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Let's be blunt for a second---if it wasn't for racinos and other ways for tracks to make money off non-horse-racing wagers, there'd be 20 tracks maximum left in this country. Maybe that's too high a number.
This has been discussed ad naseum, but young people gamble a lot. They don't have the bankroll of us oldsters, but there's a ton of interest in it even down to high school. It's been mainstreamed and is in these kids' faces all the time. But this is sports wagering, not horse racing. And why would someone just starting gambling want to learn racing with 2-3 times the takeout that they know nothing about, where they think they understand football/basketball and it's easily accessible right on their phones?
Racing could have done everything right and still faced an uphill battle. They didn't, and now the obstacles are so much bigger.
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