05-23-2012, 11:41 AM
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Flemington
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Join Date: Nov 2006
Location: Jersey
Posts: 11,438
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Quote:
Originally Posted by hailrazer
You have a sure thing at a small track. You got $150,000 to bet on him. Bet him on the nose and you win $15,000. Nice score but not what your hoping for on a sure thing.
Instead, you bet $9,000 on him early to drive his odds down. No one doubts he will win, but few bet him at short price. Bet $15,000 late on all other horses in the field to basically make every horse in the field 9-2 or 5-1 price range. You are in for $100,000. If your horse wins, you get back about half of what you bet into parimutuel pool. If he loses, you get back about 80% of that pool.
That leaves you $50,000 to throw at every off-shore and bookie you can come up with to try to win $250,000. If you can collect from them all, you clear $200,000 instead of $15,000. Lots of work and risk, but for $185,000 difference, I can see it.....
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Felix Unger talking to Oscar Madison: "Your horse could finish third by 20 lengths and they still pay you? And you have been losing money for all these years?!"
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