Here is where we juxtapose:
This spring: California lotteries decreased takeout. This was in response to soft sales. According to a spokesman, this reduction of takeout should help the lottery grow:
"There are more prizes to give out, so people are going to win more often," said lottery director Joan Borucki. "When people win more often, they feel like playing more often, which in turn will increase sales, and as sales go up"
What was the result of this takeout cut?
Scratcher sales leaped by $55 million in June, the first month that a new law allowed lottery officials to increase the percentage of revenues [lower takeout] in prize money."
What are they budgeting for the future?
"In its budget for the fiscal year that began July 1, the Lottery Commission projects total annual revenues, including all games, will climb from $3 billion to $3.5 billion, a 16 percent increase.
"We're on a pretty good path," Lottery Director Joan Borucki said. "We're able to put a lot more prizes into the game.""
In contrast, after a takeout increase for horse racing at Los Al, and a subsequent 27% on track handle drop (which they voted to extend) there now appears more madness on the way in California horse racing.
It is rumoured that they are looking to increase thoroughbred takeouts by up to 3%.
The California lottery system (a competitor of horse racing) lowers takeout and increases sales. Horse racing hikes takeout at Los Al on quarterhorse racing and decreases sales. Now they want to do the same thing in thoroughbred racing.
With leadership like this, is it any wonder why we're in the tank?
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5 comments:
There is something we don't know going on. This is the only way you can explain this stupidity. I would love to hear an explanation as to why they feel they need to increase the takeout.
The Neanderthals believe that raising takeout means more money bottom line.
Let's see.....
Raising takeout is stupid.
But.....
Raising distribution/host fees which will cause the biggest bettors and even small bettors who get rebates/incentives to bet much less or stop betting entirely is a main step in saving harness racing.
Hmmmmmm?
if the lottery can workout reducing takeout works but racing can't, then you might as well just close the gates and give up...
Why are people like Bo Derek making gambling decisions in California?
Was Jim Carrey not available?
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