In 2009, eight years after enabling legislation permitted VLTs at the state’s tracks, there were interminable delays in announcing the winner of the VLT franchise race. The Governor’s office announced a handful of dates throughout the year, none of which materialized.
In a closely related development Monday, a state task force released a report recommending how to overhaul the state's six regional off-track betting corporations, including New York City OTB, which has threatened to close its doors permanently following a March 30 deadline.
Among the task force’s many recommendations was a proposal that account-wagering operations outside New York, known as ADWs, be required to pay the same amount to horsemen's organizations and local governments via licensing fees that OTBs do.
The report further suggested that the state's six OTB regions consolidate its business and marketing functions and streamline its management. There also were references to having the New York Racing Association and the OTBs merge under one umbrella. Nothing new there.
Given these machinations, however, the franchise-naming delay by the current sitting Governor, David Paterson, is beginning to make sense. Efforts of conflicting lobbyists notwithstanding, the VLT decision might finally come only after the OTB situation is resolved in some meaningful way. OTBs want into the VLT business, also not a new development.
The interminable VLT-franchise delay doesn’t make sense unless one considers the NYC-OTB situation that necessitated Chapter 9 bankruptcy protection. Given there are 62 counties in New York that depend on OTB revenues, it is no wonder Albany’s eyes haven’t been focused on VLTs.
Whatever is decided relative to these issues, it will have a profound effect on the industry and its customers. And it is those fans, like taxpayers everywhere, who could wind up footing the bill. One involves the ADW scenario. The other, parimutuel takeout.
If the trifecta of legislators, racetracks and OTBs decide that raising takeout and requiring out-of-state ADWs companies to pay licensing fees are the only ways to go, it will hasten racing’s demise in this state. If you don’t believe a revolt is going on in this country, ask Martha Coakley.
There’s a recent example of the debilitating effects of takeout on handle that New Yorkers should heed. Two weeks ago, HorseRaceInsider, backing the play of the Horseplayers Association of North America, implored readers to e-mail the California Horse Racing Board requesting it not raise takeout on races from Los Alamitos.
According to HRI sources, the CHRB received 169 e-mail responses. Apparently horseplayers didn’t take the request or the threat seriously enough, and so neither did the CHRB. By a vote of 6-1, a takeout increase was passed to bail out struggling satellite betting shops in California, the Golden State’s OTB equivalent.
Four days of results is in no way a defining measure, but it is indicative of a trend. The numbers were nothing short of alarming. Comparing handle figures from January 21 through January 24 to Thursday-through-Sunday receipts from the previous week, handle was down $644,240, according to HANA President Jeff Platt.
Platt and fellow board members are unpaid individuals in a grass roots organization dedicated to fighting for horseplayer’s rights. Aware that torrential rains probably were a contributing factor, Platt also compared numbers with corresponding dates from a year ago to gain more perspective. Those figures were worse; the shortfall was $868,171.
A 20.75 percent drop year over year and a 16.27 percent loss suffered the week after a tax increase is enacted is significant. Poor weather is one thing but these numbers are indicative of something else.
Because of the work done by the Horseplayers Association of North America and other Internet sites that post takeout rates from tracks throughout the country, today’s educated horseplayers are aware of the inequities of takeout and have been betting their money at venues where dollars go farther.
It should be clear to those who control New York’s destiny that horseplayers no longer can be taken for granted. The player is voting with his dollars, concentrating on tracks with a good product at a fair price. Still others are voting with their feet and walking away for good. This on top of a demographic that skews older by the minute.
In his e-mail to HorseRaceInsider, Platt recalled that the CHRB promised tracks and the legislature that handle would remain flat. In the long term, a higher takeout NEVER does, although generally it takes time to make an impact. That’s what makes the Los Alamitos numbers so startling.
At whatever price point horseplayers are taxed out of the game, that consequence is a day-to-day reality. Whatever short term fixes worked in the past will destroy what’s left of the industry if repeated today. Past performances are not promising.
Anyone with sense agrees that the OTBs and tracks need to streamline operations and eliminate redundancies in bet-taking and marketing. Time has come to eliminate measures such as “dark-day payments” that reward tracks for not opening their doors. Unrestricted in-home simulcasts are long overdue.
