Industry Hurting? Raise Takeout

Originally Posted by Cannon Shell

TP may soon be a thing of the past

God willing.

[hoovesupsideyourhead]

ap too

[Thunder Gulch]

Sounds like politicians on the left side of the aisle....raise taxes on those who are the lifeblood of the economy. Yeah, that's gotta be a good idea. Too bad the racetracks don't have money mints in the back.

[10 pnt move up]

Originally Posted by Thunder Gulch

Sounds like politicians on the left side of the aisle....raise taxes on those who are the lifeblood of the economy. Yeah, that's gotta be a good idea. Too bad the racetracks don't have money mints in the back.

One thing is certain the democratically elected politicians in Sacramento have never turned down a tax so this is a done deal.

[10 pnt move up]

Originally Posted by HomerS

As far as tracks themselves I do know NYRA would like to lower but cant. Dont see too many other tracks caring.

and you know this because?

They just raised the take two or three years ago, and of course with the support of the unions and horsemen.

[10 pnt move up]

Originally Posted by HomerS

It was raised despite their objections.

Its on record.

They have been consistently for lower takeout since Barry Schwartz was there.

So the horseman have all the power in this game? They make the takeouts happen?

[Kasept]

Originally Posted by 10 pnt move up

So the horseman have all the power in this game? They make the takeouts happen?

The horsemen were NOT the driving force nor even a voice in the takeout increase which came at the time of the legislation renewing the franchise agreement.

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Originally Posted by Kasept

The horsemen were NOT the driving force nor even a voice in the takeout increase which came at the time of the legislation renewing the franchise agreement.

How about in California or in Ky takeouts?

[Kasept]

As usual, Alan Mann's Left at the Gate take on the situation, and the TVG segment, offers great perspective: http://leftatthegate.blogspot.com/20...na-please.html

[10 pnt move up]

Originally Posted by Kasept

As usual, Alan Mann's Left at the Gate take on the situation, and the TVG segment, offers great perspective: http://leftatthegate.blogspot.com/20...na-please.html

From the blog:::::::::::I can well be willing to be price flexible if the product is worth the cost. No, I'm not interested in betting on Tioga Downs, thank you, and, though I'm aware that the takeout on certain bets in New York is certainly too high, I'll pay that price to play NYRA races over Evangeline Downs given the choice.

Yes you will, the person that on a good day might bet a few hundred dollars but that is NOT what the person who bets 5-10k a day will do and you can take that to the bank. The only reason they MAY still play there is due to the size of the pools. This is why Ky did so well for so long with big bettors, lowish takeout yet pool size to handle larger bets. As handle rises these guys take their money to places that can handle both their concerns.