If harness racing and parimutel is dying off then.....

[Zippychippy423]

Why is more money being bet year over year ? Even the purse sizes have increased. It seems like perception is not reality in this case.

[Zippychippy423]

My statement is all based on facts. Fact : In general people think harness racing is a dying sport. Fact: More money has been wagered this year compared to last year at this time. Fact : Purses are also up compared to last year at this time. I imagine if someone could research it t-breds probably have the same type of facts. My question is if racing is in such turmoil how come we aren’t seeing this reflected in the overall totals?

[slimshady]

Belmont   ....   I don't see anywhere that Zippy said the industry was healthy.   He is saying, with betting going up, it's a poor indication it is "dying". 
Terrible year last year or not, an uptick has as much chance of leading to an upward trend as it does downward.
Time will tell.

[slimshady]

Stand Forever  ....  DDUUUHHHH    If there's enough betting, there's a need for the product.   

[TTitans1]

The product would have been gone long ago without the slots and all the increase in purse money did was make the sport a chemistry class where assholes who can`t even spell horse are making millions using class 1 narcotics, steroids, blood builders, etc. It`s a fucking joke!

[Watchandtell]

Sadly, this is correct.

Eg Pocono yesterday $135K in purses. About $220K in handle. 20% cut = $42K in track earnings. Deficit of $100K without slot support (before considering ANY overhead.. thats just to pay purses). $100K deficit on one track on one day before paying overhead.... Breakeven at these purse levels is probably $1M a day (500% increase)

Yes those are facts...but just because something improves off an already very very low number doesnt mean the sport is healthy.

[Zippychippy423]

The slot support is the new norm so unless law makers decouple the racing element it will stick around for years to come. It would not shock me to see tracks push for a higher take out percentage or switch to a fixed odds format. In any event there are still a boat load of people who bet on horse racing. Two parimutuel sports that use to bring in millions were Jai Alai and dog racing which within the next few years will be totally defunct. They have specific reasons for their demise and it’s not less people interested in betting. The sport of kings has been around for a very long time and it’s not going anywhere. If there becomes less tracks and less races so be it...hell I did better at the 1980’s OTB when it was just one track during the day and at night.

[The Exporter]

Yes those are facts...but just because something improves off an already very very low number doesnt mean the sport is healthy.

Any upward trend is welcome news. But as this poster points out, a small increase of a 20 year decline is anecdotal. If we get a couple years in addition to recent up tick, that would be impressive. It is like having a 3 yr, old pacer who just paced in 2:09, beating last win in 2:10.

[bestbetter]

I think when sports betting is implemented in all States its going to hurt the racing industry...

[The Exporter]

 

[slimshady]

Harness racing is the Mark Twain of sports.

“The reports of my death are greatly exaggerated.”

[PIGLAND]

handle doesn't pay for 1 race per night at jonkers and most other tracks

[Yonkers1]

Sadly, this is correct.

Eg Pocono yesterday $135K in purses. About $220K in handle. 20% cut = $42K in track earnings. Deficit of $100K without slot support (before considering ANY overhead.. thats just to pay purses). $100K deficit on one track on one day before paying overhead.... Breakeven at these purse levels is probably $1M a day (500% increase)

I think it’s worse than that. The great majority of the $220K handle was off track where the hold percentage for the host is anywhere from 3-6%

[Watchandtell]

Agreed.

$1M handle at a blended rate of 13% or so... 500% increase to maaaaaaaayybe have a shot of being able to see the breakeven point.

Yes it's fugly

I think it’s worse than that. The great majority of the $220K handle was off track where the hold percentage for the host is anywhere from 3-6%

[PIGLAND]

Agreed.

$1M handle at a blended rate of 13% or so... 500% increase to maaaaaaaayybe have a shot of being able to see the breakeven point.

Yes it's fugly

try an average of 4%