Article about horse purse funds diverted to states

I was wondering where horseracing takes go, with slots paying for purses, voila. The slots aren't paying for them like they have, plus less money devoted to it. Mountaineer gave up long ago, no longer even offering slots trackside, no longer offering last chance playing slots removed from the casino.

http://www.sj-r.com/article/20150904/NEWS/150909783

http://my.chicagotribune.com/#section/-1/article/p2p-84881302/


Maybe it's for the best,
http://www.paulickreport.com/news/ray-s-paddock/horse-racings-slow-motion-train-wreck/

http://my.chicagotribune.com/#section/-1/article/p2p-84881302/

The second link wasn't working. You'll have to copy and paste to read article.

Seems movement from betting directly at tracks, to betting at tracks on other tracks, to wagering online, reduces host tracks revenues less and less. Didn't know this, but assumed as so. This isn't in the articles.

With a 20% VIG betting horses people are better off playing slots.

If someone is so spectacularly lazy and innumerate that they are unable to parse out actual effective takeout, which varies greatly depending on the specific type of wager, the particular race venue, how the wager is made, who is making it (in the case of 'rebate shops' serving high volume players), and when & with whom, then they may be better off burning their paper currency as fuel to keep warm.. The takeout or hold on wagers involve very different specifics before getting brainlessly aggregated into a silly average that includes things like thousands of $2 bettors' pick-6 wagers made into a no carry-over pool with confiscatory takeout amounting to people buying slightly horsey themed lottery tickets. "The Vig" can actually be anywhere from under 5% to well over 30%, or even in some specialized circumstances which provide opportunities for structuring wagers in a particular way turned into less than zero when someone can have a mathematically certain net profit on the event regardless of the outcome of the race.

But then, firstly someone would need to do a whole buncha stuff like read lotsa words, some of 'em kinda big, and prepare to precisely calculate lotsa actual numbers, from stuff that's connected but in different places, while all that keeps changing. Not jjust feeling & guessing or "it looks like about" and be able to do it by their very own self, because it has to be done each and every time very quickly, instead of being handed a set of rules with "if you see A, then do B" instructions packaged for the very special brilliant sort of "AP" folk who ain't had no patience fur nun 'o dat book lurnin' stuff since tilting out on that whole kinda square world thing back in middle school.

Quote: AxelWolf

With a 20% VIG betting horses people are better off playing slots.

Quote: AxelWolf

With a 20% VIG betting horses people are better off playing slots.

I think the speed of the slots might make the horses better for some players.

Quote: AxelWolf

With a 20% VIG betting horses people are better off playing slots.

when I occasionally make some random bets, I usually avoid trifectas and longer shots because of this. Usually win, place, exacta bets, because of lower takes and higher pays. The pace is slower and the wins are structured differently in racing, even with higher holds, you still have a chance to have wins in multipliers of your bets. If you compare $10 horse bets to $.40 slot bets, I'm not sure I believe slots are that much better. 20% takeout is too much though. The high hold really makes a difference on those long shot pays that gets the people interested.

Quote: AxelWolf

With a 20% VIG betting horses people are better off playing slots.

Which people? All people? Or just people like you?

As far as horse purses, you might think it isn't fair to the tracks getting so little from takes and advanced deposit wagering, and it isn't. They make more money not hosting than hosting most likely and own the advanced deposit services themselves. They're cashing out and selling out the tracks which in most cases where racinos owe everything.

I only bet on horses every few months average, so really wouldn't be bothered if there was a race nationwide every 20 minutes. Something just doesn't seem fair how the players are running things when casino gambling was supposed to support racing and they're bailing. Mountaineer wasn't even air conditioned and smelled like manure before they removed lots of trackside slots years ago. Likely because they wanted to show bad revenue as a reason to shut down those operations, which didn't matter if it was their fault. Just seemed like there was something fishy there they got away with.

http://www.paulickreport.com/news/ray-s-paddock/i-robot-the-future-of-horse-race-wagering/

I didn't know this went on, having computers making bets. You think you're competing against real people, but you're really not, and they can as they will at the speed of light.

Quote: lilredrooster

Which people? All people? Or just people like you?

I'm definitely way better off playing slots.

I have only made a few small.-EV bets on the horses the rest have been +EV. However that's rare so I rarely ever bet them.

The average person probably would be better off as well assuming they spend the same amount either way. I'm not counting entrainment value that would depend on the individual.

Quote: AxelWolf

I'm definitely way better off playing slots.

I have only made a few small.-EV bets on the horses the rest have been +EV. However that's rare so I rarely ever bet them.

The average person probably would be better off as well assuming they spend the same amount either way. I'm not counting entrainment value that would depend on the individual.

to be playing the ponies now a days with +EV you would need to be great friends with the VETs

chemical warfare is the name of the game today

Quote: AxelWolf

With a 20% VIG betting horses people are better off playing slots.

this is silly...the good players take the other 80% more often than they don't

Quote: AxelWolf

With a 20% VIG betting horses people are better off playing slots.

Yes, but seeing a slot machine prancing, up on its toes, and all dappled out, doesn't do anything for me.

Quote: AxelWolf

I'm definitely way better off playing slots.

I have only made a few small.-EV bets on the horses the rest have been +EV. However that's rare so I rarely ever bet them.

The average person probably would be better off as well assuming they spend the same amount either way. I'm not counting entrainment value that would depend on the individual.

The hold doesn't matter because to lose as much on horses, people would have to play very large, and very quickly, like betting every track and race.

It's funny, when I talk about horseracing, the slot people tell me they don't know anything about horses, as if they know something about slots. Made me wonder if they're right, that completely randomly picking horses is so much worse than someone that has some background.


Then I realized, it must not be true, the casinos with horse betting, don't make it easy. They could have machines everywhere, races on the big screens, but they don't. At this brand new racino, you have two ways to get to horse races, up an escalator, or through a narrow hallway downstairs. Either way, you can't see the horse betting areas before you get there, and just going by memory, there isn't signage. Obviously the racino doesn't want people playing horses, or they'd nudge you there.

$20 win bet per race, 9 races, 18% takeout WPS, 20 minutes between races, 3 hours spent, average loss, $32.40. It is so much harder making a large bet on horses emotionally than putting $20 in a slot. Even if they lose every race, max loss $180. Casinos need more than $32, they'll get 500 if those same people play slots.