Quote:
Originally Posted by DonGuido
NJ: for us older and very slow learner, players of very elder years, please explain "back wheel" . . . I'm not afraid to say I have no idea what the helk you are talking about . . . and give us all an example please!
Thanks,
DG
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Don, I'll try to answer your question before it gets buried.
NJ seems to be employing a very intelligent money management tool to increase his chances of profit.
He has already locked in his price on the future bets if any of his picks win. I don't know what his odds are, but suspect they are very generous. By "backwheeling" in the exacta, he is trying to create a situation in which he profits if any of his picks finish either 1st or 2nd. He does this by playing an exacta that is ALL/ Practical Joke and another that is ALL/ Looking At Lee. If Royal Mo draws in he will do the same with him. Since each of those horses will be going off at generous odds, presumably the exacta with any of them underneath will also be generous. Also, NJ will have the opportunity to look at the exacta "will pays" to figure out just how much he needs to bet in his exactas to cover the amount he has already invested in the future pools.
Now, if the exacta comes in Practical Joke/Looking At Lee or vice versa, NJ will be a very happy handicapper since he will have cashed both his future win bet and a VERY nice exacta.
Good luck to you NJ. I'm probably going a different route, but like your style of money management. Not unlike an arbitrage play in the stock market.
NJ, if I have not described what you meant by your "backwheel" reference, please correct me.