In their never ending effort to help murder horse racing, the knuckleheads at Woodbine Entertainment got the gambling illiterate Ontario Racing Commission to go along with the idea of allowing triactor and superfecta betting on very short fields:
For triactor wagering, the required number of separate betting interests has been reduced from six to five. For superfecta wagering, the required number of separate betting interests has been reduced from eight to seven for all races other than stakes races. No change was made to the number required for stakes races, as the required number remains seven.
To be fair, Woodbine and the ORC are not the only morons involved in racing. The California racing board just agreed to the same idea:
The Board authorized for public notice two proposed regulatory amendments to reduce the number of wagering interests that must be scheduled to start at the time the wagering pools open in California for trifecta and superfecta wagering. Rule 1979 (Trifecta) currently requires six wagering interests. The proposal is to reduce that required number to four. Rule 1979.1 (superfecta) currently requires eight wagering interests. The proposal would reduce that number to six. Racing associations and fairs would have the right to not offer these bets.
I know that some readers will say that they like more choice and think this a good initiative. But the reality is that superfectas and triactors have the highest takeouts going. They are bankroll killers to those not cognizant of takeout (which is most people, who, for example, have no clue that Woodbine charges 28.3% takeout on triactors.
I don't blame the average gambler for betting on triactors in 6 horse races. It makes sense that when you gamble you might be inclined to hit what might be the biggest payout available for a certain race. But this new rule, takes advantage of the players in a very big way.
It wasn't too long ago that during the first Breeder's Cup, those in charge decided to put a $5 minimum on exactor bets. Why? Because they were worried about killing their customers bankrolls too quickly. Small players would be forced to stay away from the exotics, and wind up cashing more by being forced to bet only win, place, or show.
Nowadays, organizations like Woodbine are interested in one thing: Getting as much money from the player every single day, without caring if the player comes back because of their gambling experience.
This new rule is guaranteed to tap out players more quickly. The monkeys who run the WEG zoo just don't get it. A regime change is desperately needed. I honestly don't know what is holding them back from charging 28.3% on all bets.
I think they don't even get why slots are so successful. It is the lower takeout. Slot players don't know or care about house edge, but slot operators know that if they raise the edge to more than 11%, people lose too quickly and are prone not to come back so readily. If only horse racing execs would understand the same.
Peter Gross has launched a Facebook page to help promote his Down The Stretch Newspaper
The Thoroughbred Bloggers Alliance also has a Facebook page.
And so does HANA (Horseplayers Association of North America)