There should be no restrictions on Internet video streaming, and counties should provide public access cable stations for horse racing broadcasts. Again, none of this qualifies as new ground but the time to act is now.
Harness tracks should compete for market share, just like flat tracks do, and they no longer should enjoy protectionist status to the further economic detriment of the OTBs and taxpayers. OTBs and tracks must, of course, reduce overhead and market creatively in tandem.
The current simulcast-rates model is broken and an attempt must be made to fix it. But ADWs shouldn’t be confused with the majority of rebate shops. Racing and Gaming Services is an example of a rebate shop that gives back to the industry, big-time.
And how were their contributions to NYRA purses in the form of simulcast fees rewarded in the past? NYRA responded by cutting its signal to RGS when putting on its dog and pony show while efforting to retain its own franchise. That’s not the kind of transparency anyone needs.
If the state demands licensing fees from out-of-state ADWs that take bets on New York racing, propping up OTBs by restraining trade, the tack is odds-on to backfire. Don’t legislators read newspapers?
Don’t they know that if fees are increased significantly many tracks and ADWs might not want to pay for New York’s races? Don’t they realize that interstate wagering is where the money is? Has anyone seen the New York product recently? Would you pay a premium for it?
Does the New York trifecta think protectionism will help corner the betting market within the state? Are they not aware that’s what New Jersey did when it enacted off-track betting, but recently reversed course after realizing it was a handle killer?
But what if you did this and made New Yorkers criminals by forcing them to bet illegally with their preferred ADW should that company fail to pay New York State a licensing fee? Don’t they realize that bettors will better-deal them, possibly betting offshore or leave the game completely?
There was a word for this early in the last century. It was an impetus for criminals to organize and syndicate their activities. It failed and eventually was repealed because it proved impractical and ineffectual, turning citizens into resentful “criminals.” Prohibition didn‘t work. Neither will protectionism and higher taxes in the new order of world class racing.


28 Jan 2010 at 11:13 am | #
JRP,
One of your sentences reads: “If the trifecta of legislators, racetracks and OTBs decide that raising takeout and requiring out-of-state ADWs companies to pay licensing fees are the only ways to go, it will hasten racing’s in this state.”
There is a word missing after ‘racing’s.’
28 Jan 2010 at 01:03 pm | #
Nick--I’ll lay you even money it is “demise”
28 Jan 2010 at 03:35 pm | #
Gentlemen,
It’s terrible when the brain moves faster than the fingers can move. Actually, the original word was downfall. Alas, I like Eric’s better. Correction noted, and made.
Meanwhile, no thoughts on the subject? Do you know how some say “be afraid, be really afraid?” Well, don’t think it needs to be said twice anymore.
Thanks for looking out.
JRP
28 Jan 2010 at 03:41 pm | #
John:
We have reached our final battlefield. After four decades of decay, primarily caused by the horrible debacle that is NYC-OTB, there are precious few roads left to travel.
We have been sounding the clarion call for Albany to do something for much too long. The only productive solution appears to be a “Scott Brown” type of revolution in NY politics. There is no reform or policy that can change the corrupt, incompetent legislature that exists in Albany. It is time to throw every “bum” out. We cannot have political-Nimbyism either. It is up to us to rid the Capital of our own “great” legislator. Individually, we cannot remove Shelly Silver ( unless one lives on the lower East Side). However, if we remove our “own” Assemblyman or Senator, then we will do our part to rid Albany of the Silvers, Skelos’ and Sampsons of the world.
By the way, if the brainiacs actually increase the pari-mutuel tax to “save” the sport, please count me out. Horse Racing should die a quick and painless death rather than the slow torture of being bled dry by the crooks and scoundrels in Albany. After all, if it is humane to put down an animal in ultimate distress, then why should the entire sport be treated any differently?
28 Jan 2010 at 03:58 pm | #
John,
Great job.
The next couple of month’s will be very interesting.
Couple of points:
“Harness tracks should compete for market share”
Why the trotters have been propped up for years has always been mind boggling to me. Let the game stand on it’s own two feet. Like any other business. OTB’s shouldn’t pay subsidies, in fact, no one should. The perception that harness races are “dishonest” goes back years and have driven many would be players away from the sport. They’re never coming back. The sport made it’s own bed. Let them lie in it.
