U.S. Horse Racing
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http://onlinepokerreport.com/5117/sports-betting-arrests-link-cantor-gaming-exec-to-pinnaclesports-com/
last paragraph - anyone notice odd patterns?
last paragraph - anyone notice odd patterns?
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Replies: 9
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Yes.What I have seen at penn is a very large bet say $9000 been placed in the pool on a horse.
It obviously goes 1/9.On here in will be layed heavily at say 2.5 i.e 6/4.The money goes in the pool early. Near the off the $9000 is cancelled from the pool and the odds oviously go out in the pools to say 12/1 and drift on here to say 9/1. It appears to be a manipulated market but who knows.Penn national and charles town ome strange betting patterns and horse going very slow at short prices from the gate.I wasnt happy with the drift and ride of the 2 stephanies forest in the 3rd at penn.If you watch the replay you will see. |
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How can 9000 placed in the pool.be cancelled near the off.or cancelled at anytime,after the bet is placed.
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Because if you live stateside it's allowed.You just have to tell the tellar you made a mistake.
Simple as that. |
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lancia 26 Oct 12 02:08
How can 9000 placed in the pool.be cancelled near the off.or cancelled at anytime,after the bet is placed. What pmbets is saying is true but not totally accurate, nor does it explain the problem. Cancellations of earlier wagers are indeed allowed in the US, right up to the off, WITHOUT an explanation required at all, BUT if the cancelled wager EXCEEDS $200 in the straight wager pools (win/place/show) special forms need to be filled out and signed by the bettor requesting the cancellation, immediately after the wager is cancelled. This is to supposedly prevent bettors for manipulating the odds, and to discourage repeat offenders. Or at least to maintain the facade that the authorities are vigilant in trying to prevent this sort of activity. This is NOT where the problem lies. It is not bettors that make their wagers through the teller windows at the venue that do this. It it those who have DIRECT access to the tote, something which the US authorities very rarely publicize because of the predictable fallout and outrage of the general betting public. The playing field is not level. Those betting syndicates who have direct access to the tote can place and remove wagers (up to the off) at will. And typically the "cancelled" wagers are NOT removed all at once as the posters on here have suggested but rather in smaller tranches cleverly timed to coincide with the tote updates and money coming into the tote from various wagering hubs as time counts down to the off. It's all done automatically, with preprogrammed high frequency trading computers (similar to what you'd find front running the markets on the equity markets). These same folks are also the market makers on betting exchanges. It all ties together rather nicely for big fat profits. This sort of think is rampant in US racing but it becomes more apparent/visible in the smaller handle venues like Penn. The race tracks and regulators are turning a blind eye because this activity provides liquidity and increases tote traffic especially at the smaller handle venues, which results in a higher takeout and revenues for the tracks. As always, money talks and the small fish are fed to the sharks. Be careful, it's a tough world out there  |
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Great post Menelaus. Thanks for taking the time to share that info.
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Used to happen quite often at Turf Paradise when the track was first covered in the UK.
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thanks guys.you live and learn.
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Menelaus - once again a tremendous and well researched post from yourself. Welcome back
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I've said on numerous ocassions that you can identify the betting patterns at certain tracks were this tyoe of behaviour occurs. You don't need to study form to make money on the US racing.
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