Top Secret: Golden Gate Fields cuts purses

[The_Knight_Sky]

Shhhh! Golden Gate Quietly Decreases Purses (http://cangamble.blogspot.com/2011/02/shhhh-golden-gate-quietly-decreases.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FzJEw+%28Canadian+G ambling+News+and+Issues%29)

It appears that Golden Gate has quietly decreased purses. By comparing Condition Book 2 and Condition Book 3, horsemen are now running for less. Bottom level claiming purses are around 2-4% less, while allowance races are lower by 8-10%.

For example, I noticed that an allowance non winner of one other than dropped from $34,000 to $31,000.

I can see why this has been kept quiet, there are a few 3 or 4 letter organizations that have their tails between their legs right now. The infamous takeout hike in California, which put the cart ahead of the horse, has been an abysmal failure. Not only has the higher purses not led to bigger field size (Golden Gate is down around a quarter of a horse per race this year), but it has led to an unprecedented Horseplayers Revolt that may or may not be responsible for the 20% decline in handle at Golden Gate so far this meet.

read more at CanGamble blog (http://cangamble.blogspot.com/2011/02/shhhh-golden-gate-quietly-decreases.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FzJEw+%28Canadian+G ambling+News+and+Issues%29)

[Robert Goren]

We now see that raising takeout rates will hurt the handle enough that total revenue is impacted negative. I hope some place will actually cut takeout rates on pools that gamblers actually do most of their wagering in, not just some once or twice a day pool, so we can show them that it increase handle enough that total revenues go up. Cuts in things like P5 pool rates are being used as "loss leaders" hoping that once you handicap the races involved in that pool, you will then bet into some of the other pools. Win, exacta and super pools are where most of the money is being wagered and they are on almost every race on the card. There is one P5 pool a day. Don't be fooled into wagering at a track that has a great deal on one or two pools a day and rips you in the bread and butter pools.

[Charli125]

Shhhh! Golden Gate Quietly Decreases Purses (http://cangamble.blogspot.com/2011/02/shhhh-golden-gate-quietly-decreases.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FzJEw+%28Canadian+G ambling+News+and+Issues%29)

It appears that Golden Gate has quietly decreased purses. By comparing Condition Book 2 and Condition Book 3, horsemen are now running for less. Bottom level claiming purses are around 2-4% less, while allowance races are lower by 8-10%.

For example, I noticed that an allowance non winner of one other than dropped from $34,000 to $31,000.

I can see why this has been kept quiet, there are a few 3 or 4 letter organizations that have their tails between their legs right now. The infamous takeout hike in California, which put the cart ahead of the horse, has been an abysmal failure. Not only has the higher purses not led to bigger field size (Golden Gate is down around a quarter of a horse per race this year), but it has led to an unprecedented Horseplayers Revolt that may or may not be responsible for the 20% decline in handle at Golden Gate so far this meet.

read more at CanGamble blog (http://cangamble.blogspot.com/2011/02/shhhh-golden-gate-quietly-decreases.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FzJEw+%28Canadian+G ambling+News+and+Issues%29)

By my calculations, they're off roughly 2 million in revenue. It's hard to calculate because we don't know the split of handle, or how much of the increase they're actually getting for purses, but 2 million would be safe. At some point you have to cut purses.