Balmoral Park (2/9/11)
Contact: Tom Kelley
BALMORAL PICK 4 GAINING MOMENTUM WITH 15 PERCENT TAKEOUT
Estimated $35,000 pool tonight
The 2010 racing season showed that a good bet like a good wine, takes time.
On January 27, 2010 Balmoral Park revamped their wagering menu for the 2010 season. The biggest and most popular change was reducing the Pick 4 takeout by 40 percent. The Pick 4 wager would now have a 15 percent takeout, the lowest in the state. It did not take long to see what the player response would be.
Although the Pick 4 average declined in January, the word about the takeout got around. February would be the first of 12 consecutive months of increases. The final totals for the 2010 season were almost too good to be true. In a year when total handle declined, the $14,211 average pick 4 pool in 2010 was 61 percent higher than in 2009 when the average pool was $8,827.
Balmoral Park racing analyst Michael Antoniades tried to sum it up. “Simply put, the reduced takeout created more winners. The player who was close to profitability was now making money. The small losers with the old takeout became small winners. The winners with the old takeout became bigger winners. That was easily reflected in the pool totals. The added value of the Pick 4 with the low takeout was obvious.”
2011 continued the momentum as the January Pick 4 totals were very encouraging. Without the help of a single carryover, $212,294 was bet on the Pick 4 on 14 January programs, averaging $15,163 per night. The average January 2011 Pick 4 pool was 107 percent higher than January 2010.
On the subject of carryovers, the first Pick 4 rollover of the year is tonight. The carryover is $7,049 and we estimate a final pool of $35,000. The Pick 4 encompasses races 7 through 10 nightly.
First post is 7:10 every Wednesday, Saturday and Sunday.