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Last Day at the Races 2014 (maybe)

Blogs > ThomasjServo
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ThomasjServo
Profile Blog Joined May 2012
15244 Posts
Last Edited: 2014-09-08 14:52:05
September 08 2014 14:51 GMT
#1
Among the plethora of vices I've managed to accumulate in my oh so short twenty five years on this planet, one of the most enjoyable has been going down to the local horse track and spending an afternoon with $60, my brother and a few beers while putting some money on the races. This is something most people in my area will do maybe once a year, maybe, same goes for your average casino goer in my general experience. This weekend marked the second to last weekend of races for the season, and while I may try to pop down one more time, the lack of a car in my life right now, stands in way of my vices.

There is something special about going to the track though, you get to feeling more connected to the sport in a way that plugging away at $20 dollars in a penny slot machine just doesn't quite give you. You start to recognize names of horses, get a bit of a feel for how they run, and decipher the odd, often cryptic jargon that peppers the day's program and get in touch with your track, and the kind of races you enjoy. This, as opposed to, "repeat bet," well shit, I guess I lost again, but I sure am happy about that 20 cents I won on the last spin.

[image loading]

My local track Canterbury Park, just a skip and a hop to the south of the cities. Interestingly enough this track has fewer favorites that win than the national average, which while it is frustrating to see a 40/1 odd horse come in against your much more reasonable bet, it is exciting



I first started going last Summer with my older brother, for the most part it was a bit of bonding and an excuse to do a bit of day drinking that his then fiancee, and my girlfriend couldn't get terribly bothered about. Realistically, we pissed away a lot of money. The track is fun, but as I mentioned there is a bit more of a learning curve to everything from the language to finding your footing as a horse player. We started, betting to win most races, with incremental success, and eventually developed a bit of a taste for what are termed exotic bets, which are in essence less simple criteria to collect on your winnings.

[image loading]

This guy paid off fairly well, the horse was at least 10 lengths from the nearest contender, it was a bit of a blow out


This last Friday, I took home one of my better paydays to date, playing mainly exotics, but to give a bit more detail into these bets, I'll describe them a bit more below:

    1. Win- This should be self explanatory
    2. Place- First or second
    3. Show- First-third
    4. Exacta- Pick 1st and 2nd place in order
    5. Trifecta- Pick 1st-3rd in order.
    6. Superfecta- Pick first 4 horses in order.
    7. Pick 3(4)- Pick the horse that comes in first in X number of consecutive races


    "Boxing" your bets for 4-6 means you don't have to pick the exact order, just the horses but lessens your potential winnings considerably.


First race I was at the track, I arrived with 10 minutes to post, a decent time to place a bet, and collected $40 on a ten dollar box exacta, a nice start. The middle of the day I couldn't hit my exacta but I was hitting one off horses to win, something which kept the beer flowing most of the night. I mention the timing of the bet, because two things irk me most while I am at the track. The first is people really celebrating favorites who win, and the second is people who bet five races out with no consideration to the odds.

The first sounds a bit off, but these horses are often coming in at 1-1 or less for the odds, which means on a two dollar bet, you'll get back $2.40, woo hoo. Like Artosis described Leta's face after two raxing, I think it was a Zerg, and coming out of the booth looking like he had done something really clever, these people parade about the stands. The second is just a bad idea, and it ties into the former, odds change up into the moment the race begins; horses drop out of the race (for which you receive a refund) but you can just get some really shit odds on horses if you jump the gun on betting. A quote from Charles Bukowski always stuck with me and it was written about the track specifically:

Wherever the crowd goes, run in the other direction. They're always wrong.



I was doing alright, a bit ahead and the track had paid for most of my beers, my brother for a few as well, so all in all a good night, but at the last race of the night, I I hit a much less likely exacta, for which my $10 bet paid out $104, putting me well over what I came in with. After that, live racing was done, and I went into the card club to watch my brother piss away money at the blackjack table while glowing like a goddamn idiot. It was brilliant.

If you have live racing where you are from, I would encourage you to go out and try your hand, it is an amazing way to spend a Sunday afternoon, a far and away more entertaining and less depressing than your average casino trip (Provided you stay away from the Off Track Betting areas, or where people are playing multiple tracks around the country that place is a bit much for newer players.) Just do me a personal favor, and if you are going to the track, and it isn't a top tier, joint, leave the bow tie and derby hat at home. Your average Sunday does not the Kentucky Derby make.

