Depending on where you bet the Derby, life was either good, or bad.
Sport is made for betting gives us our chart picture above, and discusses the race at Betfair on his blog (click the link to read his blog, click the picture to see the chart more clearly). The bulk of the wagering was done on Mine That Bird at 140-1 or above.
Conversely, due to the rules here in Canada that anger bettors (and anger is not too strong a word) with different fingers-in-the-pie economics with groups wanting bettors money, the payoffs stunk.
The Tri in HPI (Canada's ADW): $38,426.60
The Tri at Churchill Downs: $41,500.60
The Super in HPI: $515,746.80
The Super at Churchill: $557,006.40
Yes, just for those two bets you paid a fee of about $45,000, or around 20% higher than the average yearly salary in this country.
Who gets the money? Your guess is as good as mine. Fixing this issue and giving bettors what they deserve is long overdue.
140-1 at a betting exchange or paying a $45,000 fee here in Canada? Which is better? It's pretty obvious. The betting exchange is growing, and we are floundering.