Quote:
Originally Posted by Andy Asaro
...The formula is Field sizes averaging 8 horses or more per race, Big pools, and reasonable takeout. Field size in So Cal is plummeting. Purses are plummeting, and takeout is way too high for short fields. The current formula in California is certain catastrophic failure...
The level of idiocy stunning...
Keep believing in the Purse Fairy and she'll disappoint every time.
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^^^ -- This !
100% spot on.
Think back to SB1072 and 22.68% exacta takeout and changing the historical takeout split from 50/50 to 48% track and 52% purses.
The CHRB and TOC promised SB1072 would lead to increased purses, field size, and handle.
A few months in, it was obvious the opposite was taking place.
They had succeeded -- at accelerating the decline.
Handle cratered. As did track revenue.
The first thing they did was cut dates and workforce hours. Then purses. Then layoffs.
In that year's CHRB Annual Report the Chairman of the CHRB blamed "the economy" while that same year the California Lottery
engineered a complete turnaround (increase in revenue and increase in money flowing to state coffers) after AB142 gave the Lottery Commission discretion to increase prize payout percentage (aka lower takeout.)
Instead of reversing course they (Tracks, Horsemen, and the CHRB) dug their heels into the ground and told us it was a "5 Year Plan" and "It's bound to work if we just give it more time."
Fast forward 13 years --
And here we are.
If Santa Anita closes or is sold off there will be no shortage of people saddened by this event as much as myself.
But you can't say the wounds weren't self inflicted.
-jp
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