Interesting Robotic Wagering discussion started by Frank Angst

[Dunbar]

Originally Posted by Kasept

Why and for what? What about when these algorithms miss and exactas overpay?

What do you mean by "overpay". If you mean that the exacta pays more than the last projected payout, okay. But if you mean the bettor is getting some kind of windfall, then no. Just because the CRW "misses" doesn't mean the payout becomes an overlay. More likely, the winning bet was still an underlay.

Originally Posted by Kasept

The CRW is in it for the rebate and are only looking to stay close to breakeven. Who says their money in the pools isn't a net gain?

It may or may not be a net gain for the track. But it's definitely a net loss for the average bettor. This quote from Tampa Bay Downs's manager in your Scott Jagow link sums it up accurately:

"Effectively what happens when you have these high-volume outfits and they win more than the norm, you're effectively raising your takeout on the rest of the players in your pools. And that's just not good business.”

If takeout is 18% and some group or groups with a bet-timing advantage can breakeven while making up 1/3 of the pool, then the rest of the bettors will be losing at a combined rate of 27%.

Originally Posted by Kasept

The takeout question is a separate issue within this discussion as is the access the CRW has to interject at the last second. The unknown is what is the potential positive impact of the CRW money out of the pools might be and would their exit (exclusion) help trim takeout rates to bring bettors to the table?

There's a LOT of moving parts to this.

Agree. But as far as computer access to the pool info and the ability to bet after all non-computer bettors, a CRW seems to have patently unfair advantages.