Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board

Go Back   Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board > Thoroughbred Horse Racing Discussion > General Racing Discussion


Reply
 
Thread Tools Rate Thread
Old 08-26-2020, 07:58 PM   #1
Al Gobbi
Registered User
 
Join Date: Dec 2009
Posts: 996
NJ may cut purse subsidies

Quote:
As would be expected, New Jersey Gov. Phil Murphy’s $32.4 billion budget proposal announced on Tuesday includes countless spending cuts to try to counteract the loss of revenue due to the impact of the COVID-19 pandemic.

Among those is a $20 million cut from an annual horse racing purse subsidy that was signed into law in February 2019. That money was to be split each year equally between the thoroughbred horsemen at Monmouth Park and the harness racing communities of Meadowlands Racetrack and Freehold Raceway.
https://www.njonlinegambling.com/nj-...purse-subsidy/
Al Gobbi is offline   Reply With Quote Reply
Old 08-27-2020, 01:45 AM   #2
lamboguy
Registered User
 
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
what i highly question is why the hell did the racetracks have to sell their sports gambling to William Hill and Fan Duel? it shows a sign that they are inept to running gambling business. they must have given up 50% of the action. those big company's are only juicing the players to death. they couldn't lose booking sports in a million years.

the same thing happened in New Hampshire. a pickem game in football, basketball or baseball is you lay $112/$100. that will go up to $115/$100 and then $120/100. the difference in juice would make up more than the $20 million they are going to lose in purse funding for New Jersey.

both New Jersey track's have let their product go to hell. they actually don;t deserve to get the purse supplement, simply because they aren't doing a good job with the money that they get already.
lamboguy is online now   Reply With Quote Reply
Old 08-27-2020, 09:40 AM   #3
burnsy
self medicated
 
Join Date: Mar 2012
Location: toga
Posts: 3,077
Yeah, I guess you can make all kinds of complaints and such. But reality is this is the signs of the times. This is just a sign the business model is weak. Capitalism...... subsidies usually mean your market (product) is weaker and/or managing wrong and are dependent on something else. Jeez, the example they are lumped in with is the Transit Authority in this article ..... which people actually need to live. So, this could get worse.

Last edited by burnsy; 08-27-2020 at 09:44 AM.
burnsy is offline   Reply With Quote Reply
Old 08-27-2020, 11:49 AM   #4
lamboguy
Registered User
 
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
by the way, Drazin is a first class dope. before sports gambling became legal, The Meadowlands started signing people up for online sports gambling. what did Monmouth do, they sat on their asses. today look at the numbers that those 2 tracks put up with the sports gambling. The Meadowlands must out handle Monmouth 10-1 by now.
lamboguy is online now   Reply With Quote Reply
Old 08-28-2020, 12:40 PM   #5
alhattab
Registered User
 
Join Date: Aug 2007
Location: Jersey Shore
Posts: 1,187
Part of the Mth issue is that every state around them has casinos subsidizing the purses. Mth’s product is basically Tampa Bay Downs, which is largely unsubsidized. But Mth has to offer much higher purses- roughly 2x for same class of horse- to stay competitive with locally subsidized product at Prx, Del, LRL/PIM. If the Parx and Del slot $ vanished then we’d be back to Mth being clear AAA, Prx being AA and Del being A to NYRAs Major Leagues
alhattab is offline   Reply With Quote Reply
Old 08-29-2020, 05:17 PM   #6
thespaah
Registered User
 
Join Date: Aug 2007
Posts: 7,510
Quote:
Originally Posted by alhattab View Post
Part of the Mth issue is that every state around them has casinos subsidizing the purses. Mth’s product is basically Tampa Bay Downs, which is largely unsubsidized. But Mth has to offer much higher purses- roughly 2x for same class of horse- to stay competitive with locally subsidized product at Prx, Del, LRL/PIM. If the Parx and Del slot $ vanished then we’d be back to Mth being clear AAA, Prx being AA and Del being A to NYRAs Major Leagues
Monmouth is in an unenviable position where it must compete for similar racing stock with tracks in geographic proximity. The playing field is tilted toward Maryland, Penna and Delaware.
If Monmouth remains a viable racing facility for more than the next 5 to 7 years, I'll be surprised.
Is it something in the water that causes such ineptitude across the board?
Does anything in that state function properly?
thespaah is offline   Reply With Quote Reply
Old 08-30-2020, 10:49 AM   #7
alhattab
Registered User
 
