As was pointed out in one of the earlier posts the issues regarding rebates are much too complex to be covered in one letter.
But, TGJB, I think it’s a fundamental mistake to look at a need for lower takeouts and rebates as two sides of the same coin.
I know in the broadest sense they both are ways to put more money in the pocket of the bettor, but in reality they are two distinct issues, each with their own politics, representing two different views on how to grow they game. And inevitably, Racing, will have to make a choice between the two approaches.
Reduced takeouts seems to me the sporting method of making Racing a better game both by improving the playing field and increasing the reward for hard work. Rebates, on the other hand, might be the pari-mutuel equivalent of an athlete using steroids.
Obviously rebates will pump up handles. But at what long term cost?
Indeed, the creation of an economic system wherein rebates can thrive (especially off-track) might be the most shortsighted action of an Industry known already for its nearly perfect 20/20 shortsightedness.



Post Edited (03-10-04 16:41)