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Showing posts with label betting on standardbreds. Show all posts
Showing posts with label betting on standardbreds. Show all posts

Friday, October 23, 2009

Commentary on Interview with Ron Pierce, urging rule

In a revealing and insightful interview with Standardbred Canada's Trot Insider, top harness racing driver Ron Pierce provides heartfelt and worthy reasoning on historical whipping rules versus the wider-ranging set of regulations out there now. I will present some of his words with commentary, then discuss how these rules help us protect the downside, and finish with a world of opportunity for standardbred racing fans, handicappers, breeders, owners, trainers, drivers and industry folk.

Ron Pierce discusses new urging rules with Trot Insider

"I've been driving horses for 33 going on 34 years now and it is our job to know how to make horses go fast. Now, all of a sudden, they take that away from us, and now we have to learn how to make horses go fast all over again. I feel along with all the other top drivers -- except for maybe one or two…maybe just one -- that it puts us in a dangerous situation out there. I mean, there are a lot of loose lines out there now. It is just a matter of time before a horse trips because of a loose line and a driver isn't able to pick him up in time, and I think it is going to cause a serious crash.


"I think if a driver could talk to a horse after he races -- even after say the driver was licking on him pretty good in the lane -- and the driver could ask him what hurts, the horse would probably say that his feet are stinging him really badly after having raced on a hard track; or that its upper back hurts because the bike puts too much pressure on it; or that its knees are really stiff. I think the last thing that horse is going to complain about is that whip. I really don't think the horse would say, 'my side hurts from the guy hitting me,' or 'my back hurts from that guy hitting me.'"

Trot Insider asked Pierce if the urging clampdown is going to have a positive effect on the industry going forward

"I believe that it is not going to help us one bit," Pierce said. "It's great for mommy who brings her little girls down to the grandstand to watch her horses race, but for the gamblers -- the people who are our bread and butter -- we are losing them every day. Before the slots came [the gamblers] were all we had to live on, the people who came to bet on us. They are going elsewhere. It is just going to hurt us, and hurt us, and hurt us.

"What are we going to do when we don't have slots? If we don't have the gamblers and then we don't have the slots, it will just be a matter of time before we don't have racing."

- Ron Pierce, Interviewed by Trot Insider


Full article about whipping rules, Ron Pierce

I understand that many will just view this above pessimism as realism, but it is in fact the former. The loose lines are something that has to be dealt with, but the industry is not on the ropes to the degree portrayed in the last paragraph. I used to be an investment advisor and my biggest job, other than ensuring client diversification and quality of investments, was to help them fight their emotions. I'd say, next time the market is down 30% and you wfeel like you want to sell everything, call me and say Joe, what should we buy? And if the market is up 20% in seven months, maybe call and ask if we should rebalance something that just rose with the tide but wasn't really outperforming. I know I digress, but just keep in mind that the darkest hour is right before the dawn.

First, let's talk about downside protection. Even though race horses are probably the best treated mammals on the planet, getting better round-the-clock care than virtually all other domesticated creatures, possibly excepting dogs and cats though not necessarily so, standardbred horse racing is an exciting public event and so must be aware of the times. Decisions are not always made by people who live with and understand animals, so there is an aspect of transition that is inevitable. Younger drivers will be more used to the new rules and more consistent under them, as will younger horses. Some old horses may not go as fast but who is to say they would have stayed as sound? There's always another side to things that needs to be looked at.

Dog tracks have been closed down because of outside pressure, and though that is not the fate of the Sport of Kings, dwindling attendance at some tracks must be addressed. First of all, we haven't lost all of the gamblers, but have experienced a diminishing market share in a rapidly expanding gambling market, particularly among those under 30 years of age.

More input from horsemen, on a regular basis, is required on the urging issue, and the loose lines issue, but all horsemen must come to understand that there must not only be the appearance of improved rules, but they should exhibit more care and respect for the animals in the industry. Even though 99.9% of the time nothing untoward ever happens, it's because of the whipping rules that drivers are kept in line. Things must be kept in perspective, however, as there is a strong argument that in the Trevor Ritchie disqualification case, bettors and the horses owner were unfairly penalized for a minor infraction. Perhaps a warning or a warning and a fine for first violation, and fine and disqualification for 2nd violation (in trailing 18 months). Here we are not talking about excessive whipping that is alreadsy covered under the previous rules, but rather minor infractions from new rules.