Join Date: Aug 2007
Location: Jersey Shore
Posts: 1,187
Quote:
Originally Posted by thespaah View Post
Monmouth is in an unenviable position where it must compete for similar racing stock with tracks in geographic proximity. The playing field is tilted toward Maryland, Penna and Delaware.
If Monmouth remains a viable racing facility for more than the next 5 to 7 years, I'll be surprised.
Is it something in the water that causes such ineptitude across the board?
Does anything in that state function properly?
Yes, the tolls and the tax collector!

Regarding horse racing, what do you suggest to solve the problem? Murphy pretty much gutted the budget. I got an email from our local high school district saying funding was cut for a service organization- a highly regarded one- within the high school. So it isn't a surprise that he proposed cutting the subsidy. Monmouth faces an uphill climb with every other nearby track is subsidized, in some cases heavily so, by other forms of gambling.
alhattab is offline   Reply With Quote Reply
Old 08-30-2020, 11:53 AM   #8
Afleet
Registered User
 
Join Date: Nov 2014
Location: Missouri
Posts: 2,190
too bad they can't get together to fix the problem. If the circuits switched back and forth while idling the other tracks handle would increase because average field size would increase substantially. Example Parx runs April and May, Delaware 5-6 weeks in June and July. MTH rest of July and August and part of September then back to Parx. Obviously the costs would decrease for the tracks when they are idle. Add breeders bonuses for all foals bred in PA, NJ, Delaware and restricted MSW for the aforementioned, etc. I know this is fantasy land
Afleet is offline   Reply With Quote Reply
Old 08-30-2020, 02:06 PM   #9
alhattab
Registered User
 
Join Date: Aug 2007
Location: Jersey Shore
Posts: 1,187
Quote:
Originally Posted by Afleet View Post
too bad they can't get together to fix the problem. If the circuits switched back and forth while idling the other tracks handle would increase because average field size would increase substantially. Example Parx runs April and May, Delaware 5-6 weeks in June and July. MTH rest of July and August and part of September then back to Parx. Obviously the costs would decrease for the tracks when they are idle. Add breeders bonuses for all foals bred in PA, NJ, Delaware and restricted MSW for the aforementioned, etc. I know this is fantasy land
Definitely the answer. Been preaching that for years. May come out of necessity if the governments keep taking slots $ off the table as the PA gov proposed earlier this year, pre COVID. I think even just eliminating Parx from say May-early/late Sept would help alot. Del and Mth can coexist. The real pressure on Mth actually came from GP- lots of trainers that used to come up- Orseno, Broome, Pompay and prob a few others I can't think of top of mind.
alhattab is offline   Reply With Quote Reply
Old 09-17-2020, 08:11 AM   #10
biggestal99
Registered User
 
Join Date: Feb 2014
Posts: 4,520
Quote:
Originally Posted by lamboguy View Post
by the way, Drazin is a first class dope. before sports gambling became legal, The Meadowlands started signing people up for online sports gambling. what did Monmouth do, they sat on their asses. today look at the numbers that those 2 tracks put up with the sports gambling. The Meadowlands must out handle Monmouth 10-1 by now.
Hold is 90,000,000 for meadowlands so far this year
Hold for 10,000,000 for Monmouth.

9-1

Close.

Allan
biggestal99 is offline   Reply With Quote Reply
Old 09-17-2020, 08:38 AM   #11
lamboguy
Registered User
 
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
Quote:
Originally Posted by biggestal99 View Post
Hold is 90,000,000 for meadowlands so far this year
Hold for 10,000,000 for Monmouth.

