Same chilling effect.

70% of Australian handle is a single betting team how is that revitalized, diverse or attractive?

Please show some kind of proof/links to back up your claim of 70%......

Your awareness is upside down.

PM need only be optimized by the house to compete favorably vs. all other types of wagering.

They simply don't play to their strengths, instead preferring to expose their weaknesses. So it's no wonder American horse racing is beaten-down today.

It's that simple and concise.

Please explain but dumb it down. I have the mind of a 6th grader.

But they (tracks) wont pull the trigger on lowering takeout for the masses.

Instead they insanely raise takeout to usury.

whale handle would dry up if they went down to a reasonable takeout due to loss of rebates.

Allan

Actually from a whales point of view, lowering takeout is the same as offering a higher rebate. It would not effect them.

They simply need takeout (or effective takeout with rebate) to be low enough to make a marginal profit over time.

Lowering takeout would not effect whales, but would benefit most everyone else and could potentially (with very dramatic changes) put parimutuel in competition with fixed odds.

WPS parimutuel wagering will likely never truly compete with fixed odds however the exotic bets with higher payouts are something fixed odds cannot (at this time) replicate easily.

True, they'd get back more on their winning wagers with a lower take, but with a rebate, it's very simple to know what their minimum, guaranteed return on each wager is. I'd think the higher the minimum guaranteed return, the better.

The rebate does make the math easier, but generally whales know exactly what their win rates are vs takeouts vs pool sizes etc...

A 2% reduction in takeout could be a greater average return than a 5% rebate depending on hit rate, pool size, etc..

So if the average bettor AND whales both benefit from a 2% reduction in takeout, let's make everyone real happy and go for a 4% cut.....Sounds good, right?

To a degree yes,

As with any business there is a proper price point. High enough to profit but low enough to attract new business.

There have been a ton of studies showing that point in racing based on current data. It's not really a mystery anymore, its just difficult to convince the powers that be.

Why are the rebates such an "under-the-table" enterprise...to the extent where very few details about them ever get released to the general betting public? Why can't the general public readily obtain a list containing the rebate rewards for the different wagering-amount requirements?

They bet the exotics, too. It just isn't as noticeable at a glance. The bot sees value and bets it.

I doubt more than 20% of the teams are still making a profit. There are too many of them, and they're stepping on each others' toes. Flyer's team folded its tent a while ago. Some of the others are complaining about how tough it's gotten. Boo hoo, cry me a river.

I'm no longer anti-whale for two reasons.

First, the industry is going to disappear anyway. They're too stupid not to.

Second, I figured out how to use what the whales do to make a profit for myself. So I hope they or their replacements have plenty of money. I intend to get a share of it.

That's the spirit!

:ThmbUp::ThmbUp:

don't laugh at this guy, he has the right idea!