Value Tech Blog

Good for Hoosier Park. The new facility looks beautiful and modern!

Hoosier Park Invests $3M in OTB Experience | BloodHorse.com
http://www.bloodhorse.com/horse-racing/articles/66704/hoosier-park-invests-3m-in-otb-experience

Hoosier Park Racing & Casino has invested $3 million in a new off-track wagering facility designed to attract a broader range of customers in downtown Indianapolis.

The “Winner’s Circle Pub, Grille & OTB” replaces the outdated Trackside Indianapolis facility launched by Churchill Downs Inc. when it owned Hoosier Park in the 1990s.

Hoosier Park is one of a handful of racetrack operators investing in the OTB experience at a time when bettors are being steered to wager online.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

Talk about closing the barn door after the horse has escaped. This is outrageous, and will be detrimental to the confidence of bettors.

NYRA Lowers Exotics Takeout After Overcharge | BloodHorse.com
http://www.bloodhorse.com/horse-racing/articles/66682/nyra-lowers-exotics-takeout-after-overcharge

The New York Racing Association has lowered the pari-mutuel takeout rate for several wagers after having overcharged bettors for more than a year.

NYRA announced Dec. 21 it would lower the rate on trifecta, superfecta, Grand Slam, Pick 3, Pick 4, and Pick 6 wagers by two percentage points to 24%. NYRA said the action will “correct an unintentional oversight” by which the takeout rate for exotic wagers was one point above the statutory limit.

According to published reports bettors should have received an additional $8.6 million for the period.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

Absolutely outrageous, grossly negligent misconduct here.  And for this of you ValueCappers who struggle with exotic bets, take a look at those takeouts, and you’ll understand what you’re up against. 

Board says NYRA overcharged customers millions in 2010 – Thoroughbred Times

http://www.thoroughbredtimes.com/national-news/2011/12/21/nyra-overcharged-customers-millions-in-2010.aspx

New York Racing Association bettors who thought payouts were coming back a little short in 2010 were not paranoid.

NYRA said it unintentionally overcharged bettors millions of dollars in the past 15 months. The issue was addressed at Wednesday’s New York State Racing and Wagering Board meeting.

Racing officials said they discovered that NYRA was overcharging bettors 1% in exotic wagers, including the pick six (on carryover days), pick three, pick four, Grand Slam, trifecta, and superfecta wagers. The takeout rates for those wagers were supposed to be 25% since September 15, 2010 but the racing association continued to charge the previous 26% rate.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

Good news from Northern California. 

Golden Gate Fall Meet On-Track Averages Jump | BloodHorse.com
http://www.bloodhorse.com/horse-racing/articles/66676/golden-gate-fall-meet-on-track-averages-jump

Golden Gate Fields reported Dec. 21 that the Northern California track enjoyed double-digit percentage increases in daily on-track handle and on-track attendance during the 2011 fall meeting. The meet ran for 36 days from Oct. 20 through Dec. 18, six fewer days than in 2010.

The average daily on-track handle during the 2011 fall meeting was $392,821, up 13.86% over the 2010 daily average of $344,994. Total on-track handle at the 2011 fall meeting was $14,141,548, just $348,199 less (-2.4%) than the $14,489,747 wagered during the longer 2010 fall session.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

Also eligibles in the Preakness as well as the Derby…

Preakness to join Derby in allowing also-eligible list
http://www.thoroughbredtimes.com/racing-news/2011/12/20/preakness-also-eligible-list.aspx

The Preakness Stakes (G1) will include an also-eligible list for the first time when it is contested in 2012. The Maryland Jockey Club on Tuesday approved the addition of a two-horse also-eligible list for the Baltimore classic, the second jewel in the U.S. Triple Crown. The decision comes just days after Churchill Downs decided to include a list of up to four also-eligible horses for the 2012 Kentucky Derby…

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

The bigger the fields, the more potential for value. I’m not sure about the lottery terminals as the source, and whether that’s a good idea, but larger field sizes?  Very good for the bettor. 

NYRA Tracks Could Have Bigger Field Sizes | BloodHorse.com
http://www.bloodhorse.com/horse-racing/articles/66645/nyra-tracks-could-have-bigger-field-sizes

The New York Racing Association predicted the size of fields at its tracks could grow by an average of one-half to one horse per race in the coming year thanks to higher purses from the new video lottery terminal casino at Aqueduct.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

Finally, good news from Hollywood!

Hollywood Park Reports Handle Up 13.8% | BloodHorse.com
http://www.bloodhorse.com/horse-racing/articles/66639/hollywood-park-reports-handle-up-138

Hollywood Park reported increases in field size and handle during its 26-day Autumn meet, which ended Dec. 18.

The handle on races run at Hollywood Park was up 13.8% to $151,319,791 compared to $132,933,380 during a comparable six-week period in 2010. The fall meet last year began one week earlier and included two days of Breeders’ Cup World Championships simulcasts. The track reported the average daily live race handle increased by 9.5% but did not supply the actual figure.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

Great. Now handicappers will most likely have to consider 24 horses in projecting pace scenarios. And then depending on which AEs get in, redoing the work.  

Also-eligibles to be allowed for Kentucky Derby – Horse Racing – MiamiHerald.com
http://www.miamiherald.com/2011/12/16/2549477/also-eligibles-to-be-allowed-for.html

Three-year-olds that do not make the initial field for the Kentucky Derby will be allowed to remain possible for the race as “also-eligibles.” The same policy holds for the Derby’s sister race, the Kentucky Oaks.

Churchill Downs, home of the Kentucky Derby, announced Friday that up to four additional horses will basically be on standby should there be scratches from either race. The field for the Derby is limited to 20 and 14 for the Oaks.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

This will only increase transparency in the industry and make rulings easily accessible. The Jockey Club and ARCI should be commended. 

Public Database of Trainer Rulings Launched
http://www.bloodhorse.com/horse-racing/articles/66619/public-database-of-trainer-rulings-launched

The Jockey Club and Association of Racing Commissioners International have joined forces on a searchable online database of regulatory rulings for Thoroughbred trainers.

Thoroughbred Regulatory Rulings, which is accessible at thoroughbredrulings.com, stemmed from recommendations in this year’s report by McKinsey & Company on sustaining growth in Thoroughbred racing.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology

Maryland Jockey Club unveils 2012 Preakness logo – Thoroughbred Times
http://www.thoroughbredtimes.com/national-news/2011/12/14/maryland-jockey-club-unveils-2012-preakness-logo.aspx

The Maryland Jockey Club on Wednesday unveiled the 2012 Preakness logo for the 137th running of the Preakness Stakes (G1), the middle jewel of the Triple Crown, which is set for May 19, 2012, at Pimlico Race Course.

Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology