Oaklawn reduces minimum bets

[herkhorse]

Oaklawn has reduced minimum bets on pick 3's and pick 4's to 50 cents, and the Classix (pick 6) to 1.00

I guess it was inevitable, but it still makes me

[jms62]

Originally Posted by herkhorse

Oaklawn has reduced minimum bets on pick 3's and pick 4's to 50 cents, and the Classix (pick 6) to 1.00

I guess it was inevitable, but it still makes me

Say hello to the 200.00 P4 payout making an unbeatable game even more so.

[Calzone Lord]

Originally Posted by jms62

Say hello to the 200.00 P4 payout making an unbeatable game even more so.

Bet it more times for 50-cents.

If anything -- lower minimums make the game more beatable because they greatly diminish your chances of having to deal with withholding on a big paying ticket and they greatly reduce the amount of times you sign.

[cmorioles]

Originally Posted by Calzone Lord

Bet it more times for 50-cents.

If anything -- lower minimums make the game more beatable because they greatly diminish your chances of having to deal with withholding on a big paying ticket and they greatly reduce the amount of times you sign.

I agree, I've never really understood that argument. It does cut down on the chances of a huge, take the whole pool type score. What it also does is put a whole bunch of dumb combinations in as well. At worst it is a push, and at best probably helps those that are smart about the bet.

It's definitely a challenge not to get lazy and play safe...which usually results in a bloodbath.

[jms62]

Originally Posted by Calzone Lord

Bet it more times for 50-cents.

If anything -- lower minimums make the game more beatable because they greatly diminish your chances of having to deal with withholding on a big paying ticket and they greatly reduce the amount of times you sign.

Unfortunately there is no analysis that supports what you said. Payouts are watered down and simply doubling up doesn't get it done. Players will bet the same amount as always and have more combinations thus watering down the payout. One thing it is doing is driving down handle probably pushing some whales out of the door. Would love to see some hard and true analysis on the effect of lower minimums

[cmorioles]

Originally Posted by jms62

Unfortunately there is no analysis that supports what you said. Payouts are watered down and simply doubling up doesn't get it done. Players will bet the same amount as always and have more combinations thus watering down the payout. One thing it is doing is driving down handle probably pushing some whales out of the door. Would love to see some hard and true analysis on the effect of lower minimums

They drive down the biggest payouts, but they drive up others. We'll see how handle compares to last year, but anything that makes the pool bigger should help a player with an edge.

[RockHardTen1985]

Originally Posted by Coach Pants

It's definitely a challenge not to get lazy and play safe...which usually results in a bloodbath.

Well said. Any track that offers 50 cent pick 3's I try to play for a minimum of $1.50 and punch 2-3-2 type tickets. Its very easy to get lazy and go 4-4-5 for 50 cents. Then you get prices and its only paying around $100. I will only play a minimum of 50 cents if its for just some action of BC days.

[DaTruth]

Originally Posted by RockHardTen1985

Well said. Any track that offers 50 cent pick 3's I try to play for a minimum of $1.50 and punch 2-3-2 type tickets. Its very easy to get lazy and go 4-4-5 for 50 cents. Then you get prices and its only paying around $100. I will only play a minimum of 50 cents if its for just some action of BC days.

I thought you were more fond of going ice cold with $100 1-1-1 tickets.

[Alan07]

They just signed a deal with TVG. Now if they could only get a turf course.

[Oaklawnfan]

Times are certainly changing at Oaklawn. First, Terry Wallace retires. Second, they lower the minimums on Pick 3's, 4's and the Classix. Now they'll probably get a casino. Oh wait a minute! They've already got one! At least I can enjoy the use of a Tote Machine rather than visiting those friendly and cordial Mutual Tellers. I thought Oaklawn was setting records and still doing it while going against the grain.

Originally Posted by Alan07

They just signed a deal with TVG. Now if they could only get a turf course.

With a name like OakLAWN and TURFway, you would think they would get one already

[NTamm1215]

Originally Posted by Alan07

They just signed a deal with TVG. Now if they could only get a turf course.

The weather is not conducive to turf racing. They'll never add a turf course.

For everyone predicting $200 Pick 4 payouts at Oaklawn, you've definitely not followed their racing much. They only offer one Pick 4 per day and the races that make up the sequence are often large, competitive fields. The lower minimum will add to their handle (which is often as much as 33% on-track money) and that's a good thing.

[jms62]

Originally Posted by NTamm1215

The weather is not conducive to turf racing. They'll never add a turf course.

For everyone predicting $200 Pick 4 payouts at Oaklawn, you've definitely not followed their racing much. They only offer one Pick 4 per day and the races that make up the sequence are often large, competitive fields. The lower minimum will add to their handle (which is often as much as 33% on-track money) and that's a good thing.

Just like it helped Saratoga payouts. Lets have some fun and track their payouts this year and compare vs last year at 1 dollar increments. I will concede that handle may improve in year 1 but my opinion avg payouts will be down and their will be less 1k payouts vs 2k payouts from last year. And no i do not follow oaklawn because i have spent too much time in the past handicapping the card only to have it be cancelled due to bad weather.

[herkhorse]

I love the Oaklawn meet. The Pick 4's will still pay quite well, it's the 50 cent tri's and pick 3's that I could do without. As far as the weather goes, outside of January, it's really a non issue. I believe it's the only racetrack located in a National Park, they are not allowed to put any anti-freezing chemicals on the track. I'm really looking forward to the post Terry Wallace era, and who doesn't love those Arkansas women?

[NTamm1215]

Originally Posted by jms62

Just like it helped Saratoga payouts. Lets have some fun and track their payouts this year and compare vs last year at 1 dollar increments. I will concede that handle may improve in year 1 but my opinion avg payouts will be down and their will be less 1k payouts vs 2k payouts from last year. And no i do not follow oaklawn because i have spent too much time in the past handicapping the card only to have it be cancelled due to bad weather.

I really think this is subjective. Did you compile data on the Pick 4 payoffs at Saratoga this meet? If you look at the Saturday and Sunday late Pick 4s from the start of the meet through the end (minus the cancelled Sunday and the final Sunday where the nightcap was cancelled) you had an average pool of $746,050.75. The average win parlay was $2,907.27 and the average payoff $5,419.92, roughly 186% over.

[Travis Stone]

I have no data to prove anything, but lower minimums, in my opinion, lower payoffs overall in the various pools. It's purely a subjective opinion, and nothing but an observation.

That said, it's cheaper to jump-in, and that's never a bad thing from a marketing perspective. But "lowered minimums" is not a new trend and now it's getting to the point where "higher minimums" is a bad thing.

[Rudeboyelvis]

Every racetrack worth playing has .50 P3 & P4's... I personally don't think the the .50 P3 offers enough value as I usually play that bet for 2.00 on a short ticket if I play it at all. The P4 is a great innovation though and am thrilled when it's available. The 1.00 P6 is smart in that it will increase play, thus increase the carryovers. Curious to see how this works out for them, if successful, I'd imagine you'll see it offered at the more progressive tracks that have the fluidity to adapt to their customer's wants.

On the other side, the Rainbow 6 at GP was a gimmick and didn't last... A fine line to walk, but bettor's usually get it right in deciding what to play and not to play.

[Oaklawnfan]

Wasn't Oaklawn the last track to lower the Classix (Pick Six) down from a $2 minimum?

[ranger5830]

The NYRA tracks and California (Golden Gate and SA/Hollywood/Del Mar) still all have $2 min. pick 6.