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Originally Posted by Dunbar
The clearest proof of dumb money comes in each Kentucky Derby Future Pool. There are always a few horses that are going to run before the pool closes. And there is always some money bet on those horses BEFORE they run their races.
Watch next week when NoBiz, AGS, et al, will draw plenty of money before the Wood is even run. These same bettors could wait to bet until Sunday, and they'd have a ton more info on their horses, but nooooooo.
--Dunbar
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I agree. If I were to bet them, and I've only bet them once, and that was on Monarchos, I'd bet the final pool in the final hour of wagering. Otherwise, I look at it as a crackhead bet. And very much so, if one puts serious money in the 1st and 2nd pools.
The majority of the dumb money has left this sport, moving on to other interests that do not require thought, such as slots, etc. We do still have one bountiful afternoon of it though--and that's Derby day. The only afternoon that the nation generally watches and throws money, in large amounts, into the wagering pools. And often, their betting is fueled by their alcohol consumption.
So, to that end, have another mint julep on me.
There's more where the last one came from. Fatten the pools for all of us here and elsewhere that having been watching all year.