NYC OTB will close on 3/31??
Isn’t this the same threat made a couple of years ago?? Indeed it is!! Except this time, the state won’t be there to take it off the city’s hands, since they now own it. The way NY State Govt moves, I won’t be shocked if the closure doesn’t turn out to be an empty threat.
Increase fees for NY races??
I think NYRA would be surprised to find out many players don’t think much of the daily fare usually offered. I could see some venues saying, “No Thank You”.
Consolidate and or privatize the six OTB regions in NY State.
DO NOT allow NYRA to take over OTB until they have a management team in place that can actually run their own shop efficently.
28 Jan 2010 at 04:17 pm | #
I actually don’t think the racing in NY has been bad this winter. I have now become accustomed to the product. Aqueduct winter,becomes Belmont,and then Saratoga,but the product remains pretty much the same,except for the Graded Stakes Races,which probably comprise 1% of the races. To me horse racing is a gambling game. The powers that be have hurt the game by not being aware of this.
The state and NYRA treat the game as it was 50 years ago. Its time for a wake up call.
Please tell NYRA and the state,that people have computers and like betting over the internet,that should be their main concern. People are not coming back to the track,except for specialty meets and special days.
All tracks should push that it is possible to win at this game,if you take the time to learn the game.
28 Jan 2010 at 06:17 pm | #
Great column! Unfortunately, knowing polticians, etc. higher taxes and takeouts will probably rule. As always, the tone-deafness of the poltical culture is sure to screw things up worse. That is my political rant of the day.
John, you make mention of RGS in your column as follows:
“The current simulcast-rates model is broken and an attempt must be made to fix it. But ADWs shouldn’t be confused with the majority of rebate shops. Racing and Gaming Services is an example of a rebate shop that gives back to the industry, big-time.”
“And how were their contributions to NYRA purses in the form of simulcast fees rewarded in the past? NYRA responded by cutting its signal to RGS when putting on its dog and pony show while efforting to retain its own franchise. That’s not the kind of transparency anyone needs”
That brings me to something I said in another post to you. The folks at NYRA, are still in so many ways living in the past. RGS is a good organization that tries it’s best to do whatever it takes to satisfy a track. There is another rebate shop out there I know of that has and will go through any hoop or barrel a track wants them to do to acquire a signal. Both of these entities have been willing to pay a higher rate to the track. The company I’m referring to has undergone numerous investigations (TRPB, etc.), showing complete transparency in their attempts to acquire NYRA’s signal.
And still, the NYRA people refuse to take their wagers.
So basically we have this. Both companies are willing to pay a premium rate for the signal. Both companies have more then done their due dilligance. Both companies would be wagering millions ont a NYRA card. but the so called purists or whatever at NYRA, an entity that is in severe financial distress are willing to settle for a percentage of nothing rather then tap a potent resource for revenue.
My point is, there are entities out there that are willing to pay the price for a signal. Bt it’s not just NYRA. Tampa Bay, Oaklawn, Finger Lakes, Philly and Delaware. All are willing to give up vast amounts of revenue by refusing to allow rebate shops to wager. We can argue the pros and cons of rebate shops all day, but they wager! Alot! As tracks around the country have point systems, etc. the rebate argument is really a moot point.
Are there bad ones out there? Yes! But those that do everything the tracks ask them to do should get that chance.
Last year, a company tried to market co-mingled racing from Hong Kong. The Red Chinese in their infinite wisdom decided to charge an insane rate in double figures. Of course, no one would take it.
We could not get it thru to them that 14% (an example) of $200 is one hell of a lot less then 8% of $1,000,000. Same in most racing commissions and states. Same in NY. Same with NYRA.
You have hit the nail on the head in this column. Everything you say is true. In the short term though, there is a revenue source that remains untapped for NYRA. EX: One of these entities alone would probably handle in the neighborhood of $100,000,000 a year and that’s probably conservative. That’s $5,000,000 a year just in track fees alone at 5%. No brainer here, isn’t it?
28 Jan 2010 at 06:29 pm | #
Your best work ever JRP. Thanks. Oh how the people are falling in love with the truth. There is an overdue meltdown in quality occurring presently; all the current meetings are substandard. The causes are numerous, identifiable and predictable. Nevertheles, roughly $500k in handle shows up/race. That speaks positive. The polticos have proven their ineptness. An association of major tracks can remit states more while stabilizing and redirecting the business and capitalizing on the enormous internet opportunities. The details, of course, are many; bottom line, there is a not inconsiderable amount of money out there longing to be channelled in the right direction.
