Spring/Summer Meet Ends With Slight Attendance, Handle Declines; 50-Cent Minimum Wager Players’ Pick 5 Remains Popular

Racing News
Posted 07.20.12 at 6:13

INGLEWOOD, Calif. (July 20, 2012)—Although Betfair Hollywood Park finished its 50-day Spring/Summer meet July 15 with slight drops in attendance and all sources handle, track president Jack Liebau was generally heartened with the results, considering problems facing the industry, particularly the ready-to-run horse inventory and high rate of unemployment in California.

The average daily on track attendance was down 9/10ths of a percent from the corresponding 54-day meet in 2011.

Bolstered by increased advance deposit wagering, the daily average Southern California handle of $4,773,009 was up 2/10ths of a percent from the average of $4,763,002 during the 2011 season.

A wagering decrease outside the state on Betfair Hollywood Park races caused the all sources average handle to decline 2% – $9,064,114 in 2012 compared to $9,251,001 a year earlier.

The average field size of 7.48 horses per race was 2.6% less than the 2011 Spring/Summer meet.

“Considering our expectations going into the meet, I thought, relatively speaking, we did very well,’’ said Liebau.

Introduced by Hollywood Park at the start of the 2011 Spring/Summer season, the Players’ Pick 5, a 50 cent minimum bet with a California low takeout rate of 14%, saw its average handle increase by 14.6% in 2012. The wager, which is offered on the first five races daily, had an average daily handle of more than $230,000.

“The wagering public continued to respond well to the lower takeout of the Players’ Pick 5,’’ said Liebau.

Betfair Hollywood Park will open its 2012 Autumn meet Thursday, Nov. 8. The season will continue through Sunday, Dec. 16.

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