Successful
partnership has helped create first four straight $3 million nightly handles
since 2003-2004
EAST RUTHERFORD, NJ (February 9, 2016) – Thanks to
full fields, competitive racing, reduced takeout rates, and a successful
partnership with horse racing network TVG, the Meadowlands has posted four
straight $3 million handle nights for the first time since a period between
December 19, 2003 and January 3, 2004 when the historic harness track posted
five straight programs that handled more than $3 million.
The large wagering pools and relatively low percentage of
winning favorites (34 percent) created a horseplayer’s dream scenario last
Friday night. A carryover in the 50-cent Pick Five of $18,643 attracted more
than $140,000 in new money. With a usually tricky sequence that featured just
one favorite and a 42/1 longshot, one horseplayer was rewarded with a
life-changing payoff of $109,966.10. Plus, numerous other players that had four
of the five winners received $255.70.
“From a gambling perspective, look at what the Meadowlands
is offering,” explained Meadowlands CEO/GM Jason M. Settlemoir, “we have
$100,000 payouts to draw the big players. Ten cent superfectas averaged $423
last weekend to draw the smaller players. When you add exciting finishes,
big fields, big pools and low takeouts, everything currently adds up to
$3,000,000 a night. From a gambling perspective, what is there not to like?”
The partnership between the Meadowlands and TVG has also
contributed significantly to the wagering success. Harness racing at the
Meadowlands is featured prominently on the network. Every race is broadcast
live or on slight tape delay. In addition, the network’s on-air hosts interact
and analyze the races with the Meadowlands’ Justin Horowitz. This commitment to
the Meadowlands product and exposure to thoroughbred handicappers has attracted
new money to the wagering pools.
“The Meadowlands represents the best that Standardbred
racing has to offer in the U.S. and it shows in consumer enthusiasm for the
product,” said Kip Levin, CEO of TVG and Betfair US. “The attractive high
definition video presentation of Meadowlands races as well as the horsemen’s
participation at the meet allows us to present a compelling product to evening
audiences nationwide. We look forward to working with the Meadowlands on
future innovations for racing.”
In addition to the monstrous Pick Five payoff, the track’s
other guaranteed wagering pools in a pair of Pick Four wagers also returned
handsome amounts. Friday’s Early Pick Four paid $5,647 for a 50-cent wager
while Saturday’s Late Pick Four returned $2,585 for 50 cents.
The three guaranteed pools (Pick Five, Early and Late Pick Four)
offer reduced takeout rates of 15 percent, instead of the 25 percent allowed by
New Jersey regulations. The six pools handled a total of $428,615, which means
the reduced takeout allowed the Meadowlands to return an extra $42,861 to the
winning horseplayers last weekend alone.
“We are coming off four consecutive $3 million nights and
now that football season has ended, we think our current product is strong
enough with 34 percent winning favorites and 23 ten-horse fields this weekend
to draw not only sports fans, but crossover thoroughbred fans to play The
Meadowlands,” said Settlemoir.
Live racing takes place Friday and Saturday nights at the
Meadowlands with 14-race programs beginning at 6:35 p.m.
For more information, visit www.playmeadowlands.com.
