Need advice about Racebooks in Las Vegas

[fathead]

I have been to Vegas a few times, but don't really have a feel for things there.

Would it be possible for a profitable bettor to wager say $1000 or more per race at the racebooks (horseracing) and still be allowed to play long term? Or would they get the boot? Does money wagered in Vegas actually go into the betting pool at the track?

Any insight and advice from people who have lived in Vegas would be appreciated. Just planning ahead in case offshore becomes imposssible. Youbet, Winticket, and so on are not available in my state, so a move would be necessary, either to a "Youbet" state or to Vegas.

Thanks.

 

[Chris@OlympicSports]

should go into betting pools, if it didn't prices would be totally different than track prices

 

[NICKYTHEFISH]

I think they are all pari mutual so you shouldn't have any problelms.

 

[fathead]

Chris, about the betting pools, most offshores claim that money bet at their book does not go into the pool. Yet, the bettor still gets the same track payoff on his bet. The Vegas books could do the same, payoff at the track price, while not actually being part of the pool.

Obviously, a bettor would benefit by not having his money go into the pool since he would lower his own payout on the bet if it did.

 

[fathead]

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>I think they are all pari mutual so you shouldn't have any problelms.<HR></BLOCKQUOTE>

Okay, thanks Nicky. So you don't think the books would care how much I bet or won? How does the book make money off of this (or Youbet for that matter)? A percentage of the bets?

 

[packer2012]

As I understand it.....

Your bets DO show up in the pools.

They are like any other off track. Except you are in a beautiful hotel or a shithole depending on your choice of locations.
They simply get a percent of the take, so...

The bigger the bets the better. They could give a crap if we win or lose. They may even COMP you something if you play that big.

Thank you, good night, and don't forget to tip your waitress!

 

[NICKYTHEFISH]

I couldn't tell you how they got their cut.I am not sure if they boot horse racing bettors also.I haven't heard although I really don't pay attention to it.Nor do I know anyone who bets that much on horseracing.I think guys like soccerbob or wildbill can better answer this question for you.However I do know they claim to pay full track odds except on some action they book themselves like house q's.Wish I could better answer this for you.

 

[fathead]

Thanks, Packer. That answers my question. Any Vegas racebook recommendations? I generally don't watch any races. If you treated it like a business (easy in, morning or lunchtime bets, easy out, the rest of your day is free) where would you go?

Thanks everyone for the responses.

 

[fathead]

That's okay Nicky, I do appreciate your input.

 

[tcbets.com]

All the racebooks in Las Vegas comingle their bets with the track pool. They don't care how much you bet. The way they make their money is they receive a percentage of each wager that you make from the track that you are wagering at. If you are looking for a place that does not comingle you might consider Triple Crown Racebook www.tcbets.com

 

[RPM]

tcbets,

GREAT TO SEE YOU POSTING!~

 

[ChuckSims]

Vegas used to cover the bets until races at California were fixed. The fixers would make their bets at Vegas sportbooks. 15-1 longshots were winning by 6 lengths and racebooks were getting killed. When Caesars Palace lost $350,000.00 in less than a week they dropped a dime and called the FBI. Pari-mutuals are now in place at all Vegas racebooks.

 

[vinividivinci]

If you're not gonna watch the races I would just place the bets where it is most convenient.

Haven't bet horses for a few years in Vegas but used to love to sit at the bar at The Plaza downtown and drink and play the ponies,

Always a net loser but way better than shooting craps all afternoon. Didn't have to play real big to get comp drinks.


Have fun!!


VVV

 

[fathead]

Thanks, guys for all the great info. Seems to me that offshore would be best since I won't be lowering my own payout with my bet. But, I am trying to think ahead a little bit, just in case:
(1)Moving winnings back home easily becomes impossible due to federal restrictions, or
(2)All the decent offshore racebooks kick me out and I have to find another way to bet, or
(3)I run into the same legal problems that Mr. Trauman is suffering in N.Dakota and I have to move.

You've given me some good info and ideas. I do thank you.

 

[soccerbob]

fathead- Chuck brought up a good point. Las Vegas race books used to book the horse action themselves but they got just buried by crooked races at Golden Gate Fields and Bay Meadows. The other thing that really pounded them was guys were hitting them on exactas on races at The Meadowlands. They were fixing races by making sure the top 2 betting choices would go in the tank and then they would bet 100 and 200 dollar exactas on longshots and they just cleaned up. The long time racing handicapper for the Las Vegas Review Journal was one of the guys that got popped when the investigation started.

You can bet whatever you want because it is totally pari-mutuel. The only exception which Nicky mentioned is some joints will take house Q's. Before you start betting I would recommend you introduce yourself to a supervisor and ask what they'll take on their house Q's. If you're going to bet all day then I would also recommend asking for a meal comp. It can't hurt and they'll usually give you a buffet or coffee shop comp.

I don't bet horses but Caesar's and the Mirage are both nice race books. Very comfortable. The Imperial Palace is a dumpy hotel but the race book is pretty nice. You might check it out.

 

[GottaWinToday]

I'm moving to Las Vegas (back to Las Vegas) one reason is because I want to bet big (as far as I'm concerned) and I don't want to commit a crime........

Oh, but I WILL DECLARE ALL OF MY WINNINGS TO THE IRS, OH YES I WILL, that is if I win.....


GottaWinToday

 

[fathead]

soccerbob, I appreciate your advice. I bet to Win, so the house quinella wouldn't be an issue. I have always liked the desert

If I do have to relocate some day I will remember your recommendations. It might be possible that I could bet for years offshore without problems, but one never knows. Thanks again.