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Showing posts from July, 2018

There's More Than One Response to One Big Aftercare Ask

Crunk tweeted this today --
What message does "racing" think it's sending when every winning ticket that's inserted into tote machines on track, the user is asked to make a donation to aftercare? I was surprised at this experience at SAR last w/e. Essentially forcing customers to think about this issue. — o_crunk (@o_crunk) July 30, 2018 On the surface, and for regular horse fans and bettors, this is pretty basic - Help aftercare with a touch of a button. Great idea.

If we slap on the critical thinking hat and look a few rungs below the top of the ladder, it becomes a little more problematic.

If you're at the track for the very first time and see this, your response might be different.

"They don't have a plan to take care of these horses when they retire? What kind of business would do that?"

If you're a politician out for a stroll that is unaware of the size of some of the tax breaks, or gaming subsidies, you might say, "I have to find ou…

Grinding Down the Bankrolls of the Masses

David Schwartz of UNLV wrote a neat article on blackjack in Forbes today (h/t to Charlie).  In it he explores what's happened over the years as casinos have tried to make changes to the margins to earn more rake from each player. This includes 6-5 blackjacks and standing on a soft 17.

Proponents of 6:5 and the other edge-padding rule changes argue that the vast majority of customers don’t know the difference. Walking a casino floor and seeing 6:5 tables packed with smiling players, they might be right. But the numbers tell a different story. 
Since 2000, the number of blackjack tables in the state of Nevada has fallen by over 31 percent. Yes, but the amount casinos win from blackjack is still the same, some might argue, so things aren’t that bad. Factoring in inflation, though, the amount Nevada casinos have won at blackjack has fallen by 46 percent.
This is not much different than is seen with a marginal takeout increase in any game. Betting volume depends on a few things, one of…

May's Numbers Are In - Here's My Completely Back of the Napkin Monmouth Sports Betting Projections

Crunk linked today's New Jersey gaming report, and here were some numbers.
On $16.4M total handle, 7.8% hold. Full report can be found here (.pdf): https://t.co/FiHAbx0x19https://t.co/bKx3dLefYs — o_crunk (@o_crunk) July 12, 2018 Doing a little math we see Monmouth did about $10.8M in handle for the couple of weeks they were operating in May. Extrapolating handle is pretty problematic because this is like a cat trying to catch a laser pointer, but let's say for an average May this would mean Monmouth would bring in about $20M in sports wagers.

In contrast, Nevada Sports Books did $315M this May.

Playing around with the numbers, we can make some probably wildly inaccurate projections, but projections based on something concrete nonetheless.

I'm taking into account a 5% hold (it was reported as 7.8% but it will likely come down), 9% to the state, 50% to Monmouth as an operator and 40% to purses. Those last two percentages could be off, as Crunk in his tweet notes, but they…