State of New York increases takeout 1% on all wagers

[Quesmark]

NY Daily News

By Jerry Bossert

TRIPPED UP: In case you thought the payoffs were a little shorter yesterday[9/17/2008], you were correct.
Thanks to the bill that transferred ownership of the failing New York City Off-Track Betting Corporation (http://www.nydailynews.com/topics/York+City+Off-Track+Betting+Corporation) to the state in June, one of the provisions called for an increase in the takeout by 1% on all bets made at the three New York (http://www.nydailynews.com/topics/New+York) tracks and it started yesterday. The provision will sunset after two years, but once again the player is left bailing out the game. Sort of like Wall Street (http://www.nydailynews.com/topics/Wall+Street).
link:
http://www.nydailynews.com/sports/more_sports/2008/09/17/2008-09-17_the_day_at_the_races.html

NY Post
By ED FOUNTAINE

Posted: 2:53 am
September 18, 2008

What business in the U.S. treats its customers with more contempt than horse racing? Yesterday, an across-the-board increase of 1% was added to already onerous takeout on all wagers on NYRA races, making takeout in NY State one of highest in the nation.
link:
http://www.nypost.com/seven/09182008/sports/horseracing/through_the_binocs_129580.htm

[OTM Al]

To set the record straight, let's attribute the takeout increase to the party that controls the takeout at NYRA track, the State of New York.

[Cangamble]

To set the record straight, let's attribute the takeout increase to the party that controls the takeout at NYRA track, the State of New York.
It doesn't matter who is responsible. I won't bet a dime on NYRA tracks until they wakeup and reduce the takeouts.
I'd like to see HANA take a stand here too.
I know it is tough for those in NY to boycott NY tracks, but since I don't live in NY, I will have no problem keeping this stance.

[OTM Al]

Yes it does matter who is responsible. The proper party needs to be blamed for what they did. NYRA needs to be blamed for their faults and the State for theirs. If we want to make changes, we need to address those responsible for what we want changed. Otherwise we do nothing but howl at the moon.

[trigger]

NY Daily News

By Jerry Bossert

TRIPPED UP: In case you thought the payoffs were a little shorter yesterday[9/17/2008], you were correct.
Thanks to the bill that transferred ownership of the failing New York City Off-Track Betting Corporation (http://www.nydailynews.com/topics/York+City+Off-Track+Betting+Corporation) to the state in June, one of the provisions called for an increase in the takeout by 1% on all bets made at the three New York (http://www.nydailynews.com/topics/New+York) tracks and it started yesterday. The provision will sunset after two years, but once again the player is left bailing out the game. Sort of like Wall Street (http://www.nydailynews.com/topics/Wall+Street).
link:
http://www.nydailynews.com/sports/more_sports/2008/09/17/2008-09-17_the_day_at_the_races.html

NY Post
By ED FOUNTAINE

Posted: 2:53 am
September 18, 2008

What business in the U.S. treats its customers with more contempt than horse racing? Yesterday, an across-the-board increase of 1% was added to already onerous takeout on all wagers on NYRA races, making takeout in NY State one of highest in the nation.
link:
http://www.nypost.com/seven/09182008/sports/horseracing/through_the_binocs_129580.htm

????????????????
Posted: Friday, August 22, 2008 3:59 PM (Thoroughbred Times article)
New York takeout increase put on hold
http://www.thoroughbredtimes.com/national-news/2008/August/22/New-York-takeout-increase-put-on-hold.aspx

[Zman179]

It doesn't matter who is responsible. I won't bet a dime on NYRA tracks until they wakeup and reduce the takeouts.

Oh what a load of self-serving bullsh*t this statement is. :bang:
Even with the 1% increase in takeout, which was opposed by NYRA and was rather IMPOSED by the State of New York, they STILL have the lowest takeout in North America for Exactas, Quinellas and Doubles, and is below the industry average for WPS.

Ed Fountaine's statement that, "...takeout in NY State one of highest in the nation," really proves that he's got zero in the clue department.

[Bruddah]

Yes it does matter who is responsible. The proper party needs to be blamed for what they did. NYRA needs to be blamed for their faults and the State for theirs. If we want to make changes, we need to address those responsible for what we want changed. Otherwise we do nothing but howl at the moon.

The state is trying to recoup some of the bail out money given to NYRA.

No skin out of my wallet, I haven't played NYRA tracks for over three years. :ThmbDown:

[Zman179]

Trigger is right. I do remember that the takeout provision was delayed. Boy, Fountaine and Bossert really look like a couple of mules now.

[OTM Al]

No, that was the other and even more ridiculous part of the bill in which people in NY were going to have an additional 1% increase on out of state takeout. They realized it wasn't going to work, so put the kibosh on it. The state track takeout remains. NYRA is rebating the 1% to its Rewards cutomers BTW

[Zman179]

No, that was the other and even more ridiculous part of the bill in which people in NY were going to have an additional 1% increase on out of state takeout. They realized it wasn't going to work, so put the kibosh on it. The state track takeout remains. NYRA is rebating the 1% to its Rewards cutomers BTW

True. Still, Bossert's statement that, "in case you thought the payoffs were a little shorter yesterday[9/17/2008], you were correct," is so f-ing stupid. Like someone is going to say, "HEY! That horse paid $9.70 when it should've paid $9.80."

