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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08-21-2018, 02:04 PM
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#1
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Registered User
Join Date: Mar 2017
Posts: 5,808
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Neilsen Sports Research says Racing better get its act together with competitive odds
There’s a way to do this but the Industry should have gotten started yesterday. Love to see California lead by lowering the takeout and breakage on higher churn wagers.
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08-21-2018, 02:40 PM
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#2
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,943
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Quote:
Originally Posted by Andy Asaro
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What does "higher churn wagers" mean?
Does this mean bigger bets or bigger bettors?
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08-21-2018, 02:44 PM
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#3
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@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,844
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Quote:
Originally Posted by Dave Schwartz
What does "higher churn wagers" mean?
Does this mean bigger bets or bigger bettors?
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Higher churn wagers are the straight pools, then exactas/doubles, etc.
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08-21-2018, 03:32 PM
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#4
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,943
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Quote:
Originally Posted by cj
Higher churn wagers are the straight pools, then exactas/doubles, etc.
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Ah. Thanks.
What's not to agree with?
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08-21-2018, 03:52 PM
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#5
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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Nationalized fixed odds straight pool wagering for horse racing is the answer.
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08-21-2018, 04:29 PM
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#6
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Registered User
Join Date: Mar 2017
Posts: 5,808
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08-21-2018, 07:54 PM
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#7
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Registered User
Join Date: Nov 2014
Location: Missouri
Posts: 2,218
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08-21-2018, 08:49 PM
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#8
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Registered User
Join Date: Mar 2017
Posts: 5,808
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Excerpt:
“The actual effective takeout rate is far higher than what’s even being reported,” Cummings said. "That 17.3 percent – that’s the average published takeout rate – doesn’t really factor in elements like breakage, which is something that we’re really quite keen on and talking about and really educating the public.”
While takeout is the percent of money a racetrack retains from pari-mutuel pools for race purses, taxes or operating expenses, breakage is the pennies retained by a racetrack or state after a pari-mutuel payoff is rounded down to nickels or dimes.
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08-21-2018, 10:16 PM
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#9
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Registered User
Join Date: Sep 2008
Location: Naples, Fl
Posts: 146
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I’ve never understood why us players do not boycott or join and Lobby to get rid of breakage. It’s theft in my opinion and it adds up fast. Just ridiculous how they gouge their customers.
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08-22-2018, 03:09 AM
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#10
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Registered User
Join Date: May 2008
Location: Nebraska
Posts: 15,136
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Quote:
Originally Posted by Afleet
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Maybe PA let LoneF come back.
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08-22-2018, 04:56 AM
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#11
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Registered User
Join Date: Aug 2017
Posts: 3,641
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Quote:
Originally Posted by whisperlunch
I’ve never understood why us players do not boycott or join and Lobby to get rid of breakage. It’s theft in my opinion and it adds up fast. Just ridiculous how they gouge their customers.
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IF it were going to race horse retirement / rehoming or injured/paralyzed jockey or exercise rider fund, I could live with it.
Unfortunately, it's not. Yeah, it's theft.
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08-22-2018, 07:38 AM
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#12
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Registered User
Join Date: Oct 2012
Posts: 75
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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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08-22-2018, 09:13 AM
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#13
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Registered User
Join Date: Mar 2017
Posts: 5,808
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I heard the stock market was taking a look at the Horse Racing breakage model. Then all the pr*cks who don't want to change it to a penny would get it.
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08-22-2018, 02:07 PM
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#14
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clean money
Join Date: Sep 2006
Location: Maryland
Posts: 23,568
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A Modest Proposal
FIELD SIZE APPROPRIATE MEASURES
<5 horses = cancellation, rescheduled race to a later date
=5 horses = 10% Takeout WPS
=6 horses = 12% Takeout WPS
=7 horses = 14% Takeout WPS
≥8 horses = 16% Takeout WPS (capped/ceiling)
__________________
Preparation. Discipline. Patience. Decisiveness.
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08-22-2018, 09:15 PM
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#15
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,943
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Quote:
Originally Posted by Robert Fischer
FIELD SIZE APPROPRIATE MEASURES
<5 horses = cancellation, rescheduled race to a later date
=5 horses = 10% Takeout WPS
=6 horses = 12% Takeout WPS
=7 horses = 14% Takeout WPS
≥8 horses = 16% Takeout WPS (capped/ceiling)
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I really like this idea.
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