NYRA Late Pick 5

[Kasept]

Originally Posted by freddymo

All true. If you are looking to build an ADW to compliment the best circuit in country you need to look to the future. Yes guys come to OTB's with X dollars to have fun and bet a few hundy for the day, all true. I think Andy is right its a complicated issue that has +/-'s, give it time IMO and see how it plays out

And it may be a provincial acknowledgement, but the revenue generated by NYRA Bets ~ because it's considered as 'at the track' wagering ~ substantially benefits the capital improvement, backstretch and breeding programs in New York.

[ScottJ]

Originally Posted by Kasept

And it may be a provincial acknowledgement, but the revenue generated by NYRA Bets ~ because it's considered as 'at the track' wagering ~ substantially benefits the capital improvement, backstretch and breeding programs in New York.

This is absolutely the critical point. The NYRA Bets Late Pick 5 is an effort (experiment) by NYRA to regain control of a single parimutuel pool that has been requested by bettors. When you are talking about NYRA races, pool size is not the issue, so we are seeing NYRA using their market leadership to gain exclusivity for a new bet.

To those without New York ADW or NYRA Bets access, this might seem like it is decreasing the pool size. However, it is really clear that NYRA has NOT taken this Late Pick-5 pool as just another revenue source. NYRA is strategically testing their ability to control the product - meaning owning the racing, the signal, and the mutuel pool.

While this might be "complicated", NYRA is doing something BRILLIANT to rebuild their wagering market.

[KidCruz]

Originally Posted by Kasept

And it may be a provincial acknowledgement, but the revenue generated by NYRA Bets ~ because it's considered as 'at the track' wagering ~ substantially benefits the capital improvement, backstretch and breeding programs in New York.

Respectfully Steve, this logic is such a stretch that even NYRA themselves hasn't reached this deep into the reasoning jar for it.


Remember in the winter when Andy made the extremely cogent and necessary criticism of the Pegasus purse structure? What if Gulfstream had said "Hey! Promoting this as a $12 million dollar race allows us to get on NBC and allows us to bring in more handle, HELPING DEVELOPMENT AND BACKSTRETCH EMPLOYEES?" Would that have been sound enough reasoning?

How about when Steve Crist (boy do we miss his voice) went right at Churchill Downs for the shameful siphoning of the Derby Day Pick 6 pool to build a pot for a jackpot bet? What if Churchill Downs came out and said "Hey! By building this jackpot pool, we will exponentially increase daily handle in a sagging bet, TRIGGERING CAPITAL IMPROVEMENTS." Would that have been sound enough reasoning?

Everything is about dollars and cents and trying to sugar coat it with some altruistic idea about development and the backstretch is completely unfair and a benefit of the doubt the rest of the industry would not and should not get.

This is a promotion to draw customers to their ADW. Trying to present it as anything else is slap in the face, especially to people who have betting NYRA all their lives in PA, NJ etc.

[Kasept]

I was referring to the benefits of the overall revenue that NYRA Bets generates.. not suggesting it as a justification for the promotion. However, I will reiterate that the platform provides more benefit to the industry by its' design than any other betting operation. And I acknowledged it's a provincial view, but as a stable, I'm involved in breeding and racing NY breds and have a vested interest.

As you said, they're trying to draw people to the platform. Despite the excluded jurisdictions, it's available to a vast majority of players. It's an imperfect concept.

[Benny]

Originally Posted by Kasept

I was referring to the benefits of the overall revenue that NYRA Bets generates.. not suggesting it as a justification for the promotion. However, I will reiterate that the platform provides more benefit to the industry by its' design than any other betting operation. And I acknowledged it's a provincial view, but as a stable, I'm involved in breeding and racing NY breds and have a vested interest.

As you said, they're trying to draw people to the platform. Despite the excluded jurisdictions, it's available to a vast majority of players. It's an imperfect concept.

It would be interesting to hear from Mr Allevato on ATR, ???

[Kasept]

Originally Posted by Benny

It would be interesting to hear from Mr Allevato on ATR, ???

Good suggestion Benny. We has planned to do a segment at Saratoga last summer but ran out of time.

[KidCruz]

Originally Posted by Kasept

I was referring to the benefits of the overall revenue that NYRA Bets generates.. not suggesting it as a justification for the promotion. However, I will reiterate that the platform provides more benefit to the industry by its' design than any other betting operation. And I acknowledged it's a provincial view, but as a stable, I'm involved in breeding and racing NY breds and have a vested interest.

As you said, they're trying to draw people to the platform. Despite the excluded jurisdictions, it's available to a vast majority of players. It's an imperfect concept.

I can concur with that. It's an awesome bet that excludes players.

[jnunan4759]

I've been thinking a lot about this and the TV programs.

I love it because I've played NY for 40 years. NY is over 25% (Maybe more) of the US handle for the year. Most of that is through ADW's or other tracks. NYRAets lets them take more of that handle as if it is on-track.

Does it help NY horsemen, absolutely. Does it help NYRA, yes too.

I think this is an ingenious plan, the more I think of it.