What is your general house edge for horse racing? I know at racetracks in real life it can be as much as 40%. Curious as I know sportsbooks generally just take the same odds given by the racetracks prerace.
If its pretty high, then I would assume that hitting a 5.60 odds horse or higher would probably be a 1/20 or lower chance proposition...was considering trying your "step-up" promotion (what I call it).
As with our other bets, you will find the best offering right before the start of the race when odds are reliable.
For the bigger races, the theoretical hold should be around 7%, but it can get much higher if odds are not reliable.
This promo is definitely + EV for you as long as you place your bets right before the race starts. A horse at odds of 6.5 will probably win about 1 in 7. But even if it wins 1 in 10 you still make an enormous profit because with the bonus your odds are essentially 18.5.