Race Tracks vs Casino's

[Kenny]

Yesterday Pacer2 said Social Security was a handout because if you live long enough you will have received alot more in benefits than you paid in.

In a given year, racing gets more money in handouts in one month than it contributes in an entire year. Almost 90% of the purses come from government handouts.

[Kenny]

irrelevant  question
states that understand it ensure there is a partnership and a split of funding
remember that casinos are a drain on economic activity, the casinos rake in millions which is withdrawn from the economy for ever and have no economic downstream in the area other than the few people who work there making minimum wage
racetracks and horses have a huge positive beneficial  economic impact as the racing itself is a very labor intensive industry providing many economic benefits downstream which i have posted before
please limit response from people who own at least 100% of a horse(s)
not interested in comments from people with no skin in the game
you know who you are

You should learn how business works. You provide a product or service the customers want and they pay for it. Racing provides a product very few people want so it has to depend for 80% or 90% of its revenue from government handouts. Businesses and industries that are not supported by customers ultimately disappear.

[Hambletonian46]

  Both may be closing. Tracks provide plenty of support for casinos.

Can I nominate this for "Least Accurate Post of the Year" lol.

Name me one track that is subsidizing a casino!!

The simple fact is plugging in a slot machine is a hell of a lot easier way to separate a fool from his money than running a many acre site with facilities created for crowds many times what show up now. It is just plain inefficient. WIth the exception of a few meets, there is little interest from the general public. I love horse racing, have for over 50 years, and there are only a couple of people alive who have been to more North American race tracks than I have. And i don't see a positive future ahead.

[Brown jug]

thanks kenny
you need to widen the lens from which you look at things
many business or services provide benefits more than the bottom line
expand your reach and you will see the economic benefits  provided by racing
i guess what you are saying is that the folks in kentucky dont know what they are doing
despite the fact that training centers are opening , farm land is being bought, people are moving there and buying houses etc , racing is the conduit to this , not a stand alone operation
perhaps the folks in kentucky see that a $1 invested in racing provides a significant multiplier effect to the local economy well beyond the $1 invested

[ScrapeThePaint]

It seems that many people have forgotten that racetracks existed long before casinos did. With the onslaught of casinos in every state, the agreement was that they could open as long as they were tied to racing. Don’t shoot the messenger. Those are just a fact. If the track loses money, that’s the price to be paid for operating a casino and without that racetrack, there would be no casino.

[Lockedin with Pace]

How about all the states with casinos without racetracks. There aren't that many states left with racetracks. 47 states have casinos, how many states have racetracks, maybe 1/3. What happens when the funding goes away or is reduced for the racetracks, the casinos will still be in business, but some racetracks may be forced to close or race for much cheaper purses.

[gurals casino]

How about all the states with casinos without racetracks. There aren't that many states left with racetracks. 47 states have casinos, how many states have racetracks, maybe 1/3. What happens when the funding goes away or is reduced for the racetracks, the casinos will still be in business, but some racetracks may be forced to close or race for much cheaper purses.

the three without casinos...my guess

Hawaii
Utah
Idaho

[Lockedin with Pace]

Actually there are 4, Hawaii, Utah, Tennessee, and Georgia.

Idaho has Indian casinos, Kansas has both.

[gurals casino]

Actually there are 4, Hawaii, Utah, Tennessee, and Georgia.

Idaho has Indian casinos, Kansas has both.

thanks

great info

.

it figures Georgia is on the list

[SRP22]

Without casino money, many of the tracks  would be toast.

Why  would the average person want to bet on racing?

Boxing was huge at one time,now how is that doing?

It's a dead game laddie.

[Kenny]

thanks kenny
you need to widen the lens from which you look at things
many business or services provide benefits more than the bottom line
expand your reach and you will see the economic benefits  provided by racing
i guess what you are saying is that the folks in kentucky dont know what they are doing
despite the fact that training centers are opening , farm land is being bought, people are moving there and buying houses etc , racing is the conduit to this , not a stand alone operation
perhaps the folks in kentucky see that a $1 invested in racing provides a significant multiplier effect to the local economy well beyond the $1 invested

If a business/industry does not offer something people want, it must depend on handouts or it will eventually disappear. That is business and economic 101. Why should the government support racing when most the general public could care less it even exists?

KY is throwing big money at racing.  That will just kill all the others states unless they do the same. KY can only do what it is doing if the other states do not respond. If the other states respond in kind, the taxpayers will revolt. If KY continues long-term it will destroy racing in the other states. All KY is doing is redistribution money. If people are buying land it is to move from other states to KY. It is a zero sum game.

[Kenny]

Without casino money, many of the tracks  would be toast.

Why  would the average person want to bet on racing?

Boxing was huge at one time,now how is that doing?

It's a dead game laddie.

Most of the people on here do not grasp the concept. Using Hanover as an example, what is their optimal business decision?  They should buy land in KY and move all their broodmares there but keep their stallions in PA. That makes all of their babies duel eligible for both KY and PA. They can then sell off the land in PA maybe for a data center. What KY would gain, PA would lose. If the industry was doing good, purses would not be being subsidized by 80% - 90%.

[Pacer 2]

Most of the people on here do not grasp the concept. Using Hanover as an example, what is their optimal business decision?  They should buy land in KY and move all their broodmares there but keep their stallions in PA. That makes all of their babies duel eligible for both KY and PA. They can then sell off the land in PA maybe for a data center. What KY would gain, PA would lose. If the industry was doing good, purses would not be being subsidized by 80% - 90%.

    Horses, horsemen, drivers and owners are making a fortune!   

[Kenny]

    Horses, horsemen, drivers and owners are making a fortune!   

From government handouts. What happens when the voter say enough? Then you will be making 10% of what you are making now.  If the voters allow decoupling, you will be making zero.