Great article, thanks for taking the time to write it.
I agree "safety" and "whats best for the horse" is a given, but to some immature people who don't understand how life works, this would be considered a success : "“If a horse safely races around a track but no one is around to see it….is that success?”.
These horses are bred and born to race, without racing, there are no thoroughbreds. Retiring horses or running then less is not what is best for the horse like the pollyanna people think.
The game is eating itself alive. Good luck to Repole, number one problem with racing is premature retirement of the top horses, so what does he do? Instead of giving Forte the winter off and bring him back next year, he retires him. He is a big part of the problem he is trying to solve.
It’s frustrating that so many can’t understand that much of what they are focused on could be far more easily dealt with if the industry was in a stronger position business-wise. There are so many dominoes in this game yet too often the last domino on the line is the one that gets all the attention, yet it takes many others to fall before we get to that last one. If those got the attention, the last one might not fall at all.
If you have followed me or listened to our weekly podcast, you’d be aware of a entire plethora of solutions. Of course the first step is admitting the problems that exist, which is the point where US racing currently sits.
The idea that somehow the messenger is the problem is always sadly amusing to me.
Excellent points. 1/ST racing's trying to address business issues -- poor ratings and handle for the Preakness -- with a phony "safety and welfare" argument is despicable.
Horseracing’s business model doesn’t work very well. The game does not generate enough revenues to sustain itself. When there is no money, no one is happy.
A major source of the problem is that horseracing has corrupted the very thing that makes it an interesting betting proposition. That “very thing” is the fairness of its parimutuel pools. Giving a large group of bettors an unfair advantage over the others has driven away the games core bettors and is preventing new ones from coming in. That has to be fixed immediately. With that fixed, the game could experience the growth of a surviving business. This is absolutely a necessity.
But, oddly that might not be enough to make the game prosper. The second and last recommendation is that all tracks should own and operate their own horseracing-based slots. Kentucky finally has done it and the rest of racing has to follow. Owning your slots is critical for making the game a thriving business. And it does not have the instability of the present day subsidy slot programs of many states.
Good points. The slots thing is never going to happen because there is no incentive for tracks with slots to switch, not to mention the laws that would have to be changed. The KY slots are just a workaround a KY law, they aren’t actually much different than regular slots which the tracks would likely rather have. They have just been able to recapture a ton of $$ that was flowing out of the state to casinos in neighboring states.
There is no difference between regular slots and horseracing based slots. It is just that different methods are used to create a random outcome (Random Number Generator). Some slots simulate roulette wheels, others use video lottery results and horseracing results are used as well. It has no affect on the slot player.
Horseracing based slots were recently passed in New Hampshire. There is little reason why they can’t be used in every state. Horse tracks can claim the rights and use them to supplement their revenues. It can be done!
If racing existed in a vacuum where everyone within the industry including most importantly, the tracks, were all focused on growth...I would agree. The issue of course is that several of the major racetrack companies seem to mostly give racing growth a cold shoulder (outside of the Kentucky Derby). It’s a strange and difficult to navigate situation that exists. In some ways the tracks have become huge impediments to growth yet it isn’t as though we (everyone else pro-racing) has much leverage to use.
It is as if horse track management has given up on the game. Maybe, it is just too painful for everybody to keep it going. I see this with many restaurants. If no one is happy, why keep it alive.
The idea with the horserace-based slots is to use the games assets to create additional revenues. It could be that the slots become an end in themselves rather than a means to finance the game.
Great article, thanks for taking the time to write it.
I agree "safety" and "whats best for the horse" is a given, but to some immature people who don't understand how life works, this would be considered a success : "“If a horse safely races around a track but no one is around to see it….is that success?”.
These horses are bred and born to race, without racing, there are no thoroughbreds. Retiring horses or running then less is not what is best for the horse like the pollyanna people think.
The game is eating itself alive. Good luck to Repole, number one problem with racing is premature retirement of the top horses, so what does he do? Instead of giving Forte the winter off and bring him back next year, he retires him. He is a big part of the problem he is trying to solve.
It’s frustrating that so many can’t understand that much of what they are focused on could be far more easily dealt with if the industry was in a stronger position business-wise. There are so many dominoes in this game yet too often the last domino on the line is the one that gets all the attention, yet it takes many others to fall before we get to that last one. If those got the attention, the last one might not fall at all.
You've stated IYO, the problems.
Cant wait to hear 20 or so paragraphs on your solutions
If you have followed me or listened to our weekly podcast, you’d be aware of a entire plethora of solutions. Of course the first step is admitting the problems that exist, which is the point where US racing currently sits.
The idea that somehow the messenger is the problem is always sadly amusing to me.
Excellent points. 1/ST racing's trying to address business issues -- poor ratings and handle for the Preakness -- with a phony "safety and welfare" argument is despicable.
Horseracing’s business model doesn’t work very well. The game does not generate enough revenues to sustain itself. When there is no money, no one is happy.
A major source of the problem is that horseracing has corrupted the very thing that makes it an interesting betting proposition. That “very thing” is the fairness of its parimutuel pools. Giving a large group of bettors an unfair advantage over the others has driven away the games core bettors and is preventing new ones from coming in. That has to be fixed immediately. With that fixed, the game could experience the growth of a surviving business. This is absolutely a necessity.
But, oddly that might not be enough to make the game prosper. The second and last recommendation is that all tracks should own and operate their own horseracing-based slots. Kentucky finally has done it and the rest of racing has to follow. Owning your slots is critical for making the game a thriving business. And it does not have the instability of the present day subsidy slot programs of many states.
Good points. The slots thing is never going to happen because there is no incentive for tracks with slots to switch, not to mention the laws that would have to be changed. The KY slots are just a workaround a KY law, they aren’t actually much different than regular slots which the tracks would likely rather have. They have just been able to recapture a ton of $$ that was flowing out of the state to casinos in neighboring states.
There is no difference between regular slots and horseracing based slots. It is just that different methods are used to create a random outcome (Random Number Generator). Some slots simulate roulette wheels, others use video lottery results and horseracing results are used as well. It has no affect on the slot player.
Horseracing based slots were recently passed in New Hampshire. There is little reason why they can’t be used in every state. Horse tracks can claim the rights and use them to supplement their revenues. It can be done!
If racing existed in a vacuum where everyone within the industry including most importantly, the tracks, were all focused on growth...I would agree. The issue of course is that several of the major racetrack companies seem to mostly give racing growth a cold shoulder (outside of the Kentucky Derby). It’s a strange and difficult to navigate situation that exists. In some ways the tracks have become huge impediments to growth yet it isn’t as though we (everyone else pro-racing) has much leverage to use.
It is as if horse track management has given up on the game. Maybe, it is just too painful for everybody to keep it going. I see this with many restaurants. If no one is happy, why keep it alive.
The idea with the horserace-based slots is to use the games assets to create additional revenues. It could be that the slots become an end in themselves rather than a means to finance the game.
Why continue with this game? Why not throw in the towel?
I may be a sucker but I’m not a quitter!
Tell your friend that I would gladly take any issues with Bobby Frankel. I'll pay postage, etc
I will