Devil,
Its simple.
HKRJ is the pool and they are actually a non-profit organization and thats why they only take about 5% from the hold and because of the special situation there, there were only about 13% of the tax taken by the government from the hold.
So after all, still there were only about 82% returned to the bettors.
As I said before, it could be only worst in North America becaue the tax could be higher and the tracks may take more than that 5% becaus of the low volume of bettings.
So, it means the track payout could probably be about 77% to 80% of the hold/pool returned to the bettors (like Rudy said).
Consider most of sports betting lines are -110, horse betting is something like -125 to -130.
I believe NONE of the offshores horse betting is going to the mutual pool at this moment. So they actually taken control 100% of the hold. The advantage is already on the books, and they still want to rip you off more with odds like this by putting a limit on top of it?
Thats what Rudy is complaining about.
Its simple.
HKRJ is the pool and they are actually a non-profit organization and thats why they only take about 5% from the hold and because of the special situation there, there were only about 13% of the tax taken by the government from the hold.
So after all, still there were only about 82% returned to the bettors.
As I said before, it could be only worst in North America becaue the tax could be higher and the tracks may take more than that 5% becaus of the low volume of bettings.
So, it means the track payout could probably be about 77% to 80% of the hold/pool returned to the bettors (like Rudy said).
Consider most of sports betting lines are -110, horse betting is something like -125 to -130.
I believe NONE of the offshores horse betting is going to the mutual pool at this moment. So they actually taken control 100% of the hold. The advantage is already on the books, and they still want to rip you off more with odds like this by putting a limit on top of it?
Thats what Rudy is complaining about.
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