Crazy cancelled bets

[plasticman]

Fairmount, the Life at Ten situation or even an example like Barbaro breaking through the gate are completely different than what this bettor was doing, they are apples and oranges. Nobody would question a large refunded bet on Life at Ten (or Barbaro in the Preakness), but this situation had no similarities to LAT or some horse breaking through the gate, it was just a guy betting a large amount on a horse with very little chance to win while having no intention of keeping the bet.

[Beau]

And the knuckleheads in charge wasted over a year worrying about getting rid of Lasix because that\'s what the \"public\" wanted!  Yeah right!!!

Integrity of the pools should be at the top of the list of everyone that makes decisions in this game, imho.

[Mathcapper]

Has anyone ever checked to see if the odds on the betting exchanges adjust to reflect those in the local pool when these situations occur?

I\'m wondering if bettors on Betfair might be seeing the big difference in odds and rushing to bet these horses accordingly, based on the view that the \"smart money\" is talking and they\'re getting a huge overlay on the exchange. If so, a veritable fortune could be made by the perpetrator if he had access to the exchange himself.

After placing his big bet, he could simply lay the horse on the exchange after the odds adjust and back all the others in the field. After he cancels his bet and the odds on Betfair adjust back, he could then cover all his bets on the exchange and lock in a huge profit without having to even run the race.

I\'m not sure if there\'s enough liquidity on Betfair to pull such a scenario off, but if so, and if the bettors there respond accordingly to changes in win odds in the local pool, it\'s the ultimate risk-free arbitrage.

[miff]

The particular horse is question was hopeless going in so unless exchange bettors are neantherthals, they are not biting.This is playing out more like some ego driven trust fund millionaire looking for attention.A similar ego fool, Richie the mad bomber, was making huge opening flash plays in NY some years ago but did not cancel(lost $2 million,went to jail for embezzling a big union fund)

If this player is in the exotics, he could screw up and trigger the computer program players if he cancelled at the last second.If this player even contemplated betting $30k on that hopeless slug, we should all be happy to have a stone sucker betting against us.

Still think it\'s an attention grabbing thing rather than an attempt to manipulate the pools.

Mike

[MO]

I witnessed the whole thing on TVG. Horse in question (#6) was 30-1 ML opened at 8-5 and finished last. The winner (#5) was the postime favorite and won. Why can\'t this just be a screwup on the part of the bettor (bet the wrong horse and corrected it when he/she found the mistake)??

Now if you want to talk about Mountaineer, that\'s a different story.

[miff]

According to someone in Cali mutuels, the cancelled bet was not re-bet on another horse. The 30k disappeared from the win pool.This was no mistake that the bettor \"caught\" with 2 minutes to post.

What the bettor was trying to do only he/she knows but a mistake is unlikely.The fact that it happened before with the same bettor confirms the Clueless Clowns turned a blind eye so not to lose this players volume.

Tough to separate legit mistake from someone trying to manipulate.

[MO]

All but 3 horses (the winner, the last place finisher and the #4 horse) went off at odds higher than the ML, with 2nd place finisher at 27-1 - up from 10-1 ML. I see your point, Miff.

[miff]

DRF.Com › Hollywood Park: California Horse Racing Board looking into possible odds manipulation







11/11/2013 3:57PM

Hollywood Park: California Horse Racing Board looking into possible odds manipulation

By Steve Andersen








DRF:

INGLEWOOD, Calif. – The California Horse Racing Board is looking into several large win bets made at Southern California Thoroughbred tracks that were withdrawn in the minutes before post time.
 
Racing board spokesman Mike Marten said officials had been in contact with Xpressbet about a win bet of approximately $30,000 made through the account-wagering service and removed from the pool in the minutes before Saturday's seventh race at Betfair Hollywood Park.
 
"We've been in contact with Xpressbet and we don't expect a recurrence," Marten said.
 
An Xpressbet spokesperson said his organization was working with the racing board "to limit this type of behavior from occurring going forward."
 
"We're taking measures to prevent this," said the spokesperson, who did not wish to be named.
 
Saturday, the $30,000 win bet was made on Ekahi in a $16,000 claimer over seven furlongs. The bet made Ekahi the 3-5 favorite with 13 minutes to post. With six minutes to post, Ekahi was the even-money favorite.
 
The bet was withdrawn from the pool with approximately three minutes to post, causing Ekahi to drift to 27-1 by post time. Ekahi, listed at 30-1 on the morning-line, was last of nine throughout the race. The race was won by Cast a Doubt, the 5-2 favorite.
 
A similar situation occurred twice in the same race at the Santa Anita autumn meeting on Oct. 20. The bets were withdrawn before the race was run

[Boscar Obarra]

Nice to see they aren\'t completely brain dead. Gives one hope.