Is America the problem with the racing industry?

[Imriledup]

I was thinking about how hard all of us have been on the racing industry, but maybe the problem isnt' the actual industry and its the US government. Think about how US residents are not allowed to be customers of Pinnacle or Betfair. With these incredibly high takeouts and no fair trade, its really hard for the game to breathe. Should trainers, jockeys, owners and gamblers just pay all their extra money to the government in order to compete in this industry for the available dollars?

Other than just a few people, most people in this game are breaking even or losing. Everything in this game is taxed, double taxed and triple taxed. I'm not suggesting that you shouldn't pay taxes, but why bother working your hiney off in this game to break even? Bums who hang out on the highway medians of America make more money than honest citizens in the racing game.

There just seems to be too many politicans who are involved in 'protecting the children' and that's why American's can't bet like residents of other countries.

I just checked Pinnacle and there is a spread up for next week between the Giants and Ravens. One side is -106 and the other side is -102. If you want to bet in Las Vegas, you have to pay -110 on each side. The Pinnacle bet is a 4% takeout while Vegas charges you 10. No wonder why the US Govt doesnt' want their residents betting with Pinny or Betfair, who would bet in Vegas if that was the case? Why take -110 when a company that's not based in America is offering the bet at -104? And the racing industry wonders why no one wants to make a win bet on an even money shot at -117. A bet on an NFL game with Pinnacle had a 4% takeout, a bet on an even money shot at an American racetrack has a 17% takeout.

If America permitted their residents to bet with these overseas companies, the racing industry would suffer even more which would mean that they would be forced to price their product according to the market.

America, the land of the free and the home of the brave. Great country to live in, but seems like a bad country to live in if you are really serious about making extra income in the gambling industry.

[highnote]

Can you say "lobbyist"?

[Overlay]

Originally Posted by Imriledup

If America permitted their residents to bet with these overseas companies, the racing industry would suffer even more which would mean that they would be forced to price their product according to the market.

I admire your optimism, but if the industry hasn't gotten the message yet, I doubt they would.

[Indulto]

http://www.paulickreport.com/blog/the-big-question-can-racing-survive/
THE BIG QUESTION: CAN RACING SURVIVE?
By Ray Paulick

The challenges that confront racing seem to be the sport’s universal language, and potential solutions, it seems, are similar from one continent to another. …

… “It must be a winning proposition for all stakesholders,” Englebrecht-Bresges said, including customers, governments and operators. …

… Racing must exert influence on the regulatory side, he said, because “the integrity of the sport is a fundamental issue. …

… the industry must facilitate the sharing of best practices in racing and in other outside industries by bringing together stakeholders who have common interests.

… bigger organizations must mentor smaller organizations, especially those countries who are in the early stages of expanding their racing and/or breeding industries.

… we have to offer different value propositions.”

… those value propositions are predicated on knowing what customers want, especially new customers that racing needs if it is to survive. …

… Non-racing fans see no relevance in the current racing schedule/fixtures, programs and bet types; much of the activities are not appealing to young people, women, families, and the middle class. Racing lacks innovation, and has a poor approach to its “channel strategy” and customer loyalty programs. Furthermore, he said, industry fragmentation is a key reason for slow response to the challenges.

… racing is “catering to its current customers” through its web sites, where new customers “get lost. We need an integrated channel strategy” that will appeal to existing, new and potential customers, he added.

… racing must reach the next generation, but that the strategy of attack must be powered by customers, especially the new customers with which the industry must learn how to better communicate. …

Tasmania has shown the way, surely someone in USA could follow up and increase their profits for zero effort. Betfair profits from Far East mega-customers go into Oz and UK, as well as racing.

http://www.latestcasinobonuses.com/a...ing-of-profits

"Horseracing in Tasmania has produced record turnover of A$ 498 million for 2007/08 - up an impressive 30 percent compared to the previous year - and it's largely due to a deal with betting exchange company Betfair, which brought in business from outside Australia, reports the Thoroughbred Times.

TOTE Tasmania's annual report, tabled in Parliament last week, said most of the growth was generated from international customers betting via their online and telephone accounts.

Pari-mutuel wagering totalled A$478 million, up 27 percent compared to last year, with an estimated 70 percent of this growth generated by international customers. TOTE Tasmania's agency arrangement with Betfair provided the company with access to the betting exchange's global customer base of over a million punters and substantially added to the pari-mutuel pools.

In other results, sports betting turnover increased by A$11.8 million, broadcast income through TOTE Sport Radio increased by 11 percent and on course turnover increased slightly as a result of a very strong AAMI Tasmanian Summer Racing Carnival.

TOTE Tasmania chairman Michael Kent said the company distributed a record A$23.7 million to the Tasmanian Racing Industry in 2007/08, up from $20.4 million in 2006/07, confounding the opinion of opponents that Betfair was bad for the traditional horseracing business. He said that TOTE Tasmania is thinking locally and acting globally.

"The industry needs to ensure Tasmanian racing has the widest appeal possible, to both a national and international audience, and can capture opportunities as they present themselves," he concluded."