I know many handicappers who take advantage of the future wagers. Last year, one had 100 to win on Any Given Saturday at 40-1. With that wager, he was completely able to avoid using AGS in the race. It's a great way to hedge.
Certainly picking a race 9 months from now is difficult, but that's why you're getting some great prices. Curlin @ 2-1... terrible. But for a horse like Pyro, at 50-1, if he developes and does well, he could be 8-1 in the actual gate.
If you can find 10 horses at average odds of 50-1, and plunk $10 to win on each, you're spending $100, but if one of those horses wins, you get $500. That's not terrible. If 4 of those 10 make the gate at the BC, that's 4 less horses you have to place wagers on.
I don't think future wagers are the craziest thing out there. Slots machines, roulette etc... now that's crazy.
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