Steve,
You have been a voice of reason and passion amongst those in the racing industry for years. Eventually however, the time comes when a solid stance needs to be taken to send a message into the sport's leaders and their board rooms.
The Churchill Downs take-out rate increase boils down to a question of what is more important, [a] or [b] :
[a] The visibility and importance of the Kentucky Derby to the health of the game.
[b] Keeping the remaining players in the game (outside of racino/casino subsidies) engaged by providing the best possible rates on take-outs.
At this point, there are no longer any sacred cows in the sport that cannot be sacrificed for the long-term survival. If the Kentucky Derby were to continue without any audience ([a] over [b]), the event would not matter. Conversely, if the bettors continued to support events with lower takeouts ([b] over [a]), other major racing events can and will emerge.
Following this second path, perhaps the Triple Crown, a salute to an era gone-by, will be seen as what it is : a collection of three random races at three random racing associations. To underscore the point, why should California not include a triple crown race? Or Florida? Or Arkansas? If the Breeder's Cup can be called upon for a rotation, why not the Triple Crown itself.
My point is simple. With these increased rates, I will pass the Derby - first time in decades. I will pass on all CDI events - period. There comes a point when I need to think about my pocketbook first and send the message with my $100.00-worth of Derby wagers.
Now, to your role : Please push the envelope on this issue with your radio show and your connections. It is time that these continued rake issues gain more visibilility - and challenges - from the market.
Sincerely, Scott
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