Re: Racing Don't Need This! (569 Views)
Posted by:
miff (IP Logged)
Date: September 11, 2015 09:57AM
Hi Paul,
Racing has lost $5billion of handle from it's peak. Elvis has left the building. Many theories advanced from the economy to track/OTB closures etc.It is without question that some portion of the decline in handle is attributed to other forms of gambling.Whether poker,the explosion of Casinos across the country or Fantasy Sports betting,racing's handle has already been affected.
Fantasy Sports betting has Wall St/private equity NFL NBA and major networks looking closely. Growth rate of FS still exploding and projections have it's growth potential near $7 billion within 5 years, can't be good for future racing handle.Racing handle projections all neutral at best,no real upside.
Racing will never go under but to think that FS,legal sports betting, new Casinos in major cities won't hurt racing handle is wishful thinking.The question really is how much.
Mike