Less-is-more philosophy makes sense at Monmouth
It is refreshing to see horse racing leaders who understand that the status quo isn’t good enough anymore. I’m referring to New Jersey and Monmouth Park, where the state, track and horsemen agreed to a dramatic change in the way they’re doing business.
Monmouth will race only 50 days this summer, with a 21-day fall meet. That will replace the fall thoroughbred meet at the Meadowlands, which now will conduct only harness racing. The reduction in dates is from 141 to 71 in 2010.
This will allow Monmouth to offer on average $1 million a day in purse money this summer, making it the richest race meet in the United States. Further changes include a three-day race week and 12 races per card.
The ”less is more” philosophy makes sense. The U.S. has a horse shortage. Horseplayers want to play fuller fields. Thus, combining quality and quantity should produce an outstanding product.
Industry experts have assumed this will negatively impact the competing Saratoga meet. I disagree. I think the tracks that will lose the most are in the Mid-Atlantic, such as Delaware, Penn National, Philadelphia and Pimlico. A short ship, for purses 50 percent or more higher, is enticing.
I will play a simulcast signal of such quality. I’ll also volunteer this proposal to Monmouth: Offer a subsidy to us horseplayers. It’s known that Atlantic City casinos are giving a $20 million subsidy to Monmouth for purses.
What I suggest is a reduction to 10 percent takeout in the straight pools, win, place and show. The takeout is currently 17 percent. The 7 percent difference is in essence a subsidy for horseplayers. Between higher returns to bettors and more handle because of an improved racing product, the Monmouth churn in straight pools should explode. The increased revenue will theoretically offset givebacks by the track and simulcast outlets.
Considering Monmouth is courageous enough to make this great experiment, why not include us players, too?
■ STILL A WINNER — It is amazing that many racing fans are saying because Rachel Alexandra lost last week that she was not a deserving Horse of the Year. There is no connection between the award and the loss. In 2010, Rachel Alexandra was 8-for-8 wins. This year she is 0-for-1, that’s all.
■ SOUTH POINT — The Thursday South Point Six progressive carry-over was not won this week. The contest carry-over has grown to $11,370.
Richard Eng’s horse racing column is published Friday in the Las Vegas Review-Journal. He can be reached at rich_eng@hotmail.com.