I will have a full report on the gaming summit and wagering conference once I get some time. But today one quote struck me, from Mark Davies, Managing Director of Betfair that I would like to share:
"Empirical evidence around the world undermines that argument (that operators will lose money by lowering takeout) quite dramatically," Davies responded emphatically. "Lower margin is where horse racing has to go in order to compete with all the other sports out there. Even if you are concerned about lower margin, what you should probably throw into the mix are the people who get involved at the margins because of the lower margins."
Yesterday, the quote with the most cajones was Moira Fanning, on a panel of industry insiders, speaking to industry insiders:
Moira Fanning, Director of Publicity for The Hambletonian Society, was a panelist in this session, and she admonished attendees to quit referring to harness racing as a sport.
“It’s a gaming product, so let’s call it what it is,” Fanning said. “It’s not a sport.”