Belmont handle down $30,000,000

[jelly]

All-sources handle, comprising all wagers made on NYRA races, fell 10.3 percent from last year’s meet, with $263,037,788 wagered this year as compared to $293,163,373 in 2010.



Total betting interests during the meet numbered 2,756, a 2.0 percent drop from last year’s 2,812, and average betting interests per race dropped 2.6 percent, with an average of 8.25 this year compared to 8.47 last year. This year, 334 races were run during the Belmont fall meet compared with 332 last year.

http://www.nyra.com/belmont/stories/Nov102011.shtml

[FenceBored]

All-sources handle, comprising all wagers made on NYRA races, fell 10.3 percent from last year’s meet, with $263,037,788 wagered this year as compared to $293,163,373 in 2010.



Total betting interests during the meet numbered 2,756, a 2.0 percent drop from last year’s 2,812, and average betting interests per race dropped 2.6 percent, with an average of 8.25 this year compared to 8.47 last year. This year, 334 races were run during the Belmont fall meet compared with 332 last year.

http://www.nyra.com/belmont/stories/Nov102011.shtml

That can't be right. Belmont had a lower average daily handle ($7,515,365) than prissy plasticine Keeneland ($7,560,820)? :eek:

[BIG49010]

They lost the last day of the meeting, that would account for some of that.

[FenceBored]

They lost the last day of the meeting, that would account for some of that.

Last year's Fall Belmont meet was 35 days (http://www.nyra.com/belmont/stories/Nov102011.shtml). Full days of racing this past meet: 35. Same number of days.

Total attendance was up, on-track handle was up, simulcast wagering from Belmont was up. Those are probably tied to the closing of NYCOTB.

[classhandicapper]

I'm sure the closing of NYC OTB hurt the handle. I've been casually tracking handles around the county for tracks I know were typically bet heavily at NYC OTB. A few were down and specifically blamed the loss of revenue from NYC OTB as a reason.

NYRA is not getting hurt that badly on a "NET" basis because they are keeping both AQU and BEL open to recover some of the former OTB handle, they picked up a lot of former OTB phone and computer accounts, and they get to keep a higher percentage of each dollar bet

(though I am sure expenses are also probably up a lot because two tracks are open, there are extra clerks, they outsourced phone wagering because of the higher volume, they run the former OTB network now, they are busing customers to the track, they gave out $100 promotions to open accounts etc... ).

[satrabyk]

Simulcast locations having to now use the 3-4 second slower Dish Network feeds must be impacting overall handle. Witness people getting shut out constantly - I know several people who only bet live racing now. Racetracks and Roberts Communications are a complete joke.....

[FantasticDan]

I'm sure the closing of NYC OTB hurt the handle. I've been casually tracking handles around the county for tracks I know were typically bet heavily at NYC OTB. A few were down and specifically blamed the loss of revenue from NYC OTB as a reason.Do you have any stats for how Finger Lakes' 2011 handle compares to recent years? NYCOTB was said to account for 25% of FL's handle..

[classhandicapper]

Do you have any stats for how Finger Lakes' 2011 handle compares to recent years? NYCOTB was said to account for 25% of FL's handle..

I haven't been keeping the stats.

There are some groups on Facebook that post a lot of articles on the OTBs. I generally read those and have seen a few from the tracks where they blamed their handle decline on closing OTB. You are right. Finger Lakes was one of the more popular tracks, especially on dark days. I can't see how they are not being impacted.

[rich2463]

Check the nunber of turf races at both meets. They are typically bet heavier than main track.

[cj]

The weather was a big factor. They lost 66 turf races, which also shows it rained...a lot...

[lamboguy]

its true that the weather caused less turf racing and smaller fields, but another factor that has happened with so many turf races is there were a lot less minus pools than in years past because of the many turf races. there were plenty of times in years past that there were over $500k minus pools in short field races. i don't remember that many this year.

[cj]

its true that the weather caused less turf racing and smaller fields, but another factor that has happened with so many turf races is there were a lot less minus pools than in years past because of the many turf races. there were plenty of times in years past that there were over $500k minus pools in short field races. i don't remember that many this year.

I don't remember very many last year either.

[lamboguy]

you have a better memory than myself

[Cardus]

It would be refreshing -- and, what the hell, intellectually honest -- if a thread about handle would consider the relevant factors in a handle drop.

Like CJ posted, consider the number of turf races lost.

[NY BRED]

[QUOTE=classhandicapper]I'm sure the closing of NYC OTB hurt the handle. I've ]

I've been questioning why NYRA simply doesn't assume the leases of the former
OTB loc's ,and either renovate them or open new ones in the
boroughs for the usual members and possibly newbies.

That said, with the Racino now iflourising why not have night racing
Wed -Friday and day racing on the weekends?

Of course, thiis thought is logiical and therfore disregarded.

[classhandicapper]

They also carded a ton of turf races this year. So it's possible that even though they lost a lot of them, the difference between the number run last year and the number run this year may not be that large. I'm way too lazy to count them.

