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The public sale system was restricted because you may solely take bets for the number of horses in every race. While some bookies opened multiple auctions on a single race, they still missed out on lots of deal with. Longer odds (like 50-1) meant a better payout but a decrease chance of winning. Horses given better odds were extra more likely to win however paid out at a decrease rate (5-1, for example). Becoming an oddsmaker isn't easy -- there are not any oddsmaker faculties.
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