So let's start talking about the many opportunities for harness racing to bottom out the handle and begin growing the industry again.

Celebrate Somebeachsomewhere and Muscle Hill


Yearling prices are firm in 2009 during a year of great economic tumult, and in Kentucky the median price at the standardbred sale was higher than that of the thoroughbreds, possibly for the first time ever.

Gambling is more socially acceptable than ever. When i was a child, horse racing was the only legal game going but that all changed with the massive debt of the Montreal Olympics, which launched LotoCanada and it was all giant downhill from there. Our handle has been dropping in recent years and market share for even longer. First it was lotteries and the NFL, now it is poker and slot machines. I don't have Ron's negative attitude about the slots. I believe they have kept harness racing and breeding healthy in troubled times because of the symbiotic nature of the industries. Most small casinos can't get the big name talent that Casino Rama gets, but if they can get a racetrack involved...

Our relationship with hockey can be deepened, as major harness tracks are usually close to thriving hockey markets. Hundreds of young standardbreds are named after Beatles songs and other classic rock tunes yet the harness racing industry has barely scratched the surface of co-branding and promotional opportunities with bands and artists. It doesn't always have to be a big show, it can be an indoor acoustic performance and an autograph signing, let's be creative here.

An upside of the new urging rule is greater potential for headcams, a la Nascar and Formula One. If the morning line favorite and fifth favorite were each required to have a driver wearing a helmet camera, some incredible imagery would be emerging on a daily basis. View the cleaning up of the homestretch as preparation for headcams, instant replays, highlights and video games and you are now understanding where the second and third decades in the first half of the twentieth century will take us.

We need a Canadian Harness Racing Channel, and a USA Harness Racing Channel. We can benefit from handicapping teams representing different tracks, possibly even some sponsored by larger farms, in league style play, with playoffs. More handicapping tournaments are required, for both individuals and teams, and we can learn a lot from the various poker formats.

The Internet is the future; note the new October 2009 Betfair deal with Breeders Cup as harbinger of better times ahead for us, mark my words.

Friday, September 4, 2009

Winning Exactor Strategy Part 2; Harness Race Wagering

To recap where we left off:

Keep in mind that the first step is to consider the M/L fave as the 1, the 2nd fave as the 2, the 3rd fave as the 3 etc.

A - $1 EX 1234 with 5678 = $16
B - $1 EX 5678 with 123 = $12

Total Wager per selected race = $28
Maximum wager per card = $56

A gives us the faves over longshots, B gives us the faves underneath.

Implementation: We will be looking for the first two races with a favorite at 5/2 or higher and an eighth fave with a M/L of 10-1 or less.

As there are 5 eligible races tonight at Mohawk and the system only allows for the first two to be played, we will try comparing a second set of rules and see which outperforms in coming days. The above methodology will now be called EX SYS ONE, and the second set of rules below will be EX SYS TWO:

Exactor System Two

When 3 or more races fit the criteria of EX SYS ONE, from 3 to 5 races will be played (if more than five, the first five on the card will be played), with a slightly smaller field, essentially giving up many tickets with 3 and 4 in them to retain 5, 6, 7 and 8th contenders showing up in the top two.

SYS TWO A - $1 EX 123 with 5678 = $12
SYS TWO B - $1 EX 5678 with 12 = $8

Total Wager per selected race = $20
Maximum wager per card = $100

Now we will compare the results of EX SYS ONE versus EX SYS TWO at Mohawk Raceway during the exciting days of harness racing coming up this September, and we will carry on the work as the horses move to Woodbine Racetrack in the autumn.

