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Thursday, January 7, 2010

Sound Advice

In our recent HANA survey we noticed that a good many of you (over 50%) do not get any cash rewards whatsoever. This is not a surprise, as on-track players, simulcast players and smaller players at various ADW's have a tough time getting their takeout reduced. However, one scribe seems to think (and we agree) that being a successful horseplayer means one must shop for the best deal:

If you are one of the many people trying to make money by handicapping horse races, you know just how hard it is to make a profit. One of the reasons is the nature of horseracing itself. It is just a very unpredictable sport because there are so many variables. As if that wasn’t enough there is also the greed factor.

I am not talking about the greed of the bettors, I am talking about the greed of the states and governing authorities who take so much out of the pools that there is hardly any chance at all to make a profit. Back in the golden days of horse racing, legal bookies used to have to compete for your betting action. They would shave their own percentage to the bone in order to get your action.

But now the states have sewn it up so there is no competition and they can feed off racing while also criticizing it at the same time. But, there is one thing that you can do to counteract their methods. You can shop around for the lowest takeout and play those tracks while avoiding the tracks with a higher take.


To read more it's here.

We have been trying to get through our ADW ratings with rewards components for you. However, time is not on our side this year with so many issues to work on, so we are lax on that. We would like to get this done, and add some of the excellent on track rewards programs, like Hawthorne's where you can earn up to a 4% reduction in takeout. If any players would like to share where they are getting good deals, please do in the comments section below. As well, if you are looking to improve your bottom line, the HANA track ratings here list all tracks and their takeouts.

4 comments:

Anonymous said...

I play at Premier Turf Club for player rewards. I will not play Magna or Tracknet tracks because I can't get a good price for those tracks.

I have dabbled in the Texas pick 3's. I am a decent pick 3 player at 20% takeout, so I think I can give profit a run at 12% at those tracks.

Keeneland is my favorite low takeout track - and you can get small player rewards too. They have good prices and good exotics prices if you spread there.

I would switch to poker if I could not get Keeneland type takeouts with a good rebate. I do not know why horseplayers waste money at high takeout tracks. They must have a whole lot more money than I do, or be very good handicappers.

Phil

pjleft said...

Years ago I remember reading about a track that every year would notify bettors that used their rewards card that they had uncashed tickets and then they would reprint and cash the ticket!

One of the few things Philly park does well is track down lost tickets. If you lose a ticket and the teller remembvers you ameing the bet, they will put a hold on cashing the ticket. If you leave a voucher in a machine they will also put a hold on that ticket. Thye look at tapes and usually find the culprit who stole your ticket.

pjleft said...

“We don’t think it’s appropriate to sell to Mid-Atlantic today at the same rate that was received five years ago,” Daruty said. “What product do you buy in your daily life that you’re paying the same today that you did five years ago?”

Well, computers, TV's and other technologies cost a lot less. How about fast food "value menus"
I guess that means when Tracknet corners the market that TAKEOUT will go up!

Anonymous said...

PJ,

Nice quote you pulled. Honestly I think it shows how they think at Tracknet. Calder said the same thing a couple of years ago - prices have gone up, so we are increasing takeout! How is handle at Calder? Are they making more money?

Increasing takeout increases margins, but decreases volume. Tracknet seems to be fine with less handle.

PB