 |
|
07-07-2009, 11:52 PM
|
#16
|
|
Traded By Cubs
Join Date: Feb 2003
Location: 2 miles north of Wrigley Field
Posts: 5,339
|
Hey, if they started the whole game and industry fresh tomorow or next month, they'd hopefully start with the latest & greatest techonology for mutual equipment, data transmissions, and updating the pools and allowing no possibility of past posting or fraud.
|
|
|
|
07-08-2009, 02:39 AM
|
#17
|
|
Registered User
Join Date: Aug 2003
Posts: 9,569
|
Tommorrow...
Hopefully USA lay betting, more progressive (carryover) type bets, a ticket invented to somehow bet all races involving 1 trainer or jockey on a racecard.
__________________
http://www.myspace.com/531434141
|
|
|
|
|
07-08-2009, 09:16 AM
|
#18
|
|
Registered User
Join Date: Jul 2009
Location: NJ
Posts: 3,822
|
No offense, but what is the point of talking about something that is impossible? Even if racing wanted to cut takeout to 12% at every track tomorrow, there are a million state and federal rules and regulations that mandate that this can't take place. I understand that the people in charge are clueless, but this is something they couldn't do if they wanted to.
|
|
|
|
|
07-08-2009, 09:47 AM
|
#19
|
|
Agitator
Join Date: Feb 2007
Location: Niagara Region, Ontario
Posts: 2,240
|
Quote:
|
Originally Posted by castaway01
No offense, but what is the point of talking about something that is impossible? Even if racing wanted to cut takeout to 12% at every track tomorrow, there are a million state and federal rules and regulations that mandate that this can't take place. I understand that the people in charge are clueless, but this is something they couldn't do if they wanted to.
|
Some jurisdictions actually could do it. In Canada for instance, there is no problem. Taxes paid out are only 1.3% of the bet here. And the government has stated that they don't care what tracks charge their customers.
|
|
|
|
|
07-08-2009, 11:14 AM
|
#20
|
|
Registered User
Join Date: Jan 2004
Location: The Big Apple
Posts: 4,252
|
Quote:
|
Originally Posted by Cangamble
Those behind the invention would be scared to have a takeout of anything over 10-12%.
Racing needs to start from scratch.
|
If pari-mutuel wagering was “invented” tomorrow it is my opinion that there would be a change in the take out percent from every dollar wagered and the various state authorities would not be “partners” to the gambling system as we know it today.
How would this happen? The state authorities might issue a fee-based license to the track operator/owner which would be renewable on a performance basis and the mutuel pool for the bettors would have a take out percent reduced by the track operator/owner to encourage wagering.
__________________
Independent thinking, emotional stability, and a keen understanding of both human and institutional behavior are vital to long-term investment success – My hero, Warren Edward Buffett
"Science is correct; even if you don't believe it" - Neil deGrasse Tyson
|
|
|
|
|
07-08-2009, 05:14 PM
|
#21
|
|
Registered User
Join Date: Jul 2009
Location: NJ
Posts: 3,822
|
Quote:
|
Originally Posted by Cangamble
Some jurisdictions actually could do it. In Canada for instance, there is no problem. Taxes paid out are only 1.3% of the bet here. And the government has stated that they don't care what tracks charge their customers.
|
Well, that's Canada...I know you are there, it's a fine place.  But U.S. states can't just lower the takeout, even if they wanted to.
|
|
|
|
|
07-11-2009, 07:42 AM
|
#22
|
|
Registered User
Join Date: Oct 2003
Posts: 43
|
if horse racing was invented tomorrow, the person inventing it would be told they were nuts.
"you wanna do what? Once every half hour you want to put midgets on horses, have them run around in a circle and have people bet on it. It'll never work"
As for the lower takeout, it won't happen in the US. Takeout is regulated by state and government is much more likely to increase their take than decrease it. Ellis Park tried a low takeout pick4 a couple of years ago to generate interest in the track. Today they open for their final meet before they close.
|
|
|
|
|
07-11-2009, 11:02 AM
|
#23
|
|
Agitator
Join Date: Feb 2007
Location: Niagara Region, Ontario
Posts: 2,240
|
Quote:
|
Originally Posted by Loserdave
As for the lower takeout, it won't happen in the US. Takeout is regulated by state and government is much more likely to increase their take than decrease it. Ellis Park tried a low takeout pick4 a couple of years ago to generate interest in the track. Today they open for their final meet before they close.
|
Do you really think there is a correlation there? Betfair has the lowest takeouts out there, and they are their growth has been astronomical.
|
|
|
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
|
