In case you haven't seen this yet, a video of a duck and her ducklings at Woodbine during a high wind. Over 4 million hits. When was the last time a horse racing website got 4 million hits? Well here it is:
Funny, yes, but I see something more in this video. Something symbolic. The mother duck took newbies to the track, and they got blown out by Woodbine's high takeouts. They were unable to last very long, and they are likely not to return to Woodbine again. There is a computer term called Baby Duck Syndrome. It has to do with imprinting. Baby ducks bond with the first moving thing they see. It doesn't have to be a parent. In computer land it has to do with newbies having a tendency to stick with the keyboard, software programs, etc. that they were first exposed to.
Now in psychology, it has to do with keeping up with the status quo, and not trying different things. Hmmmm, sounds like what has plagued horse racing for years and years, especially when it comes to pricing the product and appeasing Horsepeople instead of Horseplayers.
Now back to the ducks on the video. Reports are that they haven't given up altogether (they liked betting). They are heading to Tampa Bay Downs. Tampa Bay, which opens up their 2010-2011 season tomorrow, has reduced takeout once again. They have dropped takeout on Pick 3's, 4's, the Pick 6, and their High Five to 18%.
The ducks are also going to take a gander at Hialeah, which has a 12% track takeout on all bets. They don't really understand quarter horse racing, but they are willing bet a few bills at a lower takeout venue after their not so pleasant experience at Woodbine.
The ducks have been educating themselves on the internet since their first exposure to horse racing, and they've decided to boycott California racing due to the upcoming takeout hike which comes into effect on December 26th. I wonder if it was the ducks who started this rumor that has shown up on Youtube:
H/T Andy Mays at Pace Advantage
I can't finish this post without applauding Woodbine (sort of) for bucking the industry trend and increasing handle. The fact handle dropped a little domestically was very predictable, because of their high takeouts and their continued practice of underpaying Horseplayers on many exotic wagers (they chase domestic Horseplayers away and have an impossible time creating new ones, as new Horseplayers will only get involved significantly if there are visible long term winners).
Pull The Pocket points out what Woodbine did right. It started out with David Willmot getting out of the way.
By the way, Willmot had a successful year this year as a quasi-lawyer. His presence and testimony was tantamount in winning the Fifty Proof case this year ("the gate was in working order, eh"). Of course, in order for him to have a future in law, he'll need to seek out more Kangaroo Courts.
On a sad note, Fort Erie trainer Billy Lane passed away after a long courageous fight with cancer. My condolences go out to his family and friends. He was a great guy.
Showing posts with label Tampa Bay Downs. Show all posts
Showing posts with label Tampa Bay Downs. Show all posts
10 December 2010
1 April 2010
Woodbine To Reduce Takeout With Future Growth In Mind
Tomorrow, Woodbine will open the doors for their 2010 thoroughbred season, and they've decided to dedicate this year to the horseplayer by dropping track takeouts to industry low levels.
WPS bets will now be offered at 15%. All exotics will be have a takeout of 18%, with the exception of triactors which will have a takeout of 19.5%. The takeouts used to be 16.95% for WPS, 20.5% for exactors and doubles, 25% for Pick 4's and Pick 6's, 26.3% for superfectas and Pick 3's, and 27% for triactors.
The hardest part of making this change was convincing the Ontario HBPA that their contract needed to be changed because their percentages had to be prorated for this to work. It took a lot of meetings, but the astute Woodbine executives team was able to finally convince the horsemen that when takeout drops, players will churn back the extra money they won, so the bottom line will be at least the same. Of course, when horseplayers last longer, and spend more time handicapping, betting and watching races, they may forgo other forms of gambling, and more importantly, start introducing their family and friends to the great game of horse racing, and this potential for strong growth has apparently excited both horsemen and WEG executives alike.
Because track takeouts were being cut to close to three quarters of what they used to be, instead of receiving an extra 2% on all wagers, the horsepeople have agreed to receive an extra 1.5% on each dollar bet instead, and an additional 1.5% on triactors.
