Monday, January 28, 2008

Churn Baby Churn; and Barbaro

Here is an email I received from a smaller player trying to make it in this game.

I registered for a premium turf club (sic) account and I must say I am impressed. All they need now is free video and programs. I like the smaller tracks like Monticello and Northville... I even tried a place ticket on a 3-1 greyhound...... best yet.... I started with 100........ betting frivilously and stupid, I blew it all... but next day I had 23 dollars in my account.... and then last night.... I got the 23 all the way back up to 100 (I work on a different scale then you) and then blew it all again (I got to start reading your handicapping advice, especially on longshot betting... longshots can put a person in a tailspin).... but anyway I managed to bet about $700.... So now they throw 35 back in my account....... Thanks for playing!!......... Back to the slow grind

That folks, is churn.

If he put his money in an ADW like or HPIbets he is broke after the first day. Instead, with daily takeout reductions given to him via an overnight rebate, he played the next day. Then after he lost again, he played the next day again. His betting volume was around $700, and he is still playing.

We must start to send people home with money when they go to the track. Vegas long ago learned that they could not send everyone home a loser - if they sent everyone home broke, they would be broke, because customers will not come back. Twenty years ago with racing the only game in town that might have been an option. It is not any longer.

This to me is a big reason why we bet $15B in 1990, and 17 years later with perhaps the most salient and potent technology to hit the wagering earth (the internet and in-home feeds), we still bet $15B. People seem to want to blame that on everything else but themselves in racing. Punters who might have grown this game by being regular customers have been tired of getting their head handed to them and have said no mas. Daily sizable rebates help them become long-term players, and get interested in racing.

Premier Turf Club is one place who seems to understand this. Please check if it is available in your place of residence. Rules do not allow them to be offered everywhere.

There is a plan to get a new statue up, in Central Park of Barbaro.

Before you say "that's nice," look again.

The Barbaro Memorial" will depict the thoroughbred champion in the winner's circle on his back with his number 8 saddle cloth draping his belly and hooves in the air, representing his inability to stand on his feet due to the debilitating laminitis which followed the shattered ankle he suffered in the 2006 Preakness Stakes.

"We feel Barbaro's Law is sympathetic to recent efforts in horse protection legislation," said gallery co-director, John Leo. Councilman Tony Avella drafted animal rights legislation that would ban New York's horse-drawn carriages when carriage horse Smoothie died from running into a tree after being spooked by a street musician's drum last September.

Oh my head.

At least the sculptor is mainstream. Yes, that is sarcastic.

Edwards's previous sculptures include a nude Britney Spears giving birth on a bearskin rug, an interactive autopsy of Paris Hilton with removable organs, and a war dead Prince Harry clutching the cameo-locket of his late mother Princess Diana.

This is how like to remember Barbaro. It is his maiden win. And it's beautiful.

He was a beautiful horse.

Other Quick Notes:

Prairie Meadows sticks pretty much with the status quo. Anyone surprised? Good for them I guess.

The story below about Racing Under Siege has some interesting reaction from owner Alvin Stein. Thanks to the Harness Edge for that.

Donato Hanover won the Horse of the Year. No surprise there I guess. I want some of whatever the writers were smoking picking Dewey ahead of Snow White in that voting, though. I wonder if those folks actually watch the races. For my take you can read my post on the Horse of the Year here, if you haven't. Be prepared to gasp at the Snow White video. What a monster she is!

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