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Originally Posted by Jeff P
Cal Racing handle took a direct hit coinciding with announcement of the bill.
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Exacta Takeout:
AQU-BEL-SAR: 18.50%
CDX-KEE: 19.00%
GPX: 20.00%
DMR-HOL-GGX-SAX: 22.68%
Exacta takeout in California isn't just 22.68%.
It's 22.6 percent HIGHER than NYRA's exacta takeout - and absurdly out of line given quality of product relative to other major tracks.
When handle is analyzed by wager type the negative effect of the takeout increase is glaring. The number of races in California where the exacta pool is $100k vs. the number of races at other major tracks where the exacta pool is $200k, $300k, and $400k tells a story that can be summed up in 3 words:
Bettors aren't stupid.
The reality of those 3 words is starting to dawn on a lot of people in the industry in California - who have recently changed their minds about the takeout increase - and who are now (quietly behind the scenes) calling for a takeout reduction.
-jp
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Clear and to the point.
California racing rests on the pari-mutuel racing handle. Handle is in decline because the core pari-mutuel bettor has found that the bets in California are not attractive as compared to other options.
California racing is losing market share and pari-mutuel handle and all the decision makers know it .
More winning bettors would start a comeback for California racing, and put an end to the self serving interests of a few.
"Take out " is the obvious key to sending home a few more winners among the most unappreciated person in racing, the wagering customer.
The takeout is too damn high, and the task of finding the "optimum" take is frustrated by the few who do not respect the big picture for the good of all.
Yes , despite all the negatives,there is a flurry of things going on (behind the scene) between the decision makers, that I believe will produce many changes, and our favorite game will be better off for them .
I agree, "bettors are not stupid"
Keep the faith, and continue to support the effort for change.
Roger Way
