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Sunday, September 25, 2011

Here Comes the Money!

As expected with VLT's imminent, NYRA announced significant purse increases for the Big A, starting on Jan 1; average daily prizes will go up to $375,000 from $275,000.

A few more examples of the purse increases are as follows:

* Allowance n2x - $69,000 for routes, $64,000 for sprints, up from $47,000 and $46,000
* Allowance n2x (New York-breds) - $59,000 for routes, $54,000 for sprints, up from $43,000 and $42,000
* Allowance n1x - $67,000 for routes, $62,000 for sprints, up from $45,000 and $44,000
* Allowance n1x (New York-breds) - $57,000 for routes, $52,000 for sprints, up from $41,000 and $40,000
* Maiden Special Weight - $65,000 for routes, $60,000 for sprints, up from $43,000 and $42,000
* Maiden Special Weight (New York-breds) - $55,000 for routes, $50,000 for sprints, up from $39,000 and $38,000
* 10k Claiming - $31,000 for routes, $30,000 for sprints, up from $21,000 and $20,000 [NYRA Press Release]
Wow. Take that, Parx. Think we'll be seeing a few more horses around here during the winter seasons. At least until this starts to really take effect.

I've said this before, but, if a $10,000 claiming horse is running for an $18,000 winning share, then isn't it inherently worth more than $10,000 just based on that? It kind of blurs the line I think amongst claiming levels, and makes drops in class less significant in terms of viewing the trainer's motivation skeptically with respect to the horse's health or fitness. But we'll see.

- You knew that Saturday was a slow stakes day if the center of attention was that mediocre series of Kentucky Cup stakes races at Turfway capped off by the overgraded G2 Kentucky Cup itself, won by Future Prospect ($38.40), who was available for a 62K claiming tag over the summer.

It was kinda funny watching the Juvenile Fillies race on TVG. Tom Amoss was on the on-air team, and also had an entrant in the race; Charming Vixen was 6-1 morning line in her first try around two turns and on synthetic (though the latter also applied to most others). Amoss however was not shy about touting his filly's chances, and made her his 'checkmark' selection - talk about conflict of interest, and about getting a tip straight from the trainer!! Little surprise then she got bet down to 3-1. And keep that in mind for the next time you get a tip from Amoss, as she won the race handily!

In the juvenile colts race, a white streak named Hansen, who won his debut over the track by 12, won this one by 13, prompting a wave of hysterical Twitter tweets. Impressive pp lines to be sure but whoa, Nellie! Consider the competition (he earned a Beyer of just 80) and the surface before getting too excited about this son of Tapit, out of a Sir Cat mare, with nothing to show on his catalog page.


Racing Titbits said...

Well you are correct the price of a $10,000 claimer will have to go up. The only problem is that it is still a $10,000 claimer horse. That will create problems.

Steve Zorn said...

I wouldn't worry too much about the diminishing foal crop. 25,000 is probably about the right number for the country as a whole, and if Aqueduct goes to four days a week, 10 races a day, that might work very well. Assuming, of course, that we have a racing secretary who can write a condition book that makes sense and then use the races that trainers point their horses to.

The smaller foal crop spells trouble for some minor-league tracks. That's where I'd expect to see closings.

Anonymous said...

This won't help handle.

jk said...

How about using some of this windfall to reduce takeout. California tried increasing purses and the bettors still boycotted.

Steve Zorn said...

I'm still waiting for the study that shows everyone does better with reduced takeout. I.e, we know bettors do better, but what about total handle, which is the lifeblood for the track operators and horse owners. Probably the reason we can't prove it is that the whales who account for 25%-plus of the big-track pools get reduced takeout anyway, via rebates, and they're the folks most sensitive to the takeout rates. Does the ordinary $2 bettor care? Apparently not enough to make it worthwhile for the tracks to reduce the takeout.

jk said...

You are going to have a brand new slot parlor with 7% take out next to a rust bucket racetrack with 20-25% takeout. I do not think the horsemen need a study, they will gladly accept the slot money derived from the 7% slot takeout.

Anonymous said...

If you're waiting for a study you're clueless.

Figless said...

The study was done, NYRA reduced takeout under barry schwartz and it there was no increase in handle.

Anonymous said...

Published: June 25, 2003 nyt

The New York Racing Association announced yesterday that it would once more reduce the takeout, or the percent of each dollar held for purses, taxes and expenses.

Beginning July 2 -- pending the approval of the New York State Racing and Wagering Board -- the takeout on win, place and show bets will be cut to 13 percent from 14 while two-horse bets like exactas, daily doubles and quinellas will be lowered to 17 percent from 17.5.

''I have always believed that lower takeout is good for both the fans and those of us who benefit from the handle,'' Barry K. Schwartz, the chairman and chief executive of the N.Y.R.A., said yesterday in Saratoga Springs, N.Y. ''And what we have done now is make the lowest takeout in the nation even lower. It's a win-win situation for all involved.

''The reduction is particularly significant here at Saratoga, which attracts a number of novice bettors along with the more sophisticated horseplayer. People will have more money in their pockets because they will receive a better return when they cash tickets.''
Since the first takeout reduction took effect at the opening of the 2001 Saratoga meet, an additional $72 million will have been pumped back into the pockets of horseplayers nationwide that wager on N.Y.R.A. races by the time Saratoga opens on July 23.

In 2002, the first full year of the decreased takeout, an additional $223 million was wagered on N.Y.R.A. races, compared with 2000, the last full year before the takeout decrease.