Thursday, December 15, 2011

Press, Bettors, Customers Turn Up the Heat on NYRA

After well over a decade of empirical data regarding slots and handles (slot money up, while handles drop), people are speaking out. The racino at Aqueduct has been churning out some huge revenues, most of which will go into purses, just like it has in numerous jurisdictions around North America. Meanwhile, customers have never shared in the windfall and they continue to leave in droves.

Some industry watchers, bettors and fans have had enough, and they're letting everyone know they have.

Via a blog: "There's Never Been a Better Time for NYRA to Slash Takeouts"

"Today it was announced that the Aqueduct casino is the most successful in all of New York State.  There are no excuses left. New York must begin to show some vision and lower takeout, distribute their signal and use slot cash for the demand side of the equation; and not just for the supply side. If they do, we might actually be able to grow handle in 2012, instead of watching it circle the drain for another year."

Rich Eng in the Las Vegas Review Journal: 

"Hayward now has a chance to be a game-changer for horseplayers, too. In past years, we have seen one racetrack after another take revenue from slot machines and raise their purses. That's fine. But I have not seen any of these tracks lower their takeout, in essence growing their business with bettors and creating new ones."

Turf n' Sport's Michael Dempsey:

"NYRA Needs to Give Back: With the Aqueduct casino in full operation, purses in the Big Apple are going to increase by $100,000 on Jan. 1, and by the time we get to Saratoga, they may be offering close to $1 million per day in purses. Meanwhile horseplayers are still paying a 26% tax to bet into exotics? The New York Racing Association could start a good trend by lowering takeout and building handle. Officials of the NYRA are quick to point out the purse increase and the expected increase in field size, but not a bone to its customers. It’s sickening.  "

Nanoburgh Tech Blog:

"The (Real & Viable) Solution:

1. Stop taking slot revenues for the sole purpose of feeding purses


2. Keep the the slot money in the hands of those doing the gambling and let them wager it on the horses "

This has been building for some time. Places that have had slots have done the same thing with the money, with rarely a thought to help our betting game be more attractive enabling it to grow. If the above is any indication, it seems that some in our sport are growing tired of it.


Anonymous said...

It's been a few hours and we've seen no comments from NYRA apologists/cheerleaders. Are they all broke from betting into 26% exotic takeout?

Anonymous said...

Yes,where are the defenders?

Anonymous said...

Its not just the takeout,but the host fees are too high.Bring them down and let the money flow in from the ADWs

Upsndowns said...

Lower takeout=greater handle

Anonymous said...

Lower takeout=greater handle