Re: Racing Don't Need This! (500 Views)
Posted by:
P-Dub (IP Logged)
Date: September 11, 2015 12:30PM
miff Wrote:
-------------------------------------------------------
> 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
It hurts to an extent. Not saying it doesn't.
I'm saying these other forms of gambling aren't the issue. We aren't cultivating new customers. Its been dropping long before Fantasy Sports came along.
And agree with Bull, the takeout doesn't help matters.
Its declining because those in charge haven't a clue. Blaming other forms of gambling is taking away the focus of the real problem. The decision makers of racing.
P-Dub