tag:blogger.com,1999:blog-8711985.post3410598556419885145..comments2024-03-05T05:38:22.024-05:00Comments on Left at the Gate: Here Comes the Money!Alan Mannhttp://www.blogger.com/profile/12570505944559196118noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-8711985.post-81549503538476832752011-09-29T16:11:14.919-04:002011-09-29T16:11:14.919-04:00Published: June 25, 2003 nyt
The New York...Published: June 25, 2003 nyt<br /><br /><br /><br /><br /><br /> <br /><br /><br />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.<br /><br />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.<br /><br />''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.<br /><br />''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.''<br />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.<br /><br />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.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8711985.post-43872633444506859222011-09-29T12:16:45.726-04:002011-09-29T12:16:45.726-04:00The study was done, NYRA reduced takeout under bar...The study was done, NYRA reduced takeout under barry schwartz and it there was no increase in handle.Figlessnoreply@blogger.comtag:blogger.com,1999:blog-8711985.post-85423719911453401452011-09-28T16:48:14.277-04:002011-09-28T16:48:14.277-04:00If you're waiting for a study you're cluel...If you're waiting for a study you're clueless.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8711985.post-44340814434477252011-09-27T16:32:00.841-04:002011-09-27T16:32:00.841-04:00You are going to have a brand new slot parlor wit...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.jknoreply@blogger.comtag:blogger.com,1999:blog-8711985.post-73706771801994282872011-09-27T12:27:03.091-04:002011-09-27T12:27:03.091-04:00I'm still waiting for the study that shows eve...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.Steve Zornhttps://www.blogger.com/profile/00290710261555708639noreply@blogger.comtag:blogger.com,1999:blog-8711985.post-54282445911600816922011-09-26T11:26:41.053-04:002011-09-26T11:26:41.053-04:00How about using some of this windfall to reduce ta...How about using some of this windfall to reduce takeout. California tried increasing purses and the bettors still boycotted.jknoreply@blogger.comtag:blogger.com,1999:blog-8711985.post-74599366349865963942011-09-25T20:52:06.866-04:002011-09-25T20:52:06.866-04:00This won't help handle.This won't help handle.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8711985.post-50167471003078115042011-09-25T19:54:46.313-04:002011-09-25T19:54:46.313-04:00I wouldn't worry too much about the diminishin...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. <br /><br />The smaller foal crop spells trouble for some minor-league tracks. That's where I'd expect to see closings.Steve Zornhttps://www.blogger.com/profile/00290710261555708639noreply@blogger.comtag:blogger.com,1999:blog-8711985.post-43924652437252113162011-09-25T17:10:49.416-04:002011-09-25T17:10:49.416-04:00Well you are correct the price of a $10,000 claime...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.St.Paddyhttps://www.blogger.com/profile/00015912239120662263noreply@blogger.com