28 Jan 2010 at 06:36 pm | #
I think it’s time for us bettors to issue a few demands and coordinate a targeted boycott: The demands: Choose a VLT operator, reform OTB, stream the races, and restructure takeout (10% straight bets, 15% exactas and doubles, 20% tris, supers, pick 3’s and 4’s, 25% pick 6). The boycott: the first race every Saturday.
28 Jan 2010 at 06:39 pm | #
John
I am curious about the handle data from CA. You mention 4 days of results and Los Alamitos after a takeout increase was voted on by CHRB. Are you trying to say that an increase took effect immediately and that was the effect on Los Al’s OTB handle?
I would encourage you to dig further on that issue. It is my understanding that what CHRB voted on empowered the tracks to change the distributions of the existing takout, and while it also enabled them to increase the takout, that has not happened nor are there any plans to do so.
Briefly, having worked with many of the NY entities in the last few years on these subjects, I recognize few outside the state have any influence on what goes on inside it. NYRA and others have taken a lot of politically motivated crap recently, most of it undeservedly in my opinion, and those people that are fighting these battles have the right goals in mind. I am eager to see some light at the end of the tunnel, and I beleive things are starting to turn; if only slightly.
28 Jan 2010 at 07:03 pm | #
Jeff,
Wish I could share your enthusiam and I’ll make e mail contact with Jeff Platt to determine where he got the figures. I know him to be an honorable person and have no reason to doubt the veracity of his data.
Kyle,
Interesting concept. I once organized a boycott of the NYRA Pick 6 back when there was no carryover provision. It was fairly successful but that’s not the point. You mkight be on to something here. You should contact HANA to see if they have any ideas or how they can help. But it will take a herculean effort to make a difference and I don’t believe that horseplayers have sufficient passion to become activists. But you never know. If you do contact them, please follow up with me? Thanks.
Doug, JB, Paul, Sarnataro: We have all been around the track more than once so I’m not surprised we’d be on the same page of many issues. I just hope it’s not too late. And it’s not in my nature to be an alarmist. But for the first time I’m worried. Common sense and/or apolitical behavior in the halls of power are in shorter supply than ever.
Aaron,
I felt the same way last year that you do now. But I can’t agree with your assessment of the game in NY this time around. Perhaps a semi-permanent four day race week would help. Probably started WW III with that suggestion.
That you all for your time, but mostly your passion.
JRP
28 Jan 2010 at 08:33 pm | #
John,
A four day race week,at least during the winter would probably help.
I also think a seven week or eight week, five day a week for Saratoga would be a good idea.
28 Jan 2010 at 08:43 pm | #
Aaron,
It probably will come to that someday in Saratoga; just’ll just keep adding four days at a time.
And before the Internet Typo Police catch up with me, that would be: “Thank you all for...”
JRP
28 Jan 2010 at 09:34 pm | #
@Jeff True—what you are talking about was a previous CHRB ruling of a month or two ago, that gave the tracks more leeway. The Los Al takeout raise being talked about here happened at the last meeting, 2% raise on all bets. And yes, those are the correct handle deltas from when the takeout raise went into effect at Los Al, all sources.
28 Jan 2010 at 10:26 pm | #
To ALL: My mistake on the takeout issue. It was done at Los Alamitos for a trial period through the end of Del Mar, unless sooner called off by the track. No TB tracks raised theirs. The cancellation of LARC Thursday nite racing for a couple months will affect the comparisons that guage the impact of that raise, but the rain and TB cancellations that happened last week surely affected the handle results the first week.
SO, my apologies for the mistake and my best wishes to Los Al on their efforts.
28 Jan 2010 at 10:34 pm | #
This is a post by Paul Moran over at Daily Racing News that is right on the mark and mirrors everything I and many others have said for years.
What does it mean? Odds-on that NY completely screws over the fans and racing in that state affecting racing nation wide. This is not a live longshot opportunity. The only runners in this race are coupled and are idiots.
