Thoroughbred breeding and racing. Incorporated Feb. Thick'un A big bet. Ticket The betting slip or ticket which is received by the bettor from the bookmaker or totalisator, as proof of his or her wager.
The ticket is necessary to collect the dividends. Ticketer US A forger of bookmakers' tickets. Tic-Tac The secret and complex sign language used by bookmakers at racecourses to indicate movements in the price of a horse. Tierce A French combination bet in which the bettor predicts the horses that will finish 1st, 2nd and 3rd. Tips The selections chosen by an expert to bet on also known as Picks.
See 'Selections'. Tipster A person who makes selections for a race, providing tips on which horses they believe will win the first three places. Top Weight See 'High Weight'. Totalizator Totalisator The system of betting on races an automated system that dispenses and records betting tickets, calculates and displays odds and payoffs and provides the mechanism for cashing winning tickets in which the winning bettors share the total amount bet, minus a percentage for the operators of the system, taxes etc.
Synonyms: Tote, Parimutuel. Tote Totalizator. The organisation appointed to receive bets and supply dividends in proportion to the amount of the investment. A body in the UK set up to operate pool-betting on all racecourses. Tote Board The usually electronic totalizator display in the infield which reflects up-to-the-minute odds. It may also show the amounts wagered in each mutuel pool as well as information such as jockey and equipment changes, etc.
Also known as the 'Board'. Tote Returns Returns from a tote pool also known as a Dividend , calculated by taking the total stake in each pool after the take out and dividing it by the number of winning tickets. A dividend is declared to a fixed stake, for various win, place and forecast pools. Tout Person who professes to have, and sells, advance information on a race. Also used as a verb meaning to sell or advertise. It involves betting on an event in which there is no fluctuation on the payout.
In Australia , the practice is usually known as "SP betting". It is customary with fixed-odds gambling to know the odds at the time of the placement of the wager the "live price" , but the category also includes wagers whose price is determined only when the race or game starts the " starting prices ". In the more usual case of an imbalanced book, the bookmaker may have to pay out more winnings than what is staked or may earn more than mathematically expected. An imbalanced book may arise since there is no way for a bookmaker to know the true probabilities for the outcome of competitions left to human effort or to predict the bets that will be attracted from others by fixed odds compiled on the basis personal view and knowledge.
With the advent of Internet and bet exchange betting, the possibility of fixed-odds arbitrage actions and Dutch books against bookmakers and exchanges has expanded significantly. Betting exchanges in particular act like a stock exchange , allowing the odds to be set in the course of trading between individual bettors, usually leading to quoted odds that are reasonably close to the "true odds.
In making a bet where the expected value is positive, one is said to be getting "the best of it". However, if someone offered odds of 10 to 1 that a card chosen at random from a regular 52 card deck would be the ace of spades, one would be getting "the worst of it" because the chance is only 1 in 52 that the ace will be chosen.
Player A wins if the dice add up to 12, of which there is only one possible case. Player B wins if the dice fall in any other combination, of which there are 35 possibilities. When making a bet in which one must put more at risk than one can win, one is laying the odds. Rational bettors will do so only if the actual chances of an adverse outcome are low enough that the expected outcome even after deduction of taxes and any transaction costs is favorable to the person placing the bet.
Laying odds is reflected in the colloquial expression "[I would] dollars to doughnuts " — with which the speaker is expressing a willingness to risk losing something of value in exchange for something worthless, because winning that bet is a certainty. Bookmakers sell bets based on the odds of a specific outcome, but lay betting allows the bettor in some English-speaking countries, the "punter" to reverse roles with the bookmaker, using odds to sell the opposite outcome to the bookmaker.
In this context, "lay" is used in the sense of "layman", i. Favoured by bookmakers in the United Kingdom and Ireland and common in horse racing , fractional odds quote the net total that will be paid out to the winning bettor relative to the stake. The term "fractional odds" is something of a misnomer, especially when visually reinforced by using a slash as opposed to, e. This fraction may be derived by subtracting 1 from the reciprocal of the chances of winning; for any odds longer than "even money," this fraction will be an improper one.
Not all fractional odds are traditionally read using the lowest common denominator. Perhaps most unusual is that odds of are read as "one-hundred-to-thirty". Fractional odds are also known as British odds, UK odds,  or, in that country, traditional odds.
Favoured in Continental Europe , Australia , New Zealand and Canada , decimal odds differ from fractional odds by taking into account that the bettor must first part with their stake to make a bet; the figure quoted, therefore, is the winning amount that would be paid out to the bettor. It is considered to be ideal for parlay betting because the odds to be paid out are simply the product of the odds for each outcome wagered on.
Decimal odds are also known as European odds , digital odds or continental odds and tend to be favoured by betting exchanges because they are the easiest to work with for trading, in this case the purchase and sale of upside and downside risk. Moneyline odds are favoured by United States bookmakers and as such are sometimes called American Odds. Moneyline refers to odds on the straight-up outcome of a game with no consideration to a point spread.
To convert fractional odds to decimal, take the fractional number, convert it to decimal by doing the division, and then add 1. For example, the 4-to-1 fractional odds shown above is the same as 5 in decimal odds, while 1-to-4 would be quoted as 1. The method for converting moneyline to decimal odds depends on whether the moneyline value is positive or negative.
