Wagering on a horse to lose in California? You bet!
Ron Dicker
Sep 2nd 2010 at 4:00PMText SizeAAAFiled under: Extracurriculars, In the News

Finally, a horse bet I can win: betting on a horse to lose.

Sound crazier than California? Well, California lawmakers have approved it, and it's now awaiting Gov. Arnold Schwarzenegger's signature. Here's how it would work: You would act as bookmaker, setting odds and accepting bets. If the horse doesn't win, you keep the bettors' money, minus a percentage charged by the state-sponsored venue. And it's all legal!

Finally, a chance to make up for every wager I made on that pedigreed favorite who faded like a lame nag, or that longshot that showed why it was a longshot.

We all know how to bet on losers right? I've been doing it ever since cutting high school in suburban Los Angeles to spend the afternoon at Hollywood Park. Now I'm going to get rich. Heck, I might even accrue enough money to buy my own Thoroughbred.
I've also harbored fantasies of being a bookie, minus the leg-breaking. I'd look good in a visor while chewing on a week-old
cigar. In-hock pony players everywhere should chomp at the bit for this chance.

Not so fast, warns Jay Privman, the national correspondent for the Daily Racing Form. Taking bets on odds that you set so
they'll be attractive to other bettors is far from a sure thing.

"You have to have the knowledge," he told WalletPop. "This isn't something for neophytes to jump into. You better make sure you have handicapping skills. Booking action based on a name isn't going to cut it. There are sharp people looking to exploit inefficient prices, just like the stock market. You don't want to be a guppy in those waters."

The proposal is part of a larger bill, originally written by state Assembly Speaker John Perez (D-Los Angeles), to provide a shot in the hind quarters for the Golden State's slumping horse-racing game


See full article from WalletPop: http://srph.it/bOlB4w

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"That's what the internet is for. Slandering others anonymously." Banky
“Been that way since one monkey looked at the sun and told the other monkey ‘He said for you to give me your fuckin’ share.’”

Nothing to do with this story, and I'm no horse handicapper, but Mike Oosting had another 4-bagger this past Sunday at Balmoral. 4/11 races. Pretty good odds of him winning I'd say.

I've never bet while working there, but if I had to go with someone, I'd look for him in one of the races.

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-"God is great. Beer is good. And People are crazy!"