Even today in some circles we don't hear alarm when talking about handle decreases. "It's ok, we have slots." In this month's Trot Magazine there is a chart that certainly shoots down that theory. I believe it is a subtle nudge to some that we have to start taking handle losses seriously.
On page 34 a chart entitled "Purse Distribution in Canadian Dollars" shows that in 2002 $252.5M was distributed in purses. In 2007, that figure fell to $224.4M, or a 12.5% decrease. This is of course reported in non-inflation adjusted dollars, so the result is much worse.
On the next page we see why this has happened. Pari-mutuel wagering in Canada was $862.9M in 2002. In 2007, it was $553.0M.
Slot money is playing a larger role in purses; but those purses are falling. This is causing the business in this country to recede. Less money for purses equals less owners, less trainers, less grooms, less feed men, less stallions, less mares and so on.
Could anyone imagine if tomorrow, or next year, it is decided that slots to purses are lowered? David Miller, Mayor of Toronto wants more of a share; maybe the government wants more of a share with a possible recession. Perhaps more important, the battle for the gambling dollar in neighbouring states with casino-type gambling, like New York and Michigan, as well as here at home is on the increase. Slots money has not exactly been growing leaps and bounds. What if that happens? With bettors leaving us in droves, there is no one left to fall back on.
This is a serious, serious issue. Perhaps the most serious one we have faced as a business in our history. I hope someone, somewhere is listening. We have to get our act together, if it is not already too late.
When you hear someone say "that's ok, we have slots," point him or her to Trot magazine and let them have a glance at reality.
Subscribe to:
Post Comments (Atom)
Most Trafficked, Last 12 Months
-
Our wagering game is an incredible mental exercise for many reasons. And one of its characteristics I like best is the variety of thought wh...
-
I received a hot text on my Blackberry from Cub Reporter late last night. Cub said, "The racing braintrust was reading twitter last ni...
-
This was originally printed in Trot Magazine's Horseplayer Issue. The pick 5 is a racing staple with almost every track trying to take...
-
At Northlands Park Wednesday several rabbits were in the infield. This spooked one of the horses, and he took a tumble, sending driver Debbi...
-
I watched the U.S. Women's Open in golf this past weekend on and off. I wondered if Lexi Thompson, the front-runner with a 4 shot lead, ...
-
I've been thinking about wagering, handicapping and gambling content this week. The topic has been front and center with Nico's grea...
-
Everyone saw "the ride" , everyone commented on "the ride", everyone waited to see what was up with "the ride"...
-
So, I did a little reading on the railway rebate system. No, stop laughing, I really did. And it was a pretty interesting exercise. For tho...
Similar
Carryovers Provide Big Reach and an Immediate Return
Sinking marketing money directly into the horseplayer by seeding pools is effective, in both theory and practice In Ontario and elsewher...
No comments:
Post a Comment