Syndicate Betting Account

When Ed and I moved to Vegas we were aware that Nevada does not allow it’s citizens to wager online anywhere except through the Casinos. Meaning if for example we wanted to open a horse racing account with Churchill Downs who offers an online betting account in another State, we would not be allowed to open an account there because of this law. It’s a protection for the Casino’s and it ensures their patrons wager live and not through an out of state online betting account. We did however think that the Casino’s did pay cash rewards, particularly to big bettors and discovered this was not the case.

Undiscouraged because of knowing we will be wagering large amounts, I proceeded to contact each to see what they would offer and to my surprise three of them knew Ed and/or who he was; recalling his 4 + 30s and his Layoffs and Claims. One said he met Ed and me though I didn’t remember but I knew he was sincere cause he mentioned Ed used to call me the Blonde Bomber, meaning I focused on and scored “Signers” on exotic bets and my hair is blonde.

Though Ed and I had been to Nevada a few times through the years, twice when we hosted horse racing seminars, it was so long ago that I never expected anyone to remember. So when I soon discovered none of them offer Cash Rewards on bets but rather perks; Dining, Shows, Free hotel stays, Racing Forms, and special parking (though no yellow cheese sandwiches) I said We are Not interested in these. Each stressed how business was bad since Covid and that they would like the opportunity to see if anything additional could be offered and then asked what I would like this to be.

I replied first and foremost pari-mutual wagering and cash rewards on our bets, a way that I can deposit and withdraw funds electronically from our account, to be able to make our bets electronically or over the phone to avoid having to physically go in to the casino to make deposits, withdrawals or bets, a print out of each bet made along with the payouts for each win And perks (have to ask, you never know). Everyone said they had to present these requests to their administrators and would then get back to me with what they can do.

So…. the best offer and the one we agreed to shows how much they want our business;
The casino will give us half of the cash rewards they receive from the tracks, even on win, place and show which will be the bulk of our bets, electronic transfer of funds, a personal phone line to place wagers and/or a way I can place bets through an app, a print out of all wagers and an accounting of our wins and the cash rewards that will be credited to our account each following day and they offered all this if we agreed to take this in place of perks. To set this up I had to agree to keep the name of this Casino anonymous, and no one outside of our syndicate can know of this arrangement and its contents. They showed me a copy of their list so I could see their actual numbers and so we could see what half of the cash rewards represents. This is the first time we’ve seen cash rewards given on w/p/s and the cash rewards they are offering on all the other wagers are higher than Ed or me have ever received. My assistant transferred all the information to a spreadsheet showing what the 50/50 split the cash rewards in half represents.

Note: 0.0 means no cash reward offered at that racetrack on that type of bet.
Click Here To View Pdf

With 108 thoroughbred race tracks in our database we will have potential wagers on almost all of the race tracks listed. Currently we do not have any data on quarter horse tracks or most race tracks in other Countries like Australia, Hong Kong, or Dubai with the exception of Canada where we have all.

Re: The Betting program. I’m waiting for an update from the developers. When we last spoke, mid last week they were running into apparently normal issues when setting the algorithms to the module. Apologize cause I don’t know technically how to relay what they say however, they said they were still shooting for being ready by the last day of this month. Usually when they don’t send a quick reply it’s because they’re still working on something and don’t want to answer until they are able to say when and even sometimes when they reply it’s when things are ready. So if we don’t hit the target date of making test bets by the end of the month, I don’t expect them to be too far off from being ready and when they are, with our syndicate betting account we’ll be all set on our end to test.

Just wanted to add that if any of you has someone that might have serious interest in investing and would like me to send them information, please let me know through email edbain@edbain.com and I will send them Ed’s books and the Benter article. In addition anyone that any of you know who would seriously consider an investment can for the same initial investment of $6K per share too only because they were referred by you.


