Next weekend Smarty Jones will try to take the third leg in horse racings Triple Crown at the Belmont Stakes. He will be a heavy favorite to win, and the smart money will be laying $2 to win on the horse. The people placing $2 bets are not in search of the small payouts a Smarty Jones win will produce (the estimated payout is 10 cents on the dollar) they have no plans of cashing their winning tickets.
The best way to make money on a Smarty Jones win is to hold a winning ticket uncashed (and in mint condition) and sell it on the collectibles market. Uncashed winning tickets and other Smarty Jones memorabilia is already available on eBay. Prices for $2 winning tickets for the Kentecky Derby and the Preakness Stakes are already going for anywhere from $50 to $150.
If you can get a $2 bet on Smarty Jones to win placed at Belmont you should; just don't cash - sell it...
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Comments (1)
But if the trend of recent ... (Below threshold)1. Posted by Sean Hackbarth | May 31, 2004 3:08 PM | Score: 0 (0 votes cast)
But if the trend of recent history continues, SJ will disappoint us yet again of watching a triple crown winner.
1. Posted by Sean Hackbarth | May 31, 2004 3:08 PM |
Score: 0 (0 votes cast)
Posted on May 31, 2004 15:08