AHHHHHH! THE SAME BET AS ME!

Hedge? I was serious. I have seen him do it.

They don't bet to place, and they surely don't bet to show. (The elderly blue hair ladies at the track bet to show.)

The bet, in this instance, as quoted I believe was $50w/p on one's longshot. Let's say, you bet your longshot in a straight exacta to run second behind the chalk. $100.00 straight exacta bet, not changing the amount of money wagered. This is difficult for many, but one has a really nice exacta many times. In the case of your $50 place money coming in, its paltry next to the exacta, and one doesn't have to hit many of these to make up for their longshot running second.

Last year's Ky Oaks day.

Got to CD with about 8 MTP for the 5th with the intention of playing the P6, got shut out because the teller was incompetent and had to start over and they opened the gates while we were trying again.

Needless to say... it would have been the only winning ticket for about $180k.

Thankfully, all wasn't lost... the P4 still paid a healthy $7.5k.

I was grooming Itsallgreektome when he was a 3yo making his grass debut in the Will Rogers on Ky Derby Day 1990. He was 30-1 ml and i was playing the huge carryover 1mill and singling him on a $488 tik with a buddy of mine. Needless to say he backed out on my tik and i ended up shortening my tik. After Greek won at 50-1 i was alive to the 4th leg but missed on a horse i removed. The last leg won and i got 5 out of 6 for like 3k x3... Nobody hit the 6 that day..I made out good with the conso's, but that day haunts me...

Pardon my naivete, but you know, the entire concept of not betting place as opposed to playing the exacta makes sense, conceptually, to me. However, often, for me, not having as much conviction and not being as confident in the exacta selection causes me to make the place bet instead of the exacta. Simpy put, I might be more confident in being able to pick a horse for place (one correct selection vis a vis the bet, who can run first or second) vs. betting the exacta (requiring me to select two correct selections vis a vis the bet, where they have to finish 1-2). I am not sure if that's correct or makes sense to most of the serious players here, but that is kind of my gut feeling.

Does that make any sense or am I being a whimp here?

Also, doesn't the relative size of the bet, risk/reward also play a role? Meaning if I am looking at $100 place (maybe as a hedge), am I also looking at a $100 exacta? Not really, right?

Thanks for the advice.

Eric

ELA, I'm sorry I didn't come back to your question sooner.

You're right this is not a bet for everyone. Nor is it a matter of being a wimp. This, to the casual player, takes a whole lotta guts. On the other hand, for the pro, (and I'm not) this is common play, as they don't bet to place, ever. In this case, no, you don't make a place bet at all. Instead, you play, YOUR horse, straight, underneath the postime public choice for $100.

There are many occasions that this bet is not feasible, as there is no clear cut public choice at postime.

This is nuts. The whole basic problem with your strategy is that you assume the favorite will win if your longshot runs second. Huh, you are betting a lonshot b/c you think the favorite is vulnerable. So your favorite runs off the board, boosting the place price and you get nothing to show for it b/c that's the only horse you used on top. That is not how to use an exacta as a hedge.

Don't assume... you know what they say about assume "it makes an ass out of U and ME."

There's no whole basic problem with my strategy. Possibly go back and read what I wrote to ELA.

I am believing the chalk will outrun the longshot, as that is usually the result, day in, day out. That is why I put my longshot choice under the chalk on a straight exacta bet.

I've not said anything about the favorite being vulnerable. Not a word. And to box, as I stated as an option, that is not suitable to betting them straight, for $100.

The discussion was about place betting, and regarding longshot play.

I read your posts, I know where you stand. You are clear. And I said nothing about boxing an exacta. You believe that the right play is to put the favorite on top of the longshot rather than betting that horse to place. I get it. It makes zero sense, but go right ahead.

RS, go and take a look at today's result in Gulfstream's 6th race. The longshot ran second, behind the chalk. The chalk's odds were 1.50/1, the longshot's, 18.40/1. The $1. exacta paid $22.50. The place on the longshot paid $12.40 for $2.

Ok, you tell me which is gonna net you more, that $22.50 exacta played straight? Or that $12.40 place ticket? Now keep in mind too, you also lost the $50. you bet on him to win.

I'm not sure I would suggest blindly using the favorite on top ONLY, but I once learned a valuable lesson from one of the game's greatest bettors. If you like a horse who's a big price, and your not thrilled with the favorite, but the exacta with the favorite on top of your horse is paying around $40, you must use that favorite on top for a significant portion of your play, as the favorite isn't whatever short price he is, but the key to $40 if your pick is good.

You just don't get it. 9th Race on Sunday at GP, the place horse was 15-1 and ran second to a 9-1 shot. Instead of getting nothing back, you would've tripled your initial investment with a win/place bet(12.80). If you had done it your way you get nothing....If the favorite wins at a 30% clip on average you will lose over time. You can cite whatever race you want, and I'll find 4 that show that using a simple exacta with a favorite or a wheel for that matter is dumb.

I was 5 for 5 in that huge Fairplex pick six in 2006 and had two horses in the last leg and ran 2nd and 3rd, lost to a horse that I mentioned and to a Los Al rider I have made a killing on wagering. Cost me, another $128 and I have 70k

And I will see far less 15/1 with 9/1 exactas, than I'll see 1/1 (or 2/1) with 18/1 exactas.

No, I do see. And I'm talking over time. And the person that taught me this has been betting on horses for over 45 years, and I figure he knows far more.

Yes, if instant gratification isn't your thing, this is definitely the way it is taught.

And no Andy, not blindly, as I said before, there are many occasions that there is no clear favorite.