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Originally Posted by Gold Medal
I know its only legal in New Jersey but was watching the promo for it on TVG where the discussed all the various betting options and it seemed really interesting.
Does anybody have any actual experience betting on the exchange ? Did you find it easier to make money than with standard parimutuel wagering ?
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It's a fun alternative to have and at times you can snag a good price, but the people/bots are pretty sharp. I suppose the best value would be if you don't like a low-odds horse and can "lay" that horse, but then that's true in the mutual pools too.
The betting during the race is also fun, but again, you have to be lightning fast and I found that faster people than me were sucking the value out. I have heard some here say they wait for a horse to run off before the race, then cover all the bets on that horse. The problem is, you're going to be laying a lot of 40-1 and 60-1 bets. You only need to be wrong once to wipe out your profits for a long while.
If you're a straight, grind-it-out win bettor AND they cover your tracks AND you don't bet big, you're probably getting better odds than in the mutual pools. If you like exotic wagering or multi-race bets (which happen to be my favorites) then exchange wagering offers no value.
