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#2
06-23-2011, 07:03 PM
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Fun article, the only part worth highlighting
He would find the parimutuel system a serious curb on his fortunes. Bookmakers generally kept a cut of 5 percent; the slice today is on the order of 15-25 percent. He was selective, but he plunged when the odds were in his favor; in a parimutuel system his money would come back against him, his odds cut to the bone. 
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