Quote:
Originally Posted by AlsoEligible
Agreed. Although even in those cases, how many existing horse players at the track will bail on the game to go wager on sports instead?
Sure, facilities will get a huge influx of new people showing up to place sports wagers, and maybe a few of them will throw some dollars at horse racing. But would that be offset by the number of existing players who take their money out of the pools to go put it on football or basketball instead?
Maybe I'm overly pessimistic, but I just don't see how racing (at least in it's current form) survives the nationwide legalization of sports betting. Whether wagering is allowed online from day one, or not until year three, sooner or later it will happen. Nothing I've seen from inside the industry shows that anyone is prepared for that. Nor do I have any faith that the industry would use a 2-3 year buffer to come up with a plan.
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Only way to go if they have brick and mortar wagering only is to lower takeout on the high churn wagers. Exactas have to be down to 16% and must pay to the penny on breakage. BTW sports bettors do understand parlays and round robins. They would have 2 or 3 years to convert a lot of them if the price is right IMO
