Tracknet Poised To Cut Off Nevada

[trigger]

http://news.bloodhorse.com/article/4...648&source=rss

[LottaKash]

Pay Nevada, you've got it......... ......we pay and we don't got it.....

[Canadian]

Does tracknet have a point though? 3% is pretty bad to have to work with.

[cj]

Originally Posted by Canadian

Does tracknet have a point though? 3% is pretty bad to have to work with.

Do you think Vegas is taking customers away that would otherwise go to the track?

[lamboguy]

vegas adds to the handle. a husband and wife go to vegas, she plays the slots he plays the horses type goes on all the time. also you have a bunch of degenerates that have lived in the desert for years they step up to the plate there.

if they lose their signals they will book the action and hypothetically it won't go back to the mutual pools. try beating them a few times and see if they will book your action any longer?

[miesque]

Originally Posted by cj

Do you think Vegas is taking customers away that would otherwise go to the track?

That is a very salient point. Pari-mutuel racing revenue from Las Vegas is pretty much found money for racetracks and horsemen, they should be thrilled that Vegas will accept such low margins on their wagering product relative to what the same square footage and staff could yield from other gambling products, especially slots. The reason I say that is that many of these individuals placing pari-mutuel wagers in Vegas would be wagering on slots/craps/blackjack instead if race wagering were unavailable. Also its not like these individuals can visit a local racetrack and place their bets instead because there are no racetracks in the Vegas area (I think there might be restrictions on online wagering in Nevada since its economy is so casino driven, but I could be wrong). Furthermore, the presence of racebooks in Vegas at least offers a modecum of exposure for racing as far as its at least its on the menu of potential wagering items/gambling exposure at least as far as Joe Q Public from Middleofnowhere USA wondering through a casino is concerned, definitely moreso then if there were no Racebook activities in a casino.

In addition, its important to remember that as it stands now, racebooks are barely making the cut in terms of the level of returns that casino management is looking for, its the least profitable gambling action they offer. To be blunt, Vegas does not need horse racing to remain in business by any means.

[boomman]

Originally Posted by miesque

That is a very salient point. Pari-mutuel racing revenue from Las Vegas is pretty much found money for racetracks and horsemen, they should be thrilled that Vegas will accept such low margins on their wagering product relative to what the same square footage and staff could yield from other gambling products, especially slots. The reason I say that is that many of these individuals placing pari-mutuel wagers in Vegas would be wagering on slots/craps/blackjack instead if race wagering were unavailable. Also its not like these individuals can visit a local racetrack and place their bets instead because there are no racetracks in the Vegas area (I think there might be restrictions on online wagering in Nevada since its economy is so casino driven, but I could be wrong). Furthermore, the presence of racebooks in Vegas at least offers a modecum of exposure for racing as far as its at least its on the menu of potential wagering items/gambling exposure at least as far as Joe Q Public from Middleofnowhere USA wondering through a casino is concerned, definitely moreso then if there were no Racebook activities in a casino.

In addition, its important to remember that as it stands now, racebooks are barely making the cut in terms of the level of returns that casino management is looking for, its the least profitable gambling action they offer. To be blunt, Vegas does not need horse racing to remain in business by any means.

Miesque: Not only is your post extremely accurate, but the last sentence hits the "nail right on the head". I spoke to one racebook manager I know in Vegas who said that he was under constant pressure to turn more revenue in the racebook via promotions, etc. or risk losing the square footage to other gaming. For tracknet to think that Vegas will move on this issue is asanine, especally given the dispute Vegas had over a 1/2 percent increase many years ago. This is EXTRA income for the tracks and horsemen, and the industry takes a GIANT step backward (again) if they don't settle this quick. Vegas will simply book the action and take the $$$ out of the pools. This is not rocket science!

Boomer

[miesque]

Originally Posted by boomman

Miesque: Not only is your post extremely accurate, but the last sentence hits the "nail right on the head". I spoke to one racebook manager I know in Vegas who said that he was under constant pressure to turn more revenue in the racebook via promotions, etc. or risk losing the square footage to other gaming. For tracknet to think that Vegas will move on this issue is asanine, especally given the dispute Vegas had over a 1/2 percent increase many years ago. This is EXTRA income for the tracks and horsemen, and the industry takes a GIANT step backward (again) if they don't settle this quick. Vegas will simply book the action and take the $$$ out of the pools. This is not rocket science!

Boomer

What I personally find so flabbergasting is that this is one of several recent incidents whereby the leadership (and I use that word loosely) of a particular group in racing miserably fails to understand the strength/weakness and bargaining range of their opponents when they decide to "make a stand" and of course the result is a total mess helping nobody. I mean one of the very basic rules of strategy/warfare is to fully understand your opponent and know how your strengths and weaknesses compare with theirs and your actions are deemed either foolish or courageous based on those factors.

[lamboguy]

vegas will not get rid of horseracing. it is to big a draw. if they have to they will book it. horseracing puts people in the place reguardless if they make money or not. i hear the casino's are empty these days. casino's can't afford to dump horseracing. even though for the amount of space it takes to run a racebook operation compared to slot machines is less cost effective. they have to find bodies to stand infront of the slots.

also when they have handicapping tournaments their race betting handles goes way up. its like when they have championship fights, all the black jack tables turn into $100 minimums.

[miesque]

Just for look at some numbers to take a look at exactly where Racebook activities fall in terms of the various games in casinos, the below link is a report of the 2007 Statewide Nevada Gaming Wins for all the different categories from UNLV. The first thing to note is that the consolidate Win amount for Racebook activities is only $94.3 Million at at Win Percentage of 15.80% versus $12.8 Billion total Gambling Win. Based Win money, Racebooks accounted for 0.74% of Total Gambling Win in the State of Nevada.

http://gaming.unlv.edu/media/2007_NV_gaming.pdf

[David-LV]

Las Vegas casino's have been paying way to little for a long time for the signals.

The tracks and owners own the content and should be payed a rate that is fair to everybody.

Don't ever think that these Casino's don't need horse racing, it puts bodies in the building that bet sports, play slots, play table games, & eat food at their resturants and food concessions.

If they house book these tracks without a TV signal business will drop off big time.

The casino's need these tracks to be pari-mutual a lot more then the tracks need these casino's not paying a fair rate.

_______
David

[Charlie D]

A casino has Roulette, Cards, slots, probably every game you can think of. Remove one as the idiots from Tracknet are threatening and the the money just goes elsewhere


When will these people learn that shutting off, restricting access to signal does not help them one iota

it just probably contributes in turning people away for good

[Charlie D]

Not many moons ago no one in UK had seen a NFL game, it was shown on TV

They now play games at Wembley to sell out crowds


Not many moons ago, no one was really interested in racing from Dubia

People look forward to watching and betting on these races now


Why?? acesss, access, access

[David-LV]

Originally Posted by Charlie D

A casino has Roulette, Cards, slots, probably every game you can think of. Remove one as the idiots from Tracknet are threatening and the the money just goes elsewhere


When will these people learn that shutting off, restricting access to signal does not help them one iota

it just probably contributes in turning people away for good

If you made or mfg a product, would you not want to receive a fair price for it?

The casino's have been paying bargin basement fees for the signals for years and years with minimal and limited expenses.

Sooner or later these tracks and owners have to take a stand and receive what they think is a fair rate for their product.

_______
David

[Charlie D]

DV


Holding people to ransom does not help the US racing industry as the Cal, Flad block showed

Horsemen, ADW's, racetrack lost money


These people need to learn from thier mistakes