Saturday, December 12, 2009

Let's Party Like it's 1949

There is a story in the Globe and Mail today about Woodbine's lost handle due to the shutdown of racing in Quebec.

"Since the four Quebec racetracks operated by Attractions Hippiques shut down on Oct. 14, Woodbine has lost $500,000 weekly in off-track wagering from that province."

So, let's get this straight. The tracks shut down, but what about internet wagering, or offtrack venues? Surely for such a huge market of willing bettors they should easily be able to play online, or somewhere should they not? This should be a non-issue for bettors.

"The shuttering of their province's tracks means Quebeckers cannot legally wager on a horse race anywhere. Federal rules require that a racetrack must conduct 50 days of racing to collect wagers from off-track parlours or account wagering."

Home market bricks-and-mortar rules for racetracks that were written a half-century ago. This in an internet world where you can buy a share of a stock on the Hang Seng at 3AM in your pajamas. Is it any wonder why we're in the tank?

5 comments:

Anonymous said...

Pull The Pocket (Dean?), this is not my area but could someone like you make the call's to the right people and state the obvious? Sometimes it takes a first mover to get the ball rolling, we are all endowed with special gifts and understanding to present issues to bring about actual change, not just hope for it.

That said, Rush Limbaugh has a song sung by an Obama impersonator "Party Like It's 1929" LOL Americans are spitting out the hope and keeping their change.

Pull the Pocket said...

Hey Anon,

Sure they know how much of a mess it is (imo). I think we are just used to it, and it is too much to fix. As well, each little area is its own Kingdom, and no one likes to rock the boat.

A few years ago, maybe six or seven now, a bettor friend of mine called to open an account and deposit $20,000 to bet. He was told he could not, due to where he lived. He would have to travel to a betting theatre to bet. He plays online, not at a smoky teletheatre. He took his cash and went elsewhere. What kind of business lets a million dollar plus bettor just walk away?

As for Quebec, maybe some readers can speak about their betting system there. I think they took ten percent of your winnings when you hit something - like 25% takeouts are not enough. It was dommed to fail anyway more than likely.

PTP

Pull the Pocket said...

PS: I dont listen to Rush, but seeing he has a bazillion listeners I am glad the title of my post was used by someone like that LOL

Pacingguy said...

The good news is there is a group of Quebec businessmen looking to revive racing in Quebec using a new business model. I discussed this yesterday but the long and short of it is they are looking to have a track race primarily on Saturdays. Grandstand is out; tailgating is in. Obviously they realize they realize the betting is happening online.

Anonymous said...

You have spoken about the home market stuff before here..... it is outrageous. Stifle competition by placing restrictions on if you own a track. The only people who get screwed with that are the bettors....... they are almost 100% of the time the people who get the shaft.