Re: Good for the NYRA!! (634 Views)
Posted by:
miff (IP Logged)
Date: June 16, 2006 09:59AM
Boxcar,
What I know for certain with the skim is that:
1.It only worked in large wagering pools. I understand that in 2003 at the entire SPA meet the computer made something like 75 thousand wagers in the exacta and tri pools but only half of that amount during the entire fall Belmont meet.
2.There are only certain races where the opportunity to make an overall profit presents itself,not every race.The rebate was of paramount importance in this instance.
3.Handicapping had very little, if anything, to do with this particular program but maybe there were tosses. I do not have every exact detail.The guy had $100k when he started and researched this for one year before pulling the trigger.
4.The guy who used it for 3 years made $1.2 million in profits on overall wagers of app $35million, app3.5% net net.The guy is out of business.
5.There was NOTHING illegal about what he did making the bets.
I have heard of several other variations, computer software, that is out there which involves more of a handicapping thing(as you stated)
I am as concerned about this as performance enhancing drugs. Who knows what the next genius geek will come up if allowed access to realtime betting pool info.
Mike
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