RESULTS:

Playable races were 2, 7, 8, 9, 10

Race 2 6/10 = 5 with 2 pays 88.50 = 44.25 SYS ONE / SYS TWO

Race 7 6/7 = 2 with 4 pays 42.50 = 0.00 SYS ONE / SYS TWO

SYS ONE Total wager $56, total win 44.25 = - $11.75

Race 8 8/5 = 4 with 8 pays 77.90 no win

Race 9 9/5 = 4 with 1 pays 18.70 no win

Race 10 7/5 = 7 with 3 pays 88.10 no win

SYS TWO wager 100, total win 44.25, loss 55.75

Winner of round one is SYS ONE with a loss of $11.75, and if the full $28 SYS ONE wager was made on each of the 5 races, wins in races 2, 8, and 10 would have totaled $127 versus a 140 bet, still a better return than SYS TWO on opening night, down over half.

Early days... let's throw a SYS THREE in right now:

SYS 3 A - $1 EX 234 with 5678 = $12
SYS 3 B - $1 EX 567 with 123 = $9

Total Wager per selected race = $21
Maximum wager per card = $105

Tonight the $105 would have won race 2, race 8 and race 10, with a small profit of 127 minus 105, or $22.

Saturday, June 6, 2009

Standardbred Marketing; NEW FOCUS for HarnessHorses.info

Well kids, it's time we take a long look at the game and find ways to make it more attractive to sporting fans, the general public, and young people in particular. Handle is up on a per race basis in 2009 (Canadian data), but with less races it's working out to a wash, so far.

I invite readers to post any ideas they may have on improving the racing, the betting products, and the marketing and promotion methods used to bring people to the races.

Here are a few ideas to get the ball rolling:

#1 - Pick Six with guaranteed payout, plus 5 of 6 payout

Guaranteeing a minimum pool of $15,000, $25,000 or whatever amount is suitable for the track and card in question entices players into taking a shot at a big win, much as lottery sales go up when the grand prize is large.

Paying out a portion of the winnings to those who picked 5 of 6 creates a far greater pool of winners. Progressive tracks are already implementing these types of bets, and we'd love to have someone from one of these tracks post some before and after numbers.

Another innovation is offering a smaller takeout (eg. 15%) from the Pick 6 being promoted, a clear sign to bettors that this promotion is really worth participating in.


#2 - Promote Alliances with Other Sports

As much of the North American harness racing industry is located in the Northeast, it's not surprising that the most successful racetracks are located near NHL hockey hotbeds like Toronto, New York, Chicago, Philadelphia etc.

Here are ideas for promotions tied to other sports:

A - XYZ Hockey Team Night

2 local hockey stars plus 3 top drivers will be available for signing autographs and all season ticket holders will mailed invitations with betting vouchers and food coupons.

B - Golfers Night

The members of all top local courses will be invited out for an evening at the track, with door prizes and draws for golf clubs, plus weekend and week long golfing trips.

C - Softball League Night

If there are a number of softball leagues within reasonable driving distance of your track, create a fun night with lots of incentives and you'll get some brand new mailing lists from the league managers, and find some new lifetime fans.



#3 - The Helmet Cam

Until we get microphones and cameras on driver's helmets, we won't have full entered the 21st Century. There will be some controversy about whipping, but a bright light will cause offenders to think twice and also to be easily proven guilty, so in addition to adding more excitement to for television and Internet viewers, helmet cams may also reduce any unnecessary or abusive whipping.



#4 - Lottery-style Betting Cards

I think it would be fantastic if I could just drop by the local variety store and place a horse racing card in the lottery machine, and walk home with a triactor box and a superfecta box, but first we need to take some baby steps. Let's create these machines for use at tracks and off-track locations first, then after we've proven the technology is proven and live, we can push for having them located in more gambling (eg. casinos) environments and eventually, the OLC chain of distributors (Ontario Lottery Corp).

If any company is interested in a test-run of this type of betting methodology, I have designed some prototype cards and systems and am available for consulting on how these can be integrated for multi-track usage.

Readers are invited to post any proven promotional ideas, plus suggestions for new directions in racing, wagering, marketing and sales.

Let's get to it!

Joe Trainor
Toronto, Ontario

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