Once a year, trackside betting is legal in Saratoga, thanks to the Saratoga Lions Club and the Chariot Races.
Race fans and bettors line up along the track at Buck Springs Arena to cheer on their favorite team.
The quarter-mile track is filled with up to six horses pulling three drivers. Steam rises from the noses of the horses as it meets the cold February air. The four-legged athletes shine with sweat as they compete to cross the finish line.
Between races the action takes place in the pit with the auctioneer selling teams for the next race.
“Nine, 10, 11 or 12 rounds will sell in separate pools,” Joe Glode, a Lions Club volunteer, said.
Where there used to be big money at the Calcuttas on Friday and Saturday nights, it is now at the track.
The Lions Club continues to host the Calcuttas in the evenings before the races.
In preparation for the races, Glode keeps track of the results from other Chariot Races during the season.
It gives him the opportunity to see how they are racing, their times and how to set up the matches for the Saratoga races.
“If they aren’t matched up by the closest times, then everyone would know who is going to win the race,” Glode said.
That can change on race day, too, Glode added. The condition of the track and how the team reacts to the track can make a difference in the horses’ performance during the race. “That’s why they call it gambling.”
Ten percent of the proceeds from each pool goes to the Lions Club, so the more rounds of betting there are, the more money the Lions Club can make.
Glode explained if Team X has a bet of $50, Team Y has a bet of $60 and Team Z has a bet of $50, the total pool for that round is $160. The Lions club takes their 10 percent, in this case $16 and the round is worth $144 to the winner. If Team Y wins the race, the bettor is $84 ahead, and Team X and Team Zhave lost $50 each.
The odds change when bets are further apart Glode explained.
If Team X has a $20 bid and Team Y has a $200 bid and the bettor for Team X wins, he is ahead by $178, but if team Y wins, the bettor is down two dollars, because he gets $198 back, $220 minus the 10 percent to the Lions Club.
Saturday night, Glode goes over the times of the racers and matches them again. On Sunday, the bettors have a chance to recoup their money because they have a better idea of how the horses are performing on this particular track.
If the weather changes or conditions on the track change, the horses may perform differently and it’s a gamble once again.
Either way, it is a great fundraiser for the Lions Club.
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