New York Off Track Betting president Raymond Casey has voiced his opinion on how capital generated by VLT should be better used by the state horse racing industry.
In an article today on The Saratogian website, Casey has said that the bolstering of purses via VLT monies has not translated into healthier handles. He states that the current model is beneficial to New York breeders, but it hasn't proven to be effective in terms of creating healthy wagering pools.
"The purse structure is not having the impact people thought it would," Casey was quoted as saying in the article. He went on to say that, perhaps, some money now dedicated for purses should be reallocated to marketing efforts, to promote racing and generate fan interest.
To read The Saratogian article in its entirety, click here.
(With files from The Saratogian)
when will the leaders of
when will the leaders of this industry stop trying to explain the reduction in handles in such terms as ' increased marketing 'or 'larger more competitive fields'. As a owner of hundreds of horses over the last twenty years and a person who would either be at a racetrack or on my couch betting through hpibet 6 -7 days a week, i can tell you with great certainty that you have lost your handle because your betting product is not competitive with the many betting products that are now available(poker, internet poker,internet sports betting, need more!) The only two ways to increase handle will be to decrease takeouts or adopt a lottery type bet in order to compete with the biggest tax on the stupid in the world , lotteries. This approach has worked in sweden and might be the eventual savior to those who believe that handle is an important sign of the health of the industry. i dont , i think it is a red herring put forward by a group of industry leaders who have never bet two hundred dollars to win on a horse in their life. I could go for hours explaining the stupidity of the handle argument but i am staring at a pair of pocket kings and they deserve my attention. happy betting!
This sounds all very nice
This sounds all very nice and warm but there is something missing. If OLG and the racetracks don't start making nice, yes it will all crumble. I am not sure if it is just me, when you drive to a racetrack what do you see first, a big honkin slots sign. When you are driving down the road to a racino what do you see?, a sign that says slots this way. When you walk into a racino what do you see first?, the slots parlour or a sign saying slots this way. Looks to me the partnership is a little one sided here don't you think. Money does have to be put to marketing for horse racing there is no question of that. Would there be any chance of working with OLG to create a marketing campaign that would boost attendance and revenue for both sides? The answer to that is there is OLG is government run, there advertising is cheap because the government makes so much money from it. Promoting horses comes from race handles, which I might say are low for a multitude of outside and self inflicted issues. Somebody has to pitch to OLG to get on the cheap advertising band wagon and at least make the signs the same size and change the road signs a little. Even programming a GPS won't pick up a racetrack very well, punch in casino and bam, try it sometime.
Marketing is the key to
Marketing is the key to getting this industry back on the map and pushing forward!!!
Ask horsemen from NY what
Ask horsemen from NY what the OTB's have done for racing? Very kind of him to offer a suggestion that will not cost him one penny. I would counter the entire industry should get on board with a combined marketing effort from racetracks,OTB's and purse accounts to a lesser degree included.
In Ontario there is a portion of SRA monies (Standardbred Revenue Allocation...it was a program set up in the mid 90's when the government cut taxes on wagering. Some monies went to the tracks, some back to the customers and some to the horsepeople for purses, OSS, Marketing and the pension plan) designated for marketing. The budget for last year was north of $200,000 and over the past three years over $750,000 has been invested. There is money being spent and there are efforts being made.
Darryl MacArthur
GREAT! I love this guy. when
GREAT! I love this guy. when hes done fixing horse racing maybe he can fix major league baseball, the national hockey, nascar, and boy scouts of america.
Took a long time for
Took a long time for somebody to wake up, but better late than never. This guy's a master of understatement as evidenced by his use of "perhaps"...
I think that the racetracks
I think that the racetracks should have to spend a set amount on advertising. As it is now,there is next to no advertising on racing,horses or drivers. It is a pretty simple thing to do,I just dont understand why it is not being done. Dont they have an obligation to get people interested in their tracks,horses etc..?
So they should be forced by the regulating body to start and advertise their product.A start could be to not raise the purses so much. Maybe instead of a 6% increase in purses,make it 3 or 4 and the rest to advertise in the papers and on t.v.? Something has to give sooner or later and this is such a simple thing.It is after all their tracks and horseman can only do so much to get the word out of what a great sport this is.
Thanks
Bob Fex
finally somebody wakes up
finally somebody wakes up and has a long term vision so with good marketing they will be able to develop a new interest for the horses themselves and help the horse business to survive without the slots.
Slots are just there for a short term until goverment transfers incoming money from the slots to others fields like education or helth care which is going to be better for their re-election. If we dont proceed now, in less than 15 years you can say good bye to your business or sport.