Wagering, casinos and prop bets

As you might expect, we get a lot of comments on our Mane Attraction stories and now is a good time to catch up on one of the more interesting ones.

One critical comment—or meant to be critical—was the thought that harness racing would be “dead” if they didn’t have betting.

My first thought was, “DUH,” no kidding!

Yes, times have changed in more ways than one and competition from multi-sources is part of the situation as the lottery, casinos and sports betting are among the venues all vying for everyone’s dollar.

Heck, way back when—even prior to 1860 — “policy shops” were involved in the numbers racket in New York and the New York State Assembly deemed it the “lowest, meanest, worst” form of gambling.

It also flourished in Boston and surrounding areas, Chicago, Detroit, Cleveland, Atlanta and Harlem, which featured “black policy banks.”

There were a number of ways the daily number was chosen, with some book makers even using the last three numbers of the mutuel handle at any nearby horse track to avoid any thought of improprieties. If the win handle was $30,228, the place handle $8,246 and the show handle $2,431, the daily number would be 861—the last three digits of each of those handle numbers.

Other daily numbers were determined by the last three digits of the total of shares traded on the New York Stock Exchange.

Funny how all of a sudden, the “illegal” numbers racket became legal when States found they could make a dollar or two—or a billion or more—from it with lotteries—the first one being in New Hampshire in 1964.

The history of casinos goes back to Italy way back in the first half of the 1600’s. The first slot machine was invented around 1850 and, in 1930 or 1931, gambling became legal in Nevada with the hub being in Las Vegas, although cities like New Orleans, Chicago, St.Louis and San Francisco had “saloons,” which featured gambling.

Today, there are over 460 casinos in the United States and another 88 or so in Canada, all vying for the almighty buck!

As far as sports betting is concerned, in 2021, over $57 billion was handled…and that excludes tribal run sports books.

It is estimated that as many as 47 million people bet on NFL games last season, either at a casino, a sports book, online or with fantasy football contests.

It’s also estimated that over $4 billion was bet or more is bet on last year’s Super Bowl alone with over 25 million patrons betting on that venue.

And as other sports creep into the American custom of sports, the situation isn’t about to get away easier as there global sports betting industry is estimated at $3,000,000,000—yes, that’s trillion—and four of the top five betting sports in the world haven’t made their way solidly to the United States.

Tennis is the fourth most sport on which wagers are placed with basketball number three—both pro and March Madness on the college level.

The “most” bet sport is one that is creeping its way into the States—Soccer!

One sports data analyst estimates that some 70% of all betting (both legal and illegal) is on soccer.

A total of $12.1 billion was bet on thoroughbred racing last year and, although their race days are mostly days, it still is competition that takes some dollars from harness racing and does have some influence on daytime harness tracks.

Harness racing’s total handle for 2022 was $1.48 trillion, down by about 8.3% from a year ago.

Looking at all this competition, it’s amazing that handle has held up as well as it has.

Harness racing needs one “Gabe Prewitt” at every track keeping tabs on post times so as not to step on each other’s toes, which costs un unknown amount of handle.

At Pompano, Gabe made sure he didn’t step on any other tracks toes…and that they didn’t step on PPk’s.

Harness racing isn’t unique to this changing world of gam(b)ing.

In fact, most every industry has to lean on something to succeed.

Harness racing has had to rely on casinos and their parent companies to keep their word about supporting harness racing and even thoroughbred racing, too, to a lesser extent. Some have and some haven’t. (Pompano Park, Calder Racecourse and Arlington Park come to mind.)

Think of where restaurants and food sellers would be without condiments.

Where would French Fries be without ketchup, mayo, salt and, in some areas, vinegar?

And with French Fries being just a small part of the potato industry, where would bake potatoes be without butter, chives and sour cream?

Where would the hot dog industry be without mustard, pickles and all the other stuff put on that dog?

Where would the lobster and crab leg industry be without drawn butter???

There are many, many other industries that rely on supplemental help to stay in business and thrive. Our just happens to be an industry where land value and politics are the culprits that get into the way.

So, what’s lacking in harness racing. Well, we’ve been slow to become modern “off track” in an age of modernization on track.

Repeating an idea to help on-track handle and, at the same time, increase slot handle and restaurant revenue, casinos send millions of dollars of “comp” money a month out by mail trying to lure players to their large non-denominational house-of-prayer. (Yes, it doesn’t matter what you are, you’re all praying to G-d for a jackpot, admit it!)

If you have ZERO takeout ON TRACK ONLY, it’s the very same thing as giving $10 to the average bettor with free slot play and that player will be rewarded with a larger mutuel—whether it be a full $10.00 on an even 4.00 to 1 shot compared to $8.00 off track or $250.00 more on a $1,000.00 trifecta payoff compared to $750.00 off track! It’s just like giving the on-track patron that same amount that you mail to your slot players!

More mutuel play…maybe some slot play…maybe some restaurant revenue…

This is also where the idea of “prop bets”—like in other sports and non-sporting events—comes into “play” both on and off track.

Will Aaron Merriman will 1,000 races this season?

Will any horse equal or beat Bulldog Hanover’s world record of 1:45.4?

Will there be a dead-heat for any position on tonight’s racing program at any harness racing track?

Will the daily double combination pay over or under $40.01? (The penny is to avoid ties!)

What will be the time of our featured ninth race tonight — over-under 1:48 1/2?

Will there be any disqualifications on tonight’s card?

Will the combined time of the first eight races be over of under 15:20 1/2 seconds?

Will any horse win from the outside post in a seven, eight or nine hotter field?

Will there be any quarter faster than 26 1/2 seconds?

There are a thousand more—it just takes a bit of imagination!!!

When Hambletonian or Little Brown Jug eligibles, how about future bets? (Some exist already…and that’s a start!)

We may be ahead of the times on the track…but we’re behind the times off the track…and time is running out to ketchup!

by John Berry, for Harnesslink