Sports Betting Poll. How can it help racing? Brick and Mortar only for 2 years?

[Hambletonian]

Monmouth is lucky. William Hill is by far the best of the Nevada providers, covering the most games, low bet limits, and the best mobile app. First half, second half, in play wagering, they offer it all.

And they will be first out of the gate.

[AlsoEligible]

Originally Posted by biggestal99

I heard 2020 for callie if at all. There are major roadblocks.

http://sacramento.cbslocal.com/2018/...ports-betting/

Needs 2/3 of callie legislators approval than the voters need to approve.


LOOOOONG process for callie

Allan

I don't know if it's that far away. The amendment is already written - https://leginfo.legislature.ca.gov/f...201720180ACA18 - and if approved by the end of next month, it could still make the November ballot for voters to approve.

The amendment itself is pretty bare bones; only stating that California would legalize sports betting, and gives power to the legislature to regulate where and how it's conducted. That shouldn't be hard to get a 2/3 vote on.

Then they have 6 months from now until November to hash out specifics, and get a more specific bill ready for passage as soon as the voters approve the amendment. In theory, CA could have sports betting in place by the end of the year.

Government can move astonishingly fast when they want to. I think the timeline really depends on how ugly the fighting is between the tribes, tracks, casinos, etc.

[castaway01]

The sports wagering money will prop up some tracks for a while the way that casino money did. Then eventually so many locations will have it that it won't matter anymore. Maybe it keeps racing going for a few more years in some places though. I guess that's good, though the way everyone here complains about racinos, not sure how a racebook would be so much better, but....good for Monmouth and other dying tracks anyway.

[chiguy]

I keep questioning why you are involved in this sport. Man you are relentless in your negativity.

[biggestal99]

The nfl had to put up 3,400,000 when they first brought the lawsuit against Monmouth back in 2014, Maybe the courts will release that to Monmouth soon for purses.

Allan

[HalvOnHorseracing]

Originally Posted by Valuist

From what I've heard the Indian casinos in California will be making a big push. They hold a lot of power in the state.

Arizona too. Nobody in the Arizona legislature would get that worked up about it either.

[GMB@BP]

Originally Posted by HalvOnHorseracing

Arizona too. Nobody in the Arizona legislature would get that worked up about it either.

Indians run arizona, its why we have no internet wagering.

[Andy Asaro]

http://www.drf.com/news/california-s...ovember-ballot

Excerpt:

California is just beginning the process required for state and regulatory approval and may not vote on the measure until 2020, according to Adam Capper, legislative director for Assemblyman Adam Gray.

Excerpt:

Entities such as racetracks, account-wagering providers, card clubs, Native American casinos, European bookmakers, and sports fantasy websites are among the groups expected to seek licenses to conduct sports betting.

Greg Avioli, president and chief executive officer of Thoroughbred Owners of California, said his organization is hoping to restrict the number of groups allowed to accept sports bets to racetracks, offtrack satellites, card clubs, and Native American tribes in an effort to draw customers to existing betting locations.

“That could provide significant reason to come to our facilities,” he said.

[dilanesp]

Originally Posted by Andy Asaro

http://www.drf.com/news/california-s...ovember-ballot

Excerpt:

California is just beginning the process required for state and regulatory approval and may not vote on the measure until 2020, according to Adam Capper, legislative director for Assemblyman Adam Gray.

Excerpt:

Entities such as racetracks, account-wagering providers, card clubs, Native American casinos, European bookmakers, and sports fantasy websites are among the groups expected to seek licenses to conduct sports betting.

Greg Avioli, president and chief executive officer of Thoroughbred Owners of California, said his organization is hoping to restrict the number of groups allowed to accept sports bets to racetracks, offtrack satellites, card clubs, and Native American tribes in an effort to draw customers to existing betting locations.

“That could provide significant reason to come to our facilities,” he said.

Of course that's what the TOC is going to say.

Isn't the relevant issue what is convenient to the people in California who want to bet on sports, though?

[Andy Asaro]

Originally Posted by dilanesp

Of course that's what the TOC is going to say.

Isn't the relevant issue what is convenient to the people in California who want to bet on sports, though?

