andicap
04-26-2004, 11:28 AM
page 1 today (you need to register I believe)
http://www.nytimes.com/2004/04/26/sports/othersports/26WHAL.html
And my response in a letter to the editor I sent.
To the editor:
Racetracks may believe that money going off-shore will invariably curb their revenues, but they neglect to mention a very strong mitigating factor in
Joe Drape's story (April 26, page 1) about high-rollers playing the odds by getting rebates outside of the U.S. The more a player wins, the more he can throw back into the pot and contribute greater amounts to the track's handle. Yes, the tracks are receiving a far less percentage of the take from off-shor(e bookies, but by returning more money to the bettors, the Caribbean books are keeping more money circulating. The huge takeout suffered by those who bet through American tracks takes money out of bettors' pockets much faster, removes those funds from circulation, and discourages them from returning to the track.
(I mentioned that I have written about racing for pubs like The Bloodhorse in the past in hopes of increasing my meager chances of betting published.)
http://www.nytimes.com/2004/04/26/sports/othersports/26WHAL.html
And my response in a letter to the editor I sent.
To the editor:
Racetracks may believe that money going off-shore will invariably curb their revenues, but they neglect to mention a very strong mitigating factor in
Joe Drape's story (April 26, page 1) about high-rollers playing the odds by getting rebates outside of the U.S. The more a player wins, the more he can throw back into the pot and contribute greater amounts to the track's handle. Yes, the tracks are receiving a far less percentage of the take from off-shor(e bookies, but by returning more money to the bettors, the Caribbean books are keeping more money circulating. The huge takeout suffered by those who bet through American tracks takes money out of bettors' pockets much faster, removes those funds from circulation, and discourages them from returning to the track.
(I mentioned that I have written about racing for pubs like The Bloodhorse in the past in hopes of increasing my meager chances of betting published.)