Friday, October 17, 2008

Jocks are Terrible Handicappers

Jockey does good. Jockey retires. Jockey tries to be a handicapper. Jockey bets $10,000,000. Jockey is broke.

Thanks to Equidaily for the link.

Imagine if he bet it here with 22% takeouts instead of 16% in Australia? Wow, he woulda lost a whole lot more. Vive l'Australia.

4 comments:

Anonymous said...

I actually thought he was a decent handicapper. Wagering 10 million and only losing 3%..... I don't know. But that sounds better the average. A 10% rake and I think he'd be rich.

Allan said...

Actually, I think it is pretty sad to be making a joke of a someone who obviously has a gambling problem. Yes, I know there is personal responsibility but obviously, he needed help.

Cangamble said...

If he was betting into a 22% takeout, he just would have just lost the money faster. He probably couldn't lose more than he did.
He may not have devoted so much of his bankroll to betting either if the takeout was higher? He might be playing online poker instead with some or most of it:)

Pull the Pocket said...

Allan,

Thanks for the editorial comment.

The point is that he is a prime example why the game is broken. He is an example of a long line of examples of no matter how hard you try or how much you know you go broke.

Breeders, owners, jockeys and drivers have made money off these people for a long time in the exact same way (not to mention making money off of people using one armed bandits for subsidy money). There is never outrage, they just happily cash checks. In fact, to add insult to injury, they even want more people to lose like this as witnessed by the three or four takeout increases the last year.

This man does not have a gambling problem. This stuff happens every day.
PTP