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07-05-2009, 12:27 PM
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#1
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Agitator
Join Date: Feb 2007
Location: Niagara Region, Ontario
Posts: 2,240
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Ouch: Betting Down 17% in June
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07-05-2009, 12:35 PM
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#2
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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That's what a hard recession will do. I'm surprised its not down more.
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07-05-2009, 12:41 PM
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#3
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Registered User
Join Date: Apr 2006
Posts: 3,630
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our family's casino business drop/handle is down about 20% also. credit card purchases are wayyyy down, i think people aren't able to get credit either on their cards or home equity loans like so many were for a while.
__________________
Check out my daily horse racing podcast The BARN at www.betamerica.com/barn
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07-05-2009, 12:41 PM
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#4
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Screw PC
Join Date: Jun 2003
Posts: 15,728
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Just remember to turn off the light when you leave the room.
Small fields, plastic dirt, inability to play the tracks I would like to play, my interest in handicapping and wagering is not any where near what it was even 5 years ago.
__________________
Truth sounds like hate to those who hate truth.
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07-05-2009, 01:01 PM
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#5
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Registered User
Join Date: Nov 2007
Posts: 2,202
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Its my fault I didn't play for 3 weeks...... 
__________________
I hate losing more than I love winning......
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07-05-2009, 01:13 PM
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#6
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Registered User
Join Date: Feb 2003
Location: Dark Side of the Moon
Posts: 5,870
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17 ha, thats nothing, they are hanging tough
I am in real estate development in Az and we are down about 70% from last year and over 100% from the year before.
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07-05-2009, 01:27 PM
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#7
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Registered User
Join Date: Jul 2006
Location: Toronto
Posts: 4,962
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I guess the thing that is disconcerting is that Real Estate was at least at one time up with the economy. Horse racing has been down even before the recession.
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07-05-2009, 01:29 PM
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#8
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Registered User
Join Date: Jul 2009
Location: NJ
Posts: 3,822
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Casinos are down even more---it's the economy and not horse racing.
The best investments are liquor stores and fast food restaurants---they usually do well in tough economic times.
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07-05-2009, 01:32 PM
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#9
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Registered User
Join Date: Jul 2006
Location: Toronto
Posts: 4,962
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People are gambling still, just at the 'cino' part of racinos.
http://www.standardbredcanada.ca/new...s-revenue.html
Quote:
Slot machine play in Pennsylvania in the 2008-9 fiscal year reached almost a billion dollars, up 24.86% over the previous fiscal year.
Philadelphia Park’s racino led the gross revenues at the state’s slots facilities, producing $356.2 million. Chester Racetrack produced $319.6 million. Others in order were the Meadows with $264.4 million, Penn National’s Hollywood racino with $219.2 million, Pocono Downs with $216 million.
All of those but Chester were up in gross revenue, Pocono leading the increase from June 2008 to June 2009 with a 37.65% jump, and the Meadows up 19.16%.
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07-05-2009, 01:35 PM
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#10
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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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The quote from Paulick that tells me it isn't just the economy:
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If the declines persist, 2009 will be the fifth year in the last six that pari-mutuel wagering on U.S. races has fallen, and the year-end totals may be the lowest since 1998, when just over $13 billion was handled.
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-jp
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__________________
Team JCapper: 2011 PAIHL Regular Season ROI Leader after 15 weeks
www.JCapper.com
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07-05-2009, 01:41 PM
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#11
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,871
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People are waking up.
The game is not.
It is doomed because it is run by totally clueless people.
On the grand scale, racing is a notch above WWE Wrestling as far as integrity goes. Oh, wait, WWE admits it is not a sport. 
__________________
Who does the Racing Form Detective like in this one?
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07-05-2009, 01:43 PM
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#12
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Registered User
Join Date: Dec 2008
Posts: 429
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Does anyone know where there's information regarding OTB/online/on-track betting breakdowns of the total industry handle?
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07-05-2009, 01:47 PM
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#13
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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Quote:
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Originally Posted by Tom
People are waking up.
The game is not.
It is doomed because it is run by totally clueless people.
On the grand scale, racing is a notch above WWE Wrestling as far as integrity goes. Oh, wait, WWE admits it is not a sport. |
Absolutely. Unfortunately I don't see those clueless people working to get the takeout lowered.
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07-05-2009, 01:52 PM
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#14
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Veteran
Join Date: Apr 2009
Posts: 9,908
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Downsize for the millionth time already!
Too little handle for too many tracks!
10% across the board take brings back most of the offshore money! A one weekend experiment would be nice to try. What's the downside of trying?
When TVG signs a contract with a track like Woodbine that has a ridiculous take on tri's then you know they don't get it and are moving in the other direction. What direction is that? The down the drain direction!
Last edited by andymays; 07-05-2009 at 01:53 PM.
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07-05-2009, 01:53 PM
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#15
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Registered User
Join Date: Jul 2006
Location: Toronto
Posts: 4,962
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Watcher, offtrack/otb/online are 89% of handle. I think that was what the report said last year but I could be mistaken and cant find the link right now.
Valuist,
I guess the question is, with $1B in slots revenue in PA alone, do they even care they have 32% exotic takes?
the scary thing is if you show them that dropping slots takeout from 7% to 5% would raise revenues and profits they would do it in a heartbeat. if you show them that dropping their takes to 15% would raise revenues and profits for racing they will call you names and say that they will go broke and you are a whiny bettor who knows nothing about "putting on the show".
Last edited by DeanT; 07-05-2009 at 01:55 PM.
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