But is the governments entire set of assumptions bad business because they're dressing up a bad model without getting to the crux of the problem?
Gambling experts seem to think so:
- “If any U.S. casino had that kind of monopoly and customer base the revenues would be much better,” a casino manager from Nevada told me. He suggested that with 80 million* Ontario residents and the huge appetite for gambling in the province, OLG should be bringing in at least double that revenue
- The casino manager believes revenues aren’t higher because the odds aren’t competitive, a mistake that is made too often by monopolies.
- Obviously all things equal Canadians would prefer to bet with the government bookmaker but if the governments and agencies like OLG treat single game sports betting like the lottery, they can forget about gaining much interest except with the very naïve or amateur bettors.
Hmmm - decrease takeouts, offer proper lines, and make sure they have big pools. That sounds familiar.
Regardless, what Ontario has done with gambling clearly has not worked, or we would not be where we are. Did mismanagement get us here? At least some seem to think so.
* Suspected typo