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Racing and "I Don't Know"


Why is it that when you ask a question to someone formulating and implementing racing policy, the answer is more often than not, "I Don't Know".

We need geotargeting.

Why?

People are betting on their ADW accounts at the track.

How much?

I don't know.

Are we losing revenue?

Yes.

How do you know?

I don't know.

If we inconvenience customers for a slightly higher margin, will those playing on ADW's bet the same amount when on track at the windows, or will some stay home and play, hurting attendance?

I don't know.

That's one example. But you can ask the same questions about how much Derby Wars is "hurting" Magna, or how much revenue will be lost or gained from a takeout change. The answer, invariably, is "I don't know". 

You'd think with hundreds of billions of dollars of handle over the last 100 years, racing would be able to use data to change policy like a real business: Forecast, model, project, look at the cost-benefits, and then decide.

Instead, it's not like that. It's "I don't know."


Comments

Sal Carcia said…
I thought you told me there were a lot of smart people running the game. Or I did I get it wrong as I usually do?

I still think HANA has a lot of brainpower to influence the game. And customers being satisfied cannot be bad.
Pacingguy said…
Here I disagree, if you are at the tracks, using your ADW account the tracks should earn more than the paltry amount. How much, I don't know.

I do know the Meadwolands and TVG came to an agreement so the Meadowlands earned more on ADW wagers placed on track. TVG didn't have a problem, they agreed the Meadowlands should have earned more.

I am not saying it has to be the full amount the track would normally earn, but it should be more than the 3% horsemen and the track split.
Anonymous said…
Pacing Guy:
Your comments make sense, but I didn't see that as the big point from PTP. Racing managers make decisions that affect bettors without solid information. When pressed, they lack answers. Why? "I DON'T KNOW."
BitPlayer said…
Isn't that the point of the proposed rule: to require ADW's to collect and report to the tracks data regarding ADW betting at tracks, so that the answer won't be "I don't know."