It would be a waste of time anyway when it's a demonstrable fact that they are losing handle because of the closing of OTB.

The next time I talk to one of my friends that used to be a clerk in Queens, I'll ask him how much the handle is at the bookie joint he's now clerking at in Queens and tell him to say hello to all the guys I know that used to bet at the OTB he worked at. I'll also ask all the people in my neighborhood that used to play in Little Neck and Bellerose if they have more money in their pockets now that they don't play horses anymore at all.

NYRA has to get approval to reopen some OTBs under their own control in the city or that handle is gone for good.

[classhandicapper]

[QUOTE=classhandicapper]I'm sure the closing of NYC OTB hurt the handle. I've ]

I've been questioning why NYRA simply doesn't assume the leases of the former
OTB loc's ,and either renovate them or open new ones in the
boroughs for the usual members and possibly newbies.


I think they have to get approval before the can open anything. Catskill OTB also wants to take over the region and I vaguely remember reading about a 1 year waiting period for NYRA, but I could be confusing multiple issues.

My guess is that they aren't going to reopen any of the smaller branches. It would cost them a lot of money to operate and maintain just like it did for NYCOTB even if the employees were making a little less (and if they were making less they'd probably be of even lower quality).

OTB had a few very lucrative large branches (like Whitestone). They might consider a couple like that in key locations. They also had a few great restaurants. So they may put betting machines in sports bars.

[OTM Al]

[QUOTE=classhandicapper]I'm sure the closing of NYC OTB hurt the handle. I've ]

I've been questioning why NYRA simply doesn't assume the leases of the former
OTB loc's ,and either renovate them or open new ones in the
boroughs for the usual members and possibly newbies.

That said, with the Racino now iflourising why not have night racing
Wed -Friday and day racing on the weekends?

Of course, thiis thought is logiical and therfore disregarded.

These are all legal issues. If you had been following the story, you would know that they are working on doing just what you say with regard to OTBs. You would also know the political patronage crowd is trying to get their own OTB organization back to resume business as usual. I think in the coming year we should see some sort of resolution.

I love the "Why don't they just...." questions like, "Why don't they just race at night." First, T-bred racing at night is illegal in New York. It is a protectionist measure for the harness tracks. Second, it gets damn cold at Aqueduct in the winter months as it is very close to Jamaica Bay. It is even colder at night. If you were talking about summer racing you might have a point, but then there is no summer racing at Aqueduct. All this would result in is even more cancelled cards than we get normally. Thus there is nothing logical about racing at night in the winter at Aqueduct. It is both illegal and makes no sense.

[cj]

They also carded a ton of turf races this year. So it's possible that even though they lost a lot of them, the difference between the number run last year and the number run this year may not be that large. I'm way too lazy to count them.



It is in the release:

"There were 123 turf races run during the 2011 Belmont fall meet, down 8.2 percent from the 134 turf races run last year, with 66 races being taken off the turf in 2011 as compared to 38 taken off the turf in 2010. "

Now, one could question carding that number of turf races in the first place. I'm sure there are reasons, but you are playing with fire by doing that.

[Linny]

Not that it makes up the shortfall but they did lose a Sunday and most of a Saturday. They missed plenty of grass races on days when the turf races clearly appeared to be carrying the day based on the overnights.
Short fields in off the turfers lead to fewer carryovers and carryovers do drive significant handle bumps because of syndicate money.
Remember too that money taken in by NYRA directly (on track, NYRA Rewards Acct) generate money actual revenue than what they got from NYC OTB so in terms of revenue, they are not down as much as the handle figures read.

[NY BRED]

[QUOTE=OTM Al][QUOTE=NY BRED]

I love the "Why don't they just...." questions like, "Why don't they just race at night." First, T-bred racing at night is illegal in New York. It is a protectionist measure for the harness tracks.


I'm totlly aware of the Standardbred protective rule.That said, were
racing reversed (NYRA night/Standardbred day) I'm sure the handle
would be way more significant on the TB racing idea.

In fact, anyone who loves TB racing/bow coupled with the "action"
of the racino might actually return to the track rather than watch
race replays or bet off the internet.
Those of us with day jobs(or most of us) might really enjoy night
live night TB racing. I certainly did when Med was open.

As far as the weather goes, Club Med survived winter racing ,and
while I know the water issue, the fact is lost revenue days due to
weather conditions could be made up by live attendance at the track.

What makes me nuts is the political nonsense of insulating the
Standardbred track from TB night racing. If one sector loves
their style of racing how much revenue would/could be lost to that
track?
The flip question is how many people would now attend
NYRA racing with the racino in play vs Yonkers current
attendance tracked back to the opening of their racino?

Loser becomes the government, and the short version
is increasingly lower attendance at tracks hosting
both modes of racing

[OTM Al]

Loser becomes the government, and the short version
is increasingly lower attendance at tracks hosting
both modes of racing

Maybe government as a whole, but not individual politicians who are directly involved....