The Three Bandits

[Miss Woodford]

You are forgetting one big difference-parimutuel betting. The majority of wagering goes directly to the track, plus tracks generally have a "takeout" of 16-20% of all money won, more for exotic wagering. Betting went up massively since the advent of vertical (exacta, trifecta, superfecta) and horizontal (Daily Double, Pick 3, Pick 4, Pick 6) wagering, plus the carryover of Pick 6 jackpots that rolls into the next day when no one picks the 6 races correctly.

But the real reason why many American tracks offer such big purses is slot machine money, which keeps some tracks ("racinos") afloat. For example, here’s an overview of this Saturday’s cards at two tracks often considered to have some of the cheapest and slowest horses this side of the Mississippi.

Beulah-no casino
Race 1 – 1:15 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta / Daily Double Pick 3 (Races 1-2-3)
MAIDEN CLAIMING $4,000

Purse $3,700. For Maidens, Fillies And Mares Three Years Old And Upward.

Race 2 – 1:43 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta / Pick 3 (Races 2-3-4)
CLAIMING $2,500

Purse $3,500. For Fillies And Mares Three Years Old And Upward Which Have Not Won A Race In 2009-2010.

Race 3 – 2:11 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta / Pick 3 (Races 3-4-5) 25 Cent Fortune6 (Races 3-8)
MAIDEN CLAIMING $2,500

Purse $3,400. For Maidens, Three Years Old And Upward.

Race 4 – 2:39 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta / Pick 3 (Races 4-5-6)
ALLOWANCE

Purse $8,350. (Includes $1,650 – OTF – Ohio Thoroughbred Fund). For Registered Ohio Bred Fillies And Mares Three Years Old And Upward Which Have Never Won Two Races Other Than Maiden, Claiming Or Starter Or Which Have Never Won Three Races.

Race 5 – 3:07 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta / Pick 4 (Races 5-6-7-8)
CLAIMING $3,500

Purse $4,100. For Fillies And Mares Three Years Old And Upward.

Race 6 – 3:35 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta / Pick 3 (Races 6-7-8)
CLAIMING $4,000

Purse $3,900. For Fillies And Mares Three Years Old And Upward Which Have Never Won Two Races.

Race 7 – 4:03 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta / Daily Double
CLAIMING $2,500

Purse $3,500. For Three Year Olds And Upward Which Have Never Won Three Races.

Race 8 – 4:31 PM Exacta / Trifecta / Superfecta & 10 Cent Superfecta
CLAIMING $2,500

Purse $3,500. For Three Year Olds And Upward Which Have Not Won Three Races In 2009-2010 Or Which Have Never Won Four Races.

Charles Town, a racino
Race 1 – 7:15 PM Daily Double (1-2) / Pick 3 (Races 1-2-3) / Exacta / Trifecta ($.50) Superfecta
CLAIMING $5,000 – $4,500

Purse $12,000. For Fillies And Mares Four Years Old And Upward Which Have Never Won Two Races.

Race 2 – 7:39 PM Pick 4 (Races 2-3-4-5) / Exacta / Trifecta / ($.50) Superfecta Daily Double (2-3)
MAIDEN CLAIMING $5,000 – $4,500

Purse $11,000. For Maidens, Four And Five Years Old.

Race 3 – 8:03 PM Pick 3 (Races 3-4-5) / Exacta / Trifecta / ($.50) Superfecta Daily Double (3-4)
CLAIMING $5,000 – $4,500

Purse $12,000. For Fillies And Mares Four Years Old And Upward Which Have Never Won Three Races.

Race 4 – 8:27 PM Exacta / Trifecta / ($.50) Superfecta / Daily Double (4-5)
CLAIMING $5,000 – $4,500

Purse $11,000. For Fillies And Mares Four Years Old And Upward Which Have Not Won A Race Since August 16, 2009.

Race 5 – 8:51 PM Pick 3 (Races 5-6-7) / Exacta / Trifecta / ($.50) Superfecta Daily Double (5-6)
MAIDEN SPECIAL WEIGHT

Purse $28,000. For Accredited West Virginia-Bred Maidens, Fillies And Mares Four And Five Years Old.

Race 6 – 9:15 PM Pick 4 (Races 6-7-8-9) / Exacta / Trifecta / ($.50) Superfecta Daily Double (6-7)
CLAIMING $5,000 – $4,500

Purse $11,000. For Four Year Olds And Upward Which Have Not Won Two Races Since August 16, 2009.

Race 7 – 9:39 PM Pick 3 (Races 7-8-9) / Exacta / Trifecta / ($.50) Superfecta Daily Double (7-8)
STARTER ALLOWANCE $5,000

Purse $22,000. For Four Year Olds And Upward Which Have Started For A Claiming Price Of $5,000 Or Less Since January 16, 2008.

Race 8 – 10:03 PM Daily Double(8-9) / Exacta / Trifecta / ($.50) Superfecta
ALLOWANCE

Purse $29,000. For Three Year Olds Which Have Never Won Three Races.

Race 9 – 10:27 PM Exacta / Trifecta / ($.50) Superfecta
CLAIMING $5,000 – $4,500

Purse $12,000. For Four Year Olds And Upward Which Have Never Won Two Races.

At Beulah, purses are less than the claiming price, while at CT they are more than double the claiming price. Now, none of these horses are probably up to the level of even Southwell nags (although some of them once were), but even in this age of declining wagering both sides of the Atlantic, one track is "thriving" while the other is on the verge of closing. All because of slot machines.

Incidentally, the year before slots were introduced, 1992, the biggest stakes purse at Charles Town was around $50,000. This year is the second running of the Charles Town Classic with a million-dollar purse, in addition to two other $500,000 stakes, a $400,000 stakes, and several $250,000 stakes. That’s Santa Anita, Saratoga kind of money, for relatively slow horses.

[Maxilon 5]

Miss Woodford, I’m not forgetting it at all. Unfortunately, we went the bookmaker route in 1963 and we’re reaping the bitter harvest of that decision now.

However, we do still have a strong interest in horse racing as a nation. Racecourse attendances actually rose last year. My argument is that no matter the Levy, it makes good sense to double prize money at the bottom of the ladder in order to to encourage participation. Throwing money at Group Ones is irrelevant because each extra pound doesn’t bring an extra pounds worth of utility. It does in a Class 6.

BTW, I’ve raced at Charlestown. Loved it.

[Mounty]

Bruce Jackson -RP
4:29pm
On the case
There’s a bookies’ match bet with a difference in the next. It’s in-house at Corals with PR Simon Clare, part-owner of Reigning Monarch, revealing there is a case of "nice wine" (Sancerre) with his colleague James Knight .

Did anyone from Betfair turn up with an outstretched empty glass asking for "premium charge"?

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