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Originally Posted by Withers
Sorry to exercise right of response so late, but really, there are LOADS of sports that operate without betting revenues. What exactly makes horseracing so different? Other sports manage to fund multimillion dollar stadiums. Why? Because of their massive fan base and appeal and the fact that people watch the sport and exert so much pressure on local governments that they put themselves in debt to keep local constituencies happy. Nothing wrong with betting revenues, and yes, they currently support the sport. I'm just suggesting that horseracing, by making betting king, is equating itself to slots...and there's no sport in slots, however much money it generates. People need heroes and human interest stories. When more than 100,000 show up in the pouring rain to watch Funny Cide as they did, it wasn't betting that brought them out, and their support does help the sport. If TV ratings are not important, why does DRF report on them after every single Derby/Preakness/Belmont? Why is Superbowl advertising so important? But don't worry, I'm sure you all are right that betting is all that matters to horseracing's future success. Big handles, big purses, and no TV audience and everything is great...the sport is in full freefall, but of course the current model is working...
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You are very confused about what makes horseracing work as a day to day business.
Major league sports have substantial broadcasting revenues that racing can never have.
Major league sports derive substantial revenue from ticket sales that racing can never have save a few days a year.
Racing is funded almost solely by takeout from wagering, though now slot money has also been added to the mix, and if you think that racetracks that run even mildly significant meets can survive without gambling you are mistaken. Completely mistaken.
What racetracks need to do is find a better way to educate their fans about wagering. Any fan that does better, or in most cases less poorly, will be inclined to bet more and enjoy him or herself more. This is how they can improve their business ( and, no, I am not suggesting this is easy....but having know-nothing talking heads on between races sure isn't helping ). If someone wants to pay the general admission and walk the grounds, not bet, and enjoy their day that is their prerogative, but make no mistake....they are doing VERY little to help the game.