The "new" funding model for horse racing in Ontario is being tweaked, and pretty much finalized.
In a nutshell:
$72 million per year is earmarked for purses at larger handle racetracks.
$8 million per year is earmarked for "regional" smaller circuit racetracks.
"Sharing the commission keeps horse people’s revenue from purses tied to the market and keeps everyone’s focus on the customer." Handle revenue is split 50/50 between tracks and purses
"Telephone account betting (TAB) will be operated within a single, province-wide home market area by a sole operator." So, no more "home market fees" that barely made any sense in the first place. America, take note.
Lastly, it appears that decisions will not be made on who yells the loudest or who has the best lobby.
"Growth of the industry – for all stakeholders – will come from
performing well in the marketplace and expanding the fan base
(particularly the horse players). The Plan encourages the industry to
grow wagering revenues and enhance its fan base by creating and
offering products consumers want." says the release.
Have a nice morning everyone.
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