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Old 11-05-2008, 03:19 AM   #24
Imriledup
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Join Date: Jul 2007
Posts: 1,988
What about an argument that racing really has no problems and its flourishing as much as can be expected given the fact that 99% of its customers lose money?

I think that racing fans are looking back at how successful racing was back in the day and we are comparing what we have today to what we used to have. But, what if you make the argument that what we used to have was a fluke and racing NOW is the way its supposed to be? Maybe we had more customers in the hey day but racing was destined to change with the times and we live in a completely different time and place in the universe.

Back in the day, there was no phone betting, no internet, no simulcasting and many less entertainment options not to mention ridiculous inflation making it less smart to travel out of your house to make a wager.. Why fight to get customers that we weren't entitled to in the first place?

Also, racing doesn't really get involved in free trade and competition and runs itself as more of a monopoly. Why wouldn't California, Kentucky or NY slash all takeout rates to 10% across the board and turn their own product into a super track that would lure almost every smart bettor around? If NY (for example) slashed all takeout to 10% across the board, would you play any other track? Would you even CONSIDER playing another track? Of course not, why would you?

But, racetracks are like gas stations and they have this price fixing thing going on. You can have a Shell station on the corner at 2.89 a gallon and a completely different gas station owned by someone totally different across the street and yep, you guessed it, that gas station will also be exactly 2.89. Why won't one of these stations lower their price to 2.88? Because the station across the street will do the same. Then, both companies will keep lowering their prices one penny until it gets to the point where it benefits no one. So, both stations MUST be in collusion with each other or how can you explain one station not lowering their price by a penny to steal the customers who don't care which gas they use?

Same thing with racetracks.........there doesn't seem to be 'competition' for the dollar, all tracks stick with the standard 17% win, 20% exactas and 25% trifecta takeouts pretty much across the board.

Why not just treat current customers like gold and stop trying to attract new customers? How many people are out in the USA are going to go to a racetrack for the very first time by themselves? Very few. But, most newbies are going to go with someone who's been there before. Most new customers are going with a current customer. Why not treat that current customer like gold?

I'll tell you why they don't treat the current customer like gold......its because there's no real competition. if you live in Los Angeles, you have to go to Hollywood/SA/FPX or you don't go at all. Only one of those tracks is open at a time, so you either patronize Hollywood (which is currently operating) or you don't go.

And, if you are a phone or internet bettor, every track has the same high takeout rates..........so, why would you bother switching wagering loyalties? It makes no sense to toss away years of experience betting one circuit unless it makes financial sense.........and, since every track pretty much has one standard takeout rate, it doesn't make any sense to switch, you would be tossing away your current base of knowledge to learn a completely different circuit that has the same exact pricing model.

Until one major racetrack breaks rank and lowers their takeout substantially, racing will continue to be one big fat monopoly where you either bet into 20% takeouts or you don't bet at all. Take it or leave it.
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