1% rebate for CA players

[chickenhead]

http://www.goldengatefields.com/ThoroughbredFanClub/significant.htm

First I had heard of this.

Beginning February 1, 2007, the California Thoroughbred and Fair industry is offering a new program to reward our very best players. The program will reward those players who wager $20,000 and above in a single month with a wagering voucher in the amount of 1% of the total points earned for each qualifying month.

[DeanT]

California has gone to rebates?

Hell has frozen over.

[bigmack]

An interesting toe in the water from the Golden State. Darn shame the piggie they're offering is represented by a scant pinky in 1%. The current marketplace of rebates dwarfs this knack.

If I on average throw 15K/mo their way should I now stake 20K for a come back of 2hun? Not bloody likely.

[DeanT]

I think the tracks there should, in good faith, put all the money they get in volume discounts - say when they buy cardboard cups for soda they order 50K worth and the cup company gives them back 5K for the bulk order - into rebates :)

Seriously, tho, CA has been standing on this somehow in principle for so long. Even 1% is like the dam breaking there, imo. This is a good thing, even if many players can't take advantage of it, and the rebate is small. Baby steps in a game that takes very long to change.

[rrbauer]

Bet $240K in a year and get back $2.4K?

Should I laugh or cry?

[boomman]

Bet $240K in a year and get back $2.4K?

Should I laugh or cry?

BOTH:lol: Maybe you would get a toaster for 1 mil in wagers:D

Boomer

[betovernetcapper]

I glanced at this last night and thought, 1% isn't much but GG has a low win take out, and it is a crack in the wall so......................
.
I looked at it this morning and this is 1% on all your action, so bets on other tracks that should have a 5-10% rebate will only get 1%. Even on exotic bets on tracks with very high take outs will only yield 1%
.
Who is this supposed to attract?

[kenwoodallpromos]

Bet $240K in a year and get back $2.4K?

Should I laugh or cry?
"A $50 wagering voucher would not be awarded until a patron gambled $10,000."
$240k wagered will earn you a rebate of $1,200.00 according to the press release. The 1% is points toward discounts or merchandise, which is lousty already. But at leas they are doing something for bid spenders who they consider "best players". I guess "best" does not neccesarily mean good handicappers.

[chickenhead]

Well you know how this ends...."We TRIED rebates, and found they didn't work."

[trigger]

Rebates were illegal in California.....did they change the law?

[Track Collector]

I agree with others. This 1% is better than nothing, but is clearly targeted for customers who do not know they can do significantly better elsewhere. As some businesses might say, "An uneducated consumer is our best customer".

Also remember that the effective yearly rebate will be less than 1% if you fail to meet the minimum amount in one or more months. This is another reason why YEARLY handles should be the basis for rebates rather than MONTHLY handles. Forcing yourself to make more wagers in a month when you are "close" to the rebate minimum usually is bad news and results in less funds in your pocket at the end of the month.

[betovernetcapper]

I have an old IRG rate sheet, and for fun I figured out what the difference would be between the GG 1% and IRG.
There are 17 TB tracks going today 9 of which are listed on the IRG rate card.
.
If a player bets $20,000 win and exacta with those 9 tracks through GG today, he'd get a rebate of $200 .
.
If a player bets $20,000 win and exacta with those 9 tracks through IRG , he could expect a rebate of $2440 . I'm not advocating opening an IRG account but the 1% is a joke.

[prospector]

start wearing your PTC hats at the track...i always wear mine..

[Hosshead]

start wearing your PTC hats at the track...i always wear mine..
In Calif. there's no PTC and from Ian's other post it looks like not in the foreseeable future.
So unfortunately it's the S.O.L. hats for us ! (1% is an insult)

[rrbauer]

In Calif. there's no PTC and from Ian's other post it looks like not in the foreseeable future.
So unfortunately it's the S.O.L. hats for us ! (1% is an insult)

I have a bunch of those hats!

[theiman]

http://www.goldengatefields.com/ThoroughbredFanClub/significant.htm

First I had heard of this.

Just curious :confused:

The article had a start date of Feb 1st 2007. Which was 10 months ago.

Is this an old link and something that didnt get CHRB approval? I dont see any info on this stuff on any site, equidaily, DRF, Calracing, Bloodhorse, etc. You would think it would be mentioned somewhere else tog et the word out.

[chickenhead]

I don't know, thats why I posted it here.

I'll give that person a call and get the low-down.

[jillybeans]

A 1% rebate....another insult from a Crap-net listed track.:lol: :D