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Old 07-05-2009, 12:27 PM   #1
Cangamble
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Ouch: Betting Down 17% in June

http://www.paulickreport.com/blog/us...by-17-in-june/
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Old 07-05-2009, 12:35 PM   #2
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That's what a hard recession will do. I'm surprised its not down more.
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Old 07-05-2009, 12:41 PM   #3
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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.
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Old 07-05-2009, 12:41 PM   #4
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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.
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Old 07-05-2009, 01:01 PM   #5
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Its my fault I didn't play for 3 weeks......
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Old 07-05-2009, 01:13 PM   #6
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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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Old 07-05-2009, 01:27 PM   #7
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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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Old 07-05-2009, 01:29 PM   #8
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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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Old 07-05-2009, 01:32 PM   #9
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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 Parkís racino led the gross revenues at the stateís slots facilities, producing $356.2 million. Chester Racetrack produced $319.6 million. Others in order were the Meadows with $264.4 million, Penn Nationalís 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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Old 07-05-2009, 01:35 PM   #10
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The quote from Paulick that tells me it isn't just the economy:

Quote:
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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Old 07-05-2009, 01:41 PM   #11
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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.
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Old 07-05-2009, 01:43 PM   #12
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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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Old 07-05-2009, 01:47 PM   #13
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Quote:
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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Old 07-05-2009, 01:52 PM   #14
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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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Old 07-05-2009, 01:53 PM   #15
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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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