9-1

Close.

Allan
i was close. when Drazen was going to school, Gural was coming home.
lamboguy is online now   Reply With Quote Reply
Old 09-17-2020, 09:30 AM   #12
classhandicapper
Registered User
 
classhandicapper's Avatar
 
Join Date: Mar 2005
Location: Queens, NY
Posts: 20,526
Quote:
Originally Posted by biggestal99 View Post
Hold is 90,000,000 for meadowlands so far this year
Hold for 10,000,000 for Monmouth.
I don't know anything about what's going on in NJ, but I think location has to be at least one small factor in those results. If you live in NY or close by for job commuting purposes and want to bet sports legally, a trip to the Meadowlands is probably quicker than a trip to Monmouth.
__________________
"Unlearning is the highest form of learning"
classhandicapper is online now   Reply With Quote Reply
Old 09-17-2020, 09:58 AM   #13
alhattab
Registered User
 
Join Date: Aug 2007
Location: Jersey Shore
Posts: 1,187
Quote:
Originally Posted by lamboguy View Post
i was close. when Drazen was going to school, Gural was coming home.
Maybe as it relates to the on-line presence this is true, but otherwise a ridiculous comparison. The counties' aggregate population proximate to the Meadowlands- Bergen, Hudson, Essex, Morris and Passaic is 3.5 million. Monmouth and Ocean county populations aggregate to 1.2 million. Then of course there's the 1.7 million people in Manhattan as Class mentions. Other central/south Jersey counties also have Phila as an option. The population demographics are also completely different, so a 9x Club Med to Monmouth ratio doesn't really surprise me.

Last edited by alhattab; 09-17-2020 at 09:59 AM.
alhattab is offline   Reply With Quote Reply
Old 09-17-2020, 10:11 AM   #14
lamboguy
Registered User
 
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,653
Quote:
Originally Posted by alhattab View Post
Maybe as it relates to the on-line presence this is true, but otherwise a ridiculous comparison. The counties' aggregate population proximate to the Meadowlands- Bergen, Hudson, Essex, Morris and Passaic is 3.5 million. Monmouth and Ocean county populations aggregate to 1.2 million. Then of course there's the 1.7 million people in Manhattan as Class mentions. Other central/south Jersey counties also have Phila as an option. The population demographics are also completely different, so a 9x Club Med to Monmouth ratio doesn't really surprise me.
it really has nothing to do with the demographics.
what happened was before they passed sports gambling, The Meadowlands was opening up online accounts in anticipation of the sports gambling becoming law. while this was happening, Drazen sat on his ass and waited. now the meadowlands has most of the online business and monmouth is on catch up phase.

this is the difference between success and failure. it happens all the time everywhere in every aspect of life. we just saw it this year with the corona. places like Korea, New Zealand, Australia dealt with the problem before it hit their shores. when we shut down the airports here it was already to late.
lamboguy is online now   Reply With Quote Reply
Old 09-17-2020, 10:41 AM   #15
affirmedny
Registered User
 
Join Date: Nov 2007
Posts: 1,056
It's hard to feel sorry for them, they don't do much to help themselves. Last Friday with NYRA and Del Mar dark would have been a great opportunity for them but they were dark(Woodbine handled 6M). It would have been a rare chance for their races to be featured on TVG without being up against more popular tracks. Also Sunday they took the races off the grass in the middle of the card(it was not raining, I never heard the reason given). What are they saving the turf for this late in the season? They also own the OTB in Woodbridge which is poorly run. It's very obvious management are horse people, not gambling people.
affirmedny is offline   Reply With Quote Reply
Reply




Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

» Advertisement
Powered by vBadvanced CMPS v3.2.3

All times are GMT -4. The time now is 10:51 AM.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Copyright 1999 - 2023 -- PaceAdvantage.Com -- All Rights Reserved
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program
designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.