Mike Maloney was sure something was amuck. He kept seeing odds drops, like we all do, so he has been trying an experiment: Betting after the gate opens. At the Arizona Symposium on Racing and gaming, he told everyone who would listen that he achieved what he had tried. In a race at the Fair Grounds he could bet until 57 seconds after the race had started.
Maloney is no disgruntled gambler. In a recent post on paceadvantage.com, one of the nations biggest bettors, Ernie Dahlman said in all his times on panels at the Arizona conference he has "never met anyone who impressed me more than he did". Bill Finley at ESPN gives his take on Mr. Maloney and past posting in his column today.
So, what is happening? Well, they are looking into it. I guess they should.
What would the stock market be like if we could buy a stock at 50 cents, which 57 seconds later we know will be 60 cents?
What would poker be like if someone knew what the flop was before he made his first bet?
In case A the capital markets would probably be crushed. In case B, poker would probably not be on television.
Think about it. If you are betting a 7-5 shot at the Meadowlands and he gets an easy lead in a 57 half, and the second choice at 5-2 is stuck behind a breaker, the chances of the horse on top winning might be 85%, or lower than 1-5 fair odds. You might even be able to bet the 1-2 exactor at that point, and it could be paying $40. In theory, this is a huge problem.
So far I am glad to see Mr. Maloney's words are being taken seriously. Without integrity in a wagering pool, you do not have a wagering pool.
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