Dumb ADW Question

[Gallop58]

Can an ADW run their own pari-mutuel pool, say if they wanted to create a specialty bet? Of course, to not run a foul of your signal suppliers you'd have to appease them, but I'm just wondering in theory, whether it can be done.
(Or is this a donkey question, ie. "of course they can't because.....")

[rrbauer]

ADW's are intermediaries and agents for the host track. They are "middle men". I suppose that if they were licensed to run pari-mutuel pools in the state where they are located they could do it.

[startngate]

If licensed in Oregon they can.

AmericaTab once had a daily double with a thoroughbred and a harness race in it. Can't remember the details, but I think one leg was at Belmont and the other at Northfield. Only available through them.

Not sure about any of the other jurisdictions.

[ezrabrooks]

If licensed in Oregon they can.

AmericaTab once had a daily double with a thoroughbred and a harness race in it. Can't remember the details, but I think one leg was at Belmont and the other at Northfield. Only available through them.

Not sure about any of the other jurisdictions.

How would they figure take out on a wager like that?

[startngate]

If a seperate pool is created, any ADW in OR would have to follow the OR law (462.140 subs 2) which stipulates that the takeout can be no higher than 22%.

http://www.leg.state.or.us./ors/462.html

If I'm interpreting it correctly then an ADW should be able to set it to whatever it wanted to, at or below that rate, but the Commission does have to approve it.

If the ADW is in another State that allows creation of a seperate pool, then that State's takeout law would apply.

[Dave Schwartz]

I wonder if that would allow them to have a "bet fair" system.

You know, that might well save that company.

[Gallop58]

In a related matter, I just read an article in Fast Company about banks trying to get people to save more (as a PR ploy, they don't make much money by giving you interest!), but it was interesting how much the tactics reminded me of breakage (just that they are returning "breakage to the customers". They're now doing things like rounding up your withdrawls or adding an extra dollar on every transaction that goes into a special savings account, to help people save. So my little brain gets thinking....If an ADW can hook up with any sort of related financial institution or high transaction count financial enterprise (credit card comapny?) and flow little bits of money into betting accounts (The PTC visa card?), people will bet that money and maybe some will bet some other hard earned money and the game can grow. Growth by going after the same old people seems a pretty limited way of growing.... And the idea based on the start of the thread would be that you now have a pool of money, you run your own mutuel pool and give a slice to the tracks (after all this is "found" money to them) You might even be able to get a sweetheart OTB type deal before the neanderthal tracks figure out whats what.... Anyway... Just a thought. Feel free to steal, pick on, mock or ridicule...

Cheers,

KH

[rrbauer]

Removing the "breakage" process from horse racing payoffs (except for the necessary rounding down in the calculation to remove mils) would provide about $150 million more in annual returns to horseplayers. And most of that money would end up in the handle of subsequent races.

And without any other gimmicks!

[Gallop58]

Sure but I'm still holding my breath. Wake me up when you work that out :sleeping: :)

I'm talking about hooking up with guys like ebay, paypal, some hungry non-NA credit company trying to make inroads in the US, a frequent flier rewards program, any internet financial site, etc. etc....

Increase the A-DEPOSITS-W and you'll increase the A-D-WAGERS

And we all know its harder to get people to start betting $1000, than it would be to get 10,000 to bet .10 IF ITS MADE VERY VERY EASY FOR THEM.

For example, I use my debit card way too much.... If I got an email saying you've earned $1 of "ADW rewards points" this month, would you like to redeem them with a quick pick on the 4th at Fort Erie, I'd "click here" for sure....And isn't that what y'all want: "dumb money"

Seems self evident to me.....(Historically not a reliable indicator of genuine value!)

Anyway , just sitting here avoiding my day job, so this prattle is worth about as much as I'm being paid to write it.

Cheers,

KH