05/16/2010 5:02PM

Preakness 2010 Handle


The $7.4 million decline in Preakness Day betting from last year was almost entirely due to a sharp dropoff in straight, exacta and trifecta betting on the Preakness itself on a day when handle was virtually even with last year's through the day's first 11 races.

As the table below illustrates, nearly $7 million of the $7.4 million dropoff came from intrarace betting on the Preakness: declines of $2.98 million in win-place-show betting (from $23.08 million to $20.10), a $1.5 million decline in exacta betting (from $13.26 to $11.73 million), and a $2.5 million decline in trifecta betting (from $16.43 to $13.94 million.)

The rest of the day's decline of just over $500,000 was entirely attributable to the day's last race, right after the Preakness, where there was only a five-horse field and intrarace pools were off 34 to 73 percent from a year ago.

Betting was up 10 percent after the day's first six races. Pools were all over the map after that -- down on the Schaefer and Gallorette, then up on the Maryland Sprint and the Dixie -- but the total after 11 races was off by less than 1 percent.

It seems that the decline, especially after a 4 percent jump in Derby betting two weeks ago, speaks less to any industry trends than to the appeal of the main event. Clearly, last year's Preakness, with Rachel Alexandra taking on the 1-2-3 Derby finishers, piqued betting interest more than this year's edition.

(Note: Pimlico reports slightly different handle totals than these, but they do not materially affect the comparisons. Pimlico's totals for both years are $2.3 million higher because they include non-commingled wagers, multi-day bets, and wager fees paid by other entities to come up with a total of $79.2 million vs. 86.6 million last year -- the same $7.4 million decline as in my commingled-only totals of $76.9 vs. $84.3 million.)

tom mcdonough More than 1 year ago
Belmont's card is embarassing.
gk__in wisc More than 1 year ago
Steve as always you get people thinking. I saw the Monmouth stuff too and thought,,, "well I usually move on to Belmont this time of year, as many do. Maybe I will check out Monmouth today" Well I tried to do a little analysis too, ala Steve Crist. I looked at Mon. and Bel. as the day went on and I used win money and Trifecta money. ( I like betting Tri's) and here is what I found. First at Mon. (and Bel,) 1st R to win Mon 79k (Bel 169k) Tri 70k (Bel. 130k) 2nd R to win Mon. 114.5k (Bel. 169k) Tri Mon. 133k (Bel 147k) 3rd- M 156k (Bel. 224k) Tri 141k (173k) I think you can all see the trend. It continues Mon 4th 174k to win was bet (Bel. 258k to win), the Tri 180k @ Mon. and (Bel. 190k ) in the one stakes race at Belmont 344k was bet to win and the two stakes at Monmouth together barely went over that 344k. I guess I will continue to Bet Belmont!! --at this rate -- and I like what Monmouth is doing BUT I know Belmont better, the horses... etc.... so - so much for the idea of going to "the money track. Seems the real money - bet at least is still in NY. Well it did get me to look at it!
brainhurts More than 1 year ago
Hey Walt P. [I read somewhere else that] the Triple Crown spacing and particulars have been consistent since 1949, not 1969. [Neither date is absolutely correct. While the 2/3 week spacing began in the 40's there were exceptions as recently as the 60's. I'll go through the details in a future post. -SC]
Diceman More than 1 year ago
Hi Folks, I am writing this Blog prior to the First Post Time at Monmouth Park today, 12:50 PM for State Bred Maidens, Purse $40,000. I will pass this Race since I never bet on Maiden Races and their unpredictable results! The Monmouth Park bold iniatitive deserves the full and unconditional support of all racing fans, professional handicappers and novices! It is a remarkable plan that has never been tried before in US racing history. Mary, my Wife, and I plan to drive to Monmouth from Ohio in my New Cadillac in about two weeks. Obviously the Monmouth area economy will recdeive a huge boost in tourist dollars. I will also be betting at a higher level once the Horses have made their first start over the Monmouth Track. Opps! I just gave away one of my Important Handicapping Factors! My only concern may turn out to be fairly important. The three day week racing schedule is a detriment to the Residual Race Fans, Owners, Trainers and Jockeys. They all need more action to pay the high maintenace bills common at East Coast Tracks. But let's wait and see. I would not want to commute to New York City several days a week as a Tourist when Monmouth is closed for live racing! Again, I applaude Monmouth Park Management and New Jersey State Racing Officials who made this racing adventure possible! Let's all hope this becomes the model for other major US Race Tracks! Good Luck! Diceman
ml/nj More than 1 year ago
This is a tough weekend for me so I won't be there, but I do hope to considerably up my visits to Monmouth from my usual one per year. (And I do expect to download the PPs for Mth every raceday. Last year I downloaded one Mth card.)
jp More than 1 year ago
i am looking foward to the monmouth meet this summer. Your thoughts on it Steve and will you be playing it?
Michael Cusortelli More than 1 year ago
Following up on Mark's comment here, is there any way for us to find out how much money was wagered in the Pimlico infield? Did they even bother putting betting windows up out there?
Stephen Taylor More than 1 year ago
Mark- gotta disagree a little bit about the beer drinkers betting. Do you think Vegas gives away free liquor because they're nice people? Alcohol lowers inhibitions and if the beer drinkers brought money with them they bet it. I do agree the exacta may have have been low-I caught the pool one and 2 future exacta and they paid 176.40 and 259.20 (and that's with the favored field 2nd) Almost had it all 3 if Paddy hadn't gotten caught. That's 2 years in a row the exacta futures have ended up making the Derby a profitable race for me.
Syracuse Ernie More than 1 year ago
A sincere thanks for Belmont pps and story lines this soon. Thanks to all.
utah More than 1 year ago
Another great day at the track for Garrett Gomez. It never seems to amaze me how these fellas seem to lose the ability to ride in dirt races in big fields after riding synth tracks...