It is amazing how JRP, Mr. Moran, all of us, the entire reporting, blogging and fan base can see the writing on the wall and no one making real decisions can see it. RIP TB and SB racing in the USA.
==================================
http://www.dailyracingnews.com/Column.aspx?id=39508
2009 Not So Good For Business
Daily Racing News
by Paul Moran
(3 weeks ago)
While Rachel Alexandra and Zenyatta carried the 2009 racing season into a special place in memory, the industry at large looks toward the new decade in well-founded fear. The year at our backs has opened a curtain on an uncertain future for racing. The good news during 2009 took place between white rails. The bad news was everywhere. If the stock market had mirrored the racing business, it would still be March.
The U.S. financial markets rallied in the second half of the year, but the ripple effect failed to impact any aspect of the racing industry. In the waning days of 2009, betting handle is on pace to drop 10 percent year over year to about $12.3 billion, the second straight year in which handle has declined by more than $1 billion. Purses are on pace to decline about 5.8 percent to $1.09 billion, a figure comparable with 2005.
Racing’s great depression has a wide wingspan and its fiscal difficulties are exacerbated by the umbilical cord that connects its every element to dimly witted political whim.
The New York Racing Association, having once emerged from bankruptcy, is again at the verge of insolvency. Why? After eight years of astounding incompetence by what is arguably the nation’s most corrupt and dysfunctional state government, the Empire State’s solons remain incapable of or unwilling to choose one from among several applicants, organizations that would finance and operate a video lottery terminal casino at Aqueduct that has the potential for enormous profit.
Governor David Paterson, whose approval ratings are behind Swine Flu’s, and state legislative leaders, a term employed here in the most obtuse sense, remain at unexplained gridlock over which of five bidding groups will operate the 4,500-maching Aqueduct VLT casino, first approved in 2001. The state, itself insolvent and facing unprecedented deficits, has turned its back on an estimated $400 million a year. NYRA, horsemen and breeders are seeing at least $60 million a year unrealized because of the unconscionable delay. Allowing for a year to construct, equip and staff the project, the state’s taxpayers have seen about $3.2 billion and the racing industry roughly $480 million lost to incompetent government.
But racing’s economic suffering at the hands of dysfunctional government is certainly not unique to New York. Pick a state.
In the heartland of the American thoroughbred breeding industry, poultry has become the most important agricultural commodity in Kentucky, once identified primarily with horses, bourbon and tobacco. The world has indeed changed.
In June, the Kentucky House of Representatives approved video lottery terminals, a measure supported by Gov. Steve Beshear. The Republican-controlled Senate refused to advance the bill out of committee, the export of broodmares to other states with more lucrative, slot-fueled incentives accelerated and with them money and jobs. A subsequent attempt by racing leaders to elect more sympathetic legislators failed in November.
In Maryland, slots were approved in 2009 but it appears that they are destined for locations other than the state’s long-neglected racetracks, which exist hand-to-mouth surrounded by insurmountable competition blithely ignored by those who occupy the salons on Annapolis. New Jersey and Ohio politicians have taken no measures to support racetracks and those dependent upon the industry in those states. More American racetracks, including most of those which are—or were—part of the crumbling Magna Entertainment group, face bankruptcy than prosperity at the end of 2009.
Economic erosion is no less global in racing than in the financial markets to which every segment of the industry is tethered.
Only a few months before the government-owned Dubai World went hat in hand to its United Arab Emirates brethren Abu Dhabi in need of a bailout, construction continued at the beyond-lavish Meydan racetrack, Sheikh Mohammed was at Saratoga, propping up the Fasig-Tipton Sales Company newly acquired by Dubai interests while spending lavishly for the progeny of his own stallions and the last yearling offspring of Storm Cat offered at auction. In the process, while the situation at home deteriorated, the real estate market withered, development slowed and the airport parking lot filled with abandoned luxury automobiles the unemployed former owners of which had fled the emirate, Sheikh Mo was single-handedly responsible, smoke and mirrors notwithstanding, for what was the summer’s only successful sale of yearlings.
Meanwhile, though concern is dismissed in the region of the Persian Gulf, the face of racing internationally will be changed should the leaders of Dubai find it necessary to reduce their level of participation, which to some degree touches every continent on which the sport is conducted.
Optimists suggest that the market for horses may be improving with a revival of the general economy. For realists: Not so much.
