Overcoming the Vig is the Secret to Making Money on Horse Racing Bets

The vig, short for vigorish, is the amount of money taken out of the pools at the track before the winners are paid. For instance, if the bettors wager a total of $10,000 to win in a race, there is a total of $10,000 in the win pool. However, when the race is over and the winners are paid, $10,000 isn’t the amount that gets distributed amongst the winners. It is far less because the track has to take out a certain amount that is determined by the state. That’s the vig.

Part of the money that is taken out is paid to the state and the rest is the track’s share. So let’s say that the vig is 18% and there is $10,000 in the pool. After the race you would expect $8,200 to be distributed among the winners, right? Sorry, it’s not that easy. You see, there is also breakage. What get’s broken and how come you have to pay for it? Why doesn’t the clumsy oaf who dropped it or sat on it and broke it pay for it?

No, no, breakage doesn’t mean something actually got broke, it means that race tracks pay out in nickels and dimes, not pennies, so they get to round a bet down to the nearest nickel or dime. For instance, if a bet would normally pay $6.55, the race track gets to keep the nickel and you get $6.50. Talk about being nickel and dimed!

That breakage may not seem like much, but if you bet $100 and would receive $4.05 for every two dollars bet, but instead receive $4.00, you’ve just donated $2.50 to the track so their tellers don’t have to deal with handling pennies. That’s another 2.5% out of your winnings, too. That $2.50 can really add up after a while, especially if you are trying to make a living by betting on the horse races.

As if overcoming the vig isn’t bad enough, there are other expenses involved in horse racing wagering. On the last day of January I decided to go the horse races. I wasn’t interested in the races at Santa Anita, so I decided to play the simulcasts from Golden Gate Fields. I figured I’d go to Hollywood Park since they didn’t have live racing there and it figured to be much less crowded.

However, what I didn’t take into account was the fact that it was dollar day at Santa Anita so I could have gotten in for $1. When I got to Hollywood, they charged me $7 just for the privilege of going in and watching and wagering on simulcast races. Seven bucks right off the top before I even made a bet or bought a hot dog.

It is at times like these that I ask myself why I don’t just go gamble in a casino where I can park and enter for free and also get a free meal after I’ve gambled for a few hours. $7 to bet on simulcast races? Then they have the nerve to complain because attendance at the races is declining. Gee I can’t figure out why, can you? The last time I went to Santa Anita, I had to pay to park, pay to get in, pay for a racing form. By the time I was done I had invested a small fortune and hadn’t even made a bet.

With all the ways there are to gamble or be entertained now, you would think the tracks would get a clue and start to help us horse players out. As money gets tighter, and it is, the tracks are really going to have to start being creative. Horse players can sit in their own homes now and play the races over the internet. While some of those services do charge you to deposit money, another sore subject with me, at least you are at home and not paying to get into a race track that isn’t even offering live racing.

Well enough of the ranting and raving, I think you get the idea and I hope the race tracks do, too. I’d hate to see racing fade any more than it already has but if it does, it will be because management dove it into the ground. They have a thrilling, live drama, that people can bet on and take part in as gamblers. It is a great product but they can ruin it if they don’t start trying to offer more to the players.

Back to the vig. My expenses for the day were the gas I put in my car to get to the track, the $7 I paid for the privilege of entering the track, the past performances I bought so I could handicap the races, the food I bought while I was at the track. By the time I was done, my expenses were $20. Add that to the breakage and vig and you can see that I would have to make some very good bets that paid well in order to make a profit that made a day of handicapping and travel worthwhile.

That is what you are up against if you are trying to make a profit from betting on horse races, so here is some advice. Cut your costs as much as you possibly can. Get the deals online for past performances. Place your wagers through whatever venue is legally available to you and watch all those incidental expenses that eat away your profit.

It is possible to make money from betting on horse races, but there will always be people who are trying to take as much of it away from you as they possibly can and the first ones standing in that line are the tracks themselves.

Enjoy your days at the races.

The Truth Behind The Limits – What Minimum and Maximum Bets Are About

Have you ever thought about the reason behind the existence of minimum and maximum bets? The truth is simple: casinos want your money. As simple as that. So they restrict your possibilities to win.

It was in 1654 that Antoine Chevalier de Mere asked Pascal why he usually lost when he bet even money that are double, 6 would show up at least once in 24 rolls of two dice. Pascal demonstrated that 24 rolls would be against the gambler, but 25 rolls would be slightly in his favor.

Pascal solved the question, and sent the solution to Pierre Fermat and Christian Huygens. The science known as Probability Theory was born. Up to then gambling odds were found by trial and error. Pascal, however, was able to calculate the odds of chance in a scientific way.

But if one knows the odds he can find the way to trick them. Since that time people also began developing the schemes to beat the system. A good deal of the systems is build around increasing each consecutive bet as anticipation of winning grows, known as martingale systems. So gambling establishment elaborated a simple method shut out a game transformation in to jump with bets, where a resource-sufficient player was practically “doomed” on winning. Maximum bet has its limits.

