Last week on This Week with The Professor, we received a question about pool and odds manipulation. Can what appears to be manipulation be chalked up to honest confusion or is it something more dastardly?
Greyt question, David! Let’s see what The Professor has to say on the subject:
There has been some reporting of possible pool manipulation lately, so I thought it would be a good time to discuss the difference between that and “bridge jumping.”
Pool manipulation is something that originated many years ago when several Las Vegas and Reno casinos tried booking bets on greyhound races. The person or persons who were doing this had someone at the track make large win, place, or show wagers on non-contenders. Because the pools were so small, when those dogs ran out of the money, the payoffs on the winning dogs were huge. Another person in the group would have made large wagers on the logical dogs at the casino, thus reaping big profits. This was quickly spotted and the casinos either stopped booking those bets, set low limits on the amount you could bet, or restricted win, place, and show bets entirely.
Another form of pool manipulation is what has happened on a few occasions lately – someone makes a big win/place wager on a logical big favorite and then cancels the wagers at the last minute. This has an effect on the final odds. It discourages people from wagering on the dog because the odds are so low, so the final odds are inflated to what they should be. If someone is making a large wager offshore with a service that books wagers, they receive a payoff which is larger than it should be. The tracks usually keep an eye on this and shut down this practice quickly.
“Bridge jumping” is the practice of someone making a very large wager on a prohibitive favorite, usually to show, attempting to get a 5% return on money wagered. The people who attempt this are called “Bridge Jumpers” because if they lose the large wager trying to make a small profit, they may want to go jump off a bridge.
Thanks to David L. for this question! He has received a $2 credit to his Greyhound Channel wagering account.
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