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02-14-2018, 12:57 PM
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#46
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@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
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Quote:
Originally Posted by PaceAdvantage
What don't I know?
That takeout used to be lower in racing?
No shit.
How about actually addressing what is being discussed?
SO WHAT that it used to be 10% or 14% or whatever lower number than it is today.
Just because it used to be 10% doesn't mean we can magically go back to 10% and everything will be peachy.
Jeez man...how do you even arrive at that conclusion?
Oh, I know...because SPORTS BETTING can work at that number
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As I said, takeout on sports betting is much lower than 10%. It is sub 5%.
Also, there is some risk to the bet taker in sports. There is no risk in horse racing.
Last edited by cj; 02-14-2018 at 01:03 PM.
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02-14-2018, 01:10 PM
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#47
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@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
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Quote:
Originally Posted by jay68802
How any one thinks that bringing potential new customers to a track so that horse racing can show how bad their product is, is a good idea, is beyond me. And once they show these new customers how bad their product is, even if they change and improve their product, good luck getting them to come back. Sure, at first you might get a small increase in handle, but in the long run, the tracks will lose what they desperately need, and that these potential new customers.
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02-14-2018, 01:13 PM
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#48
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,626
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cj, that's way too old school...
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02-14-2018, 01:24 PM
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#49
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Registered User
Join Date: May 2008
Location: Nebraska
Posts: 15,123
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I prefer "mid-age school".
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02-14-2018, 01:36 PM
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#50
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Registered User
Join Date: Feb 2014
Posts: 4,520
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Very surprised no one is talking about the huge elephant in the room.
The Betfair exchange. Huge in online sports betting.
The american standard. Bet and wait for result.
Betfair allows in-play wagering.
Can you image the NFL inplay with Brady and his antics?
Its great betting in race right now for me.
even if I lose (yes I do lose some of my wagers).
Its a blast.
Its a winning idea for Monmouth park.
BTW wagering on the sport of horse racing is sports betting.
the more sports that we can legally bet on the better.
In play. lots of props for each game.
I am ready for it.
Allan
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02-14-2018, 01:40 PM
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#51
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Registered User
Join Date: Feb 2014
Posts: 4,520
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Quote:
Originally Posted by cj
As I said, takeout on sports betting is much lower than 10%. It is sub 5%.
Also, there is some risk to the bet taker in sports. There is no risk in horse racing.
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No risk on the exchange sports betting on betfair. 1. make you bet 2. winner pays commission on winnings. Betfair makes money on every winning market.
The only thing that matters is handle, not which side wins or loses.
very simple concept.
Allan
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02-14-2018, 01:46 PM
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#52
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@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
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Quote:
Originally Posted by biggestal99
No risk on the exchange sports betting on betfair. 1. make you bet 2. winner pays commission on winnings. Betfair makes money on every winning market.
The only thing that matters is handle, not which side wins or loses.
very simple concept.
Allan
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Agree, but until the rest of the world gets it legalized, not so great. Betfair does usually forget to mention those commissions when touting the price you can get.
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02-14-2018, 01:56 PM
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#53
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Registered User
Join Date: Feb 2014
Posts: 4,520
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Quote:
Originally Posted by cj
Agree, but until the rest of the world gets it legalized, not so great. Betfair does usually forget to mention those commissions when touting the price you can get.
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Yeah there always that. I have my account on Betfair setup so that I see my winnings WITH commission included. so a 1 dollar winning becomes 88 cents won. disconcerting at first but now after 2 years on the exchange I am used to it.
Allan
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02-14-2018, 02:51 PM
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#54
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Registered User
Join Date: Mar 2007
Posts: 1,993
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Quote:
Originally Posted by PaceAdvantage
You're not living in reality if you think racing in its current, self-imposed state, can survive on 10% takeout.
I'm not saying takeout shouldn't be lowered, so don't put words in my mouth.
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What is the self imposed state that cannot be changed for the better(or better yet, BETTOR)? You act like they are in fricking shackles. I just see a bunch of pompous executives that think they are geniuses.
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02-14-2018, 02:58 PM
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#55
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,626
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Quote:
Originally Posted by Poindexter
What is the self imposed state that cannot be changed for the better(or better yet, BETTOR)? You act like they are in fricking shackles. I just see a bunch of pompous executives that think they are geniuses.
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The proverbial rock and a hard place.
And a lot are in shackles. For example, many "pompous executives" would have a hard time convincing all the powers that be (horsemen's groups, the state, etc. etc...in essence everyone who has their HAND in the TILL), that lowering takeout and thus risking lower revenues would be a GOOD THING in the long run.
So yeah, they are in shackles...but only because the industry as a whole has put itself there due to poor decision making through the years.
People think a track can just wave their magic wand and the next day takeout will drop a few points on a whim?
Last edited by PaceAdvantage; 02-14-2018 at 03:00 PM.
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02-14-2018, 03:14 PM
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#56
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@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
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Well, it certainly seems takeout raises on a whim are easy enough to implement.
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02-14-2018, 03:21 PM
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#57
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Registered User
Join Date: Mar 2007
Posts: 1,993
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Quote:
Originally Posted by cj
Well, it certainly seems takeout raises on a whim are easy enough to implement.
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Indeed fascinating. Keeneland raises purses, causing a huge public outcry and organized boycott including an angry response from one of it's biggest owners, yet no problem there. But if they want to bring down takeout to a compettive level, so this game can take off, "no can't do that".
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02-14-2018, 03:23 PM
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#58
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,626
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Quote:
Originally Posted by cj
Well, it certainly seems takeout raises on a whim are easy enough to implement.
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You know why that is...since when do horsemen or the state ever say no to a takeout raise?
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02-14-2018, 04:25 PM
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#59
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@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
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Quote:
Originally Posted by PaceAdvantage
You know why that is...since when do horsemen or the state ever say no to a takeout raise?
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I haven't read many reports about lower takeout requests being shot down.
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02-14-2018, 05:37 PM
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#60
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Registered User
Join Date: Apr 2016
Posts: 181
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Why make a difference between horse racing and other sports? At European bookies you can play a parlay with a horse race, a tennis match and a football game or what ever...
__________________
"A difference of opinion is what makes horse racing and missionaries." Will Rogers
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