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probably the main reason why horse racing did very well for many years was that it was the only sport that had fan participation in it. first, everyone that went to the races could place a wager on the outcome of the race. 2nd, you could either own a race horse or own and train a race horse and be a small entity and be able to survive the game as well as the bigger guys.
today racing has managed to scare the bettors away due to lack of transparency and integrity. they also made it impossible for small owners and trainers to survive and have basically eliminated them.
the betting part is real doozer. they rewarded the larger bettors with more access to the mutual pools and higher rebates than the smaller guys can get. what the game doesn't realize is that by scaring away the smaller bettors also diminishes the opportunity for a smaller guy to get a bigger one interested in the game and become a potential customer.
the game has had many shots in the arm to jump start it with simulcasting, casino money, breaks in the tax code. nothing has really helped it.
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