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-   -   Sports Betting Poll. How can it help racing? Brick and Mortar only for 2 years? (http://www.paceadvantage.com/forum/showthread.php?t=144863)

Andy Asaro 05-14-2018 10:46 AM

Sports Betting Poll. How can it help racing? Brick and Mortar only for 2 years?
 
It would have to be brick and mortar only for a couple years to benefit horse racing. Think Casino's, Tracks/OTB's would support that. If not racing loses IMO

Andy Asaro 05-14-2018 11:16 AM


biggestal99 05-14-2018 11:31 AM

Its just a matter of time when Monmouth has locked up the brick and mortar business along with the internet money.

Its just a matter of time.

Allan

thaskalos 05-14-2018 12:00 PM

Will the state dictate what the takeout will be...or will this all-important matter be left up to the individual betting institutions? Because if setting the takeout for the track-operated sports bets is left up to the horsemen...then the future of this new gambling venture will be darker than even I could envision.

Parkview_Pirate 05-14-2018 12:02 PM

Quote:

Originally Posted by Andy Asaro (Post 2316597)
It would have to be brick and mortar only for a couple years to benefit horse racing. Think Casino's, Tracks/OTB's would support that. If not racing loses IMO

I would have voted for a third option - it won't make any difference. I'm of the opinion that vast majority, 90+ percent, of sports bettors that go to a brick and mortar shop OR wager online will never bet the ponies anyway.

The way racing is marketed and regulated in this country today is not helping to grow the handle, and any law requiring brick and mortar shops, a portion of the handle to go to racing, sports betting at the track only, sports betting managed by the horse racing commissions, etc., will only hurt racing's image that much more. Racing must standalone, or at least appear to stand alone, to survive. Otherwise it's just a parasite.

The racinos have provided an example of how NOT to expand gaming, and the interests behind sports betting will be avoiding the millstone of the ponies if at all possible.

JustRalph 05-14-2018 12:02 PM

Paul Ryan’s phone is on fire right now

biggestal99 05-14-2018 12:03 PM

Quote:

Originally Posted by thaskalos (Post 2316624)
Will the state dictate what the takeout will be...or will this all-important matter be left up to the individual betting institutions? Because if setting the takeout for the track-operated sports bets is left up to the horsemen...then the future of this new gambling venture will be darker than even I could envision.

Will Hill is in charge at Monmouth

will hill runs the show.

will hill stock up 10%

https://www.bloomberg.com/quote/WMH:LN

Allan

RunForTheRoses 05-14-2018 12:07 PM

The fact is the hold on sports betting is fairly low. Corporate casinos tolerate them because they bring in foot traffic but they would prefer the space be dedicated to slot machines. In the short run sports betting can be a loser for the house. Little Caesars in Vegas closed a whole ago.

It can marginally help NJ racing by bringing in younger people plus people from neaeby states that want to wager on spirts. Some of these people will bet on horses which as we know has a very high house hold.

thaskalos 05-14-2018 12:09 PM

Quote:

Originally Posted by biggestal99 (Post 2316627)
Will Hill is in charge at Monmouth

will hill runs the show.

will hill stock up 10%

https://www.bloomberg.com/quote/WMH:LN

Allan

William Hill may set the odds and handle the action...but this doesn't mean that they'll get to decide on what the takeout will be. My money says that the horsemen won't go along with sports-betting's lower takeout...because it will cast a negative light on the much higher takeout of their game of choice. And, what happens then?

BCOURTNEY 05-14-2018 12:12 PM

Quote:

Originally Posted by thaskalos (Post 2316631)
William Hill may set the odds and handle the action...but this doesn't mean that they'll get to decide on what the takeout will be. My money says that the horsemen won't go along with sports-betting's lower takeout...because it will cast a negative light on the much higher takeout of their game of choice. And, what happens then?

Well now we get to find out. The Supreme Court clears the way for states to legalize sports betting today.

biggestal99 05-14-2018 12:19 PM

Quote:

Originally Posted by thaskalos (Post 2316631)
William Hill may set the odds and handle the action...but this doesn't mean that they'll get to decide on what the takeout will be. My money says that the horsemen won't go along with sports-betting's lower takeout...because it will cast a negative light on the much higher takeout of their game of choice. And, what happens then?


why would the horsemen raise the takeout past the casinos which are the competition?

Its a dog eat dog world out there in sports betting.

Allan

Andy Asaro 05-14-2018 12:32 PM

Quote:

Originally Posted by thaskalos (Post 2316624)
Will the state dictate what the takeout will be...or will this all-important matter be left up to the individual betting institutions? Because if setting the takeout for the track-operated sports bets is left up to the horsemen...then the future of this new gambling venture will be darker than even I could envision.

My guess is that Tracks will charger more juice than Casino's. Can't wait to read about all the infighting over who will charge what?

biggestal99 05-14-2018 12:35 PM

Quote:

Originally Posted by RunForTheRoses (Post 2316628)
The fact is the hold on sports betting is fairly low. Corporate casinos tolerate them because they bring in foot traffic but they would prefer the space be dedicated to slot machines. In the short run sports betting can be a loser for the house. Little Caesars in Vegas closed a whole ago.

It can marginally help NJ racing by bringing in younger people plus people from neaeby states that want to wager on spirts. Some of these people will bet on horses which as we know has a very high house hold.

Will Hill figures for Nevada for 2017

Money bet $1,152,700,000
Money won 72,900,000
Hold rate 6.3%

https://www.williamhillplc.com/media...-23-feb-18.pdf

Page 13 of 2017 annual report.

Allan

onefast99 05-14-2018 12:44 PM

Quote:

Originally Posted by Andy Asaro (Post 2316642)
My guess is that Tracks will charger more juice than Casino's. Can't wait to read about all the infighting over who will charge what?

Untrue. Both racetracks and casinos in NJ will be under the same supervision and once the “official” state tax is decided on we will know the States take! Right now a proposal for an integrity fee by NJ lawmakers and not the sports leagues would require a payment of the lesser of 7.5 million or 2.5% of the sports revenue whichever is lower.

Andy Asaro 05-14-2018 12:46 PM

Quote:

Originally Posted by onefast99 (Post 2316649)
Untrue. Both racetracks and casinos in NJ will be under the same supervision and once the “official” state tax is decided on we will know the States take! Right now a proposal for an integrity fee by NJ lawmakers and not the sports leagues would require a payment of the lesser of 7.5 million or 2.5% of the sports revenue whichever is lower.

How do you know it's untrue in Ca. ? Anything can happen hear and it's usually not in the best interest of the Customer.


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