Hastings Park Lowers Show Takeout to 12%

[trying2win]

According to the article at the link below, Hastings Park has reduced its takeout on show bets to 12%. While I applaud this move, I'd like to see it applied to win and place betting as well, then I might consider playing Hastings Park again.

Seems kind of strange that Hastings Park is only lowering the takeout on show bets though. I rarely bet to show, so that particular takeout reduction doesn't really interest me that much.

Perhaps some bettors who like betting win-place combos on Hastings Park races, might be tempted to bet win-show instead in the future. Plus, only nickel breakage applies to parimutuel payoffs at Canadian racetracks. Maybe some shrewd bettors will find some good spot plays with show betting at Hastings Park now. Good luck to them.

If Hastings Park issues a statement later on that show betting is up substantially, maybe a light bulb will go on with executives at other racetracks, and hopefully they'll follow suit with takeout reductions on all straight bets, not just show bets.


http://news.bloodhorse.com/article/46672.htm?id=46672


T2W

[Cangamble]

According to the article at the link below, Hastings Park has reduced its takeout on show bets to 12%. While I applaud this move, I'd like to see it applied to win and place betting as well, then I might consider playing Hastings Park again.

Seems kind of strange that Hastings Park is only lowering the takeout on show bets though. I rarely bet to show, so that particular takeout reduction doesn't really interest me that much.

Perhaps some bettors who like betting win-place combos on Hastings Park races, might be tempted to bet win-show instead in the future. Plus, only nickel breakage applies to parimutuel payoffs at Canadian racetracks. Maybe some shrewd bettors will find some good spot plays with show betting at Hastings Park now. Good luck to them.

If Hastings Park issues a statement later on that show betting is up substantially, maybe a light bulb will go on with executives at other racetracks, and hopefully they'll follow suit with takeout reductions on all straight bets, not just show bets.


http://news.bloodhorse.com/article/46672.htm?id=46672


T2W
When you take breakage into consideration, betting to show is the lousiest play there is. Even with a 12% takeout, it still is the same as around 15-16% when you take breakage into consideration.

[lamboguy]

they did not lower the takeout on show betting for the players benefit. they did it to cut back the amount of action they get on bridgejumping. when they lower the takeout that means the commision is less on rebates. that is the only reason they lowered the rates on show betting. but it certainly sounds like they are the greatest thing since swiss cheese.

[highnote]

they did not lower the takeout on show betting for the players benefit. they did it to cut back the amount of action they get on bridgejumping. when they lower the takeout that means the commision is less on rebates. that is the only reason they lowered the rates on show betting. but it certainly sounds like they are the greatest thing since swiss cheese.

How will lowering show prices affect bridgejumping? There is still a minimum payout on a winning show bet. Plus, I'm not sure rebates are paid when there are minus pools. In fact, (correct me if I'm wrong) ADWs have to make up the difference for their share of the minus pools which I believe they get from the player who made the bets. But I don't know that for sure. Maybe someone here has the answer.

[Cangamble]

they did not lower the takeout on show betting for the players benefit. they did it to cut back the amount of action they get on bridgejumping. when they lower the takeout that means the commision is less on rebates. that is the only reason they lowered the rates on show betting. but it certainly sounds like they are the greatest thing since swiss cheese.
I highly doubt many whales bet to show at Hastings. What are their show pools anyway? I haven't looked, but they must be pathetic.

They lowered takeout in an attempt to get more people to handicap Hastings (just a gimmick), and most probably to get more churn from the new slot crowd (which is usually older people who might tend to bet show if they go to the race track side of the track).

[lamboguy]

i bet the show pools there a few monday's ago when they had british columbia sire stakes.

i kinda don't think they like what i did to them that day

[ryesteve]

i kinda don't think they like what i did to them that dayThank god they were able to act in time before you could strike again... :rolleyes:

[lamboguy]

they are chickens hiding behind their slot machines.

[lamboguy]

some rebate shops are responsible for the minus pools and others aren't/ in pokono downs this week you had a bridgejump of over $200k on a horse with little hedge to the pool.

[highnote]

you had a bridgejump of over $200k on a horse with little hedge to the pool.

I don't understand what you mean by "little hedge to the pool". Can you explain that? Thanks.

[46zilzal]

Shakespeare told us of a similar situation when he called his play: Much Ado About Nothing, which is effectively what this is.

ONE good thing, they are finally carding 9 furlong, non-stakes races again. I applaud that but have a difficult time "hand holding" that heavy camera (I have the extra weight of a radio frequency transmitter to carry) makes it "wiggle."

[46zilzal]

I highly doubt many whales bet to show at Hastings. What are their show pools anyway? I haven't looked, but they must be pathetic.


While they are not everyday findings, we have some very big bettors in the Chinese community here and the Canadian Parimutuel overseers have told me about a few over the season.

[lamboguy]

if you get a rebate on a minus show pool, you can bet say $100,000 on the main horse with all the show money on it, if this horse runs 1-2-3 you collect $105,000 for the bet, plus whatever the rebate is say 7% you now have collected $112,000,,,,you bet the other 5 horses in the race for $1000 each, 2 of them you will always collect on, if the one with the big money runs out you collect on all 3. you should be able to get most of your $100k back, the payoffs could be $40-$60 or even higher.

[trying2win]

When you take breakage into consideration, betting to show is the lousiest play there is. Even with a 12% takeout, it still is the same as around 15-16% when you take breakage into consideration.

CANGAMBLE:

As a general rule, I think your estimate of 15-16% takeout is exaggerating the point a bit. But, you are correct regarding the effect about breakage making the real takeout higher when it comes to the actual calculation of the show payoffs. The real takeout on show bets has a higher percentage takeout on favorites than longshots. A long time ago, I read this fact in print, when the writer of the article took the show pools from an actual or imaginary race, then calculated the percentage increase in the takeout because of the effect of breakage. Would be nice if a PACE ADVANTAGE member could give us an example of this from a race at HASTINGS PARK this coming weekend.

I've seen that the parimutuel pool totals are available after a race at any track they cover at www.ebetusa.com (http://www.ebetusa.com/) , and I don't even have an account there. Plus, I believe EBETUSA has HASTINGS PARK on their betting menu.

Thanks,

T2W

[highnote]

if you get a rebate on a minus show pool, you can bet say $100,000 on the main horse with all the show money on it, if this horse runs 1-2-3 you collect $105,000 for the bet, plus whatever the rebate is say 7% you now have collected $112,000,,,,you bet the other 5 horses in the race for $1000 each, 2 of them you will always collect on, if the one with the big money runs out you collect on all 3. you should be able to get most of your $100k back, the payoffs could be $40-$60 or even higher.


If you get a rebate then your example makes sense.

However, I was under the impression that rebate ADWs do not give rebates on minus pools.

Can anyone confirm this?

[Cangamble]

If you get a rebate then your example makes sense.

However, I was under the impression that rebate ADWs do not give rebates on minus pools.

Can anyone confirm this?
I think some offshore houses don't give much of a rebate on show bets regardless.

[lurker]

I have caused pools to go minus and not only did I not get a rebate, but I was billed by the shop.

[highnote]

I have caused pools to go minus and not only did I not get a rebate, but I was billed by the shop.

That is my understanging of how show betting works with ADWs of which give rebates.

[lamboguy]

i used to bet with tonkowa, irg, and i never had a problem with minus pools. some of the south dakota operations get charged. i think the big places still pay them as well.