Thursday, July 24, 2008

40% Takeouts. Live and Learn.

Bill Finley had an interesting article on Italian racing that we missed earlier.

The Italians like to gamble. With recent changes liberalizing Italian gaming regulation, it is estimated that about $91 billion will be wagered in the country annually by the year 2010. The problem is, too many Italian gamblers are choosing to bet on something other than horse racing.

New fans aren't coming to the sport and old ones are being driven out. The takeout in Italy is exorbitant, as much as 40 percent on the trio, which is the Italian version of our trifecta. According to Barsotti, it wasn't always this way, but Italian racing regulators have decided to allow major increases in the takeout rate over the years.

Too many gamblers are going broke, which has created smaller betting pools. With smaller betting pools, it's hard to make a large bet. Anyone wanting to make a big wager on a horse will drive the horse's price down to unacceptable levels. That has caused big bettors to flee the game, which makes the pools smaller yet. It's an unending cycle.

Raising takeout is almost an unstoppable handle killer and it does not seem to matter in what language we speak. Every horseplayer understands "When I bet racing I go broke", regardless of their native tongue.


Anonymous said...

Love this idea of Horse players joining ranks. I'd even donate money for ad space.

Can we get takeout rates on every major track in North America and have it posted.

Twindouble said...

Unbelievable! A forty percent takeout would be the death of racing here as well. How could they be so stupid.

The fact we are looking for a reduction in takeout via rebates is a lot different. We all know the tracks have to make money for us to continue as players. Their mistake was giving away their signals for peanuts. That's clear in everyone's minds, esp the horsemen. Plus the fact the ADW"S can play loose with that money with the whales again proves the tracks screwed up. There's a lot more overhead running a track than an ADW operation. I'm sure every player including the staff here is aware of that.

I don't think as a player I have the right to dictate what a track can or can not make, I just want them to succeed by offering a reasonable takeout and create that level playing field in pari- mutual wagering, that always existed. Along with my wish list as a handicapper. That's being transparent with the information I think is pertinent to be a success player and that includes keeping the game "honest". Most of what I want is in HANA's mission statement. I can post my own list if you like. My perception of what's needed could very well differ to some degree from other players.

I'm here to support whatever HANA comes up with and just give you my opinion being an active horse player for over 48 years now. When it comes down to donations you can count on me.

I think the staff assembled here is very qualified to sort out what actions can be taken on whatever they think can be achieved. Anyone who wants to get my opinion on any subject just drop me an e-mail and I'll respond the best I can. Most of my spare time I have is spent in the racing form but I'll cut out some for a good cause.


HANA said...

I don't speak for everyone at HANA, but this time I think they won't mind one bit - thanks to both of you!

It has been amazing who has signed up and offered similar. We are really rolling and we have not had a ton of time to do everything we can (eg emailing everyone thanks and emailing a "to do list" to tell everyone what is happening next) but we'll try to get that done soon.

And anon, we do have a full track list with takeouts, as well as a track ratings list based on customer features. We will be featuring some player friendly tracks as well with stories and opinion. We hope to get that up ASAP.

Thanks again fellas.

Anonymous said...

Twindoubles, the same affect is occurring here because of dinosaur takeout rates which worked back when horse racing had little to no competition and the races that one could bet on were limited to one card of 8 races and 2 exactors a day. People left with money, and the mooch money was in the pools for sharp gamblers to go after.
Things have changed, but takeouts have not just remained the same, they've gone up.

What is happening in Italy is just more extreme than North America.
But it also shows that horseplayers don't need to know the takeout to know they go broke quickly and are turned off, and end up going elsewhere.

For horse racing to grow, for tracks to make more money, more players need to play and old players need to allocate more of their gambling money towards horse racing, not less.