Kentucky Bred
02-23-2003, 07:06 AM
We were closer than you thought to the beginning of what will eventually become the next generation of horse race wagering, one way or another.
Below's the link to a DRF article that appeared in today's racing form. North Dakota came oh..so..close to allowing the licensing of an American betting exchange. This type of wagering is between bettors instead of parimutual. So, if you thought that Harlan's Holiday was going to run big today and some guy/gal in Anywhere, USA thought he was overrated. He could book your bet on that horse and offer you say 3-1 instead of $6.40, nearly a 50% increase! This is the type of revolution that would change this industry.
You know how cool it is to check the win and exotic prices of the Kentucky Derby payoffs across North America? You know how you would wish you were at Emerald Downs or something so you could get an extra $5 on the winner? Well, that could be every day for us as we search for the best price and value. Here's the link.
http://www.drf.com/news/article/44379.html
What's more, the juice in the UK for betting exchanges runs about 2-5 percent. One betting exchange site is offering a special of 1% juice! That's lower than any game in a casino. The impact to our sport would be sudden and immediate if this type of Ebay type wagering existed. As I said in an earlier post, the problem is that there is a bunch of P/O'ed racetracks execs and powerful players in the horse biz that stand to lose bigggg money if this type of wagering takes off. So, they stopped the state sponsored bill cold...this time.
But will they lose money? I mean, with more betting action and players actually having a real shot to make consistent money betting the sport, I'm here to argue that fan and betting interest in this sport would grow dramatically not shrink. On-site track attendance might grow as well.
Betfair.com is bringing in $10 million per day, but the long and broad interest of the sport in Europe grows just as dramatically. This brings money to everyone in the sport. How often do you pay to watch the Super Bowl? Never. Is the NFL going broke anytime soon? No. Why not? Because the millions of football fans find ways, through marketing, to spend some money on their product. That is because (are you ready?) it is marketed. Imagine that concept. A novel idea.
So, you powerbrokers of the horse racing world. Go ahead and stay hidden in your second floor offices above the racetracks of America and pray for the return of the days of 50,000+ track attendees during the Santa Anita Derby or Hollywood Derby. They will return. Sure they will. How about raising the track admission fees to $50. That will get you more money from everyone who still shows up, right? That is how you could improve revenue. Hey, by the way, how successful are those "Go Baby Go" commercials these days?
Here is a chance for the people who are in charge of this sport to step up and do something that will benefit the player--the backbone of this sport--and still get themselves more money. Now isn't that what they would call a "Win-Win" situation?
(Sarcasm intended. I feel better now, thanks for listening)
Kentucky Bred
Below's the link to a DRF article that appeared in today's racing form. North Dakota came oh..so..close to allowing the licensing of an American betting exchange. This type of wagering is between bettors instead of parimutual. So, if you thought that Harlan's Holiday was going to run big today and some guy/gal in Anywhere, USA thought he was overrated. He could book your bet on that horse and offer you say 3-1 instead of $6.40, nearly a 50% increase! This is the type of revolution that would change this industry.
You know how cool it is to check the win and exotic prices of the Kentucky Derby payoffs across North America? You know how you would wish you were at Emerald Downs or something so you could get an extra $5 on the winner? Well, that could be every day for us as we search for the best price and value. Here's the link.
http://www.drf.com/news/article/44379.html
What's more, the juice in the UK for betting exchanges runs about 2-5 percent. One betting exchange site is offering a special of 1% juice! That's lower than any game in a casino. The impact to our sport would be sudden and immediate if this type of Ebay type wagering existed. As I said in an earlier post, the problem is that there is a bunch of P/O'ed racetracks execs and powerful players in the horse biz that stand to lose bigggg money if this type of wagering takes off. So, they stopped the state sponsored bill cold...this time.
But will they lose money? I mean, with more betting action and players actually having a real shot to make consistent money betting the sport, I'm here to argue that fan and betting interest in this sport would grow dramatically not shrink. On-site track attendance might grow as well.
Betfair.com is bringing in $10 million per day, but the long and broad interest of the sport in Europe grows just as dramatically. This brings money to everyone in the sport. How often do you pay to watch the Super Bowl? Never. Is the NFL going broke anytime soon? No. Why not? Because the millions of football fans find ways, through marketing, to spend some money on their product. That is because (are you ready?) it is marketed. Imagine that concept. A novel idea.
So, you powerbrokers of the horse racing world. Go ahead and stay hidden in your second floor offices above the racetracks of America and pray for the return of the days of 50,000+ track attendees during the Santa Anita Derby or Hollywood Derby. They will return. Sure they will. How about raising the track admission fees to $50. That will get you more money from everyone who still shows up, right? That is how you could improve revenue. Hey, by the way, how successful are those "Go Baby Go" commercials these days?
Here is a chance for the people who are in charge of this sport to step up and do something that will benefit the player--the backbone of this sport--and still get themselves more money. Now isn't that what they would call a "Win-Win" situation?
(Sarcasm intended. I feel better now, thanks for listening)
Kentucky Bred