California Horse Racing Board approves exchange-wagering

DiscreetCatDiscreetCat Moderator
edited November 2012 in Horse Racing Forum
It was just a formailty considering that Betfair owns Hollywood Park, i guess, but big news nonetheless. They're talking about implementing it during the latter half of next year....

http://www.bloodhorse.com/horse-racing/articles/74500/chrb-approves-exchange-wagering

Comments

  • dirtyshirtdirtyshirt Senior Member
    edited November 2012
    Get ready to get rich.
  • thebox138thebox138 Senior Member
    edited November 2012
    don't really know to much about exchange wagering can someone explain exactly what it entails
    thanks
  • dirtyshirtdirtyshirt Senior Member
    edited November 2012
    thebox138 wrote: »
    don't really know to much about exchange wagering can someone explain exactly what it entails
    thanks

    My point exactly.


    Anyways, box, it entails being able to buy and sell horses at a fixed price. It creates a situation where you can offer a better price than available on the tote, and another player will buy at that fixed price. It's great for maidens and fucked up ML's.
  • fbwinnersfbwinners Senior Member
    edited November 2012
    Will this be allowed at OTB and other race tracks in the US?? Or just at Cali onsite tracks and OTB's????
  • FlyinLateFlyinLate Senior Member
    edited November 2012
    fbwinners wrote: »
    Will this be allowed at OTB and other race tracks in the US?? Or just at Cali onsite tracks and OTB's????

    I was going to ask this very question.
  • dirtyshirtdirtyshirt Senior Member
    edited November 2012
    fbwinners wrote: »
    Will this be allowed at OTB and other race tracks in the US?? Or just at Cali onsite tracks and OTB's????

    My understanding is California only.

    But, you can just set-up a TVG account in California and login anywhere IMO. I (had a friend who) did it when I (he) was living in Nashville.
  • dirtyshirtdirtyshirt Senior Member
    edited November 2012
    The Stronach Group, owner of Santa Anita Park and Golden Gate Fields, has opposed exchange wagering because of integrity concerns and a model it says does not return enough money to tracks and horsemen, especially considering the potential to poach pari-mutuel handle. Del Mar and Betfair Hollywood Park officials have expressed interest in offering exchange wagering.

    He's the only one willing to invest enough to fight this off. Betfair is already 10 million dollars deep in fees and lobbying to get this done.
  • KeenRacingKeenRacing Junior Member
    edited November 2012
    Can someone give a layman's example of how this might work?

    I like Horse A and he's on the tote at 3-1. I also really dislike Horse B, and he's favored at 2-1.

    Thanks...
  • DiscreetCatDiscreetCat Moderator
    edited November 2012
    Well, on Horse A you might find someone offering you better than 3/1.

    On Horse B, you could offer someone 5/2, for instance.
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