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The race begins, the anticipation builds, the finish line roars and you are congratulated by your friends when you walk out with cash in your pocket. Everyone wants to be a winner, but the reality is that most of us do not fully understand the intricacies of horse racing odds. Sure, placing a bet is easy enough but that is why most race goers walk out with less money than they came in with. Are you one of them? Are you just placing bets blind and hoping for the best?
We made this guide just for you! Here we will explain and simplify horse racing odds to make betting easier. One of the surest ways people lose money on horse racing is not knowing how to bet or understanding the odds. To a beginner, all those numbers on the tote board and hearing all of the horse racing odds jargon can be pretty daunting.
Odds are simply the way prices and payouts are shown at a horse track. The numbers displayed as or tell you what you pay and how much you get back if the horse you bet on wins. The first number tells you how much you could win, the second number is the amount you bet. Odds are displayed in one of two formats. Decimal: This type of odd is recently introduced to the industry and is more commonly used in Europe.
These are displayed in the format of 5. To get your potential return, multiply the odd by your bet. If the odd is displayed at 5. These are published in either the program, racing form, or online at your sportsbook. Either at the track on the tote board or on your online sportsbook, the odds will change depending on how many people are betting on each horse in the race up until post time.
Each race has a favorite. This is the horse most likely to win. Fractional odds can easily be translated to probability percentages. Depending on the race and the rules of the racetrack, the minimum could be slightly lower. Before you even begin to place a bet, you need to know what the odds are of the particular bet you want to make. One of the reasons why horse betting is difficult is because the odds fluctuate every time a bet is placed.
This fluctuation is called pari-mutuel wagering, or pool betting. With horse racing you are betting against other betters. Once the winning horse has crossed the finish line, the house will deduct its take and the remaining amount is then divided among the people who bet on the winning horse.
Unlike with win bets, there are no exact horse racing odds for exotic bets because there are too many variables. Yet at Amwager, we post probable payouts for exacta and daily double wagers. Also for exotic wagers, the payouts are calculated differently.
Your payout is calculated by subtracting the amount of winning dollars from the total pool, then dividing the remaining pool by the amount of cash bet on the winner, and finally adding back in the winning bet amount. For easy math, we used round numbers. But in the real world, this does not always happen. Payouts use the actual odds and are rounded down to the nearest nickel or dime, depending on the rules of the racetrack. This rounding is called breakage. This is why every racetrack has television simulcast commentator who handicaps between the races as well as publishing handicapping tip sheets to help you place your bets.
At AmWager, we have our own horse racing handicapper that gives expert picks on upcoming races. Now that you know how to read and calculate horse racing odds, you are ready to take the bet! But when the day comes, it is good to know what your overall chances are in walking away a winner. Some bets have better horse racing odds than others. Here is a quick reference chart that explains your chances of winning the types of bets mentioned earlier and the expected payout. Bet Type Chances of Winning Expectations Show Very Good Modest Payouts Place Good Payouts are better than show Win Average Payouts are better than place and determined by the win odds Exacta Hard Riskier bet that can pay a little or a lot, depending on how much is wagered on each selection Trifecta Very Hard High payouts but can be expensive to play with a lot of combinations Superfecta Extremely Hard Hard to bet unless you have a sizable bankroll, but big payouts are common.
One sure way you will be tagged as an amateur is if you do not know and use horse racing odds jargon. Good luck breaking that pattern. A big concern is that racing dollars represent a zero-sum game. The money that private bookmakers take in on fixed-odds bets would theoretically come out of the handle that had been the exclusive domain of the pari-mutuel pools.
The racetracks could see their revenue reduced, unless they made the right deals with the likes of William Hill and FanDuel. Monmouth Park and the Meadowlands got into bed long ago with those two, so they may be simultaneously insulated and conflicted. Asked late last year why the U. The way takeout is split up pays for everything from purses to stable workers.
Think about the sea change it would cause. For the good it would put an end to worrying about that last click on the tote board, where too often a bet that looks like value at turns into a underlay just as the horses reach the first turn. Where private bookmakers would welcome that new revenue stream, their risk management could also leave the current racing establishment at their mercy. As it stands, tracks get an average of cents of every dollar bet.
Fixed-odds operators cutting into that monopoly could create an uncertain bottom line — and maybe a whole new challenge to replace that revenue. But the little days you open up a little bit of a can of worms. Butler said it is not just about covering expenses. It is also about policing the oddsmakers to be sure they are on the up and up.
You can see fluctuation, and you can see where the money is. It is regulated. Bookmakers in that business not only put their risk on display every day, they also have to report profits and losses that are made public en masse through state gaming commissions. Maybe that is why the legislature in Trenton cannot get its arms wrapped around whether fixed odds are just another way of saying sports betting. The devil is in those details, and they do not end at the Delaware River.
He no longer enjoyed the grandfathered acceptance of such a market in Nevada. Do you think that would have a negative impact on the rest of us? As welcome as fixed-odds markets would be for bettors, they would clearly create a whole new set of economic challenges for an industry that really does not need any more of these headaches.
Jerry Izenberg tells stories of his 70 years covering big races and other sports. There is also an archived interview with the late Paul Hornung. Monmouth Park is one racetrack that will be affected by the economics of fixed-odds horse wagering, which will be on a month trial next year in New Jersey.
Ron Flatter archive photo.
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