Ranger is right, it was 20% at Santa Anita when it was only an on-track contest. Last year they expanded it to a few other sites, AQU was one. This year it is expanded even more to on-line participation. However, the BCBC people should have a definite number on the handle, if they release it. I don't see why they shouldn't.
That is not the issue that can hurt horseplayers. The BCBC handle only helps pools. I'm concerned with the large volume outfits that get substantial rebates and are allowed access (data) from pools we can't even see. We get a display of EX and DD payoffs, but can't see what a Pick 3 will pay before the first leg. This info is available, in digital form, to certain groups and from there they can run programs (algorithms) on the data which looks for under played combinations. All done without human intervention. These same access connections make it possible for these groups to make a large variety of wagers into multiple pools in seconds. The rectifying of these bets result in the changing odds and payouts during the running of a race.
An EX has a payout of $58.00 on all the boards before the race. One horse is 5-2 and the other 5-1. They run 1-2 and the EX comes back $38.00 and the winner ends up 3-2 and the 2nd horse 5-2.
Nobody picked those horses, the program identified anomalies in the pools, all of them (DD, Pick 3, Pick 4,5,6 TRI) and made bets based on discrepancies. In a Belmont Race that handled $1 million, up to $200,000 of the bets were made this way. Most in the last 2 minutes.
Plus, due to volume, these groups are rebated up to 10% of their wagers. We have to combat a takeout of 15% to 25%, take 10% off that.
Most of these groups look for at least a 1% return. Doesn't sound like much, but they are getting big volume rebates and making high volume wagers.
It's a can of worms and I think it can have a horrible effect on racing. Remember 10 years ago we could hit a bet that surprised us and paid more than we thought it would. Not anymore.Usually the surprise is it pays 1/2 of what you hoped.
The impact is that it will take the average bettor out eventually. The wins can't cover the losses and it makes the game almost a sure loser for the average person. You finally get to a point and say "Screw this, I have no chance".
Why have you seen handle go up ? Why did you see Keenland raise takeout when regular people objected ? Why did they not even acknowledge it ?
This will shrink racing, not grow it. Biggest threat to the racing game. Tracks run on handle. They don't care it if comes from you or I or a computer.
If we love the game and the sport, we have to thing about this.
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