The market is in contraction. Projected foal numbers for 2010 are the lowest since 1979 and the commodity least in demand during the second half of 2009 was the less-than-proven-stakes producing broodmare, especially those owned by small-scale breeders forced out of a bearish bloodstock market. The equine victims are countless.
It was a year during which the nation’s many organizations dedicated to rescue of neglected horses and those whose owners could no longer afford their upkeep saw unprecedented need of their services. Early in 2009, dozens of emaciated horses were discovered on a New York farm operated by the once prominent now infamous owner, Ernie Paragallo, who was later charged with cruelty to animals and stripped of whatever racing licenses he still held. By autumn, many farms in New York were forced to padlock gates at night after desperate, struggling owners began turning loose horses under cover of darkness.
While abandoned horses were found languishing in various stages of neglect in almost every part of the country, thousands were rescued, treated and relocated. Sadly, uncounted others suffered less fortunate fates as rescue efforts broaden and gained support but nevertheless lag the need despite the best, wide-ranging efforts of humans. Through November, an Internet-based organization headed by exercise rider Alex Brown, placed 540 horses with new owners. In December, the owner-funded California Retired Management Account contributed $264,000 to a dozen organizations caring for retired West Coast racehorses, an increase of approximately 50 percent from the amount distributed in 2008, the organization’s first year of fundraising.
“We are extremely proud of the work we have done over the past 12 months. These funds will help buy much needed hay, feed and medications. Hopefully this will give a financial cushion to each of the charities,” said CARMA Board Chair Madeline Auerbach. “We’re able to see a tangible difference at the farms and facilities where the horses live. As we go out and visit organizations throughout the year, our directors are seeing the money put to work.”
If tireless humane efforts like these gained momentum during the past year, other important areas of concern long left begging for reform remain stagnant.
No progress was made during 2009 in the areas that have become festering issues plaguing a hopelessly fragmented industry: Uniform medication rules, standards and penalties; absence of central leadership, accountability and transparency. Public perception that all in racing is not entirely above board persists. The structure and expansion of the Breeders’ Cup remains a subject of controversy. The sport’s once-robust profile in the mainstream media has never been lower and shows no sign of regained life.
The question of synthetic racing surfaces saw a gap in support widen while the industry awaits a comprehensive study on breakdowns. The Fair Grounds, Turfway Park, Arlington Park and other tracks experienced rashes of breakdowns during the year.
Two of those breakdowns at Arlington claimed the careers of the jockeys involved and raised serious questions among riders regarding the safety of Polytrack, the synthetic surface in place at the suburban Chicago track. After veteran Rene Douglas, a six-time leading rider at Arlington, and apprentice jockey Michael Straight were left paralyzed by accidents last summer, riders voiced concern and raised questions about the safety of the surface they once supported.
Terry Meyocks, president of the Jockeys Guild, says the Guild doesn’t have a stance ¬-- pro or con—on synthetic surfaces.
“We’ve got to keep monitoring it,” said Meyocks, who noted that three jockeys have died during racing over the last 15 months, none on synthetic surfaces. “We are going to be talking to tracks about a database on riders’ injuries. It would be nice to get an idea on the impact of surfaces.”
While most of bankrupt Magna Entertainment, once the leading owner of American racetracks, is sold off in pieces, Churchill Downs Inc. and Betfair positioned themselves to dominate the growing U.S. advance-deposit wagering market. The British firm Betfair purchased Television Games Network for $50-million in January and Churchill’s pending $126.8-million purchase of Youbet.com announced in November will expand significantly its Twinspires.com platform.
While the 2009 season was unquestionably an artistic success that has culminated in great public interest in the Horse of the Year debate there is no other aspect of a diverse industry that begins the new decade in a position of comfortable, queasy certainty.
Fewer thoroughbreds will be born in 2010. Quite likely, when old enough they will race for less money at fewer racetracks. The year just past may well be the beginning or the steepening of a downward spiral the end of which we cannot yet see and hesitate to imagine. This is not entirely the fault of those involved even at the thing and crumbling upper crust of what passes as leadership. The larger global economy is a factor but so is the arrogant abdication of responsibility on the part of those who occupy elected office.
