Late betting or past posting is making a bet after the time when no more bets are to be taken. It is considered cheating because information may have become available, including the outcome of the event, that was not available to those making earlier bets.
The term past posting originates from horse racing where a bugler sounds a "call to the post" just before the race begins. This is also the signal that no more bets can be taken. Any bets made after that time occur after or past "the post".
In other forms of gambling, the dealer may announce "No more bets" or wave their hand over the table in a specific manner. In roulette game for example, past posting refers to placing a bet after the ball lands in a pocket. The player has to distract dealer's attention to be able either to move the bet to or to place a bet on the winning number. Past posters in roulette games play in teams. According to most cheating strategies the player that succeeded in placing a past posting bet and did not get caught is to make a couple of more bets (now legal) and leave the table. 
This was more feasible in the days before live television or radio broadcasts of sporting events. It is featured especially in the 1973 film The Sting, which was set in 1936, as the basis for the successful con played on Doyle Lonnegan, played by Robert Shaw. In this case they used the wire transmissions of Western Union before made public to find results of already run races. In addition, Came a Hot Friday, set in 1949, and starring Peter Bland, showed a less elaborate practice of past posting, but in this case, the ruse all went wrong.
It was also shown in the movie The Grifters directed by Stephen Frears. In the movie, we can see Lilly Dillon played by Anjelica Huston manipulating the odds this way.
- Insider trading
- ↑ "Past Posting - Cheating in Roulette". Roulettedoc.com. http://roulettedoc.com/article-online-roulette-past-posting.htm. Retrieved 2010-06-10.