Re: Rebate Shops (492 Views)
Posted by:
miff (IP Logged)
Date: September 21, 2004 03:03PM
Jimbo,
What is being talked about throughtout the racing industry regarding Computer Players has nothing to do with someone figuring a way to identify a handicapping overlay,Good luck to those brave souls.
Briefly it's about a very few people having access to the entire tote poolinfo at certain tracks and being able to spread a large number of wagers(very late) on a race with a guarantee of break even or a small loss.
So, if they spread say $20k on a race and collect say $19.5k they lose $500.00 to the race.Then they receive a 10% rebate from the betting shop, equaling $2,000.00. The net result is they make $1500.00 on that play.
Remember every time this happens, you, who may have had the winning exacta on that race receives LESS money because the price was knocked down by someone who made bets with NOTHING to lose while you had everything to lose(your bet)
That is the very oversimplified version of the problem. Pastposting etc are even more profound prblems.
miff