[takeout]

If the takeout chart I’m looking at is right, NY will now have a higher takeout on tris, supers, and all pick bets, than Charles Town does! Never thought I’d see the day when major tracks would have higher takeouts on many of their exotic bets than bullrings like CT.

[Cangamble]

Oh what a load of self-serving bullsh*t this statement is. :bang:
Even with the 1% increase in takeout, which was opposed by NYRA and was rather IMPOSED by the State of New York, they STILL have the lowest takeout in North America for Exactas, Quinellas and Doubles, and is below the industry average for WPS.

Ed Fountaine's statement that, "...takeout in NY State one of highest in the nation," really proves that he's got zero in the clue department.
Hey I'm just stating fact. I will not play another New York race until they start dropping takeouts.
I realize they have lower takeouts still than many jurisdictions, but I will not play New York on principle, and it will be easy for me.
I don't play California because of their refusal to be carried by PTC.

I can only play a few tracks a day anyway....time and effort required do have restrictions. So it is simple for me to pick and choose.

Would I rather play California or New York over Turfway, Mountaineer, Suffolk, Fort Erie and Monmouth.....probably.
Am I suffering? Not in the least.

[Cangamble]

True. Still, Bossert's statement that, "in case you thought the payoffs were a little shorter yesterday[9/17/2008], you were correct," is so f-ing stupid. Like someone is going to say, "HEY! That horse paid $9.70 when it should've paid $9.80."
Takeout has long term consequences. If all tracks increased takeouts by 1%, the cost to me for the year is around $3,000 to $4,000.
Sorry, but I'm looking to increase my profit potential, not decrease it.

[garyoz]

The state is trying to recoup some of the bail out money given to NYRA.

No skin out of my wallet, I haven't played NYRA tracks for over three years. :ThmbDown:

I do not remember a cash infusion of tax payer money coming into NYRA. They were always cash flow positive and continued to make payments to the state during the reogranization. The term "bailout" is being used much too liberally these days.

[Tom]

You can beat the takeout easily - just lose.

[Bruddah]

I do not remember a cash infusion of tax payer money coming into NYRA. They were always cash flow positive and continued to make payments to the state during the reogranization. The term "bailout" is being used much too liberally these days.

If forgiveness of debt, of monies, which was owed to State coffers is not a "Bailout", then I stand corrected. :D

[Spendabuck85]

Kentucky may be next.

http://www.drf.com/news/article/98369.html

Members of a task-force subcommittee appointed by Kentucky Gov. Steve Beshear said Thursday that the state should consider raising parimutuel takeout to close a budget shortfall for the Kentucky Horse Racing Commission.

Other recommendations for increasing funding for the commission included using uncashed betting vouchers; increasing the fees paid by tracks to the commission; taxing bets placed through account-wagering operations; charging owners for each horse who starts in the state; and dedicating the sales tax paid on claimed horses to the commission, according to subcommittee members.

[garyoz]

If forgiveness of debt, of monies, which was owed to State coffers is not a "Bailout", then I stand corrected. :D

Documentation please?? / :D

[thespaah]

Takeout has long term consequences. If all tracks increased takeouts by 1%, the cost to me for the year is around $3,000 to $4,000.
Sorry, but I'm looking to increase my profit potential, not decrease it.
No offense intended here. But if one boycotts every track that takes out a slightly higher (perception of the individual) percentage, they'd end up betting nothing.
I don't care for higher takeouts any more than the next guy does. But this is what it is. Until we get the ear of every racing jurisdiction in the US and Canada and tell them we are not betting another dime, this anti-takeout thing goes nowhere. Unity amongst the bettors is the only way takeouts and other injustices will get noticed.

[Charlie D]

Until we get the ear of every racing jurisdiction in the US and Canada and tell them we are not betting another dime, this anti-takeout thing goes nowhere.



Can you go a week or two without placing a bet???

[Zman179]

Can you go a week or two without placing a bet???

I could, but my wife says that I froth at the mouth after three days.

[Charlie D]

I could, but my wife says that I froth at the mouth after three days.

:)



Don't understand all the in's and out's, but from where i'm sat it seems the US racing industry just takes pee out of US bettors and they will continue to do so unless you act



The $ talks louder than words, get organised and take it away for a day or two imo

[Bruddah]

I do not remember a cash infusion of tax payer money coming into NYRA. They were always cash flow positive and continued to make payments to the state during the reogranization. The term "bailout" is being used much too liberally these days.

If you know something the rest of us don't, then spill it. Google it for yourself. We all are open to more informtion you might provide.

[thespaah]

Can you go a week or two without placing a bet???I could if meant we'd be treated better.