The Mother Goose Stakes

[philcski]

Originally Posted by Storm Cadet

But in this case, NYRA only got 10,000 in entry fees and pays out 250,000. The Suburban got only $24,000 in entry fees but shells out $400,000 guaranteed. WHERES does this extra $$$$ come from? Does NYRA take the hit?
I'm sure they would have liked to have at least 10 starters in each to reduce their purse layout or do they have this build in in some purse reserve account?

Thanks for your input!

It's called takeout from handle. That's what pays every (non-slot fueled) purse in the world...

[Storm Cadet]

Originally Posted by philcski

It's called takeout from handle. That's what pays every (non-slot fueled) purse in the world...

Phil,

I know that the handle pays, but how many 1/4 million hits can they absorb from the takeout with all their other funding issues as we see these short fields and dwindling attendance? I know they don't have a balanced budget, but I'd sure hate to be the accountant who does financial projections on race purse and takeout for NYRA.

SC

[philcski]

Originally Posted by Storm Cadet

Phil,

I know that the handle pays, but how many 1/4 million hits can they absorb from the takeout with all their other funding issues as we see these short fields and dwindling attendance? I know they don't have a balanced budget, but I'd sure hate to be the accountant who does financial projections on race purse and takeout for NYRA.

SC

Quite a few... the handle on Saturday for NYRA racing alone will probably be around $7-8MM. Their blended take is probably around 12%, factoring in off track percentages kept. That's $1,000,000, which is plenty enough to cover the purses if they did a better job with efficiency. The problem with short fields is they're a LOT less attractive to bet, which decreases handle.

On top of that, they simulcast other facilities, which is basically "free money" from their perspective.