Quote:
Originally Posted by classhandicapper
From a personal perspective, I love the lower take double, but unfortunately for us it's not just about the players.
It's about the tracks and industry.
We have to demonstrate more than just increased handle in a specific pool.
We have to demonstrate increased bottom line for the track and industry.
Imagine 3 competing pizzerias in a neighborhood and one offers a lunch special for meatball heroes.
If his sales of meatball heroes go up, did they go up at the expense chicken, eggplant, pizza etc.... (same amount of money wagered but on the Double instead of WPS or Pick 3 or 4) or did he actually bring in new customers with fresh money?
Did he bring in brand new customers that normally don't go to any of the pizzerias in the neighborhood or did he just steal some market share from one of the other pizzerias (instead of betting OP they bet KEE)?
Did this extra amount of handle actually increase the bottom line to KEE given that the take was lower on every dollar bet in the double pool?
The idea here is not to just move money from one pool to another or from one track to another. The idea is to bring in brand new customers and for the existing customers to bet so much more than usual the industry bottom line is better.
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You cannot magically bring customers into the game. It is a process. You start with an idea like this and you promote it. As they have. This is still not optimal takeout but it is a lot better. This industry has been robbing its customer base of shoes and shirt for years in the name of entertainment. Don’t expect people to come running back because the drive by and see the word sale on the door. What is more important at this point is a shift in attitude of decision makers in this industry. The only way to shift their belief system (which is wrong but they are to hard headed to admit it) is to shift your betting from NYra or socal to keenland to send the right message. If keenland sees a huge jump across the board because of this move then the existing consumer has spoken. If they don’t, then the attitude will always be that the consumer doesn’t care about takeout. They are only going to follow the datapoints. If lower takeouts mean more profit than they might go there. If not, it will be ridiculous pricing forever and ultimately game over. Bottom line is it is way to early in the process to worry about where the money is coming from. 15 percent in one pool is not going to bring a lot of new blood into the game.
