A couple of things to clean up or make more clear what I previously posted and an anecdotal to more or less agree with what Kasept said.

If the Public Accounting Firm for Churchill Downs for example, which is Price Waterhouse (PW) has not examined the quality of Internal Controls on their IT (the Tracks) then they too need to be sued...and hugely bigly. If large wagers are going into an Oregon CAW Hub 30 seconds after a race began then down loaded into the Master Pool this is blatantly illegal. But who would know better right? Because everyone says it cant happen right? Price Waterhouse or another Independent Accounting Firm on behalf of the State Pari Mutual Board should be required to issue a report that the systems have been tested and meet the Standards of Fairness. If none of this is being done because PW says that was not within the scope of the audit engagement then we have a problem. Can anyone confirm such a Report exists?

Record Wagering amounts and Wall Street.
Race Track A
Year 1
Gross Wagering: $10
Rebates (no CAW) $0
Net Wagers: $10
Net Profits: $2

Race Track A
Year 2
Gross Wagering: $20
Rebates (CAW) $5
Net Wagers: $15
Net Profits: $3

All of the Press Releases we get tout the Gross in Year 2 of $20. But Wall Street hates that. Why? Because in Year 1 the Profit Margin was 20% and in Year 2 the Profit Margin was 15%. This decline indicated the product is being given away at a discount. But the Public Financials because of GAAP require Sales reported at Net. So in Year 2 we actually report $15 in Net Sales and Profits of $3 and walla we are back to the same 20% Profit Margin as Year 1 and everything looks great right? Wall Street isnt so stupid and neither is the Knowledgeable Public who wagered that $10 in year 1 and the same $10 in Year 2. They are getting screwed. And Wall Street isnt fooled

Fast Forward to Fountain of Youth Day. Nearly for Pletcher who looked to be favored opened at 3/5. He looked good but not that good. So someone knew something right? Well maybe not.

What if a participant in a CAW on his own had made a $15K wager early on Nearly causing him to open at these ridiculous low odds. AND as the CAW wager is about to be punched in at >1 MTP, as that wager is made the other wager is cancelled. That 4/5 shot just went to 5/2. Other odds plummet. And you thought it was all because of the new money coming in not thinking about money also being taken out. The general public has almost no chance to make a carefully measured decision with this happening. And make no mistake its happening.

This is what was being done by the individual and individuals who were charged in the "Flash Crash". Large bids were being placed on S&P 500 Contracts with the intent of them never being fulfilled. The market on these Contracts would react after they saw what someone else wanted and those Buyers would cancel their Orders now that they had moved the market how they wanted.

The Securities and Exchange Commission Act of 1933 and 1934 called this MANIPULATION. And its a Federal Crime. Who regulates this type of unscrupulous activity I described above in Racing Pools? Asking for a friend.....



Edited 1 time(s). Last edit at 05/27/2026 01:53PM by Silver Charm.