View Poll Results: To Compete with Sports Betting must lower takeout/breakage on higher churn wagers?
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Yes, we must lower takeout/breakage on higher churn wagers
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125 |
93.98% |
No, things are where they should be.
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8 |
6.02% |
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09-08-2018, 10:21 AM
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#31
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Registered User
Join Date: Aug 2007
Location: Benton, La.
Posts: 1,841
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Quote:
Originally Posted by AltonKelsey
Good point , wrong question.
The handle or part of it isn't 'kept'. What's kept are the original dollars that the players are willing/able to lose
Track makes 80k in your example. Maybe the players had 160K to lose when they 'walked in'
So the track kept 50% of that amount. Not the 20% people think of.
How come all these high priced consultants never deal with this?
Afraid to open the can of worms ?
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But keep in mind that the track has to put up a large percentage of the purse money. The 80k that the track kept was likely distributed in purse money. Also keep in mind that the state has to give a % of what's bet to the state for taxes on these wagers.
We need to hear the other side of the story as to what % of the "take" is actually profit after taxes and expenses. Track make some money off admissions, concessions, etc. but what does it cost to operate? Lets look at the whole picture here.
Last edited by green80; 09-08-2018 at 10:26 AM.
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09-24-2018, 03:58 PM
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#32
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Registered User
Join Date: Mar 2007
Posts: 1,994
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Just a reminder that when the guy gives an example of the sports better churning his money 20 x and the horse player churns his money 5 x, that isn't even the complete picture. It is much worse than that. First off rebated whales and sharps in the horse racing industry are driving up the takeout far higher than 20% on the non rebated/recreational bettor. 2nd the sports bettor playing game by game is playing roughly 50 % wagers. One week he is 10-10, the next he is 8-12, the next he is 11-9, the next 11-9. 4 weeks, 40-40, at $20 a pop he has lost a whoping $80 on $1760 bet. The horse better is playing 6-1's, 10-1, exactas, trifectas, superfectas, super high 5's, pick 4's, pick 5'... Even at $20 bucks a race or play(for the mult race wagers), he can easily lose $1000 or $1200 if not more on his $1600 bet. Eventually over time he will reach his mean -15% to -40% whatever the case may be, but new blood is often going to be chased out of the game long before he figures out what his mean is.
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10-03-2018, 01:40 AM
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#33
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Registered User
Join Date: May 2011
Posts: 22,651
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Quote:
Originally Posted by Gamblor
Breakage doesn’t move a 17.3% take to 25% though... not unless you’re rounding $8.09 down to $5.00
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what about $2.39 to $2.20 ?
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10-18-2018, 01:28 PM
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#34
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Registered User
Join Date: Aug 2016
Posts: 487
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Quote:
Originally Posted by Poindexter
rebated whales and sharps in the horse racing industry are driving up the takeout far higher than 20% on the non rebated/recreational bettor. 2nd the sports bettor playing game by game is playing roughly 50 % wagers. One week he is 10-10, the next he is 8-12, the next he is 11-9, the next 11-9. 4 weeks, 40-40, at $20 a pop he has lost a whoping $80 on $1760 bet. The horse better is playing 6-1's, 10-1, exactas, trifectas, superfectas, super high 5's, pick 4's, pick 5'... Even at $20 bucks a race or play(for the mult race wagers), he can easily lose $1000 or $1200 if not more on his $1600 bet. Eventually over time he will reach his mean -15% to -40% whatever the case may be, but new blood is often going to be chased out of the game long before he figures out what his mean is.
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... yet again, it is ALL OF YOU who are still the problem in this equation (for reasons each connected to that bottom line.)
The idea that track management should think or allow that you might solve yourselves on behalf of the customerbase which matters in this scenario, is insane!
Those other wagering alternatives aren’t even connected to the wagering done on their outcomes, so they cannot be compared to an industry which exists entirely because of the wagering done on it.
The industry doing anything at all for the tiny sliver of its customerbase which is the collective “you” before addressing the masses you’ve been burying over time, would be stupid.
Once racing starts playing to its strengths and not to its weaknesses (namely “you”, collectively) then it will once again compete on the square with and other venture.
“YOU” remain the problem and as such, you can not BE any part of the solution.
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10-18-2018, 02:03 PM
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#35
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Registered User
Join Date: Dec 2001
Location: JCapper Platinum: Kind of like Deep Blue... but for horses.
Posts: 5,290
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Let's kill all the horseplayers. (Because that'll solve all of racing's problems.)
Let's kill all the lawyers:
https://en.wikipedia.org/wiki/Let%27...ll_the_lawyers
Quote:
"Let's kill all the lawyers" is a line from William Shakespeare's Henry VI, Part 2, Act IV, Scene 2. The full quote is "The first thing we do, let's kill all the lawyers".[1] It is among Shakespeare's most famous lines,[2] as well as one of his most controversial,[3] and has been used as the title of movies[4] and books.[5] Shakespeare may be making a joke when character "Dick The Butcher" suggests one of the ways the band of pretenders to the throne can improve the country is to kill all the lawyers. Dick is a rough character, a killer as evil as his name implies,[1] like the other henchmen, and this is his rough solution to his perceived societal problem.[6] There is some disagreement with the interpretation that one of Shakespeare's sympathetic characters would make a joke suggesting that killing lawyers would make the world better.[7]
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-jp
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__________________
Team JCapper: 2011 PAIHL Regular Season ROI Leader after 15 weeks
www.JCapper.com
Last edited by Jeff P; 10-18-2018 at 02:09 PM.
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11-15-2018, 04:47 PM
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#36
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Registered User
Join Date: Mar 2017
Posts: 5,803
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