Re: Should it be legal? - Another view (432 Views)
Posted by:
fkach (IP Logged)
Date: August 02, 2007 10:53PM
miff,
Personally, I wouldn't have a problem if there was a dramatic reduction in the sport that resulted from the elimination of drugs. I think the sport is absoluting begging for a dramatic reduction anyway. The economics suck as they exist now.
In the era of internet and simulcast wagering, we don't need dozens of uneconomic racetracks diluting the total gambling pie and being supported by slot machines when the land and properties could be put to much better use. All we need are small simulcast facilties and broadband in every home.
If we closed all the uneconomic tracks, I'd be willing to bet that most of the gambling dollars would simply be redirected towards the remaining viable tracks in high population areas and vacation spots (Belmont, Saratoga, Del Mar, Santa Anita, Gulfstream, Arlington, Churchill, Keeneland etc...). The pools would be gigantic, the purses enormous, the money available to invest in the facilties monstrous. Even the fields would be large because the horse population wouldn't be so diluted. Heck, the purses might be so large if a successful 3YO sneezed the owners might not retire him. There might even be some room to cut the take because of the economies of scale.
Granted that a shrinkage like that would be painful to all the losers, but the consolidation of any overextended industry is painful until you get to the other side where the returns are higher and the remaining businesses are strong and profitable.
I'm not saying we should throw in the towel on the industry, but times have changed.