27 April 2007

Bill Finley Preaches To The Choir: "Reduce Track Takeouts"

Bill Finley recently wrote a great article for ESPN "Slots + Lower Takeout = Racing's Revival
The highlight lines:
"slots have done nothing to promote the sport, create new fans or level the playing field for horseplayers who are playing an unbeatable game. Fix the latter problem and horse racing could enjoy a remarkable revitalization."

"(horse racing) is a gambling enterprise that is so difficult to beat that virtually everyone who tries it loses money. The situation has only grown much worse over the years as tracks have raised takeout rates"

"what if racing were transformed into a gambling game that no longer caused customers to go broke but actually made the most savvy players wealthy? Because of slot machines, that's no longer a preposterous scenario."

"(thanks to slot machine revenue) the amount of money that trickles in from what people are betting on horses is virtually meaningless."

"Imagine a game where there was no takeout or a very small one. The same exacta that is now paying $40 would pay $50. The winner that now returns $8 would pay $10. The result would be a true game of skill in which the best handicappers would defeat the weaker handicappers and make money. And even the poorer handicappers wouldn't get buried, which is what is happening to them now.

The best analogy is poker, where the house only takes a very small cut and the rest is returned to the players. The good poker players win and the bad ones don't. The fact that poker is a game where a smart player can make money is obviously a major reason why it is so popular."

Without repeating myself, I did a post a few months ago offering the same advice to the racing industry. Read it here. I expand on Finley's thoughts and give reasons why I think the track will win out big time if they adopt my ideas.

Stem cell therapy starting to emerge as a viable option for injured thoroughbreds "So far, more than 500 horses have been treated by VetCell and clinical follow-up suggests the technique doubles the chance of an injured horse returning to full performance."

From Equidaily. Jockeys both stand up before the wire during a heated stretch duel in yesterdays third race at Keeneland:

Insightful article about Ascot Stud at Berkshire Stables of Port Colborne

Canadians lost 14.5 billion gambling last year. Lost money, at least was injected back into the economy.

Canadian Casinos most likely would be liable in many lawsuits regarding known problem gamblers

Cornwall casino proposed

NYRA gets internet license

CPMA prohibits drug Resocortol. It is an anti-inflammatory for canines, that was just approved by health Canada for use by vets.

As expected, Barney Frank introduces bill to try to get internet gambling legalized in the USA.
I can see Vegas companies running the show.

I've been brutal lately with my Woodbine Picks. But I was always told to get back on the horse. Today I like Executive Flight in the 2nd, Herb Engagement in the 4th, and longshot Salty Silver Sally in the 9th.

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