Understanding Pari-Mutuels So You Can Turn A Profit By Monitoring Fluctuating Odds

“The final hour of wagering in a pari-mutuel can often be the most critical time period to save (additional) wagers because Homestretch Golf’s platform is providing you live, real-time win odds data that can make you that much more informed than other participants solely based on when you monitor those odds.”

David Knox, PGA (Homestretch Golf Founder)
David Knox, PGA (Homestretch Golf Founder)

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Why is it that golf tournaments at my club with fun pari-mutuels are so rare?

Besides the fact that for those who are unfamiliar there is a small learning curve to understanding how to wager in a pari-mutuel (which we help spell out in our user help section on our platform), the main reason they aren’t as common as, say, a skins game, is because they historically have required a lot of time, organization and effort…until now!

Old pain points for me:
Managing error-prone paper bet slips, often which are illegible or get lost.
The time requirement to enter all those slips into software that can handle the calculations.
The time and extra step to facilitate physical receipts, even if just carbon copies.
Post-round process of finding all the winning wager combinations.
Constantly telling eager post-round participants to wait longer to see how much they won and collect.

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How To Run Safe Paperless Pre-Round Golf Wagering At Your Club With Proper Social Distancing

The National Golf Foundation is doing a great job with weekly updates regarding the impact of COVID-19 on the golf industry, including gauging the ‘Golf Itch’ factor across the country.  Their recent Golf Itch Meter was at 80, with 100 representing a Major Itch to play golf.  Golf Pros and Club Operators nationwide are operating in a very fluid environment with ever-changing legislation and implementing measures to safely conduct golf play at their clubs during this pandemic in a manner that eliminates cross-contamination and group gatherings. Read more

Are You Doing These 3 Things Before Your Golf Pari-Mutuel Event?

As with most tasks, investing some time in planning and thinking through logistics in advance of running an event can pay dividends.  Nothing is worse with golf events than learning of mistakes you (or your staff/committee) made due to careless oversights, not having solid answers to questions, and generally not being thorough with anticipating needs in order to deliver a great golf experience.  The same holds true when it comes to facilitating pari-mutuels or any form of pre-round wagering.  

Here are three best practices to implement BEFORE your event that will help you execute amazing wagering experiences for your participants: Read more

More Pre-Round Time For Betting Means More Action And Bigger Pots

Is your club losing out on bigger wagering pots because you don’t open up bets until a staff member or point person is physically in place to collect cash at the club or some other gathering location?  If that is how things are run at your club, then unfortunately, chances are the answer is YES!

The beauty of Homestretch Golf’s paperless wagering platform is that there is no longer a requirement to verbally tell someone your wager or physically have someone record it with pen and paper on a bet slip or enter it directly into a computer.  Homestretch Golf has given the power of recording and saving wagers to the betting participants! Read more

How Golf Pari-Mutuels Can Raise Money for Charity

How can pari-mutuels raise money for charity?  

Simple Homestretch Golf Solution:
Reserve a portion of the wagers to be donated to the local cause!  As an example, if I run a tournament on Homestretch Golf and in my tournament setting reserve 20% of the total wagers for charity, then that reduction is made prior to calculating the payout results.  This is a completely under-utilized fundraising method for charity golf scrambles.  Read more

Homestretch Golf featured on the Wednesday Match Play Podcast with Ricky Potts – Listen here!

Homestretch Golf founder David Knox, PGA
speaks with host Ricky Potts on The Wednesday Match Play Podcast
aired on April 1, 2020.

5 Common Myths About Running Golf Pari-Mutuels

  1. It takes a lot of prep time and several people to facilitate golf pari-mutuels at my club
  2. Team numbers must be displayed when viewing the field of play, and when placing wagers
  3. Paper receipts are a required step in the wagering process
  4. The betting window can’t open until someone is physically in place to collect cash
  5. I have to wait around a long time post-round to see if and what I won

Homestretch Golf’s platform, built by PGA Professional David Knox, busts all of these common myths.  In fact, it is easier to facilitate pre-round wagering (traditional pari-mutuels or any aspect of win/place/show wagering) using Homestretch Golf than it is to conduct a skins game.  Read more

Homestretch Golf Help Section For Wagering Participants

Participating in a golf tournament or special event that offers pari-mutuel or any pre-round wagering component can be an absolute blast! Trying to predict which players/teams will have a good event and wagering on them really pumps up the fun factor for the event. For those who are not familiar with the terms or don’t have much experience with pari-mutuels, here are some helpful definitions and an explanation of how the live odds to win display on our platform: Read more