Thanks for the read TL.

****
FuRong
Profile Joined April 2010
New Zealand3089 Posts
September 08 2014 15:20 GMT
#2
I second this. My grandfather used to own horses when I was young, so I would often go along to the track with my family. Haven't been in a while, but it' definitely more entertaining and social than a night out at a casino or club.
Don't hate the player, hate the game
Onekobold
Profile Blog Joined October 2013
244 Posts
September 08 2014 18:00 GMT
#3
--- Nuked ---
MysteryMeat1
Profile Blog Joined June 2011
United States3292 Posts
September 08 2014 18:43 GMT
#4
Or i could go onto irc which os free :p

Nice pickup tjmaxxx!!!
"Cause ya know, Style before victory." -The greatest mafia player alive
farvacola
Profile Blog Joined January 2011
United States18863 Posts
September 08 2014 19:47 GMT
#5
The horse tracks in Ohio and Michigan are magnitudes more depressing than casinos lol.

Just remember to always bet the fecta.
"when the Dead Kennedys found out they had skinhead fans, they literally wrote a song titled 'Nazi Punks Fuck Off'"
ThomasjServo
Profile Blog Joined May 2012
15244 Posts
Last Edited: 2014-09-08 19:59:13
September 08 2014 19:58 GMT
#6
On September 09 2014 04:47 farvacola wrote:
The horse tracks in Ohio and Michigan are magnitudes more depressing than casinos lol.

Just remember to always bet the fecta.

Oh I am holding off on the Ohio/Michagan depressing jokes. <3 XD hahahahaha they all attract a type, but at the track I at least don't see grandma's puffing away at Virginia slims at video poker, while they take their oxygen off for a bit. @____@
MysteryMeat1
Profile Blog Joined June 2011
United States3292 Posts
September 08 2014 21:45 GMT
#7
On September 09 2014 04:58 ThomasjServo wrote:
Show nested quote +
On September 09 2014 04:47 farvacola wrote:
The horse tracks in Ohio and Michigan are magnitudes more depressing than casinos lol.

Just remember to always bet the fecta.

Oh I am holding off on the Ohio/Michagan depressing jokes. <3 XD hahahahaha they all attract a type, but at the track I at least don't see grandma's puffing away at Virginia slims at video poker, while they take their oxygen off for a bit. @____@


Sounds like my grandma T.T

She plays the pennys er day
"Cause ya know, Style before victory." -The greatest mafia player alive
Foolishness *
Profile Blog Joined May 2009
United States3044 Posts
September 08 2014 21:46 GMT
#8
On September 09 2014 00:20 FuRong wrote:
I second this. My grandfather used to own horses when I was young, so I would often go along to the track with my family. Haven't been in a while, but it' definitely more entertaining and social than a night out at a casino or club.

I third this. Though I like casino's as well horse racing does have it's own unique appeal.

One of my economics professor's wrote a paper about betting on horses (particularly the pick 3 bet) entitled, "An Economic Analysis of Horseracing’s Pick Three Wager: The Public’s Misperception of the Binomial Distribution". The tl;dr is that if you're going to do the pick 3 bet, you should only pick a favorite for one of the races (or zero). To quote:

"The number of winning tickets with zero betting favorites was 63, or 36%. The number of winning tickets with exactly one betting favorite was 74, or 42%. The number of winning tickets with exactly two favorites was 33, or 19%. Finally, the number of winning tickets with favorites winning all three races was 6, or 3%. Despite the low probability of favorites winning at least two of the three races in question (22%), we can demonstrate (in section IV of the paper) that the public places a large number of bets, pinning their hopes of success, on exactly that kind of unlikely profile with regard to betting favorites. In short, it is very rare for all three favorites to win their races in a particular pick three sequence, and when they do, the pick three payout is quite small (indicative of the larger number of folks making such wagers)."

Keep in mind it's been statistically verified through time that the betting favorite wins the race about 1/3rd of the time, which is where the misconception about the binomial distribution comes in.
geript: "Foolishness's cases are persuasive and reasonable but leave you feeling dirty afterwards. Kinda like a whore." ---- Manager of the TL Mafia forum, come play!
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