Wagering tops $3
million per night in 2016
EAST RUTHERFORD, NJ (January 21, 2016) – As live
racing enters its fourth weekend of the new year, the Meadowlands Racetrack is
pleased to announce impressive gains in live handle over the comparable
weekends in 2015.
Average nightly handle through the first five programs of
2016 is $3,094,154 – a gain of more than 13 percent over the corresponding
cards in 2015. While the Meadowlands has been carding 14-race programs this
year compared to 13-race cards last season, the average handle per race is also
up nearly four percent.
“We are obviously very pleased with the strong start to 2016
so far in terms of handle,” said Jason M. Settlemoir, Meadowlands CEO and
General Manager. “Our team has worked very hard to maximize field size, create
competitive and attractive betting races, and coordinate post times with other
tracks. We are always trying to improve the wagering experience for our
customers both on and off track. We have continued with our out-of-competition
testing program and sending samples to Hong Kong’s world-renowned testing lab
to ensure a level playing field.”
While short-priced winning favorites can create an
unappealing wagering proposition, the Meadowlands has bucked that trend so far
in 2016 with the wagering favorite winning at just 32 percent, below the
national average. In addition, the average win price during last weekend was
$15.81.
When it comes to multi-race wagers, the Meadowlands offers
the industry’s largest guaranteed wagers. But more important for horseplayers
is the average pool size. So far in 2016, the track’s early pick four has
averaged $54,044 while the late pick four tops $66,000. The pick five’s average
pool size is close to $40,000. All three wagers offer a 50-cent minimum wager
with a takeout rate of just 15 percent.
Live racing takes place Friday and Saturday nights this
weekend with 14-race programs beginning at 6:35 p.m.
