Tuesday, March 24, 2015

Maryland Betting Menu Changes Are Coming

Tim Ritvo, from an article today in Thoroughbred Commentary:
  •  “[Lowing the takeout] requires racing commission approval,” Ritvo commented. “The horsemen are involved, too, so everyone has to go as an unified force. Basically, we all will take a small revenue hit, but we’re hoping we increase handle and churn so we can grow our business. We’re pretty sure the horseplayer will be satisfied with this move in the right direction.”
  •  Creating a cohesive racing circuit will not take place overnight but in the meantime horseplayers will have something to look forward to when the Pimlico meet opens April 2. It was recently announced that Pimlico will offer a pick five with an industry low 12-percent takeout*.
  •  “We’re hopeful that horsemen’s groups around the country understand that the days of five or six-horse fields aren’t attractive to the public and that bigger fields creates a larger handle and a bigger pool of money,

If this succeeds (and we have not seen the proposed betting menu for Laurel yet, which we all agree needs serious work), this is clearly a step in the right direction for the betting public. Since the betting public pays, for the most part, purses, it's hopeful for the industry and horsemen, as well.

 * - Northlands Park has a 10% pick 5 takeout. It opens again in May.

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