One Post wrote:
Am I wrong on this but the tracks make the same amount of money whether the favorite or the long shot wins? Isn’t that the theory behind parimutuel?
So how does the track benefit from post-post (is this a term?) adjusting the odds?
Correct, the track is only taking a fee (the takeout) for handling the wagers. That fee is sliced up by many entities, i.e. the horsemen, the track, the state, simulcast partners. However, the tracks do have an interest in accommodating their best clients, which in today's game means the large consortiums betting via computers and/or automated systems. I'm not suggesting that these players can get their bets in after the regular guy, but it wouldn't surprise me if they had a slight advantage as the horses are leaving the gate. They may also cancel bets which obviously would affect the pools.
It makes the game that much tougher for an independent player like me. It's a game of very skinny margins and I have to establish a "strike price", if you will, before I bet a horse. If that minimum acceptable amount is 7/2 for example, and I bet right before the off at 4/1 and halfway down the stretch the odds shift to 8/5, over the long haul that's disastrous for me regardless of whether or not I cash the $5.20 bet today.