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#1
01-27-2008, 11:11 AM
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Vegas race books doing well, according to LV Review Journal
Here's an article in the Las Vegas Review Journal about profits and upgrades at Las Vegas racebooks. Some history, too:
http://www.lvrj.com/sports/14309912.html Saw that in the bj21.com newsletter. --Dunbar
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Curlin and Hard Spun finish 1,2 in the 2007 BC Classic, demonstrating how competing in all three Triple Crown races ruins a horse for the rest of the year...see avatar photo from REUTERS/Lucas Jackson 
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#2
01-27-2008, 11:26 AM
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It's the only game in the casino where the house is rooting for the players. Every other game, the house is against the players. I worked in the Nevada racebooks when they were just beginning to go pari-mutuel. The place I worked at was not one of the first to make the move. We still booked every wager. We held about 20%, but had days where we got buried by "hot horses", especially from Northern California. Overall, we were very profitable, but when booking, the house has to place limits. 150-1 on Exactas and Doubles. 299-1 on trifectas and Pick 3's. We couldn't take Pick 6 wagers. I think Pari-mutuel is better for the house and the player. The player gets full track odds and can play the the entire exotic menu. The house and players are on the same side, and the house is a guaranteed winner as long as they can get people to play. I'm just surprised it took them so long to sink some extra bucks into the Pari-mutuel operations.
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