Wednesday, November 10, 2010
Delaware Park Handle Up; Looks to Extend Exacta Bonus
A bit of good news, in a betting industry fairly deviod of it this year - Delaware Park had a bump in handle this past meet. According to WDEL-AM, the 10% exacta bonus might be continuing.
The Stanton track also says they are considering extending the "on-track exacta bonus" where bettors on-site had less money taken out by the track, increasing their winnings by over 10% compared to simulcast wagerers.
In addition, this might not be the end of the takeout reductions at the track. According to the DRF "Mike Vild, Delaware’s senior vice president. “We intend to evaluate the program during the off-season with the goal of expanding the promotion to other ontrack wagering pools next year.”"
In terms of pure churn (we all know now that churn is the real metric of takeout reductions, not gimmicks) handle would have been up about $6000-$12,000 a day because of this reduction. Small potatoes perhaps, but in a business who has lost almost half its handle in ten years, it is certainly something to be happy about.
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I am happy that Delaware Park gave their experiment ample time to make an impact.
For 2011, it is in their best interest to offer the majority of the customers who play off-track the same benefits of reduced exacta takeouts.
Only then will they realize the major growth that DelPark is capable of.
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