In any world casino each table, be that roulette, blackjack or poker, features signs clearly defining minimum and maximum rate of bets on a given table. A difference between them can be in 10, 30 or even in 100 times. But nowhere to you will be allowed to multiply your bets without restriction.

Please pay attention, that the very existence of maximum bet limits proves that a system, founded on bets augmentation principle, threatens the success of the casino. Take any table in regular or even on-line casino. For example the one, on which minimum bet is $25, and maximum one is $1000. Why do you think you are not allowed to bet more than $1000 at once? Do you believe they won’t have money to pay out? Or do they fear, that you will win and take your money home? But in VIP-halls of the same casino you can make a bet of $2000 or even $10000! And if you have specially requests you try negotiating with the administration to satisfy them. Most casinos have more than enough resources to meet any bet of yours.

The deal is about the correlation of maximum and minimum bets. So, in case the maximum is set at a $10000, the minimum bet will rarely be less than $250. The idea is to limit your double bets to certain number of times depending on the game. Usually you want be able to double more than 5 times. Otherwise your odd of winning become impermissible high.

In the Eighteenth century, Jacomo Casanova hit upon a method to win at gambling. Each time he lost, he would redouble his bet until he won. In letters he wrote to the friends, he discusses how his martingale system would guarantee his win every time. And mere two days later, he wrote a letter from prison. The scheme had failed — and series of losses overcame his funds, and he was now in debt. In 1755, after suffering ruinous gambling losses and participating in various illegitimate dealings, Casanova was denounced by the Venetian State Inquisitors and imprisoned beneath the lead roofs of the Venetian Ducal Palace, in place known as the “Leads”.

Online Sport Betting – You Can Easily Make Winning Bets From Home

Online sport betting is a very popular form of gambling that counts for billions of dollars worldwide. The online betting industry has been growing every day since its emergence, which basically coincided with the outset of the Internet. You can legally bet on sports today through one of the hundreds of different online sport betting sites where they are all headquartered at offshore gambling institutions in countries where it is legal to hold such activities. However, some of the sites out there are risky and you should choose your Internet sportsbook wisely.

Although you probably already know that gambling in itself is a dicey endeavor, placing a wager at a reputable online betting site can lower the risk of you losing your funds from a scam. In fact, the main reasons why online sports betting is becoming more popular are because it’s fun and can be done everyday, it adds an exciting element to a sporting event, and it gives you the opportunity to win a lot of easy money. Read this article to discover how you can safely and effortlessly place online sport bets and learn how to give yourself the opportunity to make easy money.

With the advent of the Internet, online sport betting has transformed the very definition of sports gambling. Traditionally, it has been regarded as a general activity for sports fans to participate in occasionally, which would heighten their interest for a particular game or sporting event. This activity would also benefit the leagues and teams of interest because there would be a bigger television audience and greater attendance numbers at the games themselves.

Back in the day, the only places you could even engage in such activities (in the United States) would be Las Vegas or other casinos where gambling was legal – and where there were numerous bookmakers standing by more than willing to accept your wager. However, the Internet has since opened the door for a worldwide online sport betting industry where gambling restrictions are weak or otherwise nonexistent.

You may be wondering: Is online sport betting legal? The answer is yes, and it can be done through an online sportsbook. Over the last decade, hundreds of Internet sportsbooks began accepting regular sports wagers from all types of bettors. Since the legality of sports betting and the general acceptance of gambling varies from country to country, nearly all online sportsbooks that have come into existence today are located offshore. Most are headquartered in Central American countries or on Caribbean island nations where not only they allow bookmakers to accept bets, but sports betting in general is a commended activity because the institutions provide strong financial benefits for its employees, especially in the smaller, poorer countries such as Jamaica and Costa Rica.

The best online sports betting sites advertise their companies through the mainstream media in the United States, such as in sports magazines, college newspapers, or on other general gambling websites. This is because the target market for these institutions are American sports bettors, especially because of the popularity of betting on games in baseball, basketball, and football.

However, as legitimate as they may seem, one must take caution before choosing an Internet sportsbook. They could be operating in a country with loosely defined laws or in one that doesn’t govern their regulations. Some are run by poorly financed companies, which would result in a high risk for bettors to safely wire money online to the sport betting sites and into their bankroll. The best betting sites generally have a few other companies that are all linked to a strong financial institution, such as the BetCRIS Group (Bet Costa Rica International Sports), which has been regarded as the industry leader in the offshore business.

In general, since online sport betting is readily available for sports fans and gamblers alike, it has been steadily growing as an entertaining activity to take part in and is increasing in popularity everyday. Today, there are overall fewer risks when placing a wager at a reputable sportsbook than there used to be before gambling came online. Sports betting has always heightened the interest for a particular sporting event, and will continue to adhere to the overall popularity of all games worldwide.

You can see how online betting provides the opportunity for anyone – regardless of gambling experience – to participate in a legal activity that can open the door to make easy money betting on sports. Online sport betting has made it very convenient for gamblers to make sports bets with Internet bookmakers in the comfort of their own home, and most betting sites offer a variety of valuable resources to use so that you always have the best chances of winning your bet.