Daruty said the same thing. It's the only way it benefits horse racing as an opportunity to convert at Brick and Mortar for a couple years.

[Andy Asaro]

Barry Meadow sent me his article. I sent it to the email list so I'm also posting it here.

http://www.trpublishing.com/wp-conte...ts-Betting.pdf


May 2018 – Legal Sports Betting It’s been amusing to me to hear the comments from racing executives about the Supreme Court’s decision to permit states to offer legal sports betting.

Almost nobody has claimed this will be a big boost to horse racing. Instead, their comments have mostly been about staking out territory. Their position: If sports betting is to be allowed, it should be permitted only at venues that already have facilities that take bets. In other words, at our place.

Casinos want the action. So do card rooms. So do sports bars. And just about anybody else who thinks they can make a buck at this.

Each state is free to make its own rules, so about the only thing you can be sure of is that interested parties will be laying lots of cash into the hands of politicians to support their case. With so many interests jockeying for position, it will be quite entertaining to see the various ways that this all plays out.

Only one thing is clear—it’s going to be a long, torturous road before major changes come to American gambling life. In the states where you will have to travel to make a bet, as distinct from using a phone app, the money the states will make from sports betting figures to be way less than the hype you may read. Millions of Americans are quite content to bet with their neighborhood bookie, or some Caribbean online casino, and have no interest in driving an hour to bet $50 on the Patriots.

Then there’s the fact that sports betting is not the cash cow that some think. In 2017, Nevada racebooks accepted more than $4.8 billion in bets and won, as is typical, 5%. Total earnings from the state’s racebooks were a bit shy of $249 million—which averages out to $1.3 million for each of the state’s 183 books. Of course the larger books won many millions, while the tiny ones in rural backwaters took in relatively little. Still, when you figure what it costs to build the book and the betting infrastructure, and pay the salaries of the workers, sports betting is hardly the backbone of Nevada gambling. It’s everywhere, yet still accounts for just 2.1 percent of the state’s gambling win. And that’s before what may take place with widespread legalized sports betting—a requirement to pay each sport approximately 1% of the action on their games, which is either going to narrow the margins further or wind up as an extra tax on players.

Horse racing is pretty much a non-factor in Nevada. In 2007, sports betting handled $2.6 billion compared with $596 million for horse racing; in 2017, contrast that aforementioned $4.8 billion on sports with the measly $280 million in horse-racing handle.

So it’s probably fair to conclude this: People want to bet on sports. They don’t want, so much, to bet on horses. If it turns out that racetracks will be allowed to accept sports bets, things will probably turn out the way they have for racetracks which have been allowed to add slot machines—people come for the slot machines and there’s virtually no crossover into horse betting. Yes, increased profits will probably mean higher purses, but so what—in places like Pennsylvania where slots have boosted purses, the takeouts are still usurious and there’s been no apparent benefit to horseplayers.

Sports betting might be much more of a threat, particularly as gamblers figure out that sports bets offer a 5% takeout compared with horse racing’s 20%. So, maybe, as some believe, sports betting will help horse racing. Maybe, but helping horseplayers? Don’t think so.

[thaskalos]

Basically...Barry Meadow is repeating what I've been writing here.

[Andy Asaro]

Twitter

Screw the exclusive for the Indians, unless they’re willing to offer the Customers a deal the same as Vegas when it comes to the juice. Screw the Tracks if they want it and want to raise the price of a bet.

[Andy Asaro]

Did you know? Nevada style casino operated inside the Nevada State Prison for 35 years

Twitter

That's as "Brick, Mortar, and Steel" as it gets.

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Last edited by Andy Asaro; 05-20-2018 at 04:58 PM.

[LemonSoupKid]

Originally Posted by Andy Asaro

https://twitter.com/racetrackandy/st...87443567697920


Screw the exclusive for the Indians, unless they’re willing to offer the Customers a deal the same as Vegas when it comes to the juice. Screw the Tracks if they want it and want to raise the price of a bet.

Haha, let's see, I think you can easily foresee which states will mismanage this the best (worst), and silliest ways ... hmm, lemme guess, California, New York, and Illinois.

I wonder why that was so easy to predict.