In order to get the horsemen to go along with this monumental effort, Woodbine promised to keep purse levels at least the same this year, and next year. An executive stated off the record that "Woodbine was planning to announce a 15% purse cut on the thoroughbred side, just like they did on the standardbred side, by August 1st, if this agreement failed."
The same executive, who stressed she wanted to stay anonymous, said that "Things are so much brighter now that Davey is giving up control. It is like Woodbine finally got rid of the monkey on its back." She then joked, "He'll still be around for a few months doing the only thing he is any good at, collecting his big fat pay check."
The government agencies too had to go along with this plan. It took about twelve meetings but they finally understood the math behind the cuts and what churn means, so it was agreed that the Ontario Government will now receive .385% instead of .5% on each dollar wagered, while the Canadian Government will now retain .615% instead of .8% on each dollar wagered for the provision of drug control, photo-finish, video patrol and audit services.
But that isn't all. Newly appointed WEG Token Racial Minority V.P. Ravi Singh Singhasong stated that "instead of using the term "Take Out Adjustments," which is too lengthy a term anyway, money put into HPI accounts based on how much a horseplayer bets, will now be referred to as "Rebates." We will now be giving out Rebates to all HPI members on every bet they make with no weekly minimum. All bets made through HPI will now receive at least 2% paid out weekly. Those who bet over $5,000 a week will receive rebates of 4% on all wagers, and those who wager $10,000 a week or more will receive 6%. The exception is that there are certain tracks that we can only pay rebates of 2% on because of contractual restrictions, so we be informing our bigger betting customers that it might be in their best interest to avoid playing those tracks."
"We also convinced the horsemen to pay for half the rebate and they seemed to understood that the rebate money would be bet back in almost every case, so in the end they would wind up with at least close to the same, but probably a whole lot more," said Singhasong.
Ravi continued, "We will also now pay our customers whatever the US tracks pay on all bets, and therefore cease taking a cut out of the horseplayers winnings if they hit a triactor on a California race, for example. It is just bad Karma to rip off the horseplayer, really bad Karma. No more bad Karma."
"One more surprise," Singh Singhasong went on, "we are giving our customers their breakage. It is 2010, we had computers that could figure out exact payoffs to the penny years ago. We don't use chalk boards for the odds anymore, and haven't for some time. There is no reason not to give our customer all their money, not just most of it, they earned it. So that is what we are going to do."
Asked what triggered this seemingly new philosophy, Singhasong said, "Besides having a new visionary guiding us, we looked at our business model, and the lack of growth that has resulted. The fact that we have been losing horseplayers and potential horseplayers to Betfair, online poker, sports betting, and offshore ADWs. We finally decided enough is enough, lets bloody well compete for their business.....we know that at Woodbine, we have a very good racing product, but a terrible betting product, the track takeouts rates we had before today were the laughing stock amongst all knowledgeable gamblers."
"What pushed us overboard, though, was seeing the continued growth and success of Tampa Bay Downs with their gradual takeout reductions, and compared it with the awful, rancid, dreadful decline at Calder Race Course. Then we looked at our numbers, and we have the same handle that Calder has today, almost half of what Tampa Bay does daily. Look at our purse structure compared to Tampa, if not for slots, we'd be running for peanuts. We realized our model is broken, so now we will fix it."
Ravi and the rest of the WEG decision makers must have figured out that during their 2002-2003 meet, Tampa Bay did $2,550,096 per day in handle, and after a couple of takeout reductions, now appears to be averaging over $4,000,000 a day this meet, while Calder did $397,369 in handle per race back in 2003, and only did $235,000 per race in handle in 2009. Calder foolishly increased takeout early in 2008.
Instead of a gradual decrease in takeout like Tampa Bay has done, Woodbine has decided to grab the bull by the horns.
"Gradual Shmadual," said Singh Singhasong, "2010 is THE YEAR OF THE HORSEPLAYER AT WOODBINE, oh and one more thing, APRIL FOOLS' DAY."
