California Associations ask TOC to lower takeout!

[andymays]

http://www.nctimes.com/sports/equestrian/racing/article_09c452c7-0e7d-533e-b631-5a08d62ce885.html

Excerpt:

DEL MAR ---- Santa Anita and Hollywood Park have asked the Thoroughbred Owners of California to lower the takeout on daily doubles, exactas and quinellas on an experimental basis at their upcoming fall meets, according to a letter obtained by the North County Times late Saturday night.

The Pacific Racing Association (Santa Anita) and Hollywood Park Fall Racing Association want daily doubles to be lowered from a 22.68 percent takeout to 15.43 ---- the same as a win, place or show bets, which are the nation's lowest ---- and they want exactas and quinellas lowered from 22.68 to 21.68.

The two racing associations are also asking for 50-50 split on the new 50-cent pick five wager. The TOC now receives a higher percentage of the profits from the bet than the tracks do.

[Canarsie]

Just a hunch but the experimental part if approved has to be so the TOC can save face.

If they don't accept this the nail in the coffin just got deeper.

[mannyberrios]

Let us pray!

[so.cal.fan]

This is very good news!
Thanks to all of you who have been fighting for us on this issue!

[toussaud]

wait wait wait hold up
]

explain to me why the TOC should get a dime of anything that they don't run themselves? why does santa anita have to give the TOC 50% of it's profits for a race that santa anita holds? WTF

[andymays]

wait wait wait hold up
]

explain to me why the TOC should get a dime of anything that they don't run themselves? why does santa anita have to give the TOC 50% of it's profits for a race that santa anita holds? WTF

That goes to purses not directly to the TOC.

[BillW]

wait wait wait hold up
]

explain to me why the TOC should get a dime of anything that they don't run themselves? why does santa anita have to give the TOC 50% of it's profits for a race that santa anita holds? WTF

Presently HOL is footing the bill for the lower rake on the pk-5 (@14%). They are paying the TOC as if the rake was 23.68% and making very little themselves. They aren't asking the TOC to take more money :) .

[andymays]

Presently HOL is footing the bill for the lower rake on the pk-5 (@14%). They are paying the TOC as if the rake was 23.68% and making very little themselves. They aren't asking the TOC to take more money :) .

This ended up being the final straw for the Tracks. The TOC actually did Horseplayers a favor by shaking the tracks down. Now the Tracks are on our side.

[rwwupl]

This is very good news!
Thanks to all of you who have been fighting for us on this issue!


California racing will always do the right thing, after exhausting all other possibilities.

rw

[Stillriledup]

I'm not a math professor, but riddle me this Batman's, if the takeout is 20.68 percent and you raise it TWO points to 22.68 and then lower it to 21.68, isnt that a RISE of 1 percent and not a DROP of 1 percent?

So, who's to say they only originally planned on raising take 1 percent, but raised it TWO percent so when they dropped it, people would be 'thankful' at the 'drop' in takeout?

[Canarsie]

Once again we should tip our hats to a few individuals who chose to put up the "fight". If you would have rolled this back when the increase was passed into law one would never think that this would have been an end result. Now the tracks want more to take it a few steps further.

I wonder what their reply will be if there's an election soon?

[toussaud]

I'm not a math professor, but riddle me this Batman's, if the takeout is 20.68 percent and you raise it TWO points to 22.68 and then lower it to 21.68, isnt that a RISE of 1 percent and not a DROP of 1 percent?

So, who's to say they only originally planned on raising take 1 percent, but raised it TWO percent so when they dropped it, people would be 'thankful' at the 'drop' in takeout?
but they are lowering DD takeout to WPS level. that's pretty good

[so.cal.fan]

I only play the win pools, but if the takeout is lowered to the same level for the daily doubles.....I'm in.
Be great if they had rolling doubles.
This will be a very good deal. :ThmbUp:

[Stillriledup]

but they are lowering DD takeout to WPS level. that's pretty good

That is good, for sure.

