tag:blogger.com,1999:blog-8560898823512627114.post7449290759366264224..comments2024-02-01T00:37:24.768-05:00Comments on PTP: The 5% On-Track Rewards Card & A Big Super High 5Pull the Pockethttp://www.blogger.com/profile/05082676049275768769noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-8560898823512627114.post-45347754933894227512013-01-12T23:01:20.086-05:002013-01-12T23:01:20.086-05:00I believe this article was promoting the idea of a...I believe this article was promoting the idea of a "reward/rebate" for betting ON-TRACK. Somehow this has turned into a lower-takeout vs rebate debate. <br /><br />Lowering the takeout across the board in Southern California is not going to happen anytime soon, I assure you.<br /><br />I think we can all agree on the most important point made in this article " Be their partners, help them win more, make their day more enjoyable".<br /><br />The horse-player friendly casinos (Las Vegas) adopted this attitude when pari-mutuel wagering was instituted in their race books and they were no longer "at risk".<br /><br />Race Tracks need to do the same.Marquezhttp://www.toptenturf.comnoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-8386800158531540092013-01-12T19:41:05.250-05:002013-01-12T19:41:05.250-05:00Eric,
I assume we have the common goal of restorin...Eric,<br />I assume we have the common goal of restoring a level playing field for bettors. I believe LOWER equal direct takeout applied to all participants of any pari-mutuel pool without any rebating is the fairest, simplest, most transparent, and lowest cost solution.<br /><br />Is it reasonable to settle for equal effective takeout for all such participants through rebates? I’m not sure because I think equal rebates for all still give whales/professionals an incentive to crush contenders and further lower payoffs resulting in even smaller, low risk profits to the games detriment.<br /><br />However, if this would provide a vehicle for equal treatment of on-track and off-track players of all bankroll sizes AND it were coupled with more reasonable and realistic IRS withholding practices, then I would support the compromise.Indultonoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-61481980384859152632013-01-12T17:46:42.392-05:002013-01-12T17:46:42.392-05:00Vegas has proven that a rewards card can work, esp...Vegas has proven that a rewards card can work, especially for the average player. The key will be in implementing the program. Some race track execs don't believe in this type of promotion. Many race track execs are too afraid too implement something that will not show an immediate return for fear of getting ousted (Santa Anita?).Marquezhttp://www.toptenturf.comnoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-20616236210315677702013-01-12T10:47:38.416-05:002013-01-12T10:47:38.416-05:00LOL..I did read that Gural has given in to offerin...LOL..I did read that Gural has given in to offering up rebates!...yikes.<br /><br />For the record my position is that rebates should be offered to all players by lowering takeout for all. In the meantime I don't begrudge players for taking the rebates offered with both fists. I guess the shrewdest players wager offshore where there are some attractive rebates available???!<br /><br /><br /><br />Eric Potecknoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-58132639329823788462013-01-12T08:16:09.641-05:002013-01-12T08:16:09.641-05:00My idealistic friend is back.
Stop being anti-be...My idealistic friend is back. <br /><br />Stop being anti-bettor. Quit trying to get everyone to bet into your 22% takeout pools please. DO you work for a racetrack?<br /><br />:)<br /><br />PTPPull the Pockethttps://www.blogger.com/profile/05082676049275768769noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-9609277271604354282013-01-12T08:00:28.070-05:002013-01-12T08:00:28.070-05:00Pocket, say it aint so!
When I explain pari-mutue...Pocket, say it aint so!<br /><br />When I explain pari-mutuel wagering to the uninitiated I explain it as a competition among all the bettors. In order to break even on your wagering you must be 20% smarter/luckier (assuming a 20% average takeout) than your competitors. <br /><br />By offering one competitor a 10% rebate, that competitor only has to be 10% smarter/luckier than their competition, thereby creating an unlevel playing field, creating a game that is not fair to all.<br /><br />Simply put rebates change the probabilities of one player verse another. As such rebates pervert the beauty and fairness of the pari-mutuel model. <br /><br />There is no place for the ’bakers dozen’ philosophy of sales in pari-mutuel wagering.<br />Eric Potecknoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-60897744733218414242013-01-12T00:41:26.904-05:002013-01-12T00:41:26.904-05:00I really like the concept. I think most of us are ...<br />I really like the concept. I think most of us are falling short in selling our product to our own customers. Most have reward cards and rebates but don't do enough with them. This could definitely take it a step further in the right direction.<br /><br />Good stuff!<br /><br /><br /><br /><br /><br /><br /><br />Anonymoushttps://www.blogger.com/profile/13141992100520150922noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-43048912976271755402013-01-11T21:21:58.636-05:002013-01-11T21:21:58.636-05:00;);)The Cowboy Squirrelhttps://www.blogger.com/profile/16226787686800861597noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-89288927754293717342013-01-11T12:10:25.837-05:002013-01-11T12:10:25.837-05:00"Second Chance" rebates for returning on..."Second Chance" rebates for returning on-track patrons have long been advocated without success.<br /><br />Perhaps your "on-track bet card" (OBC) can make it happen, but what percentage of on-track players use "track rewards cards" now?<br /><br />What would really sell this OBC concept would be its ability to verify an individual's total investment in a single pari-mutuel pool to determine whether an IRS signer was warranted when cashing.Indultonoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-27459146653900472662013-01-11T10:32:41.860-05:002013-01-11T10:32:41.860-05:00Hey Kyle,
That was put in there for doability. Yo...Hey Kyle,<br /><br />That was put in there for doability. You have to show something tangible when you do something, esp with horsemen groups. <br /><br />Raise takeout and handle goes down, they blame it on the weather or economy. 5% players reward card and show a pool go up by $300,000, well then you have something to expand the meme. <br /><br /><br /><br />PTPPull the Pockethttps://www.blogger.com/profile/05082676049275768769noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-11598123311602971892013-01-11T10:15:28.861-05:002013-01-11T10:15:28.861-05:00I'm not against anything that puts more money ...I'm not against anything that puts more money back in players' pockets. Wish you would have left out the "visions of Super-High Five riches" though. It's the game's worst bet - handles a realtive pittance nationwide (thankfully) and I suspect is a vehicle at times for the larcenous. That it was born of the maddening mis-conception that the 10 cent super had diminished payouts is sufficient reason alone to loathe it.kylenoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-91322566246775681152013-01-10T19:04:31.719-05:002013-01-10T19:04:31.719-05:00Interesting idea. This could be tweaked so many wa...Interesting idea. This could be tweaked so many ways (depending on the track). Like the idea of bringing them back the next day, or at least giving them an option to do so.Marquezhttp://toptenturf.comnoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-82164820737713933742013-01-10T18:34:35.201-05:002013-01-10T18:34:35.201-05:00Rebates = Dirty WordRebates = Dirty WordAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-77252274929784268562013-01-10T18:24:45.899-05:002013-01-10T18:24:45.899-05:00Not sure how many tracks do 3 million in live hand...Not sure how many tracks do 3 million in live handle a day these days:)<br />I like the idea, I think it is best to give the rebate next day though. The idea is to cultivate the customer, which means that player has to come back to use the rebate.Cangamblehttp://cangamble.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-8560898823512627114.post-81499914914075829032013-01-10T13:48:43.978-05:002013-01-10T13:48:43.978-05:00The horsemen won't like it. Revenue might go d...The horsemen won't like it. Revenue might go down about $50 for a few months while they sign people up. That would be $20 or so less money per week for purses for at least sixty days........<br /><br />RRnoreply@blogger.com