WPS bets will now be offered at 15%. All exotics will be have a takeout of 18%, with the exception of triactors which will have a takeout of 19.5%. The takeouts used to be 16.95% for WPS, 20.5% for exactors and doubles, 25% for Pick 4's and Pick 6's, 26.3% for superfectas and Pick 3's, and 27% for triactors.
The hardest part of making this change was convincing the Ontario HBPA that their contract needed to be changed because their percentages had to be prorated for this to work. It took a lot of meetings, but the astute Woodbine executives team was able to finally convince the horsemen that when takeout drops, players will churn back the extra money they won, so the bottom line will be at least the same. Of course, when horseplayers last longer, and spend more time handicapping, betting and watching races, they may forgo other forms of gambling, and more importantly, start introducing their family and friends to the great game of horse racing, and this potential for strong growth has apparently excited both horsemen and WEG executives alike.
Because track takeouts were being cut to close to three quarters of what they used to be, instead of receiving an extra 2% on all wagers, the horsepeople have agreed to receive an extra 1.5% on each dollar bet instead, and an additional 1.5% on triactors.
In order to get the horsemen to go along with this monumental effort, Woodbine promised to keep purse levels at least the same this year, and next year. An executive stated off the record that "Woodbine was planning to announce a 15% purse cut on the thoroughbred side, just like they did on the standardbred side, by August 1st, if this agreement failed."
The same executive, who stressed she wanted to stay anonymous, said that "Things are so much brighter now that Davey is giving up control. It is like Woodbine finally got rid of the monkey on its back." She then joked, "He'll still be around for a few months doing the only thing he is any good at, collecting his big fat pay check."
The government agencies too had to go along with this plan. It took about twelve meetings but they finally understood the math behind the cuts and what churn means, so it was agreed that the Ontario Government will now receive .385% instead of .5% on each dollar wagered, while the Canadian Government will now retain .615% instead of .8% on each dollar wagered for the provision of drug control, photo-finish, video patrol and audit services.
But that isn't all. Newly appointed WEG Token Racial Minority V.P. Ravi Singh Singhasong stated that "instead of using the term "Take Out Adjustments," which is too lengthy a term anyway, money put into HPI accounts based on how much a horseplayer bets, will now be referred to as "Rebates." We will now be giving out Rebates to all HPI members on every bet they make with no weekly minimum. All bets made through HPI will now receive at least 2% paid out weekly. Those who bet over $5,000 a week will receive rebates of 4% on all wagers, and those who wager $10,000 a week or more will receive 6%. The exception is that there are certain tracks that we can only pay rebates of 2% on because of contractual restrictions, so we be informing our bigger betting customers that it might be in their best interest to avoid playing those tracks."
"We also convinced the horsemen to pay for half the rebate and they seemed to understood that the rebate money would be bet back in almost every case, so in the end they would wind up with at least close to the same, but probably a whole lot more," said Singhasong.
Ravi continued, "We will also now pay our customers whatever the US tracks pay on all bets, and therefore cease taking a cut out of the horseplayers winnings if they hit a triactor on a California race, for example. It is just bad Karma to rip off the horseplayer, really bad Karma. No more bad Karma."
"One more surprise," Singh Singhasong went on, "we are giving our customers their breakage. It is 2010, we had computers that could figure out exact payoffs to the penny years ago. We don't use chalk boards for the odds anymore, and haven't for some time. There is no reason not to give our customer all their money, not just most of it, they earned it. So that is what we are going to do."
Asked what triggered this seemingly new philosophy, Singhasong said, "Besides having a new visionary guiding us, we looked at our business model, and the lack of growth that has resulted. The fact that we have been losing horseplayers and potential horseplayers to Betfair, online poker, sports betting, and offshore ADWs. We finally decided enough is enough, lets bloody well compete for their business.....we know that at Woodbine, we have a very good racing product, but a terrible betting product, the track takeouts rates we had before today were the laughing stock amongst all knowledgeable gamblers."
