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The morning line odds set by the racebook to begin race day are simply estimates of what the final odds will be, but in reality the morning line odds have no influence on the true odds of the race. All bets placed on the race go into various pools of bets. The odds shown by the racebook indicate the current odds. In the examples above I did not take into account the percentage of the bets that the house takes as commission.
The odds for each horse are actually calculated after the house-take is removed. Be contrarian. Consider a horse race with 8 runners. This is a common thing with parimutuel betting and is the reason why it is smartest to place your bets closer to the starting of the race. That being said money that is in earlier is usually sucker money because the professional gamblers will wait until the last second to have as much information as possible on the race prior to placing their wagers.
Parimutuel betting is legal many places where fixed-odds betting is not because you are essentially betting against other gamblers rather than the sportsbook. The bookie just takes some juice off the top of the betting pool and thus the bookie always profits no matter what happens in the race. I hope you now understand parimutuel betting and use this knowledge to your advantage next time you are at the race track.
Example Here is an example to show how your payout can change even after you placed your bet at certain odds. Legality Parimutuel betting is legal many places where fixed-odds betting is not because you are essentially betting against other gamblers rather than the sportsbook.
Of course, with experience, you can become better at reading these predictions and figuring out how likely they are to be close to the final odds. As mentioned, this is more of a strategy for betting fans but you could still use it in a casino in certain circumstances. One example where this could be useful is roulette, which is one of the more popular table games around. However, you might be able to get a group of players together and set up your own Parimutuel pool for a certain number of spins.
This could work very well online, where you have access to all the stats you need. At the end of the day, this may not be one of those gambling strategies you absolutely must know but having some basic knowledge about it definitely helps.
You never know when an opportunity might present itself where this knowledge could come in handy. Skip to content. Menu Home. Bettors usually make multiple wagers on exotic bets. A box consists of a multiple wager in which bettors bet all possible combinations of a group of horses in the same race. A key involves making a multiple wager with a single horse in one race bet in one position with all possible combinations of other selected horses in a single race.
A wheel consists of betting all horses in one race of a bet involving two or more races. For example, a 1-all daily double wheel bets the 1-horse in the first race with every horse in the second. People making straight bets commonly employ the strategy of an "each way" bet. Here the bettor picks a horse and bets it will win, and makes an additional bet that it will show, so that theoretically if the horse runs third it will at least pay back the two bets.
The Canadian and American equivalent is the bet across short for across the board : the bettor bets equal sums on the horse to win, place, and show. A parlay , accumulator or roll-up consists of a series of bets in which bettors stake the winnings from one race on the next in order until either the bettor loses or the series completes successfully.
In Australia, certain exotic bet types can be laid as "flexi" bets. If the bet is successful, the bettor will get either the full winning amount shown on the board, or half the winning amount. Under a flexi system the bettor can nominate their desired total wager, and their percentage of payout is determined by this wager's relationship to the full unit price. If the bet is successful, the payout will be In recent times the "Roving Banker" variant for Trifecta and First4 betting is now offered.
For a Roving Banker First4 the player selects one, two or three runners they believe will definitely finish 1st, 2nd, 3rd or 4th, and up to three selections as Roving Banker s with other runners to fill the remaining place s. A Roving Banker Trifecta is where the player believes that one or two runners will definitely finish 1st, 2nd or 3rd.
The bet can be placed by picking the player's favourite runner to finish in any place within the bet and complete the Trifecta with any number of other runners to fill the other placing s. Exotic wagers are usually made on horses running at the same track on the same program. In the United Kingdom , bookmakers also offer exotic wagers on horses at different tracks.
Probably the Yankee occurs most commonly: in this the bettor tries to pick the winner of four races. This bet also includes subsidiary wagers on smaller combinations of the chosen horses; for example, if only two of the four horses win, the bettor still collects for their double. A Trixie requires trying to pick three winners, and a Canadian or Super Yankee trying to pick five; these also include subsidiary bets.
There are also other bets which are large combinations of singles, doubles, trebles and accumulators some of them are called Lucky 15, Lucky 31, Heinz, Super Heinz, Goliath. The term nap identifies the best bet of the day. From Wikipedia, the free encyclopedia.
Betting system in which all bets of a particular type are placed together in a pool. See also: Glossary of North American horse racing. See also: Glossary of Australian and New Zealand punting. See also: Glossary of bets offered by UK bookmakers. Retrieved 11 July Hong Kong Jockey Club.
Retrieved Japan Racing Association. Retrieved 20 May Archived from the original on Retrieved 18 December Categories : Sports betting Horse racing Greyhound racing introductions.
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