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Author Topic: Stocks .01  (Read 1120 times)
trotter1
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« on: February 10, 2006, 07:08:34 PM »

When one can buy stocks to the penny--i.e.  Microsoft at 27.31 per share, why is it that with modern
technology in the 21st century the tote payoffs are in .20 increments.  Guess what happens when the
calculation is made (assuming it's done honestly) that a $2 win payoff SHOULD return $6.79? 
That's right, it's not payed at $6.79, it's not rounded down to $6.75 (what would be wrong with that?),
it's not rounded even rounded down to $6.70 (why can't they?)--it's paid at $6.60 (only if you're at
the track live).  Then, if you're at an OTB or a different track, it's reduced another 2.5% and rounded
again  to the nearest .20 cent level ($6.40). 

Who do you think gets to keep all these "rounding" adjustments?  Before everyone says we shouldn't
be worried about a few cents, keep in mind if you had $200 to win on the above horse, instead of
getting $679.00 you would get $640.00--that is only ONE bet for ONE person.  Multiply this by
hundreds of bets and thousands of people over a longer period of time.

Most people bet with vouchers so let's not say it would tie up the windows with the pennies.   Heck,
if they would just round payoffs to the next .05 level  (i.e.  payoff $6.75 in the above example)
that would be fine with me.

Also, I've always wondered---how do we really KNOW the payoffs are correct on the board?  I'm not
talking about the above rounding errors--I'm talking about exacta payoffs, trifecta payoffs, doubles,
superfectas.  What auditing is ever performed to show that there are never any funds skimmed?

Obviously the track takes their 16-25% off the top but what about the payoffs back to the public?
When a trifecta pays $695.00 for $2, how do we REALLY know it shouldn't have been $742, for
example.

This is a sincere question--please everyone--try to hold off on "bashing" with your answers.
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off stride
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« Reply #1 on: February 10, 2006, 07:17:56 PM »

the official term for these...'rounding adjustments' is breakage.. and i would assume in most states it is a contract negotiated item
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Dan Nance
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« Reply #2 on: February 10, 2006, 07:28:36 PM »

the official term for these...'rounding adjustments' is breakage.. and i would assume in most states it is a contract negotiated item

The official term is " highway robbery " .
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off stride
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« Reply #3 on: February 10, 2006, 07:49:51 PM »

The official term is " highway robbery " .

 i agree with you there
 
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TC
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« Reply #4 on: February 10, 2006, 08:03:50 PM »

When one can buy stocks to the penny--i.e.  Microsoft at 27.31 per share, why is it that with modern
technology in the 21st century the tote payoffs are in .20 increments.  Guess what happens when the
calculation is made (assuming it's done honestly) that a $2 win payoff SHOULD return $6.79? 
That's right, it's not payed at $6.79, it's not rounded down to $6.75 (what would be wrong with that?),
it's not rounded even rounded down to $6.70 (why can't they?)--it's paid at $6.60 (only if you're at
the track live).  Then, if you're at an OTB or a different track, it's reduced another 2.5% and rounded
again  to the nearest .20 cent level ($6.40). 

Who do you think gets to keep all these "rounding" adjustments?  Before everyone says we shouldn't
be worried about a few cents, keep in mind if you had $200 to win on the above horse, instead of
getting $679.00 you would get $640.00--that is only ONE bet for ONE person.  Multiply this by
hundreds of bets and thousands of people over a longer period of time.

Most people bet with vouchers so let's not say it would tie up the windows with the pennies.   Heck,
if they would just round payoffs to the next .05 level  (i.e.  payoff $6.75 in the above example)
that would be fine with me.

Also, I've always wondered---how do we really KNOW the payoffs are correct on the board?  I'm not
talking about the above rounding errors--I'm talking about exacta payoffs, trifecta payoffs, doubles,
superfectas.  What auditing is ever performed to show that there are never any funds skimmed?

Obviously the track takes their 16-25% off the top but what about the payoffs back to the public?
When a trifecta pays $695.00 for $2, how do we REALLY know it shouldn't have been $742, for
example.

This is a sincere question--please everyone--try to hold off on "bashing" with your answers.

Trotter 1, haven't you heard, despite all of these "edges" the Langleys and Johnstons of the world can't make any money - or so they say.  This kind of stuff you describe goes on from Race 1 at Tampa and continues through the nightcap at Los Alamitos for these guys and the live "clobber" is enough to put decent players into a coma.  EW touched on a great t-bred point last week when he mused as to why the Magna Pick 5 starts in MD with Lrl.  He hinted that Laurel has a higher takeout on such multi-race gimmicks than FL, CA, and other MEC destinations.  It's gimme, gimme, gimme, yet pout, pout, pout, when good businessmen like these rebate shops come in and cut them to the big player bone with better value for the wagering dollar.  I myself still like to help out the horsemen as best I can, but NO big plays (W-P-S) can go through the windows anymore with these kinds of "rakes" the tracks keep.  Great post.   trotter  TC
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Honest1
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« Reply #5 on: February 11, 2006, 03:11:53 AM »

As far as I know the IHHA or the IRB has not conducted any audits to report on the actual handles at the otb's or the tracks themselves, so how do the horsemen know if they are getting a fair split? 
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FIRST UP
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« Reply #6 on: February 11, 2006, 08:54:15 AM »

the horsemen have to assume it is like most other things in racing......completely honest geezer
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TC
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« Reply #7 on: February 11, 2006, 09:31:24 AM »

As far as I know the IHHA or the IRB has not conducted any audits to report on the actual handles at the otb's or the tracks themselves, so how do the horsemen know if they are getting a fair split? 
Honest, that's quite the conundrum.  As a cash business, of course the tracks don't want to open up their books to anyone - especially the horsemen, who would be feared almost as much as the IRS.  Let me repeat that in 2003-2004, the Gestapo raked in $12 million buckeroos annually.  It appears you fine viewers have a few days to let that figure soak in before Mr. Breth comes on and disputes it.  I don't begrudge owners for making as much as they can, but when they sabotage their businesses at the peril of their horsemen, all so that they can get a "handout" from the state (i.e. slots), it sickens me.   trotter  TC
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Lockjaw
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« Reply #8 on: February 11, 2006, 11:05:31 AM »

Why not use this "rounding adjustment" thing to your advantage: Call your credit card company.  Tell them you're going to settle your debt ($4,232) by rounding to the nearest $10,000.  After making a "rounding adjustment," you owe zero! Using this strategy, we could keep spending and pay off the national debt at the same time.  Just round the national debt to the nearest 100 trillion dollars.
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Honest1
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« Reply #9 on: February 11, 2006, 02:55:05 PM »

Lockjaw, that works for me! so now I dont owe anyone! Ill bet my vet and trainer, blacksmith, feedman, mastercard acount and the rest wont be so happy! We the horse owners put on the show but never seem to profit from our investment, and they wonder why there is over 70 horses in the sale from this area. Merv Chup said it best this is BS   
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BIG FAN
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« Reply #10 on: February 11, 2006, 03:41:41 PM »

Its a DEAD GAME!That is why there are over 70 local head at Delaware      flag
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