I don't think ESB can bonus 10% and survive, they think they can.

[Carl]

Well,

For everyone who wants lower take on straight bets anyway, ESB is (according to today's new's anyway) planning to continue to bonus all winning straight bets 10%.

This does some way cool stuff for your balance.
1) If you are a "break-even player" who does $5000 a month in volume, congrats. You now make a $500 profit. And, with the magic of compound interest, you will make $550 next month etc.
2) If you have a winning horse that pays $15.00 to win, now pays $16.50. This adds up in a hurry.

And they even take NY tracks, and whatever odd ball tracks they take every day. The only one's they are NOT taking of any note at this point are TIM, SAC and YAP. They do take all the other mid-range tracks such as FP, FL and MNR (Although they do have a limit of $50 for straight bets at MNR at the moment).

I personally don't think they can bonus 10% and show a profit, think they will pick up winning players like a magnet and get burnt. ( I also think the losing players won't bother with them, which is but another reason they are "losing players".) They should be awash in cash till after Super Bowl in any case, we'll see what happens after that. Till then, "marginal players" rejoyce!

later,
Carl

[fred4now]

Don't know Carl, they have been doing the 5% thing for awhile now and they have been in business a long time. Funny, I just answered the phone and it was a recording of Jim McMahon asking me to join ESB for the football season. Still waiting for them to answer my E-mail regarding online betting though.

[MikeDee]

Well I don't have a clue as to what there cash flow is like. But I know this much, they keep all of the take out, don't have to share any with any one. And as long as they limit wagers my guess is that they do as well or better then the tracks. I would think that they would fear the whale making a large wager wining and really costing them a bundle. Taking sports wagers is the next best thing to having your own printing press. If it wasn't the mob sure wouldn't be in the business.

Carl I think you vastly under estimate the willingness of the general public to wager and lose there money on a regular basis. State lotteries, Power ball, bingo games and casinos are not what they are today becasue so many people win.

With UBET and TVG charging you a fee to make a wager its starting to be real dumb not to wager with someone that actually pays you to do so. I would perfer to wager within the system, becasue I believe the tracks, horsemen and jockeys do deserve a fair cut of the action. But with a fee for a wager and the take at some tracks akin to robbery. I'm ready to jump ship.

As soon as they have a sold online wagering site I'm in. I'll use one of you guys as my referral.

[fred4now]

Mike,
I'm not worried at all about them going under. I think horseracing is almost a sideline with them anyway. They really do a lot of volume with basketball and football. I agree I would rather keep the money here but they are not listening and ESB wants our business enough to share tihe take. I deposited $100 in January and have made 2500 bets on it trying every crazy angle and have managed to break even, because of the 5%. They made alot of mistakes during that time but every one has been resolved to my satisfaction. Where the 5 or 10% bonus really comes in is with high win% plays. Not trying to talk anybody into anything, just my take.

[Carl]

Agree Fred and Mike that horses are a "sideline" with them, and the big money is in sports.

Still, I can't see any company wanting a division losing money, which I think they will paying out 10% over track on straight bets. I think they will attract the sharpies, the wannabe whales if you will, and their limits are high enough that there could be serious cash exchanged here.

And Mike, maybe I do vastly over-estimate people's desire to win, maybe there are a lot more action junkies than I think. I just figured most of them had moved over to powerball or on line casinos, but maybe no. As to my not supporting the track and horsemen, I am of Tanda's mind (thread on PA's), and my understanding is that the state racks off the lion's share in any case.

Be interesting to see how it all turns out. If anybody plans to lose money though, please do so at ESB so they may continue this great experiment of rebating "the little guy".

later,
Carl