| Ok folks, it's time to break out the shovels to | | | | 0.5% of handle go? Our best guess is that you'll |
| bury horse racing, again. | | | | find that, and much more, going to the |
| We came across an article on written by Bill Finley | | | | enterprising non-pool race and sports books that |
| entitled "2005 was a lousy year for horse racing." | | | | have cropped up to better serve today's horse |
| In his article Mr. Finley cites 9 reasons why 2005 | | | | racing fans. Most of these on-line books offer full |
| was such a bad year for horse racing in America. | | | | track odds, signup bonuses, cash back on wagers, |
| Although we agree with several of his | | | | and give refunds for scratches, instead of forcing |
| observations, number 8 on his list, "U.S. Pari-Mutuel | | | | the bet to the track favorite. Oh, and did we |
| Handle Falls", should have been dealt with more | | | | mention that most don't impose taxes of any |
| objectively. | | | | sort on winnings. |
| Despite all the cries of gloom and doom that have | | | | In addition to offering the full menu of track bets, |
| been ongoing since the unfortunate decision in the | | | | i.e., Win, Place, Show, Daily Doubles, Exactas, |
| fifties to reject television's offer to broadcast | | | | Quinellas, Trifectas and Superfectas, some have |
| horse racing nationally, the sport has continued to | | | | started offering additional types of wagers such |
| grow. Second only to baseball in overall popularity, | | | | as a two horse match bet. This, in our opinion, is |
| horse racing enjoyed 11 straight years of | | | | the most significant opportunity for horse racing |
| increasing handle (total amount of pooled wagers) | | | | today. In an era where proposition bets on |
| before this bemoaned 0.5% decrease. According | | | | football range from the point spread to which |
| to Mr. Finley, "an ominous sign of things to come." | | | | way the wind will be blowing at half time, horse |
| Yes, horse racing does have its problems and | | | | racing is missing the boat. They've failed to |
| challenges, but it also has a lot going for it. It's the | | | | recognize what Las Vegas has known for some |
| only sport offering legalized wagering in the | | | | time, namely that gaming is entertainment and |
| majority of the United States and across most of | | | | that the way to increase 'handle' is to offer more |
| the world. Why it's even legal to bet on horse | | | | types of wagers. This year's Superbowl offered |
| racing in China where basic human rights are hard | | | | over 300 proposition bets resulting in a record |
| to come by. | | | | setting day for the Las Vegas sports books with |
| The advent of simulcasting in the nineties made it | | | | over 94 million dollars wagered. To put that into |
| possible for tracks to increase their own handle | | | | perspective, that's about .6% of the 15 billion |
| while boosting their revenues by accepting wagers | | | | dollars wagered annually on horse racing. |
| on races from other tracks. Legalization of | | | | Successful horse race wagering takes a degree |
| off-track betting facilities, phone wagering and | | | | of skill and research. Unlike most sporting match |
| internet wagering has created a climate where | | | | ups where you have a fifty-fifty chance of |
| over 87% of the handle is now generated | | | | winning by random choice, with an average field |
| off-track. This may hurt race tracks' hot dog and | | | | of 8 horses, the horse player only has a 12.5% |
| popcorn sales, but should lead to increased | | | | chance of winning by chance. Let's put fun into |
| profitability. | | | | the sport for the casual fan. A two horse match |
| Several states have enacted legislation allowing | | | | up takes wagering on horse racing back to its |
| slot machines and other forms of gaming | | | | earliest and simplest form; "I bet my horse can |
| on-track. Tracks such as Mountaineer have used | | | | beat yours!" But there's no need to stop there, |
| this additional source of revenue to improve their | | | | horse racing offers a myriad of options for |
| facilities, increase their purses and upgrade their | | | | wagering; which horse will be in the lead at each |
| overall level of racing. This legislation has also | | | | point of call, which jockey or trainer will have the |
| made it attractive for casino owners, such as | | | | most wins for the day, and how about betting a |
| Harrah's, to purchase and operate horse racing | | | | horse to lose. These are just a few options that |
| venues as a part of their business strategy. | | | | come to mind. |
| So what is wrong with horse racing? Well, for lack | | | | Horse racing's traditions give it unique flavor and |
| of a better answer... horse racing. By that we | | | | character, but to be successful, it must be willing |
| mean the tradition mired establishment of horse | | | | to evolve to catch up to the present and to |
| racing where "because we've always done it that | | | | meet the future. We most certainly hope that it |
| way" seems to be the golden rule. | | | | does. |
| Where did that harbinger of doom, the missing | | | | |