"What pushed us overboard, though, was seeing the continued growth and success of Tampa Bay Downs with their gradual takeout reductions, and compared it with the awful, rancid, dreadful decline at Calder Race Course. Then we looked at our numbers, and we have the same handle that Calder has today, almost half of what Tampa Bay does daily. Look at our purse structure compared to Tampa, if not for slots, we'd be running for peanuts. We realized our model is broken, so now we will fix it."
Ravi and the rest of the WEG decision makers must have figured out that during their 2002-2003 meet, Tampa Bay did $2,550,096 per day in handle, and after a couple of takeout reductions, now appears to be averaging over $4,000,000 a day this meet, while Calder did $397,369 in handle per race back in 2003, and only did $235,000 per race in handle in 2009. Calder foolishly increased takeout early in 2008.
Instead of a gradual decrease in takeout like Tampa Bay has done, Woodbine has decided to grab the bull by the horns.
"Gradual Shmadual," said Singh Singhasong, "2010 is THE YEAR OF THE HORSEPLAYER AT WOODBINE, oh and one more thing, APRIL FOOLS' DAY."
23 November 2009
Tampa Bay Downs Drops Takeout On Some Bets
Tampa Bay deserves some applause. They have announced on their website that they have lowered takeouts on a few of their bets by 1%.
Take-Out Percentages
Win, Place, Show 17.5%
Daily Double 18%
Pick-3, Pick-4, Super High-5, Pick-6 19% Reduced from 20% last year!
Exactor 20.5 % Reduced from 21.5% last year!
Trifecta, Superfecta 25.9%
************************************
Compared to Woodbine
Win, Place, Show 16.95%
Daily Double 20.5%
Pick-3, 26.3%
Pick-4 25%
Pick-6 25%
Exactor 20.5%
Trifecta 27%
Superfecta 26.3%
And Canadian bettors need to realize that if they cash a Pick 3 or Pick 4 at Tampa Bay through an HPI outlet or at Woodbine or tracks that use HPI, you will receive at least 6% less than what the actual Tampa Bay payoff is.
Mary Forney recently did an interview with HANA (Horseplayers Association Of North America) board member and treasurer Theresia Muller during Breeders Cup Week. Here it is:
Theresia is a very devoted HANA member. I don't think she has missed a Wednesday night HANA board member conference call since HANA sprung onto the scene a little over a year ago. I've missed the odd conference call for the record.
Since HANA's inception, there have been no known takeout increases by any track in North America. We've seen a few minor decreases, and at least that is a step in the right direction.
To join HANA, click here, it is free with no obligations. The more bettors that sign up, the more clout HANA will have going forward.
Fort Erie Race Track is not the only track where efforts against closing are happening. Check out the Blue Ribbons Downs mess.
HBPA update on Fort Erie
Still no word one way or the other. This is starting to remind me of the movie Groundhog Day.
Meanwhile, the proposed car racing track is being fought by a group of Fort Erie residents who believe that noise pollution, wetland issues, traffic congestion, and lower property values will arise if the track is developed. My wife signed the petition to prevent the development, I did not.
Bringing in thousands of people to spend money in Fort Erie, creating jobs and hopefully some spill off of auto fans taking in a day at Fort Erie race track (assuming it doesn't close) outweighs the negatives. I also think it will increase property values because there will be full time workers that will drive up real estate prices. The noise won't be constant. Just a few bad days a year. Pollution? Already there. Trucks idling at the Peace Bridge will do that. And wetlands? Lots of wetlands in Canada. We are still a sparsely populated nation.
How many times does a small town get an opportunity like this?, if the opportunity is actually a real one (which I have my doubts about).
That being said, I have no interest in ever going to the car track. It just doesn't appeal to me at all.
Woodbine has introduced a channel on Youtube, WEG Replays
Good quality replays of all WEG races can be found there.
