Personally, I've never understood the economics of horseracing. An extremely high percentage of all the participants lose money or can't make a decent living regardless of what segment of the industry they are in.

I'll especially never understand why the prices of horses are so high given that most owners are getting buried.

I thought that by now the prices of horses would reflect the risks of ownership closely enough that most competent owners would be able to get a reasonable return on their money (at least in aggregate if not individually).

I thought that with all the high tech ways of betting these days that many weak racetracks would be closed down.

I thought track takes would reflect the modern competition for the gambling dollar.

Horseracing has to be one of the few industries where almost everyone is losing money and few adjustments are made by the market place in terms of sound economic and business practices.



Post Edited (02-26-05 14:13)