Inflation really killed parimutuals ( dogs, jai alai,etc.)

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Rx God
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post is from a jai alai forum, not my writing. Basically the minimum $2 bet fifty years ago is still $2 ( or less), but it was really like $20 back then, and the handles have gone down !
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Inflation
[SIZE=-1]Posted on March 29, 2010 at 00:54:39 AM by bigplay
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Think about this,
Dania opened in 1956? I think. At that time minimum wage was $1.
$1 in 1956 spends like $8 today.
Admission was at that time $1, that's true for at least some of the seating area ( I saw a ticket)
was the minimum bet $2 at that time?
Because if so, that would be equal to about $24 to get in the fronton and place 1 minimum wager !
Any old timers out there, feel free to chime in and tell me about the good ole days. Perhaps a day at the fronton that changed your life (for the good hopefully)
I met a really old guy at old daytona dog track, and he told me his life would probably had been very different if it was not for a single night there when he was young..
The story was something like he hit for the entire pool, holding the only ticket for the daily double,
I think he said it was $4,000
 

Rx God
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certainly casinos didn't help, but the minimum bet of $2 was once pretty fair money. Amazing that handles can drop in 50 years.
 

schmuck
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parimutuel used to be the only way to gamble legally outside of
nevada and a few card clubs. the cames the lotteries, charity events, atlantic city, indian casinos, racinos, and the crack cocaine
of gambling, THE INTERNET (click your mouse, lose your house).
with all of the other forms of gambling now available (most of which offer a much better deal for the player, the expansion of entertainment options,
and the proliferation of horse wagering availability due to simulcasting; it's
amazing that any track except for the big cities and those that
are racinos are still around.
indian ci
 

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Monmouth Park (re) opened in 1946 with entrance of $1.60; today it is $3.00. Without subsidy, inflation on that 1946 ticket should make it around $18 entrance today.
 

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The rake is the real killer. They are raking something like 18% to 25% on every bet.
It doesn't take long for the crowd to go broke.
 

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Combination of a lot of factors.
Online for starters, today the player doesn't even have to leave his sofa for action.
Secondly, lack of interest.
When I lived in Boston 20 years ago, the dog park did decent business, from what I read today, that business is down 40 percent or so.
There are just way too many options out there today
 

Rx God
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The rake is the real killer. They are raking something like 18% to 25% on every bet.
It doesn't take long for the crowd to go broke.

Wasn't that the case decades ago also ?

they have to take the cut to operate.

I don't think any parimutual operation in the US is doing well....certainly not dogs and jai alai, I don't know horses too well, but offshore books can't help pay costs of operation.

Lottery holds far more, and a trip to the casino can easily lose more than a night at the jai alai fronton or track, less hold at a casino, but you can pump a lot through a $1 slot machine in an hour !
 

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