JC / Railbird

Tote Improvements

Last-minute late odds drops may be less of a frustration for horseplayers by late 2012, when the TRPB plans to fully implement a new tote security system that will make it possible for racetracks to display real-time decimal odds. Frank Angst explains in the Thoroughbred Times:

The decimal odds would allow a horse that is 2.60-to-1 to actually be listed as 2.60-to-1. Currently, a horse that is 2.60-to-1 is listed as 5-to-2. If that horse’s odds fall to 2.40-to-1, it currently is listed as 2-to-1, which creates the perception of a more dramatic odds change that what actually occurred. The system initially will focus on win odds but plans would allow for the eventual addition of other pools.

According to the press release sent out by the TRA on Tuesday, the new system will also include a standardized stop-betting process — which should help end the sort of past-posting incidents handicapper Mike Maloney has publicized, such as this one at the Fair Grounds, or this one at Hollywood Park.

1/10/11 Addendum: If only such a system were already in place. Then, the odd betting that manifested in Sunday’s sixth race at Santa Anita might not be so mysterious. PTP speculates that one bettor may have been responsible.

1 Comment

Mr. Angst wrote:

For bettors, the system will allow participating tracks to include real-time decimal odds that would be updated every two seconds in their video display to customers. The decimal odds would allow a horse that is 2.60-to-1 to actually be listed as 2.60-to-1


I applaud the initiative but I remain skeptical this is going to improve “perception” among the wagering public.

If we’re going to be that precise,
why not display the actual odds to the 1/100ths?
Perhaps 2.69 to 1.

That way we can see how much “Breakage” is being quietly siphoned out of the bettors hands.

The 2.69 odds winner should pay $10.76 for a $2 wager.
Heaven help us if mutuel clerks cannot count to the precise penny instead paying out only $10.60.

Posted by The_Knight_Sky on January 5, 2011 @ 9:06 am