Quote:
Originally Posted by Andy Asaro
I play every mandatory payout day with 50K or more in the jackpot.
I've been vocal about not liking them and believing they're bad for the game. But here's the thing. There are more and more of them because the tracks make more money from them.
I told Ritvo I didn't like them. His job is to make as much money for the Stronach Group as possible. When you look at the results year over year from Laurel and Gulfstream it's hard to argue that he should eliminate the jackpot wagers.
My point to him is that handle on U.S. racing should be three times what it is and revenue should double. Before the Pacific Classic I met with him and M. Rogers about paying penny breakage on WPS and lowering exacta take to 17.5% and gave them a marketing plan to ensure success. That day they agreed to give it a try. Then crickets. Then this lawsuit.
If we are/were right about jackpot bets then why are they getting more popular? They aren't going away anytime soon unless enough of us boycott and knock handle down 25% or more. I'm up for it but there is nobody/no organization to lead.
Anyway this was my last shot at getting something done. The Stronach Group was the most likely to do it. I'd put the chances of them implementing my recommendations at about 5% and that's high.
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Sure they are popular, because many do not know they are betting into a wager with a 45+% takeout except on mandatory days. Tracks are selling ill informed customers a bill of goods. Much like the media plays up the Lotto.
They will continue to be popular for another year or two while they slowing erode customers bankrolls until they quit playing.
These bets are as dangerous as anything else wrong in the game right now.
It's really not that hard to see.
