Frustrating how reluctant media is to attribute any of Churchill's handle losses to idea that bettors might've responded to a price increaseIf, after a much publicized price increase, your local lemonade stand had their sales crater 25% this summer, we would not have to hire Columbo to figure out why. The business would not say it's been a little too humid for foot traffic, The World Cup was on, or demand was really, really high, but they ran out of lemons.
— Brandon Valvo (@BValvsRacing) July 2, 2014
Racing, an insular business, has been run with increasing rates of takeout for so long it's become a way of life. Insiders do not want to talk about it, nor do they want to have it publicized that a policy initiative was a mistake. This is why something as simple as a price going up and having people consume less of it seems like a foreign concept; something that happens to "other businesses".
Churchill Downs' handle went down this meet because the price of a wager was increased and as a result people bet less than they did last year. It's not that difficult to be honest about a fact that is so obvious.