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[Stillriledup]

Originally Posted by rrbauer

Most of the money that has left horse race betting is due to attrition, not competition. (Attrition of bankrolls due to a variety of reasons, including the bankroll-owners demise.) The competition factor comes into play when considering the overall appeal, including the takeout, of horse race betting compared to other forms of betting where ATTRACTING NEW MONEY IS CONCERNED.

Horse race betting has not attracted a pro rata share of the new money that comes into the gambling scene because it is still being managed by the monopoly mentality. The monopoly mentality is so busy trying to preserve the status quo that competing with other forms of gambling for new customers and new money is not on the table for those charged with "managing" the game. The net result is a scramble to survive and avoid shutdown; not prosper and grow. Being "down a little bit" in year-over-year comparisons is considered a plus...even when it has been happening for ten years (longer when adjusted for inflation)! And this BS continues to be fed into the public news' streams, quarter-after-quarter, year-after-year as "evidence" that the sport is healthy and thriving, that management is doing a great job; and, that as soon as the local game is rescued by the general public via the alternative gaming subsidies will the game's old luster and sparkle return. Of course, in those venues where the latter is happening, the "ino" part of racino is becoming "ino" and "rac" is still "rac". And, that disproportion applies to capital investment as well as revenue production and, not surprisingly, customer satisfaction.

Guys like Joe Harper are excited when they lose 6% just because a few more people showed up at the track to watch the concerts. Guys like this aren't leaders in the industry and they should be. CEO's of major racetracks ought to be 'better than' just being happy at losing 6% and convincing themselves that polytrack creates less injuries than regular dirt.