Race tracks need to take risk

[formula_2002]

Horse race betting is risk taking for the bettor. But because of the structural nature of pari-mutuel betting, there is no risk for the race track.
Beyond the betting window’s trainers, owners and jockeys take risk. In their relationship with the track, I know of no risk taking by the track, other than perhaps normal business risks such as insolvency of others, operations, maintenance, marketing and employment and insurances, just to name a few.
And of course the horses take risk.

Because of a lack of taking risk by the tracks, they are losing a bigger and bigger market share to a net work of gaming sites outside of their control. These sites themselves can be structured for little or no risk and still draw betting dollars away from the tracks.

So, I propose that tracks should consider taking more risk.
One step would be for the tracks to offer fixed odds betting.
Even here they could eliminate much of this risk the same way bookmakers attempt to protect themselves, by laying off bets. They could layoff bets to agents outside of the tracks and they could even lay off their bets to the bettors.

[cj]

I think state legislator's might be opposed to your ideas, but I could be wrong.:faint:

[formula_2002]

I think state legislator's might be opposed to your ideas, but I could be wrong.:faint:

I had edited this line out of the post.

"There are many obstacles to fixed odds betting, none are scientific, just political. "
Never make a case for the other guy.

[ryesteve]

Given the way bureaucracies operate, I can easily envision them screwing up to the point where fixed odds betting would cost them millions before they'd finally give up and pull the plug.

Better idea: set up betting exchanges... let the customers set the lines, and the track can take 5% off the top.

[spilparc]

Horse race betting is risk taking for the bettor. But because of the structural nature of pari-mutuel betting, there is no risk for the race track...


I've been telling friends for years that what race tracks need to do is to have free admission and free parking and to make the cost of a program a quarter. Advertise like crazy, and then try and pack the place--every day of the meet.

Get bodies in the door. The average race goer is out $20 before he ever makes a bet, and then pays a heavy vig on top of everything else. Instead of shelling out that $20 for admission, programs, forms, seating, etc, that $20 would go into the pools.

The last time I checked the racing form was around $4. You can get a Sunday NY Times for $1.50 or $2 and it has 20 times the information as the racing form.

There have been many times I wanted to go to the track, but I just didn't feel like digging in my pocket for $4 for a form, $3 for a program, $5 for parking and another $5 or $10 for a good seat. Forget about all that. I'll just stay at home and do it all for a $1.

Make it a $1 to go to the track and do the same thing, and I and many others would go a lot more often.

My idea isn't doable, I know, but something has to be done to rekindle interest in the sport.

[formula_2002]

Given the way bureaucracies operate, I can easily envision them screwing up to the point where fixed odds betting would cost them millions before they'd finally give up and pull the plug.

Better idea: set up betting exchanges... let the customers set the lines, and the track can take 5% off the top.
I'm sure there are for many styles of play including match play, and yes much of the change centers around the vig.
Bettors dont need $10,000,000 horses or $1,000,000 purses, they need an honest and fair game.
The high vigs today 15% to 25% are way out of line.
They are "stealing" from the poor and giving to the rich..
I'll take a competive and fair $10,000 claimer any day..
My bettingg money is not looking for any triple crown winner, just winners.
To help lower the vig, perhaps we need "salary caps".
Bring up the low and lower the high purses.

[kenwoodallpromos]

They would need to use a word other than "fixed"!LOL!!
How about if the tracks "set" the lay odds on horses?

[formula_2002]

They would need to use a word other than "fixed"!LOL!!
How about if the tracks "set" the lay odds on horses?

ok :D