Re: Computer-Robotic Wagering (1059 Views)
Posted by:
TempletonPeck (IP Logged)
Date: November 19, 2015 01:07AM
2 points here:
1) CRW's are very likely the ones crippling the payoffs
2) they're getting X% rebate, so they are making money breaking even, or even losing. In other words, they aren't concerned with making the best possible bets, they're concerned with making the most money. For them, it's entirely possible that means betting more and more money until the bet is unprofitable.
This is something that I think the once-a-month gambler/player doesn't realize: these guys aren't betting a couple twenty's, or even a couple grand - they're betting literally as much as the pools will hold, every day, on every race they can find at any track where the pools are big enough. They are doing calculations like this: is it better to bet $100mm/year and lose 0.5% or bet $120mm/year and lose 0.6%?