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Server Time: 8/30/2008 12:24:21 AM PACIFIC |
 TKarrde and vig, Big_Slick, 17. Jul 2003 10:40 | ||
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| Had to start a new thread... the old thread was full. Do you ever bet the ponies? There is no vig. It's not like betting basketball where you are getting/giving points and getting 10:11 Yes, I do play the ponies and I hate to break it to ya, but vig exists in horse racing as well. It depends on the track, but they take a percentage of every dollar wagered. How do you think they pay for the purses and operating expenses and still make a profit? That 10:1 long shot really isn't 10:1. Probably closer to 11:1. As with any "sporting" event wager, you will be charged the customary 10% for your bet on beigs. That is how they make their money. There is no free ride when it comes to any form of gambling. The house always has the advantage. That advantage is with the vig. If you wanted to bet $100 that beigs was going to win the tourney, you'd be charged $110 for your 6:1 wager. | ||
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| Re: TKarrde and vig, TKarrde, 17. Jul 2003 10:48 | ||
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| Ok. We ARE on the same page. I was saying that if I put you at 6:1 that really you are probably a 7:1 favorite. So if you are 6:1 you SHOULD NOT be expected to win one out of every 7 races. > > Yes, I do play the ponies and I hate to break it to ya, but vig exists in horse > racing as well. It depends on the track, but they take a percentage of every > dollar wagered. How do you think they pay for the purses and operating expenses > and still make a profit? That 10:1 long shot really isn't 10:1. Probably closer > to 11:1. > TKarrde "The next best thing to playing and winning, is playing and losing." | ||
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| Re: TKarrde and vig, johnph77, 17. Jul 2003 22:45 | ||
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| Not only is there vig in the form of track expenses, but the state and/or other jurisdictions where the facility is located have their pockets to fill as well. Years ago there were tracks who could guarantee you an 85% payout but taxes have risen substantially since then. There is no form of pari-mutuel betting where a gambler has a long-term advantage over the house. | ||
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