Paulick: DEADLINE LOOMS FOR EXCHANGE WAGERING, TAKEOUT HIKE IN CALIFORNIA

[andymays]

http://www.paulickreport.com/blog/deadline-looms-for-exchange-wagering-takeout-hike-in-california/

Excerpt:

Rumors of legislation that would permit betting exchange wagering in California are making the rounds in the hallways of the state capitol in Sacramento, but with just over 24 hours remaining until Friday’s 5 p.m. PDT deadline to amend any existing bills, no language has yet been filed. California’s Senate and Assembly adjourn Aug. 31.

http://www.paulickreport.com/blog/deadline-looms-for-exchange-wagering-takeout-hike-in-california/

[Fager Fan]

http://www.paulickreport.com/blog/deadline-looms-for-exchange-wagering-takeout-hike-in-california/

Excerpt:

Rumors of legislation that would permit betting exchange wagering in California are making the rounds in the hallways of the state capitol in Sacramento, but with just over 24 hours remaining until Friday’s 5 p.m. PDT deadline to amend any existing bills, no language has yet been filed. California’s Senate and Assembly adjourn Aug. 31.

http://www.paulickreport.com/blog/deadline-looms-for-exchange-wagering-takeout-hike-in-california/

Racing's alway a day late and a dollar short. I'm totally opposed to exchange wagering unless racing runs it and gets all the profits off it. Not Betfair.

[andymays]

We need a HANA Board member to explain what's going on with this.

You know the Betfair stuff!

How about it?

[Horseplayersbet.com]

Racing's alway a day late and a dollar short. I'm totally opposed to exchange wagering unless racing runs it and gets all the profits off it. Not Betfair.
Are you opposed to the takeout hike?

[andymays]

http://chrb.ca.gov/

CHRB Meeting today August 19th!

Go to Webcasts. The meeting starts at 10:00 am pst.

[surfdog89]

Thanks for posting the site...... I will listen!

[Fager Fan]

Are you opposed to the takeout hike?

I'm opposed to all three initiatives.

[Stillriledup]

I'm opposed to all three initiatives.

This reminds me of a quote from a famous football coach a bunch of years ago. When asked about his team's execution he said, "i'm in favor of it".

[kenwoodall2]

Ever since there has been a bigger takeout for exotics, takeout has been and is a PROGRESSIVE BETTING TAX!

[Fager Fan]

This reminds me of a quote from a famous football coach a bunch of years ago. When asked about his team's execution he said, "i'm in favor of it".

That's funny, I like that.

[Seabiscuit@AR]

If racing ran exchange wagering commission would be set at 30% and then rise each following year

I can see in the long run Betfair having a monopoly on exchange wagering being a bad thing for customers. But in the short run (ie the next few years) Betfair running the exchange will be a good thing as they will be in competition with the tote run by racing and governments. And if some major change is not made very soon (like exchange wagering not run by racing) then USA racing will be dead if it isn't dead already

[DeanT]

You know the Betfair stuff!

How about it?

I know what I read on the Paulick Report. Legislation is supposed to go through w/ the takeout hike and exchange wagering in a unanimous vote.

Imo, takeout will sail through because tracks like raising prices. When handle goes down they will blame it on the economy to insulate themselves from criticism.

Exchange wagering, imo, will not have as easy a run through. Old racing protects their slice until you pry it out of their hands. People think they are entitled to taking 25 cents out of every dollar bet, and that's that. They will have three main talking points to try and bring it down; all which are myths.

1 - They are pirates that do not pay racing.
2 - Purses will plummet, tracks will close and people will lose jobs as wagering is cannibalized
3 - The integrity of the game by betting to lose is really bad

Fear is an excellent motivator, so expect comments on places like Paulick to echo those talking points. But gamblers and gambling operators know how to argue the points against these things - they have been through it many times. They will probably win, eventually.

If the CHRB acquieses and tries to charge a high commission on wagers via the exchange, it will fail. If it fails, they will probably blame it on the economy.

My 2 cents.