Friday, April 16, 2010

Head(line) Scratchers

The "California lowers takeout" headline has been making its way through the internet, on Equidaily, Paulick and others. Equidaily placed it at the top with an addendum "Calfornia lowers takeout! "When people win more often, they feel like playing more often."... Hey-y-y - wait a minute...!!!"

The "wait a minute" line was of course due to the fact racing has not lowered takeout, lotteries have.

The lottery data shows what we all know - when you lower the price, revenue will go up, because people will win more money.

Conversely, the California Horse Racing board had a meeting yesterday, with supposed data on the takeout hike that happened this spring at Los Alamitos. Overall handle, when measured against last year day by day via Equibase, fell about 30%, but the CHRB and Los Al figures appeared to compare something wholly different. Because they don't know what figures to use, the takeout hike has been extended for at least another month.

I hope it is fixed in a month, because people will be having more fun with scratch tickets, at reduced take, in the meantime.

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