Exchange Games: Can I bet before the start on Exchange Card Derby Racing?

Each race begins with four runners lined up at the starting line of a 32 segment race track. Each runner is represented by a suit (Spades, Hearts, Clubs and Diamonds). A randomly shuffled pack of 52 cards is used to simulate the race. 

An exchange market where the players can place back and lay bets on the runners is available. The first round of betting occurs when all 52 cards in the deck are still unseen and players can back or lay any of the 4 runners.