Arbitrage in the BC.

[ranger5830]

Originally Posted by saratogadew

Can you explain what you mean by " the bcbc is 20 percent of the handle". Are you saying the live money bet in the Breeders Cup Betting Challenge is 20 percent of total money wagered on Breeders cup?

When I've heard that number bandied about before it was said that the BCBC accounts for 20% of on-track handle, not all-sources handle.

[Konk]

It's like paying to get into a contest where you get a $10 bankroll and other players $2500.

Or some players at poker table get to draw twice.

If some are allowed special access, why would the average player bother to play anymore? Might as well play the lottery.

[Indian Charlie]

How is this related to arbitrage?

[Dunbar]

Originally Posted by Indian Charlie

How is this related to arbitrage?

There are multiple ways to bet a horse to win in the paramutuals, and they do not yield equivalent win odds. If you have access to last second odds with a computer ready to instantly analyze the data and make bets, you can take advantage of those differences.

[Weary]

Originally Posted by Dunbar

There are multiple ways to bet a horse to win in the paramutuals, and they do not yield equivalent win odds. If you have access to last second odds with a computer ready to instantly analyze the data and make bets, you can take advantage of those differences.

Here is an explanation of arbitrage betting from Wikipedia. Although the article focuses on obtaining odds from different bookmakers, the key concept is the same for multiple parimutuel pools.

[Indian Charlie]

Yeah, I used to do this for baseball, but I'd have to watch lines at multiple books religiously.

I did figure out a way to bet both sides in baseball games where the gain was much much higher, but there was alot of risk involved. It really wasn't arbitrage.

[ateamstupid]

The only ways to negate this--short of banning CRW outfits, which just isn't going to happen with how much handle they produce--are 1.) For exchange wagering to become the national standard or 2.) For every track and ADW to have conditional wagering options. The first remedy would likely take over a decade to implement, but the second one would be relatively easy and could be accomplished within a year. But enough people have to make a stink about this for anything to change. So far, it has mostly gone under-reported.