NJ may cut purse subsidies
 

what i highly question is why the hell did the racetracks have to sell their sports gambling to William Hill and Fan Duel? it shows a sign that they are inept to running gambling business. they must have given up 50% of the action. those big company's are only juicing the players to death. they couldn't lose booking sports in a million years.

the same thing happened in New Hampshire. a pickem game in football, basketball or baseball is you lay $112/$100. that will go up to $115/$100 and then $120/100. the difference in juice would make up more than the $20 million they are going to lose in purse funding for New Jersey.

both New Jersey track's have let their product go to hell. they actually don;t deserve to get the purse supplement, simply because they aren't doing a good job with the money that they get already.

Yeah, I guess you can make all kinds of complaints and such. But reality is this is the signs of the times. This is just a sign the business model is weak. Capitalism...... subsidies usually mean your market (product) is weaker and/or managing wrong and are dependent on something else. Jeez, the example they are lumped in with is the Transit Authority ;) in this article ..... which people actually need to live. So, this could get worse.

by the way, Drazin is a first class dope. before sports gambling became legal, The Meadowlands started signing people up for online sports gambling. what did Monmouth do, they sat on their asses. today look at the numbers that those 2 tracks put up with the sports gambling. The Meadowlands must out handle Monmouth 10-1 by now.

Part of the Mth issue is that every state around them has casinos subsidizing the purses. Mth’s product is basically Tampa Bay Downs, which is largely unsubsidized. But Mth has to offer much higher purses- roughly 2x for same class of horse- to stay competitive with locally subsidized product at Prx, Del, LRL/PIM. If the Parx and Del slot $ vanished then we’d be back to Mth being clear AAA, Prx being AA and Del being A to NYRAs Major Leagues

Monmouth is in an unenviable position where it must compete for similar racing stock with tracks in geographic proximity. The playing field is tilted toward Maryland, Penna and Delaware.
If Monmouth remains a viable racing facility for more than the next 5 to 7 years, I'll be surprised.
Is it something in the water that causes such ineptitude across the board?
Does anything in that state function properly?

Yes, the tolls and the tax collector!

Regarding horse racing, what do you suggest to solve the problem? Murphy pretty much gutted the budget. I got an email from our local high school district saying funding was cut for a service organization- a highly regarded one- within the high school. So it isn't a surprise that he proposed cutting the subsidy. Monmouth faces an uphill climb with every other nearby track is subsidized, in some cases heavily so, by other forms of gambling.

too bad they can't get together to fix the problem. If the circuits switched back and forth while idling the other tracks handle would increase because average field size would increase substantially. Example Parx runs April and May, Delaware 5-6 weeks in June and July. MTH rest of July and August and part of September then back to Parx. Obviously the costs would decrease for the tracks when they are idle. Add breeders bonuses for all foals bred in PA, NJ, Delaware and restricted MSW for the aforementioned, etc. I know this is fantasy land:D

Definitely the answer. Been preaching that for years. May come out of necessity if the governments keep taking slots $ off the table as the PA gov proposed earlier this year, pre COVID. I think even just eliminating Parx from say May-early/late Sept would help alot. Del and Mth can coexist. The real pressure on Mth actually came from GP- lots of trainers that used to come up- Orseno, Broome, Pompay and prob a few others I can't think of top of mind.

Hold is 90,000,000 for meadowlands so far this year
Hold for 10,000,000 for Monmouth.

9-1

Close.

Allan

i was close. when Drazen was going to school, Gural was coming home.

I don't know anything about what's going on in NJ, but I think location has to be at least one small factor in those results. If you live in NY or close by for job commuting purposes and want to bet sports legally, a trip to the Meadowlands is probably quicker than a trip to Monmouth.

Maybe as it relates to the on-line presence this is true, but otherwise a ridiculous comparison. The counties' aggregate population proximate to the Meadowlands- Bergen, Hudson, Essex, Morris and Passaic is 3.5 million. Monmouth and Ocean county populations aggregate to 1.2 million. Then of course there's the 1.7 million people in Manhattan as Class mentions. Other central/south Jersey counties also have Phila as an option. The population demographics are also completely different, so a 9x Club Med to Monmouth ratio doesn't really surprise me.

it really has nothing to do with the demographics.
what happened was before they passed sports gambling, The Meadowlands was opening up online accounts in anticipation of the sports gambling becoming law. while this was happening, Drazen sat on his ass and waited. now the meadowlands has most of the online business and monmouth is on catch up phase.

this is the difference between success and failure. it happens all the time everywhere in every aspect of life. we just saw it this year with the corona. places like Korea, New Zealand, Australia dealt with the problem before it hit their shores. when we shut down the airports here it was already to late.

It's hard to feel sorry for them, they don't do much to help themselves. Last Friday with NYRA and Del Mar dark would have been a great opportunity for them but they were dark(Woodbine handled 6M). It would have been a rare chance for their races to be featured on TVG without being up against more popular tracks. Also Sunday they took the races off the grass in the middle of the card(it was not raining, I never heard the reason given). What are they saving the turf for this late in the season? They also own the OTB in Woodbridge which is poorly run. It's very obvious management are horse people, not gambling people.