Australian Racing Steward coming to Toronto to review EPO testing procedures here
Julia Brimo getting support from fellow jockeys
"On November 28, jockeys across North America will unite to support Canadian rider Julia Brimo, who suffered head and back injuries in a spill at Keeneland Race Course on October 30.....On November 28, jockeys across the continent will wear the name “Julia” on their boots to show solidarity. Some will also donate one riding fee to a fund in her honour."
To donate to the Julia Brimo Fund send a check made out to Cindy Werner at 1116 Flat Rock Road, Louisville, KY, 40245.
Take-Out Percentages
Win, Place, Show 17.5%
Daily Double 18%
Pick-3, Pick-4, Super High-5, Pick-6 19% Reduced from 20% last year!
Exactor 20.5 % Reduced from 21.5% last year!
Trifecta, Superfecta 25.9%
************************************
Compared to Woodbine
Win, Place, Show 16.95%
Daily Double 20.5%
Pick-3, 26.3%
Pick-4 25%
Pick-6 25%
Exactor 20.5%
Trifecta 27%
Superfecta 26.3%
And Canadian bettors need to realize that if they cash a Pick 3 or Pick 4 at Tampa Bay through an HPI outlet or at Woodbine or tracks that use HPI, you will receive at least 6% less than what the actual Tampa Bay payoff is.
Mary Forney recently did an interview with HANA (Horseplayers Association Of North America) board member and treasurer Theresia Muller during Breeders Cup Week. Here it is:
Theresia is a very devoted HANA member. I don't think she has missed a Wednesday night HANA board member conference call since HANA sprung onto the scene a little over a year ago. I've missed the odd conference call for the record.
Since HANA's inception, there have been no known takeout increases by any track in North America. We've seen a few minor decreases, and at least that is a step in the right direction.
To join HANA, click here, it is free with no obligations. The more bettors that sign up, the more clout HANA will have going forward.
Fort Erie Race Track is not the only track where efforts against closing are happening. Check out the Blue Ribbons Downs mess.
HBPA update on Fort Erie
Still no word one way or the other. This is starting to remind me of the movie Groundhog Day.
Meanwhile, the proposed car racing track is being fought by a group of Fort Erie residents who believe that noise pollution, wetland issues, traffic congestion, and lower property values will arise if the track is developed. My wife signed the petition to prevent the development, I did not.
Bringing in thousands of people to spend money in Fort Erie, creating jobs and hopefully some spill off of auto fans taking in a day at Fort Erie race track (assuming it doesn't close) outweighs the negatives. I also think it will increase property values because there will be full time workers that will drive up real estate prices. The noise won't be constant. Just a few bad days a year. Pollution? Already there. Trucks idling at the Peace Bridge will do that. And wetlands? Lots of wetlands in Canada. We are still a sparsely populated nation.
How many times does a small town get an opportunity like this?, if the opportunity is actually a real one (which I have my doubts about).
That being said, I have no interest in ever going to the car track. It just doesn't appeal to me at all.
Woodbine has introduced a channel on Youtube, WEG Replays
Good quality replays of all WEG races can be found there.
Australian Racing Steward coming to Toronto to review EPO testing procedures here
Julia Brimo getting support from fellow jockeys
"On November 28, jockeys across North America will unite to support Canadian rider Julia Brimo, who suffered head and back injuries in a spill at Keeneland Race Course on October 30.....On November 28, jockeys across the continent will wear the name “Julia” on their boots to show solidarity. Some will also donate one riding fee to a fund in her honour."
To donate to the Julia Brimo Fund send a check made out to Cindy Werner at 1116 Flat Rock Road, Louisville, KY, 40245.
6 April 2009
HANA's Next Target Pool: Tampa Bay's Pick 3 Race 6-8; HPI Bettors Beware
Last week HANA (Horseplayers Association of North America) targeted a race at Will Rogers Downs. The idea of doing this weekly bet is to show the industry that bettors can unite, and the bettor's voice should be heard.
The results were OK. We added over $20,000 to the race 8 pools (an overall increase of over 90%), considering that it was our first week, and many members were shut out from betting Will Rogers (ie many Canadians, NJBets, NYRA bettors, Las Vegas, etc.).
