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12-15-2021, 04:10 PM
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#1
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Registered User
Join Date: Mar 2020
Posts: 197
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How Can We Fix Horse Racing?
Thank you to all who chimed in with their opinions about what should be done to fix horse racing.
Here is part 1 of "How Can We Fix Horse Racing?"
Let us know your thoughts.
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12-15-2021, 04:33 PM
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#2
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Registered User
Join Date: Mar 2017
Posts: 5,800
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God Bless you guys for trying and I'm not trying to discourage you but you kill me within 10 minutes.
Focus
To grow the game you have to have a parallel marketing strategy of entertainment and gambling game of skill. The Gambling Game of skill marketing strategy has never existed nor is anyone planning on doing it. That's why Horse Racing is not more mainstream than it is now.
People have liked to gamble since the beginning of time. We know they also like Gambling Games of skill. Sports betting is a gambling game of skill. Even Golf embraces gambling. But Horse Racing? Mention that strategy and it's like throwing holy water on a demon in a movie. They will do anything they can to NOT to do it. Why?
You begin with lowering take on WPS and Exactas and paying penny breakage on those wagers combined with a Gambling Game of Skill marketing strategy. Monitor the handle and revenue and make adjustments to the takeout as necessary. My starting suggestion would be to eliminate all rebates on WPS and Exactas so you can get to 12% WPS takeout and 15% exacta takeout. if after a couple months it needs to be adjusted up a little I'm good with that. If it can go down more I'm good with that too.
There is nothing more entertaining for me than to be at Santa Anita on opening day with a great table outside gambling on some decent field sizes and some quality races.
Has anyone EVER heard a marketing department from a major racetrack put up an ad saying "At Santa Anita on December 26th we will be paying out about 10 million dollars to the gamblers. Come to Santa Anita to test your skill and your luck to take home your share of the 10 million dollars"
Simple yet nobody does it.
Focus on the big ideas because once handle and revenue rise many of the other problems go away
Good luck
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12-15-2021, 04:41 PM
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#3
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Registered User
Join Date: Mar 2017
Posts: 5,800
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By the way I went to the Racing Symposium in Arizona this past week.
By far the best thing I heard was Byk lighting it up on the radio to begin his show Tuesday morning at the symposium. Most other things I'd rather stick needles in my eyes.
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12-15-2021, 05:40 PM
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#4
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,911
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Yo, Clowns!
First, I've watched a few of your shows and just really enjoy them.
Frankly, I just don't have time to watch video very much but yours is top notch!
As for how to fix racing, the number one problem is that racing does not actually think it needs to be fixed.
Sure, they want more revenue - and that comes from... wait for it... GAMBLING!
Yet the insist on saying that the customer in racing is THE HORSE OWNER!
Not joking. During a consulting gig with some track management a few years ago, I opened with that question: "Who is the customer?"
The answer I got was, "The Horsemen, because they provide the horses."
When I pointed out that the bettor supplies the MONDY, the response was, "Oh, I guess I can see your POV."
So, THAT'S first.
What do you think?
Dave
PS: Please forgive me for not having watched this video YET. I shall endeavor to watch it soon.
Andy:
Your comments are always appreciated.
Did anything positive get proposed at the symposium?
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12-15-2021, 06:00 PM
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#5
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,861
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__________________
Who does the Racing Form Detective like in this one?
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12-15-2021, 06:49 PM
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#6
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Registered User
Join Date: Jan 2006
Posts: 28,551
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The horsemen are taking the lion's share of the money out of this sport. How can they be the "customers"?
__________________
"Theory is knowledge that doesn't work. Practice is when everything works and you don't know why."
-- Hermann Hesse
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12-15-2021, 06:50 PM
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#7
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Registered User
Join Date: Mar 2005
Location: Queens, NY
Posts: 20,610
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IMO, horseplayers and owners have both a symbiotic and competitive relationship that's hard to maximize. We need both more successful gamblers and owners to encourage both to put more into the game.
Owners have to be able support their operations or they won't buy more horses.
Horse players have to feel like they have some chance of being profitable or they'll quit the game.
We want to create an upward self reinforcing cycle of more horses, more gambling dollars, extra free cash to lower the take and raise purses, even higher purses, drives even more demand for horses, create even larger fields, creates even higher handle, allows for an even lower take and so on.
You can't rob Peter to pay Paul.
__________________
"Unlearning is the highest form of learning"
Last edited by classhandicapper; 12-15-2021 at 06:53 PM.
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12-15-2021, 07:04 PM
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#8
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Registered User
Join Date: Mar 2017
Posts: 5,800
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Quote:
Originally Posted by Dave Schwartz
Yo, Clowns!
First, I've watched a few of your shows and just really enjoy them.
Frankly, I just don't have time to watch video very much but yours is top notch!
As for how to fix racing, the number one problem is that racing does not actually think it needs to be fixed.
Sure, they want more revenue - and that comes from... wait for it... GAMBLING!
Yet the insist on saying that the customer in racing is THE HORSE OWNER!
Not joking. During a consulting gig with some track management a few years ago, I opened with that question: "Who is the customer?"
The answer I got was, "The Horsemen, because they provide the horses."
When I pointed out that the bettor supplies the MONDY, the response was, "Oh, I guess I can see your POV."
So, THAT'S first.
What do you think?
Dave
PS: Please forgive me for not having watched this video YET. I shall endeavor to watch it soon.
Andy:
Your comments are always appreciated.
Did anything positive get proposed at the symposium?
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I think everyone who's trying to change the Industry for the better should go one time. I may go back under the right circumstances. However most people attending are disappointed
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12-16-2021, 10:13 AM
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#9
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Registered User
Join Date: Apr 2019
Posts: 518
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I have my own thoughts on how to do it but the sport needs to break Kentucky’s stranglehold on breeding. Anything else is lip service
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12-16-2021, 11:52 AM
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#10
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clean money
Join Date: Sep 2006
Location: Maryland
Posts: 23,559
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Something to be said about fostering the 'community'.
Culture is one of the missing links with room to grow.
Many players enjoy a social inclusion, camaraderie. Being a sports fan is a very psychologically healthy activity.
Technology has separated the culture and the fans. Room to capitalize.
__________________
Preparation. Discipline. Patience. Decisiveness.
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12-16-2021, 12:26 PM
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#11
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Registered User
Join Date: Aug 2012
Posts: 8,798
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Ask Bob Baffert. He's very good at fixing races....
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12-16-2021, 02:41 PM
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#12
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clean money
Join Date: Sep 2006
Location: Maryland
Posts: 23,559
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Quote:
Originally Posted by dilanesp
Ask Bob Baffert. He's very good at fixing races....
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Yea, ask Bob if he's willing to be the scapegoat
__________________
Preparation. Discipline. Patience. Decisiveness.
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12-16-2021, 04:34 PM
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#13
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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First thing to do is get a Management Team to take control of ALL US Racing and take it away from the Politicians...
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12-16-2021, 07:52 PM
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#14
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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Just got this this evening......
We are not the f^&king people that you should be going after....
How dumb can you be....?????
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12-16-2021, 08:02 PM
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#15
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Registered User
Join Date: May 2004
Posts: 7,333
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Quote:
Originally Posted by geroge.burns99
Just got this this evening......
We are not the f^&king people that you should be going after....
How dumb can you be....?????
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OK, I'll bite. Why shouldn't we send that to customers? Should we hide that we are doing that? I don't understand.
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