Betting may be second oldest profession on the planet, but it is no longer played with shekels, rather trillions of dollars change hands daily. These days, big brained computers supercharge the betting atmosphere, making odds on a pari-mutuel system the job for algebra and algorithms, not necessarily in that order (maybe a quinella or exacta). Pari what did you say? Pari-mutuel betting means pooled bets with no ‘house’ cut taken out, and the winnings odds are determined by the shared pool (the race track gets a fee for handling each bet). The horse racing gambling business is all about the odds, and maximising your winning returns and minimising your losses.
Tech Aided Betting: Benefits & Pitfalls
Technology has definitely aided betting at all levels of the game. Making it faster and easier for punters to bet all over the globe. At the highest level of computer gambling, there are teams pulling in up to $100 million a year. They employ multimillion dollar bankrolls, code writers, clerical staff and bet placers to put together these winning teams. Hong Kong sees a lot of this action; with teams usually headed by Australian head gamblers. What this says about Aussies and the gambling scourge is pretty obvious.
The corporate bookmakers are all using computer technology to frame their markets and odds. The humble punter is, in some ways, like a stone age man brought back to life in the twenty first century from his DNA, using club and flint to try and build a skyscraper in a day. It all comes down to high speed mathematics with adjusted betting systems. The benefits of all this technology are there for those who can utilise it. The pitfalls are there for the vast majority of punters, but hasn’t gambling always been that way? A small group fleece the mug punters of their hard earned is another example of a time honoured truth.
Technology only exaggerates the same effect. Computers have made the horse racing industry still viable in a space age. What would horses be doing if there was no racing business? A few equine events and petting zoos. Horse are like astrology, something from an antique past. Tech aided betting: benefits and pitfalls are there for all to see. The exchange of large amounts of money and equations as complex as on any stock exchange or future’s market. Software programs crunching arrays of numbers at lightning speeds and big bankrolls to fund the bets.