Is it BS that horse race payoffs are based on the odds at race time and not when the ticket is bought? Explain

Question

That penalizes bettors who took the time to place the wager when the odds were good. When the public bets the odds down, the early bird bettor gets screwed! TISNF!

Answer 1

Nobody said life was fair! That's the way paramutual betting works. After all, the race track is in the business of making money.

Answer 2

that's the way it is...take it or leave it.....

Answer 3

If you're betting on any kind of Tote or Parimutual system then yes you're correct. You're best to place your bets with a bookmaker or on a betting exchange and then you'll know exactly what price you're getting for your cash.

You can learn more at:

http://www.OnlineBettingExposed.com

Answer 4

Of course not. Then you could be the first to bet and have the lowest odds. Mathematically it is only fair to wait until all the money is in to divvy up...otherwise there aint enough money to go around at the end. Just wait until the last two minutes and put your bet in and you will know the odds.

Answer 5

*smacks self in head for knowing what TISNF means*

I agree.  Changing the odds of a bet after the money is payed seems paramount to changing a product after it has been bought.  I wouldn't stand for a car dealership taking the tires off my new car and replacing them with worse ones after I already bought it.  That would be ridiculous.  This is so not fair.

Answer 6

in england you can request odds at the time of placing the bet . but its a gamble because the odds might drift or shorten . i once placed a bet and took odds of 16/1 but at the time of the race it was only 9/2 and it won but i got the 16/1 at the time of placing the bet

Answer 7

Its the simple laws of supply and demand. If it was a case of first come, first served, you would have long queues out the front of OTBs waiting for the doors to open every day.

I am sure you would not complain if a you bet on a horse in the morning and it was paying $8 and when it wins in the afternoon it pays $12. It goes both ways.

Bet with a bookmaker or a betting exchange and you can get your payout guaranteed, regardless of the forces of supply and demand.

Answer 8

that is how it works sorry i wish not