Unlike other sports and businesses, racing—because of an unhealthy dependence upon state regulation and the self-interested political local influences at work in almost every jurisdiction—there is no guarantee that the industry will follow the larger economy out of recession into a more robust business cycle. While horses provided one of those years that has been nothing short of memorable, these are far from the best of times in the racing game.
Originally Posted on ESPN
Posted on January 04, 2010
28 Jan 2010 at 11:12 pm | #
You should--with their permission--post the link to HANA’s track take out chart.
It would open many eyes--and close many of our wallets to the most egregious offending tracks.
29 Jan 2010 at 12:04 am | #
JohnGalt1:
Per Request...HANA ratings and take out chart.
http://www.horseplayersassociation.org/hanatrackratingsbytrackname.html
You are welcome.
Thanks Jeff Platt And John Pricci for shining more light...rwwupl
29 Jan 2010 at 04:41 am | #
The reality is it costs money to race, feed, groom and train horses. They are not slot machines. The bettor buying the product needs to pay for it. Racetracks are selling their signal for 2%-3%. That does not cover operating expenses. OTBs pay 11.5% for the signal. The Task Force on NYS OTBs made many good recommendations that bettors need to read at http://www.otbfuture.com .They need to look at the facts at the end of the report. Nationwide tracks should be charging more for their signals.Otherwise privatize OTB like CA, OR, Conn, Sweden. The tracks that are solvent are dependent on racinos because that is where the gambling dollar has gone. Even casinos have lost 20% in revenue because of the economy. Look at PA if you want a state legislature that cares about the racing industy. That’s where NY breeders are going. Mares bred were up 29% in PA and down 15%in NY in 2209 according to the Jockey Club. It will get worse if a VLT operator is not chosen ASAP. NYRA is surviving on a 30 million bridge loan. Forget about the Belmont Stakes if the state powerbrokers do not choose a VLT operator ASAP.
29 Jan 2010 at 07:37 am | #
@Carol,
Respectfully, consumers buy value.
Think Econ 101.
When you buy apples at the store do you really care how the farmer, the distributor, and the grocer slice up the pie?
No.
You buy apples because you want them and the price is something you are willing to pay.
If the price is higher than what you are willing to pay you walk out of the store.
Racing’s price is already too steep for too many players and they are walking out of the store.
29 Jan 2010 at 01:08 pm | #
The reality is it costs money to race, feed, groom and train horses.
**************************
But this has nothing to do with what is the optimum pricing for the gambling aspect of horse racing. For example, even slots have fixed cost. Electricity, 24/7 employees, etc. There is nothing stopping slots from having a 16% or 20% takeout on their machines, but through trial and error, the industry has found that it makes the most money long term with a takeout of around 8%. That means that more than twice the money is played at 8% than at 16%. Why? Gambling has lots of psychological aspects going for it. The longer a player lasts, the more likely they are to perceive the game as beatable, the more likely they are to come back, and the more likely they are to expose friends, families, and/or coworkers to the game.
I’m curious. I find it hard to believe that OTBs pay 11.5% for signals (even signals that are sold for 3%?). There has to be more to it than that.
The bettor buying the product needs to pay for it.
************************
No we don’t. And in many cases we won’t.
29 Jan 2010 at 02:16 pm | #
I do have a problem with NYRA running the OTB franchise. Why not allow all racetracks in the state form a consortium to run the OTBs? I don’t see why NYRA should get the additional revenue for running it. Why shouldn’t Finger Lakes and the harness tracks have an opportunity to profit?
I also think OTBs should be required to follow the NY First concept. They should be required to feature all NY tracks (runners and trotters). I am not saying don’t offer out of state tracks but being OTB is supposed to benefit NY, they should be required to show all NY signals, not freeze some of them out. That being said, I think dark day payments are wrong.
29 Jan 2010 at 02:57 pm | #
Al,
OTBs alredy put New York racing first per Racing and Wagering Board edict. On the Capital OTB television network, for instance, NYRA, Finger Lakes, Spa Harness and Yonkers Raceway must be shown live; out of state tracks are shown on a tape-delay basis.
So, then, if an interesting race from Gulfstream were coming up, and Spa Harness was holding a matinee program that day, the thoroughbred race must be put on hold. That might frustrate a wider TB audience, but NY first is as it should be.
Thanks all.
