Monmouth Park Week 2 Handle up 122%

[CharlieR]

http://monmouthpark.com/news.aspx?id=3019

From Monmouthpark.com

OCEANPORT, N.J. – Following Monday’s Memorial Day card, handle for the holiday weekend at Monmouth Park totaled $24,912,191 a 122% increase over last year, when $11,222,330 was wagered.

Total attendance for the 3-day weekend was 38,543, a 15.5% increase over 2009, as on-track handle came in at $2,925,073, a 44% increase.

We were in the picnic area at Monmouth on Sunday and it was packed. Great weather, nice day out with the family and broke even on the day!

[ateamstupid]

But what was Belmont's ontrack handle?

[randallscott35]

Looks like handle will be up more than 30%.

[CSC]

Originally Posted by ateamstupid

But what was Belmont's ontrack handle?

Why do we always have to compare it to Belmont's handle, the fact is whatever Monmouth is doing is working. If both are healthy who cares which handle is higher.

[philcski]

Originally Posted by randallscott35

Looks like handle will be up more than 30%.

Nope. Can't happen. 15% would be nearly unattainable.

[CSC]

Originally Posted by HomerS

What is your definition of working?

If the only goal here is to increase handle from last year it is definitely working. No ifs ands or buts

But idea here is to have a sustainable business model. To stay in business.

Is current handle sufficient to cover the higher purse payouts? That is the question and answer is clearly no not now. Handle needs to be significantly higher

As far as comparing to Belmont it is next door, dealing with same demographics. If Belmont is generating higher handle and paying out less in purses that tells us something.

Its about sustainable business models. Not short term thinking thats how we are where we are

Understand its a last desperate effort. And am pulling hard for it to work. Going to enjoy betting it all summer.

But trying to be realistic here.

Maybe I should have wrote a preamble, for me it has been working. Larger fields, large purses, higher profile connections, big name Jocks, I am speaking on behalf of myself that never paid much attention to Monmouth in the past, now it has atleast gotten my attention and from what I have seen early on, I will concentrate more plays there. It's no different than going to a buffet, all bettor's want are more choices.

[ateamstupid]

Originally Posted by CSC

Why do we always have to compare it to Belmont's handle, the fact is whatever Monmouth is doing is working. If both are healthy who cares which handle is higher.

My feelings exactly.

[randallscott35]

Originally Posted by ateamstupid

My feelings exactly.

Are they both healthy though?

[randallscott35]

This is an overall industry health issue. This has little to do with NY or NJ or anyplace else...Just to be clear.

[dalakhani]

Originally Posted by HomerS

What is your definition of working?

If the only goal here is to increase handle from last year it is definitely working. No ifs ands or buts

But idea here is to have a sustainable business model. To stay in business.

Is current handle sufficient to cover the higher purse payouts? That is the question and answer is clearly no not now. Handle needs to be significantly higher

As far as comparing to Belmont it is next door, dealing with same demographics. If Belmont is generating higher handle and paying out less in purses that tells us something.

Its about sustainable business models. Not short term thinking thats how we are where we are

Understand its a last desperate effort. And am pulling hard for it to work. Going to enjoy betting it all summer.

But trying to be realistic here.

If handle isnt sufficient to cover purses where do we go then next year? Will people assume, based on this years handle that they would get same results with $350-$400k in purses? What is the backup plan?

Homer-

Do you really think thats true? I remember monmouth being over an hour away from new york city but i could be wrong. That being the case, wouldnt that change things a little?

Also, in terms of "sustainable business models" as you put it, which track/circuits work beside the ones that are supplemented by slots?

I think what Monmouth is doing is part of the future of the sport. The bigger, deeper fields with higher purses makes a lot more sense on many levels than the way Belmont or Hollywood park does it.

The traditional model for horse racing as a self sustaining business is broken. The world has changed. Entertainment options both sporting or otherwise have grown exponentially since the heyday of the game. Randall hit it right on the head. These problems that you are speaking of are industry issues.

[dalakhani]

Originally Posted by HomerS

Yes think its same general demographic

It is an hour away.

Both are drawing from wealthy customers with disposable income

NJ and NYC very similar in alot of ways

Comparing Mon to Bel not like comparing Belmont to Praire Meadows

Diverse ethnic places with above average income

Understand south Jersey more tied to Philly

Belmont is located within train or cab distance from the richest and most powerful people in the world.

Monmouth is in New Jersey.

Now, do you really want to go into the differences? In terms of accessiblity alone, we are talking about different planets.

[hockey2315]

Originally Posted by dalakhani

Belmont is located within train or cab distance from the richest and most powerful people in the world.

