paramutuel betting question

[pico]

will you ever participate in a paramutel bet if a fixed odds bet is offered some where else? (with reasonable vig...40 cents max)

if you answered yes, please explain. i am trying to settle a dispute with my friend.

[pico]

bump

[HedgeHog]

Maybe. Obviously when I hear paramutual betting, I think horse racing. Two big problems there is the huge track take (often 20-25% of the pool), and the early bettors often get screwed by late action that drives their odds down.

I would consider paramutual betting in Sports if the take mirrored that of exchanges (3-4% or less). If not, forget it. Also I would bet as late as possible so that I have an idea of what my odds are going to be. And this would be a major hurdle for Books as the majority of action would be coming in just before game time--putting a strain on the phone and website systems.

I don't see this becoming a viable option for the Book or Player.

[pico]

Maybe. Obviously when I hear paramutual betting, I think horse racing. Two big problems there is the huge track take (often 20-25% of the pool), and the early bettors often get screwed by late action that drives their odds down.

I would consider paramutual betting in Sports if the take mirrored that of exchanges (3-4% or less). If not, forget it. Also I would bet as late as possible so that I have an idea of what my odds are going to be. And this would be a major hurdle for Books as the majority of action would be coming in just before game time--putting a strain on the phone and website systems.

I don't see this becoming a viable option for the Book or Player.

from my understanding, parimutel betting is only used where the market is thin.

here is an interesting presentation.

http://content.digitalwell.washington.edu/msr/external_release_talks_12_05_2005/11478/lecture.htm

this guy is a shitty presenter...he is not going anywhere at yahoo.