Fixed Odds Misconceptions
From the NZ TAB Fixed Odds Blog
A popular one is that once the ‘book’ is losing heavily on a runner it is backed on the tote to reduce the liability. While on the odd occasion it would be nice to balance the ‘book’ by doing the above it’s a situation that has never happened in the past and under current policy won’t happen in the future.
Another situation that doesn’t happen is that if the ‘book’ is losing heavily on a runner it won’t take any more wagers on that horse. Often in early trading a horse will be backed heavily and once the liabilty greatly exceeds what the expected handle on the race is then the ‘book’ has no option but to bring it’s price in at least until the other runners start to attract wagers.
Often we get told by customers that there is no value on the prices offered by the ‘book’. Over the last two weeks we had Hastileas pay $7.20 on the tote after opening up at $11 on the ‘book’ along with On My Way at Alexandra Park last Friday paying $11 on the tote after opening up at $18 on the ‘book’. The tote and the ‘book’ are two completely different wagering pools and some of our astute customers let us know with their early morning wagering if they think that we have made a bad judgement call in our opening prices.
If you have any questions regarding the harness wagering desk please feel free to leave a message or phone the TAB Help Desk who will pass on your query to us.
