A VERY sobering article on the realities of the 'Racino' and how the racing part of the equation is not keeping up with the casino end of the business. I suppose that with so much info on racing and so many potential races to bet it is much more overwhelming and confusing that just shoving a twenty dollar bill into a slot machine and being in action in seconds. I wonder every day how racing might once again be restored to its glory days…
Here are excerpts from the article from the Miami Herald: For the complete article, go to http://www.miamiherald.com/2010/12/26/1989538/horses-losing-to-slots.html
They will never catch up, said Bob Jarvis, a law professor at Nova Southeastern University and an expert on gambling and sports. Horse racing had its heyday, as did knights and milkmen, but will probably be extinct within 20 years.
Jarvis posits that horse racing, dog racing and jai alai were created for the purpose of gambling. As gambling options proliferated over the past two decades with Indian gaming palaces, poker rooms, lotteries, online betting-you can even bet on when an NFL quarterback will throw an interception — people lost interest in Florida's traditional parimutuels…
The shotgun marriage means owners such as Churchill Downs, the corporation that runs Calder, have no incentive to invest money in racing. The gleaming new casino is the main act; the racetrack is an afterthought. Calder also has its Studz Poker Room. Churchill Downs even makes a bigger profit off an online bettor than one who comes to the track.
Posted via email from Michael Pizzolla On ValueCapping™, Horse Racing, And Technology
