Asfuth-- clearly the horsemen (and the groups that represent them) have to protect their interests, and since my deals with them are based on percentage of revenue that has ramifications with me as well. But:

1-- rebates clearly get players to bet a LOT more than they otherwise would. If they are not available, the money won't be going through racetrack windows-- it will either go someplace where it is held, or disappear from the game.

2-- the bettors have been subjected for a long time to a takeout that is ridiculously high, and they (we) have interests of our own to protect as well. Everything that is happening now will reshape the game over the next few years, and there will be blood on the floor along the way. Ultimately the invisible hand will cause tracks to cut out middle men, pay higher purses, and get government (the elephant in the living room no one is talking about) to take a smaller share of a bigger pie. But it will be a process, and it will take time.



TGJB