Tracks with sports betting

[v j stauffer]

Originally Posted by cj

https://twitter.com/o_crunk/status/1039117997825314816

Let me get this straight. You're saying that even though MTH & DEL have on track sports gambling their "on track" horse handle decreased?

[thaskalos]

This ain't "news" to me. How could it be otherwise?

[the little guy]

Comparing total handle at tracks with sports betting makes no sense to me. Shouldn't on-track handle, on both the host signal and simulcast tracks, be all that matters? Monmouth ( and especially Delaware ) seem like tricky places to use as examples because their on-track numbers are probably pretty minimal, but regardless, total handle seems like a wholly irrelevant number.

[v j stauffer]

Originally Posted by thaskalos

This ain't "news" to me. How could it be otherwise?

I thought the idea was an influx of "players" funneled to the tracks would have a positive impact on the horse handle.

[horses4courses]

Originally Posted by v j stauffer

I thought the idea was an influx of "players" funneled to the tracks would have a positive impact on the horse handle.

It might be the theory for some, but it's a complete fantasy.

I've seen the younger generations betting sports in NV books for over 30 years.
They are not the slightest bit interested in horses. That will hold anywhere else.

Why would they want to wager on something with a 20% takeout which they
know nothing about? The overlap, I would estimate, between sports bettors
under the age of 40 who will wager on horses is in the region of 5%.

[Andy Asaro]

If tracks are gonna benefit it has to be brick and mortar only for a couple of years to get people to the tracks to bet. Any other way won't work. Not even close.

[stlseeeek]

How the hell could anyone bet monmouth?

[GMB@BP]

Small fields with Navarro in every race, how do you bet that? Hard for me to believe sports betting had much to do with the crap product we were given to bet.

[thaskalos]

Originally Posted by v j stauffer

I thought the idea was an influx of "players" funneled to the tracks would have a positive impact on the horse handle.

People go to the track with a set amount of money in their pocket...and any money that they bet on sports must necessarily be kept out of action for several hours, until the sporting event is decided. This scenario can't possibly have a positive impact on horse handle.

[cj]

Originally Posted by GMB@BP

Small fields with Navarro in every race, how do you bet that? Hard for me to believe sports betting had much to do with the crap product we were given to bet.

Nothing different that years past though, right?

[GMB@BP]

Sports betting will not help increase betting in the slightest, thinking that is fools gold.

What it may do is provide enough revenue to keep tracks afloat while they are required to still maintain race dates.

I don't think racinos did a thing for bringing more people into racing and in the long run has hurt racing.

Sports betting is the same thing. It may be worse, it has a better chance to pull peoples capital away from racing.

[GMB@BP]

Originally Posted by cj

Nothing different that years past though, right?

not sure, i only looked this year as i play all tracks now.

Its like sports betting, in any form or place, is likely to hurt racing. Maybe its a "get it while we can" attitude.

[alhattab]

Originally Posted by the little guy

Comparing total handle at tracks with sports betting makes no sense to me. Shouldn't on-track handle, on both the host signal and simulcast tracks, be all that matters? Monmouth ( and especially Delaware ) seem like tricky places to use as examples because their on-track numbers are probably pretty minimal, but regardless, total handle seems like a wholly irrelevant number.

Absolutely true re the inbound simulcasts. An article from the Asbury Park Press on 6/18 addressed racing handle in light of the first weekend of sports betting, which was 6/16 and 6/17. It said "The racing numbers were up across the board on Sunday, including $1,211,030 bet on the in-house simulcast, up 8 percent from a year earlier, $973,402 bet on the live racing program, a 17-percent increase, and $4,886,393 bet on the Monmouth Park signal, up 18 percent." So on that day, there was almost 25% more bet on inbound simulcasts than there was on the live product, by people at Monmouth Park. This is part of the reason why the Monmouth per capita is so low- people are betting the simulcasts (and yes others are squatting in the picnic area not betting at all, or, now, are in the sports betting area).

Also you and others noted, adding Thursdays was a killer. Here are the numbers through July 21 as per an article in the July 22 Press:

"According to figures released by Monmouth Park on Sunday (7/23), live handle, the amount of money wagered on Monmouth Park races at the track, is up 8 percent over the same period a year ago, with $11,513,732 wagered. Total handle jumped 10 percent to $94,574,544." These numbers included only 2 Fridays vs 7 in 2017, and also included Derby Day in 2018 but not 2017, with total handle of $3.1 million.

So the Thursdays+Fridays combined (this year Fridays began on 7/13 vs in June in 2017) and some bad weather especially on those days resulted in huge average declines. I really think as a lower-tier track you have to set a schedule at the beginning of the meet and stick with it. On-track player awareness is low and simulcast players are set in their ways.

So while I agree the meet was not very bettable or aesthetically pleasing, the comps are apples and oranges in my view.

[biggestal99]

Originally Posted by thaskalos

People go to the track with a set amount of money in their pocket...and any money that they bet on sports must necessarily be kept out of action for several hours, until the sporting event is decided. This scenario can't possibly have a positive impact on horse handle.

Lol.every sports book in jersey has in game wagering. You can trade in and out of your bets and don’t have to wait until the end of the game. Just trade out of your position and take your profit (or loss). It’s like the x. You can cash out anytime. Hell I cashed out of the grand national mid race for megabucks.

Of course if I had held out until the very end I would have made more.

In game wagering is the future.

Allan

[biggestal99]

Originally Posted by GMB@BP

Sports betting will not help increase betting in the slightest, thinking that is fools gold.

What it may do is provide enough revenue to keep tracks afloat while they are required to still maintain race dates.

I don't think racinos did a thing for bringing more people into racing and in the long run has hurt racing.

Sports betting is the same thing. It may be worse, it has a better chance to pull peoples capital away from racing.

I disagree, it just has to be marketed correctly.

Allan