[andymays]

http://www.insidesocal.com/horseracing/2011/07/there-are-some-in-the.html

Excerpt:

There are some in the industry who think the Horseplayers Association of North America is a group of crying bettors who should just shut up, wager and be happy with the status quo.

Apparently, track management is not among them.

[takeout]

I'm not a math professor, but riddle me this Batman's, if the takeout is 20.68 percent and you raise it TWO points to 22.68 and then lower it to 21.68, isnt that a RISE of 1 percent and not a DROP of 1 percent?

So, who's to say they only originally planned on raising take 1 percent, but raised it TWO percent so when they dropped it, people would be 'thankful' at the 'drop' in takeout?Agree. I’m no math head either but it looks like the old “gas pump two-step” to me.

While I applaud the possible lowering of the DD’s, the “okey doke”, as you pointed out, is the continued RAISE IN TAKEOUT in the other two-horse bets which handle about 5 times more money.

Until tracks stop the BS and reduce takeouts to reasonable levels ACROSS THE BOARD they’re just blowing smoke and they know it.

[andymays]

http://www.nctimes.com/sports/equestrian/racing/article_10b5ecfd-5e30-5945-b6ff-c08887eee1b4.html

Excerpt:

Lower takeout?

"We feel the takeout on those bets needs to come down," Harper said. "How much is open to negotiation. We need to talk to horsemen. I think they have an open mind. I don't see their feet in cement.

"I don't know if we can do anything this year. I guess there is (a chance) if there is a figure we both like. There are five weeks left in the meet. All we have to do is flip a couple of switches in the tote room."

[andymays]

http://www.drf.com/news/california-tracks-look-reduce-takeout-doubles-exactas

Excerpt:

Under the proposal, the takeout on exactas and quinellas would be reduced from 22.68 percent to 21.68, and the takeout on daily doubles would plunge from 22.68 percent to 15.43, the equivalent to current takeout rates for win, place and show bets.

“I think the 1 percent on the exacta is the number one issue out there,” Haines said. “We think the daily double is a struggling pool. If we can get the daily double to 15.43, that would bring attention to the bet.”

Excerpt:

TOC president Lou Raffetto said his organization is reviewing the proposal. “We’ll see what makes sense and come up with a position that works for the industry,” he said.

“We’re not going to sit on our hands for a long time on this. We’ll try to move in a common sense way. When all said and done I think there is something that will be modified. That’s my opinion.”

[DJofSD]

Thanks, Andy.

I'm not going to hold my breathe.

[maddog42]

Agree. I’m no math head either but it looks like the old “gas pump two-step” to me.

While I applaud the possible lowering of the DD’s, the “okey doke”, as you pointed out, is the continued RAISE IN TAKEOUT in the other two-horse bets which handle about 5 times more money.

Until tracks stop the BS and reduce takeouts to reasonable levels ACROSS THE BOARD they’re just blowing smoke and they know it.

ANY lowering of takeout is good. It doesn't matter if it is to a previous high.

[takeout]

ANY lowering of takeout is good. It doesn't matter if it is to a previous high.It’s above the previous high, which was already too high. Any place that calls itself a major oval and has takeout over 20% on two horse bets (and that’s too high) has no shame. And SHOULD HAVE no customers. 22.68% is beyond ridiculous.

[BlueShoe]

Be great if they had rolling doubles.
They do, the SoCal tracks have had them for quite some time. My interest in them waned long ago, they just do not pay me enough to justify the risk, since logical combinations tend to get crushed by the sharpies. If the bet should go to 15% and change may take another look, but for now the prefered horizontal exotic wager remains the rolling triples.

[Stillriledup]

When a department store struggles to sell an item, what do they do? They stick it on the 40% sale rack.

In horse racing, if a bet struggles, do they stick that bet on the 'sale rack'?

No. Racing is the only business that doesnt offer 'sales'.

You go into Macys or Best Buy and you see the word SALE all over the place.

Have you ever seen a 'sale' sign at the track?

[takeout]

I can see a possible “going out of business sale” in their future. And with a 22.68 rake on two-horse bets, a possible Darwin award.