JRP
29 Jan 2010 at 05:09 pm | #
Guys;gals:
The racing product costs money; the track puts up purse money to attract horses; The horse goes where it can win and earn the most money; the bettor bets on the best product, with the least take-out. The solution is to make sure the tracks get enough bettors to bet enough money to supply the money for increased purses so the best product is put before the bettor, no? Why is the teller (OTB) so important in this mix that if it quits, the racing game goes broke?
A great product will increase the numbers of bettors who, combined with a lower take out will bet more money therby inceasing the money for purses, etc. Proven recently at those venues providing nite racing; proven in most major horse venues in the world (seen australian racing; superb). The problems of racing are solvable; we just need to get the politicos out of the way so the racing industry can make the improvements necessary for its growth, thereby poviding money for schools too.
Bud
29 Jan 2010 at 05:50 pm | #
ADWs can give track prices because they do not pay the unreasonable statutory fees (e.g. dark days, hold harmless), NYS OTBs do. The chart at the end of the Task Force report shows 2008 NYCOTB net handle for in state thoroughbred tracks as 290 million. NYCOTB paid 54 million to in state thor. tracks. NYCOTB handle for out of state thor. tracks was 519 million. NYCOTB paid out of state tracks was 13 million. This info is at http://www.otbfuture.com . Do you think any ADWs would want to take over NYCOTB and take on its 200 million in post- retirement obligations? NYS taxpayers will not and should not bail out NY thoroughbred racing. State lawmakers need to fix the business plan. PA can pay PA bred owneers and breeders double what NY does because they have casinos at Phila. Pk. Penn National and Presque Isle. Penn National has bid 300 million upfront to NYS, more than AEG or SL Green-Hard Rock. Despite the state budget deficit, Gov. Paterson, Assembly Sp. Silver, Sen. Conf. Chair Sampson, all Democrats, are not choosing an Aq. VLT operator. NYRA is not bluffing. Unless lawmakers act to improve the business plan, racing bettors will be betting only on out of state races or sitting in front of a casino machine pushing buttons. NYS will be paying unemployment benefits to workers laid off from hay and horse farms, vets, and racetracks. PA will be happy to run a renamed Belmont Stakes and fill is coffers with the resulting revenue.
29 Jan 2010 at 06:28 pm | #
Bud, well said as to the politicos! Below is part of something I posted on another one of JP’s columns.
“There will never be a perfect or even semi-palitable fix in NY as long as the racing entities are in any way politically tied together as is the NY way. Private enterprise is the most effective way to go. Fat chance of that happening in NY though.
Seriously, as long as politics rule, racing is doomed. And for what it’s worth, it’s not just NY. As screwed up as they are, that disfunctional family better known as New Jersey is right behind, if not actually ahead as to the ineptness shown in running tracks. Other states almost as bad.”
Please note, this is just my opinion, but having dealt with these kind of people over the years, it’s the only thing that makes sense. I say this provided the industry as a whole can come together as a united entity! That in my view means one set of rules and a common mind set that benefits the industry, not just the bottom line! Although it’s easy to jump on the anti-politician wagon (no state government
should ever own and run a race track) there are also plenty of culprits who helped create this entire mess. Short sightedeness combined with an unwillingness to change with the times or in many case not try to help themselves has brought this industry to the brink.
31 Jan 2010 at 04:37 am | #
JRP,
Awesome article, one of your very best. Keep up the great work!
31 Jan 2010 at 06:40 am | #
Just read an article at the link below. Will show you the pertinent paragraph and you can visit the site to read the rest.
http://www.bloodhorse.com/horse-racing/articles/55093/officials-reflect-on-illinois-racing-woes
Officials Reflect on Illinois Racing Woes
By Esther Marr
Updated: Saturday, January 30, 2010 10:36 AM
Posted: Friday, January 29, 2010 6:15 PM
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This year the IRB said it could not afford to pay workers for 130 days of racing and cut the dates to three days when the negotiations stalled. The dates were then restored when Brian Zander, president and general manager of Fairmount, petitioned the IRB with some conditions.
Zander said he would raise pari-mutuel taxes at the track to help cover some costs and also agreed employees would be paid for a maximum of 75 days over the 52-day race meet, which is the maximum days the IRB said it could afford.
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