We do have potential investors waiting for me to open up the remaining open shares that are outside of our group however, their investment will be for $10K per share. I initially was going to open these shares up to outsiders beginning February however there is a lot of reading for new investors to review before making a decision and I don’t wish to rush so I’m going to wait a few more weeks.

Last addition to this post for the day. One of our investor friends said he laughed when he read about my inability to intelligently relay what the developers are doing in correct terms for you guys. And then he sent me this photo from a previous post and said “You can’t decipher how to explain what they do to make this program function however You can explain this to the developers so we can make this syndicate happen. ” and added “I’d say that’s good enough” 🙂

Ed Bains Worksheet when he Handicaps the Races

Happy New Year

Happy New Year!  This year has a really good chance of changing all of our lives in a positive way.

I asked our head developer to give us an update to know what we can expect and here is his reply:

There are three outstanding items that need to be completed before we can start testing:

1. Finish building the analytical program. This is being handled by Nick (our mathematician), who is writing the program in a language called Python, which is ideal for computerizing complex mathematical algorithms, such as the ones used in the Benter (aka Logit) model. Note that this program runs behind the scenes and is never directly accessed by the user; it produces an intermediate digital format that is unreadable by humans and must be interpreted by another program, like the Explorer. An initial draft should be arriving shortly, but revisions are expected in the near future as the refinement process continues.

2. Integrate the analytical program into the Explorer. In order to display the digital results, the Explorer must be modified to interface with the analytical program. However, since the Explorer is written in a language called C++, customized translation code needs to be implemented to enable the Explorer to “talk” Python with the analytical program. Once this has been completed, we can start a preliminary round of testing. Work on this will begin after the initial draft of the analytical program has been completed.

3. Improve database accuracy. This is an ongoing activity, and the one I’m concentrating on the most while waiting for the analytical program. Currently, I’m focusing on resolving the issues you (me) had pointed out earlier (eg. cycle-counts), but will soon start working on adding the missing fields, like the Owner and the race times. By the time the Explorer has been updated, the database should be in good shape to provide accurate, albeit unrefined, information.

The major part of building our betting program is complete so the above mentioned should be ready for us to test by the end of this month. The Operating Agreement will be ready the latter part of the week of the 18th and currently I am working towards adding additional investors. As expected we have a bit of interest in our venture because the program is almost complete.  It is important for anyone who has money due towards their investment to send this to us by Jan 31st and anyone who wishes to invest in additional shares should let me know of your interest as soon as can even if you plan to send the investment in at a later date.  And should anyone know someone who would like to invest in our venture we will let them in at your referral for the initial investment amount of 6K though this investment would have to be in hand by Jan 31st.  After this date all open shares will be offered for more, 10K.

So many people have been diagnosed with Covid that the percentages said it was inevitable for each of us to know someone who has been affected.  Then right before Christmas my Dad’s last living sibling, his sister (my Aunt Jeanne) who was 17 years his junior passed away from it and then last week a second cousin of mine was hospitalized and she too just passed away.  Also one of us, one of our investors has Covid. His wife let me know. He isn’t hospitalized though he’s quarantined and expects to recover so hopefully this positive news about almost being ready to go will aid towards his recovery.

We’re so close.  Please stay safe and well so we can enjoy when we “Let em roll at the quarter poll…” And Let’s have a Great Year!

Came across this photo taken of Ed when he used to manually enter his stats. This was taken after we came back from a trip to Santa Anita which we used to do every year for opening day 12/26. He’d collect all the racing forms while we were on a trip and when we arrived home he would stay at his desk until all the recent stats were entered. And yes, we did have to bring an extra suit case to carry the forms home.
Had to share this one too even though this photo it is really shabby. It got this way because I used to carry this in my purse. Ed’s office was upstairs on the 3rd floor of our home and mine was down on the 1st. We kept the coffee on the second floor so it was in the middle. Though we could have purchased a coffee maker for each of us I didn’t want to because I looked forward to his bringing a cup of coffee to me in my office every morning.