BEYER: Racing still draws, just not to track..

[freddymo]

http://www.washingtonpost.com/sports...9_story_1.html

[Kasept]

Terrific piece..

http://www.washingtonpost.com/sports...9_story_1.html

In 1983, when the Belmont grandstand with bustling with activity, the average daily betting at the summer meeting was $3.46 million. Adjusting for inflation over three decades, that amount is the equivalent of $8.12 million today.

At the Belmont summer meeting of 2013, wagering averaged $10.1 million per day — exceeding the figures from the supposed good old days

[Danzig]

'Perhaps clever marketing departments should reach out to gamblers at online poker and sports-betting sites and try to introduce them to the greatest of all gambling games.'


agreed! great article, and disproves all the 'sport is dying' comments based on track attendance alone.

[randallscott35]

Why 1983?

Maybe because that was the exact bottom of the last recession that compared to the one we just went through? Is he using CPI for his inflation adjustment? That basket has changed as well since the 1980's.

Racing is far from death. The idea, however, that someday we will have 50 people at Belmont and our handle will be surging just doesn't make sense. And even after his inflation adjustment, that uses suspect and cherry picked dates, there is little if any growth in 30 years....Mind you when I think about the glory days of racing, the 1980's isn't it. I think early 70's and before. Would much rather look at those numbers.

[Danzig]

Originally Posted by randallscott35

Why 1983?

Maybe because that was the exact bottom of the last recession that compared to the one we just went through? Is he using CPI for his inflation adjustment? That basket has changed as well since the 1980's.

Racing is far from death. The idea, however, that someday we will have 50 people at Belmont and our handle will be surging just doesn't make sense. And even after his inflation adjustment, that uses suspect and cherry picked dates, there is little if any growth in 30 years....Mind you when I think about the glory days of racing, the 1980's isn't it. I think early 70's and before. Would much rather look at those numbers.

why 1983? maybe because it's exactly 30 years ago? not sure why you think it's suspect or cherry picked.

but he's right, the tracks need to explore ways to take care of their off-track customers, lest they end up in the same mess as the usps for example.

[freddymo]

Originally Posted by Kasept

Terrific piece..

http://www.washingtonpost.com/sports...9_story_1.html

In 1983, when the Belmont grandstand with bustling with activity, the average daily betting at the summer meeting was $3.46 million. Adjusting for inflation over three decades, that amount is the equivalent of $8.12 million today.

At the Belmont summer meeting of 2013, wagering averaged $10.1 million per day — exceeding the figures from the supposed good old days

So do you make more GP type tracks? Small, nice back stretches, poker rooms, small grand stands, and effectively vessels for simulcasting? I like the piece and agree with much of it,but is the future, tracks which look like pop up stores?

[randallscott35]

Originally Posted by Danzig

why 1983? maybe because it's exactly 30 years ago? not sure why you think it's suspect or cherry picked.

but he's right, the tracks need to explore ways to take care of their off-track customers, lest they end up in the same mess as the usps for example.

Of course it is cherry picking. That's the beauty of statistics, you can show what you want in some respects. That's where spin comes in. So what it is 30 years, he chose a specific year. That's his right, God bless him and some of what he says is very accurate with regards to offtrack handle...I just don't think the numbers are that sexy to begin with.

2% inflation over 30 years is a doubling. And that's just inflation. Inflation is not growth. So let's hope they were at least able to tread water.

[jms62]

Originally Posted by randallscott35

Why 1983?

Maybe because that was the exact bottom of the last recession that compared to the one we just went through? Is he using CPI for his inflation adjustment? That basket has changed as well since the 1980's.

Racing is far from death. The idea, however, that someday we will have 50 people at Belmont and our handle will be surging just doesn't make sense. And even after his inflation adjustment, that uses suspect and cherry picked dates, there is little if any growth in 30 years....Mind you when I think about the glory days of racing, the 1980's isn't it. I think early 70's and before. Would much rather look at those numbers.

A long long time ago you had to show up on the steps of the New York Stock exchange in order to buy stock. My how times have changed.

[Danzig]

Originally Posted by jms62

A long long time ago you had to show up on the steps of the New York Stock exchange in order to buy stock. My how times have changed.

[Sightseek]

Originally Posted by freddymo

So do you make more GP type tracks? Small, nice back stretches, poker rooms, small grand stands, and effectively vessels for simulcasting? I like the piece and agree with much of it,but is the future, tracks which look like pop up stores?

Perhaps its the area, but I much prefer GP's (and Delaware) racino style to Parx, Penn or CT. GP has less of a "oh yeah, we do racing too" feel than the others where the racing is pushed into the back of the building. If you wander about GP and Delaware -- you're at least going to see the racing.

I drove up 95 this weekend -- a million billboards for the casinos, nothing for the racing.

[Cannon Shell]

Originally Posted by Kasept

Terrific piece..

http://www.washingtonpost.com/sports...9_story_1.html

In 1983, when the Belmont grandstand with bustling with activity, the average daily betting at the summer meeting was $3.46 million. Adjusting for inflation over three decades, that amount is the equivalent of $8.12 million today.

At the Belmont summer meeting of 2013, wagering averaged $10.1 million per day — exceeding the figures from the supposed good old days

The only issue I have with the number comparison is that in 1983 there wasn't a wide network of simulcasting like there is now. I'd be willing to bet that 95% of that 1983 handle came from NYS only. Of course the counter is that in 1983 NYC OTB was doing a ton of handle and this year has done zero.

But his point that racing at least in NY isn't dead is spot on

[parsixfarms]

Originally Posted by Kasept

Terrific piece..

http://www.washingtonpost.com/sports...9_story_1.html

In 1983, when the Belmont grandstand with bustling with activity, the average daily betting at the summer meeting was $3.46 million. Adjusting for inflation over three decades, that amount is the equivalent of $8.12 million today.

At the Belmont summer meeting of 2013, wagering averaged $10.1 million per day — exceeding the figures from the supposed good old days

Generally, I think the article is on point. However, because of the disparity in the track's take from an on-track dollar versus that from an off-track dollar, the highlighted comparison is less compelling from a revenue standpoint; that disparity is still something that the industry needs to address.

[blackthroatedwind]

You guys are missing the point. We understand that the customer is more widespread.....and that's the point. We have many more customers now, as opposed to what too many uninformed people are saying.

[tector]

Originally Posted by Sightseek

Perhaps its the area, but I much prefer GP's (and Delaware) racino style to Parx, Penn or CT. GP has less of a "oh yeah, we do racing too" feel than the others where the racing is pushed into the back of the building. If you wander about GP and Delaware -- you're at least going to see the racing.

I drove up 95 this weekend -- a million billboards for the casinos, nothing for the racing.

Whatever you want to say about GP, they serious about the racing. Whether that attitude will outlast old man Stronach is an open question.

[joeydb]

Originally Posted by Sightseek

Perhaps its the area, but I much prefer GP's (and Delaware) racino style to Parx, Penn or CT. GP has less of a "oh yeah, we do racing too" feel than the others where the racing is pushed into the back of the building. If you wander about GP and Delaware -- you're at least going to see the racing.

I drove up 95 this weekend -- a million billboards for the casinos, nothing for the racing.

Delaware is a good track. I go there often. I haven't been to Parx in years.

[tanner12oz]

People simply do stuff differently now...its like saying the movie industry is down because people don't buy videos anymore...the times have changed and as much as I would like to see track attendance high the industry won't take notice till handle goes down the toilet...the problem going forward though is because the new customer isn't being groomed the handle will ultimately die along with the customer base...the time to groom is now while we still have fans with a pulse...gotta toward think