fun topic , excuse if I rant a bit;
Quote:
Originally Posted by classhandicapper
Gamblers to the employees of the track, sellers of information, state coffers, and some horsemen/riders and their employees.
The exceptions are few, far between, and probably working harder than it's worth given if they have the talent and work ethic to beat the horses they could probably be making more doing something else.
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Like anything else, you need a great team, and if you reach that position, you have to have a '
moat' around it.
Moat's = You got 5 or 6 forces+
1.INSIDERS rivalry = what makes your business better than your rivals? Differentiation? Branding? Cost-Efficiency?
2.Bargaining Power of buyers = ability to charge a premium? Lock-in customers?
3.Bargaining Power of Suppliers = Large Market Penetration/share?
4.Threat of New Entrants? = Barriers to entry? Dependency on user base
5.Substitutes Copycats? = Patents brand loyalty?
6.(66) Innovation/Game-Changers? = Proactive technological and legislative vigilance?
Sorry, taking the opportunity to be somewhat silly on the Buffet Theme...
but, to win you are technically holding a certain market position.
Yes, if some player had some special knowledge of the game, 'betting' is usually one of the least efficient ways of applying that knowledge. Training, Owning, Breeding, operations would be fine without that knowledge, but some bonus profit could be made, and some sportsman appreciate a deeper understanding.
Of course with struggling operations, should they have the rest of the off-track business well enough positioned, some on-track success could be quite a boost.
