26th April 2005, 10:48 PM
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Member
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Join Date: Jan 1970
Posts: 4,425
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Mistake?
I don't think so, I've seen this practice before.
This guy has way more than $12,000 in his account believe me.
Offering 1000/1 the field gives him a chance to have thousands and thousands of punters offer longer odds than they would normally on say a $2.50 shot.
He can then lose up to $12,000, but incrementally match much larger wagers than the total cost of his lays.
Laying the field at those odds disguises his intention to plonk on one or two particular horses with much larger sums. It pulls the price up by that many points it doesn't matter.
I'll bet this was a hgh interest race with a lot of turnover generally.
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