Re: Rebates OP-ED (605 Views)
Posted by:
asfufh (IP Logged)
Date: March 08, 2004 03:11PM
While there is no doubt that rebates are legal, it's my understanding that the use of non-track account wagering sites and some non-track OTB sites to gain rebates means that upwards of 85% of the takeout of the total amount bet by rebatees does not reach the tracks(except if bet through TVG and Youbet) and consequently does not reach the horse owners,trainers,jockeys,etc. via higher purses. If this is so, while the rebatee gets a break and that's ok, I'm wondering about the validity of TG's implication that the current MEC/TB rebate agreement benefits horse racing in general via increased handle.
If my math is correct, the host and simulcast horse tracks get just as much take out from an on-track handle of about 1/6 of a rebated handle. This would mean that rebating would need to increase a rebatee's handle by 6 times to keep the tracks even.