TUESDAY'S PICK 3, RACE 6 TO 8 AT TAMPA BAY: SHOW YOUR SUPPORT AND BET IT
So this week we decided in our weekly Wednesday night pow wow to target a track that is available everywhere. Tampa Bay was a perfect selection. The fact that the track was rated 11th by HANA is just icing on the cake.
Tampa Bay regularly does over $3 million a day in handle, so picking a race and asking our members to just play the race, may not show how much power we have. We decided to go with a Pick 3 pool instead (they generally average around $12,000 in that pool).
I'm going to estimate that the pool for the selected pick 3 (starting at race 6 and ending at race 8) will be at least $35,000 once we pounce on it. Hopefully, it will be more. But a $35,000 pool is definitely worth taking a shot at.
Free Past Performances for the 6th to 8th races from TrackMaster (thanks again Craig) are available here.
NOW FOR THE OUTRAGE
Again, we purposely picked a track that was available everywhere. We did overlook one thing though, and this is more of a warning than an attempt to not get HPI members to play. HANA is all about awareness, so it is my duty as a Canadian HANA member to warn Canadian HPI customers about the following:
HPI payoffs on the pick 3 at Tampa Bay are only 93.75% of what they pay on track (and almost every USA ADW and simulcast location). That is right folks, the "brain trust" at HPI (ie Woodbine Entertainment Group) have determined that the takeout on Tampa Bay pick 3's are too low (at 20%), so they ramp up the takeout on it for their "loyal" customers. For example, yesterday one pick 3 at Tampa Bay paid $440.80 at source, but HPI only paid their lucky customers $413.30 on it. Another one paid $1831.80 on source, but HPI paid $1717.30 for the same hit (Dave Willmot thanks whoever caught it, for his new tie).
Is it any wonder that HPI chases away customers? And then they have the audacity to whine about it.
Here is thejustification explanation from the Woodbine web site:
Why might payoffs on some pools differ from that of the host?
Since some U.S. tracks have extraordinarily low takeout rates on some pools (e.g. Triactors, Superfectas) that do not accommodate the high mandatory deductions in Canada, WEG will use a minimum of 25% for the total takeout on these pools. This is a very common rate that is used by other U.S. tracks.
It costs HPI the same amount to take a pick 3 bet as it does to take a win bet. Yet they can "afford" to pay customers actual prices for win, place, and show, etc. So how can they justify this complete rip off of their customer? I have no idea.
Maybe a few of my readers can email Jane Holmes VP of corporate affairs at Woodbine and get a response to why HPI ramps up the Pick 3 takeout.
Email Ms. Holmes:
jholmes@woodbineentertainment.com
Other questions to ask, is how they justify having a 28.3% takeout on triactors when almost every other track charges 25% or less (I know that 4% goes to H.I.P. on triactors compared to 2% on all other bets, but in Ontario tracks only pays around 1.3% in taxes per bet, where most jurisdictions in North America pay much more)?
Also, ask how one qualifies to get a secret rebate deal of at least 7%? That should make the hair on the back her neck stand up.
I couldn't find Nick Eaves email on a quick internet search, but I'd like to see his response too.
One note: The H.I.P. (Horse Improvement Program) receives 2% on each wager, and as stated 4% on triactors, so there is no justification to ramp up the takeout rate on Pick 3's. In fact, if H.I.P. took out 4% on Pick 3's, the Pick 3 takeout at Tampa Bay is 20%, and the WPS takeout is 17.5%, so the track still gets more per bet from the Pick 3 no matter how you slice the pie.
If any Canadians want alternatives to HPI, where the money bet goes directly into the pools and you get race track payoffs, email me at: cangambleblog@gmail.com
If you aren't a HANA member yet please join the 800 bettors who have joined before you, it is absolutely free to join. Click here.
UPDATE: I've handicapped the Pick 3 for HANA, click here.
