Richiebee,

I don't see racing collapsing either.

I see online betting as a long term bright spot unless Sen. Kyle manages to convince enough fools in Washington to screw things up (something I think is a very low probability event). UBET posted great Belmont numbers. IMO, the internet is a way to get at the younger crowd.

However, I do think the current economics are a mess. I think a price bust is virtually inevitable and the sooner it happens the better off the industry will be even though it will cause a lot of pain for some for awhile.

The average person wants to see stars, marquee matchups, etc...

If the industry economics don't allow that to happen, then the fan base will continue to erode, handle will not grow at the rate of people's incomes (let alone faster), and the game will be further marginalized. At the core of that is the economics of retirement vs. purses for racing (risks and rewards).