Tough times continue at Turfway Park

Horseracing Betting Lines

07/07/2010 - Florence, KY (Sportsbook Betting Lines) - In an effort to maintain daily purses equal to last year's, Turfway Park president Robert N. Elliston announced Wednesday that the track has asked the Kentucky Horse Racing Commission to approve a request to cut four Wednesday cards and all but one stakes race from the 2010 Fall Meet.

"We were forced to make deep cuts to at least stay even with last fall's daily purse averages and support our local horsemen as best we can," said Elliston. "We have to do whatever we can to maximize our field size, which means fewer race dates. And we are not alone. Churchill Downs ran four days instead of five except for (Kentucky) Derby week during their spring meet, and their average field size fell below eight. Keeneland cut more than $1 million from its fall meet purse structure and dropped two graded stakes. Except for Labor Day weekend, Ellis Park is racing only three days a week. Meanwhile, Indiana Downs just increased their purses by 30 percent and last month, on an ordinary Wednesday card, set a track wagering record."

Turfway is requesting to run Thursdays through Sundays from September 9 through October 3, a total of 16 days as opposed to last year's 20.

The lone stakes race to remain on the schedule will be the $100,000 Turfway Park Fall Championship at 1 1/2-miles, a Breeders' Cup Challenge race.

Eliminated from the schedule are the three Kentucky Cup Day of Champions races; $200,000 Kentucky Cup Classic, $100,000 Kentucky Cup Distaff and $100,000 Kentucky Cup Sprint.

"We are especially disappointed to have to drop the Kentucky Cup Day of Champions," Elliston continued. "Great horses came from all over for those races, and they've had a significant impact on the Breeders' Cup. If the state legislature allows us to level the playing field with surrounding states that enhance their purses with gaming revenue, the Kentucky Cup would be high on the list of races we would restore."

Additionally, Turfway has asked permission to move its Fall Meet post-time on Thursday and Friday up 90 minutes to 5:30 p.m. (et).

The Kentucky Horse Racing Commission is scheduled to consider the request at the group's next meeting on Tuesday, July 20.

Turfway Park is the home of the $500,000 Lane's End Stakes, a major prep race for the Kentucky Derby.

Wwwcasinofortune Horseracing Betting News

<< In the FCS Huddle: Bucknell's Susan making up for lost time
Philadelphia, PA (Sportsbook Betting Lines) - That Bucknell's football team is undergoing change with a new head coach basically coincides with the clock in the Bison's locker room, which is counting down the days, hours, minutes and seconds to their sea

<< 2010 FBS Positional Analysis: Wide Receivers
Philadelphia, PA (Sportsbook Betting Lines) - They are often the brashest of players, but it seems these days those who play with a swagger elevate their game and by nature their teams to new heights. Whether they go by wide receiver, flanker or any othe

<< Capitals re-sign D Schultz to 4-year, $11M deal
WASHINGTON (AP) -Defenseman Jeff Schultz has agreed to a four-year, $11 million contract to remain with the Washington Capitals.The deal was announced Wednesday afternoon.The 24-year-old Schultz led the NHL last season with a plus-50 rating and had

<< Fish rolls; Querrey ousted in Newport
Newport, RI (Sportsbook Betting Lines) - Fifth-seeded American Mardy Fish booked a spot in the quarterfinals, while top-seeded 2009 runner-up Sam Querrey was a second-round upset victim Wednesday at the Hall of Fame Tennis Championships. The 6-foot

<< Hockey world waits for Kovalchuk
Philadelphia, PA (Sportsbook Betting Lines) - We now know that the LeBron James sweepstakes is set to end Thursday night in prime time, but the NHL's biggest free agent may take a little longer to choose his next team. It was originally expected that

Rose, Fowler, Watson in...Kim and Toms out at British Open >>
St. Andrews, Scotland (Sportsbook Betting Lines) - Fresh off his second PGA Tour win of the season at the AT&T National, Justin Rose earned a spot in the 150th staging of the Open Championship at the Old Course at St. Andrews. Rose, who b

Padres P Bell named to All-Star team >>
New York, NY (Sportsbook Betting Lines) - San Diego Padres closer Heath Bell has been named to the National League All-Star team as a replacement for injured Milwaukee starting pitcher Yovani Gallardo. Bell was the choice of manager Charlie

'Canes bring back Corvo with two-year deal >>
Raleigh, NC (Sportsbook Betting Lines) - The Carolina Hurricanes have brought back defenseman Joe Corvo with a two-year contract. The pact will pay Corvo $2 million in 2010-11 and $2.5 million in 2011-12. The veteran blueliner was dealt to the

Fish rolls; Querrey, Ram upset in Newport >>
Newport, RI (Sportsbook Betting Lines) - Fifth-seeded American Mardy Fish booked a spot in the quarterfinals, while top-seeded 2009 runner-up Sam Querrey and defending champion Rajeev Ram were second-round upset victims Wednesday at the Hall of Fame Te

Report: Former Sharks G Nabokov heading to Russia >>
Toronto, ON (Sportsbook Betting Lines) - Multiple media outlets are reporting that former San Jose Sharks goaltender Evgeni Nabokov has signed to play in Russia. TSN.ca is reporting Nabokov signed with SKA St. Petersburg of the Kontinental Hock

Sportsbook Betting Lines

Who Makes the Sportsbook Betting Lines?

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process. Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error.

“You either have a passion for it or you don’t,” Seba said.

“The #1 thing for us is to make a line for each game that creates good two-way action. We do this by drawing from past experiences and applying them to current situations. People think it’s much more complicated, but it’s not. “

What are the Football Betting Lines Trying to Accomplish?

There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides. Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’).

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10).

How the Opening Line Is Made

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. Of course there is an entire method to the madness on how the opening line is created. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. This usually includes having up-to-date power ratings on each team.

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a "preliminary" pointspread on an upcoming game. The power ratings are adjusted after each game a team plays. Examples of non-game factors that would require an adjustment to a team's power rating are key player injuries and player trades.

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team's most recent games played and previous games played against that opponent. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.

Since the oddsmaker’s ultimate goal is equally dividing the sports betting action, public perception and sportsbook betting patterns must be taken into account. For example, the public might have heavy betting interest week after week on a popular college football betting team such as USC. If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias.

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line "feels right." This is where common sense and past experience with how games are bet enters into the picture.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.

Why Sports Betting Lines Change

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. Reasons for such adjustments include:

Experts working for the individual books having a strong opinion on the game

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action.

Once betting begins, sportsbooks can adjust the line at any time. In doing so they attempt to make more attractive the team that is getting less action. By moving the line, sportsbooks can influence how the public bets on a particular game.

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite.

Moving the line is the oddsmaker's effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision. Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. Oddsmakers have to determine if any changes are necessary and send out an "adjusted line."

“The main objective is that our clients get equal action on both sides,” Seba said. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). If we’ve done that, we’ve done our job.”

To visit this internet sportsbook got to MySportsbook.com for all your sports betting needs and World Series odds.