The results were OK. We added over $20,000 to the race 8 pools (an overall increase of over 90%), considering that it was our first week, and many members were shut out from betting Will Rogers (ie many Canadians, NJBets, NYRA bettors, Las Vegas, etc.).
TUESDAY'S PICK 3, RACE 6 TO 8 AT TAMPA BAY: SHOW YOUR SUPPORT AND BET IT
So this week we decided in our weekly Wednesday night pow wow to target a track that is available everywhere. Tampa Bay was a perfect selection. The fact that the track was rated 11th by HANA is just icing on the cake.
Tampa Bay regularly does over $3 million a day in handle, so picking a race and asking our members to just play the race, may not show how much power we have. We decided to go with a Pick 3 pool instead (they generally average around $12,000 in that pool).
I'm going to estimate that the pool for the selected pick 3 (starting at race 6 and ending at race 8) will be at least $35,000 once we pounce on it. Hopefully, it will be more. But a $35,000 pool is definitely worth taking a shot at.
Free Past Performances for the 6th to 8th races from TrackMaster (thanks again Craig) are available here.
NOW FOR THE OUTRAGE
Again, we purposely picked a track that was available everywhere. We did overlook one thing though, and this is more of a warning than an attempt to not get HPI members to play. HANA is all about awareness, so it is my duty as a Canadian HANA member to warn Canadian HPI customers about the following:
HPI payoffs on the pick 3 at Tampa Bay are only 93.75% of what they pay on track (and almost every USA ADW and simulcast location). That is right folks, the "brain trust" at HPI (ie Woodbine Entertainment Group) have determined that the takeout on Tampa Bay pick 3's are too low (at 20%), so they ramp up the takeout on it for their "loyal" customers. For example, yesterday one pick 3 at Tampa Bay paid $440.80 at source, but HPI only paid their lucky customers $413.30 on it. Another one paid $1831.80 on source, but HPI paid $1717.30 for the same hit (Dave Willmot thanks whoever caught it, for his new tie).
Is it any wonder that HPI chases away customers? And then they have the audacity to whine about it.
Here is the
Why might payoffs on some pools differ from that of the host?
Since some U.S. tracks have extraordinarily low takeout rates on some pools (e.g. Triactors, Superfectas) that do not accommodate the high mandatory deductions in Canada, WEG will use a minimum of 25% for the total takeout on these pools. This is a very common rate that is used by other U.S. tracks.
It costs HPI the same amount to take a pick 3 bet as it does to take a win bet. Yet they can "afford" to pay customers actual prices for win, place, and show, etc. So how can they justify this complete rip off of their customer? I have no idea.
Maybe a few of my readers can email Jane Holmes VP of corporate affairs at Woodbine and get a response to why HPI ramps up the Pick 3 takeout.
Email Ms. Holmes:
jholmes@woodbineentertainment.com
Other questions to ask, is how they justify having a 28.3% takeout on triactors when almost every other track charges 25% or less (I know that 4% goes to H.I.P. on triactors compared to 2% on all other bets, but in Ontario tracks only pays around 1.3% in taxes per bet, where most jurisdictions in North America pay much more)?
Also, ask how one qualifies to get a secret rebate deal of at least 7%? That should make the hair on the back her neck stand up.
I couldn't find Nick Eaves email on a quick internet search, but I'd like to see his response too.
One note: The H.I.P. (Horse Improvement Program) receives 2% on each wager, and as stated 4% on triactors, so there is no justification to ramp up the takeout rate on Pick 3's. In fact, if H.I.P. took out 4% on Pick 3's, the Pick 3 takeout at Tampa Bay is 20%, and the WPS takeout is 17.5%, so the track still gets more per bet from the Pick 3 no matter how you slice the pie.
If any Canadians want alternatives to HPI, where the money bet goes directly into the pools and you get race track payoffs, email me at: cangambleblog@gmail.com
If you aren't a HANA member yet please join the 800 bettors who have joined before you, it is absolutely free to join. Click here.
UPDATE: I've handicapped the Pick 3 for HANA, click here.
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