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Posts Tagged ‘Racing’

Getting the Best out of Horse Racing Tipsters

Article by Mark Richards

Most of us at some time or another will have been given a racing tip. Assuming the kind soul who shared it with us hasn’t made it all up for effect, the tip will typically have come from somebody else, who knows somebody else who, if we follow the food chain back far enough, will be privy to a piece of knowledge or information that has the potential to reverse the house edge in our favour and hopefully win us some much-needed cash.

The observant reader will have noted that I referred to the “house edge”. Everything else being equal, the house edge is the bottom line in betting. It is the built-in, essentially unfair advantage that the bookmaker has over the bettor with all else being equal. It is the reason why, without an advantage of his own with which to counter it, the punter will always eventually lose.

So in essence the person offering the tip needs to have either some kind of insider information, or else the knowledge that comes with experience and expertise to gain the edge over the sportsbook as opposed to it over him.

With the advent of Internet betting the wider betting public was introduced to what was for most of us a new source of information – professional betting tipsters. Or more precisely, in most cases at least, horse racing tipsters.

Where the serious gambler once depended on Racing Post tips or some similar form of “in house” expertise to impart wisdom, there was now a plethora of experts from which to choose. Which is useful, of course, just so long as we were able to identify those with genuine information to share and to separate them from those whose only interest was to separate us from our money.

Tipsters come to us from a variety of stables, if you’ll pardon the pun. Some have, or claim to have, connections with the industry, with the associated inference that they possess some form of insider knowledge. Some have a background in horse racing or other sports themselves, providing us with a reasonable expectation that they would understand how the industry works from the inside. Others are simply individuals who have made it their business to thoroughly research their subject, quite reasonably lending them the edge over those who haven’t.

All in all though the tipster’s background, fascinating though it may be, matters less than his or her track record. At the end of the day, it is the tipster’s horse racing systems and success or lack of it over a sustained period that should be the determining factor in whether or not we should respect the authority of the advice we receive.

About the Author

Mark Richards is General Manager of The Middle Man, using marketing strategy and his expert knowledge of Internet business promotion methods to drive traffic to this customers.

Kentucky House Pass Tax On Wagering From Home On Horse Racing

government pardon
by lisby1

Article by Steve Dickson

The Kentucky House has passed House Bill 368, sponsored by Speaker Pro Tem Larry Clark, D-Louisville. This Bill will place a 1/2% tax on advance wagers placed by Kentucky residents using their phone or on-line accounts. The vote was 85 to 8 in support of the Bill. The Bill now advances to the Senate. This tax similar to those implemented by the states of Illinois and Virginia on similar types of on-line and telephone count wagering.

Speaker Clark, in support of the Bill, claims that an amount of approximately 0,000 per annum can be raised through this tax although this can not be proven as there are no authoritative figures proving how many Kentucky residents place their bets this way. A Word copy of the draft Bill can be found here.

taxes raised form this collection will be split equally between the Kentucky Horse Racing Commission, the track the bet was placed with, and the final portion would supplement the venue’s cash prizes. Whilst this seems a good idea, I cannot fathom why the government have a right to intercede in this way. In my opinion it is up to the venues themselves to make themselves attractive enough for people to want to attend and spend their money there. It is Big Brother acting as far as I am concerned.

What impact does this have for the thousands of Kentucky residents that play poker on-line? Well at present there still is an ongoing court battle to rid the state of over 140 internet gambling sites. The Kentucky Justice and Public Safety Cabinet, led by J. Michael Brown, has been on an two year campaign against the owners of these domain names, some of them owned by industry “super-powers like PokerStars and Full Tilt Poker. In September 2008, the State seized the rights to the domain names and battled for their rights to keep them before members of the internet gambling industry stepped in. The Interactive Media Entertainment and Gaming Association (iMEGA) is leading the campaign for the sites concerned. In October 2009 iMEGA, along with several of the sites lawyers, put their case to the Kentucky Supreme Court. A ruling for this is expected after the end of this month although it could be much later.

Judge Thomas Wingate upheld the State’s actions in seizing the domains, in an October 2008 ruling before the Kentucky Court of Appeals overturned it by a 2 to 1 margin in January 2009. Now that the Bill has been passed for the taxing of horse racing wagers, does that sound the death knell for the Internet companies at stake?

Obviously Internet poker is a different beast to horse racing, if you’ll pardon the pun. In the case of poker there are no “venues” to subsidise so all of the money will be taken directly to government if a similar scheme were to be adopted. If indeed the Kentucky legislature were to succeed in totally closing down the 140 domains, all the domains will do is move elsewhere. Is that what the people of Kentucky want? What is the beef that the American authorities seem to have with poker anyway? I have never fully understood it. Do we want to get back to the days of Al Capone and the gangsters running card dens? Are we wanting to return to the days of Prohibition? I think not. We all know how that worked didn’t it? It is amazing though to think that the British Government has in the last few years ABOLISHED the taxes on wagering. I for one agree with its abolition. If I choose to spend my money on a wager, it has already been taxed at source, why should the government, even on behalf of someone else, get another bite at it. I WOULD see the sense however in taxing any winnings. To me that would be a much fairer thing to do.

I suppose we will have to wait and see how the Kentucky Supreme Court rules but if the last few days in the House are anything to go by I would think that Internet poker in Kentucky has a bumpy road ahead for itself.

About the Author

An amateur poker player writing for players of all abilities.

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