Monday, September 3, 2012

What Happens to Racing Handle With VLT's & Why

When you open a slots parlor at your racetrack, what ends up happening to your horse racing customers? That was explored this weekend in HRU (pdf).
  • In volume 44 of "Applied Economics" a research paper was published this year, titled "The demand for slot machine and pari-mutuel horse race wagering at a racetrack-casino" by Richard Thalheimer, a study was undertaken to determine the effect of slot machines and table games at racetracks on betting handle. Using econometric methods, i.e. using statistics that filter out factors (the economy etc) unrelated to slots and their correlation to betting handle, the author was able to conclude that: "Pari-mutuel horse race wagering fell 21% after slot machines were introduced and 16% following the introduction of table games."

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