Then I read this.
No post on reason or economics fits. So I won't.
I had to head to the place where we all get sleep last night, but I saw the tweets giving play by play of a radio show in Vegas on the Derby. Since the show was a betting show there was little talk about a favorite getting off a plane, it was bettor focused.
The tweet stream, relaying the thoughts of a New York gambler:
Matties probably won't play Churchill after Derby week re: takeout increase.
— Caroline Marie (@CarolineMBetts) April 30, 2014
Matties's handle has dropped on NY state tracks since new tax imposed. Betting Hong Kong more now as a result.
— Caroline Marie (@CarolineMBetts) April 30, 2014
Matties will move from NY if things get worse. Professional gamblers get no respect in NY. Vegas is different.
— Caroline Marie (@CarolineMBetts) April 30, 2014
Matties: the term "gambler" gets a bad name around horse ownership. WTH. Your sport wouldn't exist without gambling folks...
— Caroline Marie (@CarolineMBetts) April 30, 2014
Let's face it. Horse racing doesn't like to unconditionally promote the source of its funding - gamblers.
— Caroline Marie (@CarolineMBetts) April 30, 2014
Matties: tracks - all gamblers are stupid re takeout - would love to see someone experiment.
— Caroline Marie (@CarolineMBetts) April 30, 2014
Systemic.
Have a nice Wednesday everyone.
4 comments:
The "tax" is on NY residents betting with out-of-state ADWs, and has nothing to do with playing "New York tracks". Methinks "Mattie" has some credibility issues.
I highly doubt that. He's extremely credible.
Probably just a communication issue about a rather complex ADW law.
PTP
The problem is that most if not all in state ADWs in NY now are racetrack ADWs and there isn't a lot of room to rebate, so rebates are smaller on average than they were before the law for NY residents, even the biggest bettors.
The law that applies to NY residents really isn't complex at all; if you play with an out-of-state ADW there is a 5% "tax" on ALL of your wagers. It's irrelevant whether you bet NY tracks or any other - the 5% charge is the same.
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