Some VERY good ideas here... 10% takeout... exchange betting, etc.
IMHO, the key to improving things (not just for players but for everybody involved in racing) is to do it by making changes that satisfy customer needs and wants. Racing, in modern times, has done an extremely poor job (if not the exact opposite) of that.
Last fall we asked 1400 HANA members to take a 50 question comprehensive survey designed by statistician Dan Needham. He told us up front that response rates exceeding 35% for a survey of this type are considered "strong." More than 500 serious horseplayers took the time (about 25 minutes) to complete the survey in full.
IMHO, the HANA survey is important because it represents recent market research targeted at racing's core customers. The results were eye opening (even to us) and only confirmed the following about racing's decision makers:
1. They have no understanding whatsoever about factors driving customer behavior.
or
2. They are aware of factors that drive customer behavior but choose to ignore them.
Note to industry decision makers... because I know you are lurking/reading this...
The NUMBER ONE FACTOR named by more than 500 core racing customers driving their betting behavior is HIGH TAKEOUT!... It's too high already... make it higher and they'll bet less... lower it a bit and they'll bet more.
IMHO, the goal isn't to lower takeout to nothing. No.
Lower it to the point where revenue for track operators and purses becomes maximized.
Interestingly enough results from the HANA survey just confirms all of the recommendations found in the racing industry's own paid for studies... Thalheimer, Cummings, and others.
By the way... Here are the top 3 factors driving bettor behavior:
1. High Takeout
2. Pool Integrity
3. Drug Integrity
IMHO, industry decision makers can right the ship by making it their mission to satisfy customer needs and wants in each of the above three areas.
HANA Sign Up Link:
http://www.jcapper.com/HANA/SignUp/H...m.asp?source=0
-jp
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