Dime breakage

[markum77]

Over a series of 100 bets to place and all winners. How much more would you expect to get befause of dime breakage...figuring half would get an extra dime, think it would be 50 x .10 or an extra $5 for bets of 100 X $2.00.

What tracks do dime breakage?

[rrbauer]

Over a series of 100 bets to place and all winners. How much more would you expect to get befause of dime breakage...figuring half would get an extra dime, think it would be 50 x .10 or an extra $5 for bets of 100 X $2.00.

What tracks do dime breakage?

Are you replacing dime breakage with no breakage in your example?

All of the US tracks except NYRA tracks break to the dime. Generally, on low payouts, NYRA breaks to the nickel. I believe Canadian tracks break to the nickel, also.

[Red Knave]

How much more would you expect to get because of dime breakageYou mean 'How much less would you get'. The only time you get more is when the payoff would be less than $2.20. The payoff is rounded down, never up. It's called 'breakage' because it can break you.

[SMOO]

On a $20 bet you get an extra $1 about every second payoff.

9.15 becomes 9.10 instead of 9.00

9.05 remains 9.00

[Brogan]

Dime breakage results in a 5% average reduction in your return, nickel breakage results in a 2.5% average reduction in your return.

[ryesteve]

Dime breakage results in a 5% average reduction in your return, nickel breakage results in a 2.5% average reduction in your return.This math isn't right... the percentage depends on what the odds are. Getting an extra dime over $2.20 is way different than getting an extra dime on $27.40

[kenwoodallpromos]

With a set amount of breakage on all payoffs, it favors longer odds payioffs and rtelatively punishes those betting on lower odds horses.

[Red Knave]

On a $20 bet you get an extra $1 about every second payoff.

9.15 becomes 9.10 instead of 9.00

9.05 remains 9.00
With dime breakage all of the above become $9.00. With nickel breakage, you're right.
Remember, it's .10 breakage on a dollar and all payoffs are to 2 dollars.

[Cangamble]

Over a series of 100 bets to place and all winners. How much more would you expect to get befause of dime breakage...figuring half would get an extra dime, think it would be 50 x .10 or an extra $5 for bets of 100 X $2.00.

What tracks do dime breakage?
Here you go:
http://cangamble.blogspot.com/2009/02/horseplayers-dont-get-any-breakages.html

[Brogan]

This math isn't right... the percentage depends on what the odds are. Getting an extra dime over $2.20 is way different than getting an extra dime on $27.40

It's not a percentage of the payout, its a percentage of your original wager. Whereas takeout is applied to all wagers, breakage only comes to bear on winning bets.

[ryesteve]

It's not a percentage of the payout, its a percentage of your original wagerExpressing it as a percentage of your original wager tells you nothing about how it affects your bottom line, which I would assume is the point of this thread.

[Brogan]

Expressing it as a percentage of your original wager tells you nothing about how it affects your bottom line, which I would assume is the point of this thread.

If you're not comparing your bottom line to your original wagers, what are you comparing to?

If you wind up with $1000 at the end of the day and you started with $100, you had a pretty good day. If you started with $2000, you had a pretty bad one.

[rrbauer]

Regardless of what you campare it to, breakage is theft. It amounts to $150 million dollars per year (which is grand theft!) that belongs to horseplayers'.

There is no business or process-based justification for it now that computers calculate all of the payoffs and now that the majority of bet settlements with players do not involve cash. The only reason it exists is that it is in place, and the people who are receiving the proceeds are not about to voluntarily give it up.

[Brogan]

Someone on another thread made the good point that breakage is currently in the revenue stream for the track or the breeders' association or the state. If breakage were to be eliminated, the lost revenue would need to made up elsewhere....and it'd still come from the bettor.

[Cangamble]

Breakage costs 9.5 cents per every $2 cashed bet on average at tracks which round to the 20 cents.
It costs 4.5 cents on average per every $2 cashed bet on average at tracks which round to the dime.

If you bet show, it costs much more on a percentage basis versus those that play tri's exes, and supers.

[kenwoodallpromos]

Someone on another thread made the good point that breakage is currently in the revenue stream for the track or the breeders' association or the state. If breakage were to be eliminated, the lost revenue would need to made up elsewhere....and it'd still come from the bettor.
Or else enough new bettors or more recycled dollars would make up for it.

[chickenhead]

Dime breakage results in a 5% average reduction in your return


It's not a percentage of the payout, its a percentage of your original wager. Whereas takeout is applied to all wagers, breakage only comes to bear on winning bets.

It is not a 5% average reduction in your return, was his point. No one calls their original wager amount their return.

[DSB]

Deja Vu all over again....

[SMOO]

Regardless of what you campare it to, breakage is theft. It amounts to $150 million dollars per year (which is grand theft!) that belongs to horseplayers'.

There is no business or process-based justification for it now that computers calculate all of the payoffs and now that the majority of bet settlements with players do not involve cash. The only reason it exists is that it is in place, and the people who are receiving the proceeds are not about to voluntarily give it up.
:ThmbUp:

It's funny how they can pay dime supers down to the penny but it's "too much trouble" to pay everything that way.