Oaklawn Park & 10% T/O on track show bets

[Tom]

A track doing something to benefit their customers who show up.
What is with these people....loose cannons???

[dilanesp]

Originally Posted by BELMONT 6-6-09

Eliminating the show pool might create some win/place betting this way the newbies can have a hedge bet and eventually progress to win only and the exotics if they see fit.

Or it might drive newbies away entirely because they go to the track and don't cash any tickets.

[lamboguy]

Originally Posted by lamboguy

if this works the way the track wants it to work, they will probably do the same thing with the place pools and maybe even the win pools.

i suspect the reason why they came up with this is to get more breakage. the breakage doesn't get shared with the horsemen or the government and this is what they figured out to boost up their revenue share for the house. the horsemen probably didn't object because the purses are very high there this year, $70K for a msw race.

i think i misstated that, the breakage is part of the handle and they would have to still payout the shares of the handle, but unless the handle would increase the share paid out decreases while the breakage hold increases

[green80]

Will they have 2 different show prices? one for on track and one for off?

Just one show price is listed today.

[Redboard]

Even at 10% rake, one has to bat 1000 to make money off this bet. Now exacta would be different. Appreciate the effort though.

[davew]

Originally Posted by green80

Will they have 2 different show prices? one for on track and one for off?

Just one show price is listed today.

On the live feed, they showed the on-track show price.
I only watched one race, but it was 20 or 40 cents higher for that race.


I do not understand Lambo why you feel they will get more breakage? It will just have less variance and still average near 10 cents per pay-off, won't it?


I am scratching my head how they even figure it out - anyone have any ideas? They can't have 2 pools for show -> take entire breakage out, figure pay-offs and then add 7% back in for on-track?

[dilanesp]

Originally Posted by davew

On the live feed, they showed the on-track show price.
I only watched one race, but it was 20 or 40 cents higher for that race.


I do not understand Lambo why you feel they will get more breakage? It will just have less variance and still average near 10 cents per pay-off, won't it?


I am scratching my head how they even figure it out - anyone have any ideas? They can't have 2 pools for show -> take entire breakage out, figure pay-offs and then add 7% back in for on-track?

They can do it the same way NYOTB did it for years.

[PhantomOnTour]

Originally Posted by Nitro

You mean they should follow an extremely successful program like the Hong Kong betting platform? Heaven forbid!

That and SO-O-O-O many other good things about their racing product is right there in front of all our blind stateside racing jurisdictions. It’s no wonder that these racing programs are going in opposite directions from a player's perspective.

i thought the place bet overseas covered those who finished 2nd AND 3rd?

[davew]

Originally Posted by PhantomOnTour

i thought the place bet overseas covered those who finished 2nd AND 3rd?

It depends on number of starters in UK, sometimes even 4 horses

[PhantomOnTour]

Originally Posted by davew

It depends on number of starters in UK, sometimes even 4 horses

Thanks...was trying to make the point to Nitro (who is having a mad love affair with HK) that they do have "show" wagering in Hong Kong; they just happen to refer to the bet as "place"

So, if i bet a horse to place in a 10 horse field in HK and my runner finishes third, do I still cash?

[EMD4ME]

RACE 6 Win pool $84K
Place pool $35K
Show pool $39K

Nice to see a track try an idea that I threw out there many times. (Lower takout for a wager(s) on track. )



And in other parts of the country: Track exec : "We don't really need to broadcast our races on TV's, right?

Other overpaid exec:"The moment you start caring about the bettor, you know you lost it".

[AltonKelsey]

Originally Posted by dilanesp

The LA Times article I posted at the end of last month indicated that tracks have studied eliminating show betting and come to the conclusion it is a bad idea.

And I believe that. It attracts novice players by giving them a bet that allows them to cash some tickets when they go to the races.

At the average racetrack, on an average day, I doubt it's novices using the show pool. 99% hardcore bettors.

[dilanesp]

Originally Posted by AltonKelsey

At the average racetrack, on an average day, I doubt it's novices using the show pool. 99% hardcore bettors.

I agree in general, but you have to look at it differently. When new blood does go to the track, do you want the show bet available to them? The reality is that it's unlikely that novice players are going to churn a lot of handle in any sort of bet, but if they cash some tickets it might encourage them to come back more.

[AskinHaskin]

Originally Posted by davew

On the live feed, they showed the on-track show price.
I only watched one race, but it was 20 or 40 cents higher for that race.


I do not understand Lambo why you feel they will get more breakage? It will just have less variance and still average near 10 cents per pay-off, won't it?


I am scratching my head how they even figure it out - anyone have any ideas? They can't have 2 pools for show -> take entire breakage out, figure pay-offs and then add 7% back in for on-track?

Breakage has little to do with any of it.

The modern wonder that is Net Pool Pricing probably makes this task far more do-able in 2017 than it might have been in 1983.

After all, they are taking different percentages out of the same pools all over the continent as it is, and unlike in 1983.