Monmouth is in New Jersey.

Now, do you really want to go into the differences? In terms of accessiblity alone, we are talking about different planets.

This is worthless on several levels.

[randallscott35]

Let the good times roll.

Monmouth Park | Posted 6/1/2010, 5:13 pm
Monmouth business booming
By Matt Hegarty
Betting and attendance figures for the first five days of the Monmouth Park meet have far exceeded the expectations of the track's operator and the racing officials who supported the adoption of an experimental 50-day meet guaranteeing $1 million in average purse distribution per day, the racing officials said.

Over the first five days, average handle has been $8,263,283 per card, up 162 percent compared to the total average for a 93-day meet last year and up 122 percent compared to the handle on corresponding dates last year, according to figures supplied by Monmouth and on race charts. Average attendance is up 86 percent, while field size has increased by nearly two horses per race, from 7.5 last year to 9.4 this year.

[Revidere]

Originally Posted by dalakhani

Belmont is located within train or cab distance from the richest and most powerful people in the world.

Monmouth is in New Jersey.

Now, do you really want to go into the differences? In terms of accessiblity alone, we are talking about different planets.

Checking out after this display of brilliance.

[10 pnt move up]

Crist goes to great efforts to compare Monmouth to Belmont again in his blog, in a negative light IMO, it escapes me why he chooses to do so other than personal bias. There is no logical comparison or reason to make such. The article is clearly to show how superior a choice Belmont is despite Monmouths best effort, which is irrelevant to anything as a horse player. The only comparison should be previous Monmouth meets. The new product that New Jersey has provided the better has led them to wager more money into the pools.

[dalakhani]

Originally Posted by Revidere

Checking out after this display of brilliance.

considering source

[philcski]

Originally Posted by Cardus

HomerS has an unusual style, but his posts' substance is terrific.

Yes... reading his posts, sometimes I forget punctuation exists in the English language.

[Revidere]

Originally Posted by dalakhani

considering source

Excellent consideration since I live in Monmouth County and was at Belmont yesterday !!

I am neither rich, nor powerful. Might have been a little richer if they took Maylan down yesterday in the 6th.

[dalakhani]

Originally Posted by Revidere

Excellent consideration since I live in Monmouth County and was at Belmont yesterday !!

I am neither rich, nor powerful. Might have been a little richer if they took Maylan down yesterday in the 6th.

It was a playful jab at the garden st. I apologize. My point stands that the demographics are different.

Of course new yorkers go to Monmouth but it's not the same as going to elmont. I'm not going to rip nj but let's not pretend that it is a simple choice as if it were like going to the meadowlands.

To use another sport as comparison, the orioles and nationals are closer together than Monmouth and Belmont. Anyone in our area will tell you that the demographics for the o' and nats are completely different. Same way in football.

Do pimlico and Charlestown have the same demographic? Yeah some of the same people go to both but they are different markets.

Let's not act like Monmouth is the 6th borough.

[MaTH716]

Originally Posted by HomerS

No, not considering Monmouth to be NYC suburb. But also not Cherry Hill or Cape May.

Plenty of people in that area commute into NYC every day. As we unfortunately saw on 9-11.

Monmouth doesnt have the brand recognition of NYRA tracks which is part of reason for handle discrepancy. I think they have a good brand, been underappreciated over the years. This year should only improve it.
People have discretionary income. Clearly alot of choices if you live in tri state area.

Look at Belmonts attendance. That is a shame. Put aside problem with current cards, even when they were putting out great quality racing people just do not show up in person there. They are missing out its a beautiful track. But they do get a lot of betting.

Monmouth has alot of two dollar bettors. Not that there is anything wrong with that. They just need to get more business from the heavier hitters.

Cardus- thank you

I don't think Monmouth was underappreciated, it had to do with racing product that Monmouth gave us just not being very good. But the $2 dollar bettors (as you call them) just doesn't know the difference. They are there just to enjoy a day out at the track.

As far as attendence goes, it really doesn't matter as long as people are betting on the races from somewhere. Sure it would be nice if Belmont (or all tracks for that matter) drew big crowds on a daily basis. But there is alot of different entertainment options that Belmont is up against being in the biggest market in the world. I do also think logistics hurts Belmont with their attendence numbers, it's just easier to bet from your house or the local OTB. From many parts of the city/boroughs, Belmont is a gigantic pain in the ass to get to and from. I have to admit, that I used to live about the same distance between Monmouth and Belmont (being in Staten Island). And every time I chose to go to Monmouth. I had every intention of playing Belmont, but it was going to be from Monmouth Park.

"People have discretionary income" I don't think people have as much of this as you think.