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View Full Version : Why Rewards (or rebates) work for both the horsemen and the player


richrosa
06-21-2007, 03:09 PM
As I've mentioned before, I opened up my account at Premier Turf Club a few weeks before it was advertised as available to the general public. I'm NOT a big player, but rather a moderate, recreational player who tries hard to generate a profit. My software helps a lot, but that's another thread.

I made an initial deposit, and watched my account see-saw to the high point of triple my bankroll, a lowpoint down to 1/2 my bankroll. This week I ran a report on the PTC website and noticed that i was at 100% of my originally funded deposit. What was important about that balance is that the 100% of the original deposit was now equal to 100% of the PTC rewards that were allocated to my account.

The important thing is that without the rewards program, I'm rifling through my wallet to make another deposit.

Right after that observation, I get on a hot streak and quadruple my bankroll. I know have an ROI of $1.16 since I started at PTC, with the rewards program being a major contributor, and more importantly the rewards program gave me the opportunity to STAY IN THE GAME WITH THE SAME BANKROLL. The rewards program was my cushion against the temporary downturn curve in my game.

I'm a recreational player as I mentioned above. I only have a finite amount of time to wager. Since joining PTC, I have found myself in a situation with the cushion that I don't want to wager on any non-rewards tracks. I've pretty well given up on all the TrackNet/Magna/Churchill/NYRA non-rewards signals, and am now only playing the tracks where I have a better price, a better cushion.

If enough of us support PTC, and for godsakes I hope we all do, because we cannot let PTC fail, we will move enough handle to the "rewards" tracks, enough that it will send the other signals a message. The player (that's US), has the ability to shop around and get the best price. The product is important, but only secondary when compared to price. Just like cutting taxes (that's another argument, another thread), you generate more interest in the product at a better price that handle will increase. Since the horsemen cut of the handle is the same, they generate more revenue by churning those dollars more often. In this way we can all benefit.

Premier Turf Club
06-21-2007, 03:39 PM
Rich,

Thanks for support. I hope we can attract more PA members in the near future. This might come across as biased because obviously I have a dog in this fight, but this is the last go 'round for horseplayers than aren't what the industry would consider whales. There has NEVER been another ADW that truly caters to the average horseplayer's needs and if we go, I really doubt there will ever be again. I know we still lack the major content, but we're working hard on that everyday and upgrading the software every week. The conditional betting queue should go up next week. And if you've got a concern or a question, I answer my phone, not some customer service rep. Customers can attest to the fact that I will take their calls at 11 at night if they have a problem. I care because I am horseplayer too.

We are well into 7 figures spent on this venture and there just aren't going to be a bunch of guys willing or able to invest that again just to do something they love.

michiken
06-21-2007, 07:46 PM
Rich,

It's nice to hear that you doubled and tripled your original $10 bankroll :lol: (Just kidding of course).

Ian,

I also hope that you can add all the 'widgets' to the site (and make it the best) just to send a message as Rich states.

Once I know I can have a legal account (as per my other thread) I will join the fight.

Premier Turf Club
06-21-2007, 07:58 PM
Rich,

It's nice to hear that you doubled and tripled your original $10 bankroll :lol: (Just kidding of course).

Ian,

I also hope that you can add all the 'widgets' to the site (and make it the best) just to send a message as Rich states.

Once I know I can have a legal account (as per my other thread) I will join the fight.

You are legal with us. I honestly don't know any ADW that doesn't take MI other than Xpressbet and that is because they told the horsemen of GLD downs they wouldn't. They made the same deal with the horsemen in TX and OH.

Ian

john del riccio
06-21-2007, 08:03 PM
You are legal with us. I honestly don't know any ADW that doesn't take MI other than Xpressbet and that is because they told the horsemen of GLD downs they wouldn't. They made the same deal with the horsemen in TX and OH.

Ian

If I could only get Tony Soprano to make NJ an offer they couldn't refuse.........

Premier Turf Club
06-21-2007, 08:22 PM
If I could only get Tony Soprano to make NJ an offer they couldn't refuse.........

You've got to love these states that think they can do it themselves. The state of CT ran their OTBs into bankruptcy before Autotote bailed them out. NY is doing just as good a job with theirs.:ThmbUp:

JimG
06-21-2007, 08:51 PM
Hi Ian,

Thanks for your recent reply. Please let me know when/if you start taking accounts from VA.

Jim

Premier Turf Club
06-21-2007, 09:00 PM
Hi Ian,

Thanks for your recent reply. Please let me know when/if you start taking accounts from VA.

Jim

OK, Jim I will be glad to. Again, I apologize, it's not us, it's the state of VA. They sent us a letter about two weeks ago and then called before the CNL meet started to make sure we didn't have any Va accounts, reminding us that" VA residents can only wager with ADWs that have been specifically approved by the state of Virginia":bang:

Topcat
06-21-2007, 09:21 PM
Same for CA-the day you get approval-I'm in

exiles
06-21-2007, 09:42 PM
Ian,

I 'm also waiting for PTF to get aproved in VA so i can open an account, please let me know when and if you get approved ,do you expect to get approved?


thanks

betovernetcapper
06-21-2007, 10:53 PM
For the guys that live in non PTC states-move. :)

trying2win
06-22-2007, 03:05 AM
Rich,

Excellent thread you started here.


T2W

trying2win
06-22-2007, 03:13 AM
For the guys that live in non PTC states-move. :)

And for the PA members residing in Canada, what are you waiting for? Join PTC. I'm a Canadian and I've already joined PTC as a member. Why accept the meagre rewards at HPI?


T2W

K9Pup
06-22-2007, 08:24 AM
I'm a dog player, but I play for the rebates. I play additional wagers I wouldn't normally play, knowing they will show a slight loss over time because these wagers are rebated at a higher rate than the loss.

I agree that these rebates actually HELP horsemen, dog trainers, tracks, etc. But I can also somewhat understand why they don't necessarily LIKE them. It's my understanding that the host track usually receives about 3% of the take on bets processed by these online sites. Where bets made at the track they receive the entire 19-25% take. What they don't seem to understand is this is money I would not wager at all if I had to attend the track to place the bets.

I currently use a different site that PTC only because PTC wasn't around when I started. I am consideriing moving to PTC in the future.

DanG
06-22-2007, 08:57 AM
This is the last go 'round for horseplayers than aren't what the industry would consider whales. There has NEVER been another ADW that truly caters to the average horseplayer's needs and if we go, I really doubt there will ever be again.

We are well into 7 figures spent on this venture and there just aren't going to be a bunch of guys willing or able to invest that again just to do something they love.
You’re a good man Ian,

It takes real conviction and guts to fight through the roadblocks this industry sets up. Gupta [OPM] says you’re a man of integrity and it shows in the way you conduct your business.

Salute and keep fighting the good fight.:ThmbUp:

Cangamble
06-22-2007, 09:17 AM
I'm in Ontario. I was wondering if it is legal for me to open an account and what type of rebate I could expect if I bet on average between 200-500 a day?
I am not a fan of WEG or high takeouts as I've mentioned here before.

Premier Turf Club
06-22-2007, 09:17 AM
You’re a good man Ian,

It takes real conviction and guts to fight through the roadblocks this industry sets up. Gupta [OPM] says you’re a man of integrity and it shows in the way you conduct your business.

Salute and keep fighting the good fight.:ThmbUp:

Thanks for the kind words, from you and from Gupta. He is one of the many real good friends I've made through this game. I actually turned him on to HTR and now he is the teacher and I am the student.:)

It has been, shall we say an "interesting and eye-opening" last 9 months. Lest anyone think I was a babe in the woods coming into this, before I decided to set-up an ADW I was a bond trader and an investment banker so I've seen my share of side deals and dirty pool. I survived in those environments for 20 years so it's safe to say I'm pretty battle tested.

I think this is important for the tracks, the horsemen and the PLAYERS (as we keep telling track execs, no players - no racing) so we are in this for the long haul.