Balmoral Park handle up 27 percent
July 19, 2012,by Michael Antoniades, Balmoral Park racing analyst
Crete, IL — Balmoral Park reported surging handle growth in the first half of 2012, showing an increase of 27 percent in handle versus the first six months of 2011.
Total combined handle of $80,909,290 for 76 programs in 2012 was an increase of $17,469,771 compared to the 2011 handle of $63,439,518 on 75 programs.
The nightly average at Balmoral rose to $1,064,595, an increase of $218,735 per night versus the nightly average of $845,860 in the first six months of 2011.
Sister track Maywood Park trended upwards as well. For the month of June, handle on the half-mile track was up more than 12 percent. A total of $6,607,151 was bet on nine programs compared to $5,875,973 on nine programs in 2011. The nightly June average of $734,127 was $81,242 higher than the June average of $652,885 in 2011.
Going back to the successful model of the 1970s and 1980s, Balmoral Park went with only 847 races on 76 nights for an average of 11.14 races per program. The theory of creating more free time for the players as a result of less races to handicap proved successful again as the average handle per race in the first six months of 2012 was a healthy $95,524. This could not be possible without the solid support of the horseplayers of North America.
The Balmoral Park average of 35 percent winning favorites for the first two quarters of 2012 was the lowest in harness racing, a full seven points under the 2012 industry average of 42 percent. The Balmoral 35 percent average compared favorably to the top Thoroughbred tracks in the country as well. In 2012, Thoroughbred winning favorite averages at the top tracks in North America were Gulfstream 34 percent, Santa Anita 36 percent, Belmont 38 percent and Churchill 38 percent. The fact that three of the major Thoroughbred venues in 2012 all sported higher percentages of winning favorites is a big reason why Balmoral Park has been able to get old and new Thoroughbred players interested in harness racing because of the value being offered.
The Pick-4 wager at Balmoral continues to produce superb results, offering a great lesson in economics. Thanks to the USTA Strategic Wagering Program, Dean Towers and the Horseplayers Association of North America, TrackMaster for the deluxe free program pages and a low takeout of 15 percent, the Balmoral Pick-4 has become a must play bet in North America.
In 2009, the Pick-4 averaged $8,827 per night with a 25 percent takeout. Thirty months later in the first six months of 2012 the average pool rose to $32,209 with the 40 percent reduction in takeout. Through the second quarter of 2012, $2,447,897 was wagered on 76 Pick-4s. The average $1 payout was $2,819.81, among the highest in Thoroughbred and harness racing. Some 33 of the 76 Pick-4 payouts exceeded $1,000 for an average of 43 percent.
Since the guaranteed Pick-4 pools were introduced in April 2011, the Balmoral guarantees have been raised an additional five times in the last 15 months.
Free program pages are available nightly courtesy of TrackMaster at www.ustrotting.com.