Hoss Talk

'Future book' has its ups and downs
The Province
Tuesday, April 5, 2005
Section: Sports
Byline: Tom Wolski
Column: Hoss Talk
Source: The Province

Among the many interesting attractions with wagering on professional sports is trying to pick a winner months in advance.

In Las Vegas this form of betting is called "future book" wagering.

For years, Churchill Downs racetrack in Kentucky has offered this type of wagering using three separate pools leading up to the Kentucky Derby.

What is the future book? It's a form of wagering made well in advance of a certain race. It has a no-money-back guarantee. If your horse does not race, it's considered a losing bet.

But because of the risk factor involved with betting into future book pools, there are surprising payoffs when the actual event is played.

Last year, Smarty Jones was the early favourite in Pool 1 and paid $5.60 US to those who wagered months in advance. But those patient enough to wait till Derby day won $10.20.

In 2003, smart or lucky bettors who backed Funny Cide to win the Derby in Pool 1 collected $188.00. His payoff on Derby day, $27.60.

In 1999, early bettors who backed Charismatic won 4-1. His win in the Derby was $64.60.

With this year's Kentucky Derby four weeks away, bettors are scuffling for the best odds available. Look for several more surprises at this year's Run for the Roses.

On the flip side, Declan's Moon was bet down to 6-1 in Pool 1. Last month, when Declan's Moon got injured and was declared out of the Derby, all wagers on him were lost.

On the positive side, High Fly, the recent winner of the $1 million Florida Derby, opened at 25-1 in Pool 1, but on Monday was 7-1.

Greater Good winner of the $250,000 Rebel Stakes, didn't make Pool 1. Yet in Pool 2 was 20-1 and was 7-1 Monday.

After seeing his unbeaten string broken in the Rebel Stakes, Rockport Harbor was 12-1, but despite the loss, his odds improved to 7-1.

Bandani appeared to be a huge overlay in Pool 1 at 30-1 and Monday was 15-1 and remains my pick -- if he makes it to the Derby.

What future pools reveal is simple.

Come May 6 there is no such thing as a sure thing, which is why horse racing is such a unique sport.

HAZADOUS PAY

On Wednesday, CBC Newsworld at 10 p.m. presents No Glory a look at the real world of a jockey.

It tells the story of four jockeys, including former champion rider Lloyd Duffy, who two decades ago earned millions of dollars in purses for owners of racehorses, while today, at age 60, he has nothing.

For 20 years Duffy served as president of the Canadian Jockeys Guild. During his tenure, he fought for a pension plan for all jockeys.

"I knew we needed one to protect us for the future," Duffy told me. "Surprisingly it was the little jockeys who turned it down, simply because they could not afford to have deductions taken out of their meagre paycheques."

Because there still is no pension plan for riders, Duffy works as a hot walker at Woodbine racetrack.

No Glory has some faults, yet interviews with the jockeys are honest and take you into the real world of a jockey. twolski@shaw.ca

Tom Wolski can be seen on Sport of Kings, 11 a.m. Saturdays on Citytv

Source: Vancouver Province
E-mail Tommy Wolski at twolski@home.com