It has been an established institution for a long time and was sold to bettors as a good deal, but is pari mutuel wagering really as good as it appears and could there be a better way for horse players to wager on horse racing? Who really benefits?
As you are probably aware, pari mutuel wagering is done by putting all the bets of a certain type into one pool and then taking out a share for the race track, a share for the state and municipalities, and finally, dividing the rest among the winners of that particular wager. On the surface it appears to be the fairest way to handle the millions of dollars that are wagered each year at any particular race track.
Horse racing handicapping is one of the toughest ways of making a living as a gambler. There are several reasons for that, including the nature of the game with so many variables, but then again, there is also the problem of operating in the dark and not knowing what you are buying. Gamblers in any other venue would not put up with it.
A good blackjack player knows what the odds are of hitting a 21 on any hand and he also knows what the payoff is for his bet. The wise slots player may not know the actual odds of winning on any one machine in the casino but she does know the payout percentage for the machines overall. Even the lottery player knows the odds of winning and what the jackpot is and craps players know the payoffs and odds before they roll the dice.
No comments:
Post a Comment