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Originally Posted by blackthroatedwind
This is a very naive approach and exactly the kind of thinking by racetrack management ( on a variety of situations ) that helps keep racing in the dark ages. Just because a change, in this case a popular one, does not pay immediate dividends does not mean it won't be successful in the long run. While takeout obviously doesn't change from $1 supers to dime supers, the dime super obviously allows more coverage overall for all your players, and probably rates to keep more money in action, and thus possibly raises the churn on this bet....which is what increases handle. Instead of the money from the pool being dispersed to a few bettors it ends up spreading it more thinly to many betters. Theoretically this is better for churn ( and thus handle ). It's early ( for me and this bet ) and over time it is highly possible that this bet will prove a handle booster.
It's also worth noting that the $20 you give as an example that is wagered at another track, through simulcasting, provides only incremental less dollars to the simulcasting outlet. One could argue that the few lost dollars are more than made up by keeping your customer happy.
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I don't think the churn figures are as high as we might think. People are not attacking the wager properly. If you walk around our track, the floor is scattered with $2.40 super boxes. Obviously, this is an ineffective way to bet the wager (and yes, all tix on the floor are losers to begin with). Personally, I am constantly struggling with the best way to play them and have almost phased them out completely.