A great day for the sport.

[joeydb]

Originally Posted by richard

Doesn't every gambling endeavor have the sucker label? I like Frank's idea of a horse racing lottery with huge payouts. But the politics won't allow it because lotteries are run by the states and they don't want that type of competition. The Rainbow 5 and the Super High 5 are steps in the right direction that lottery players may be able to get close to if it's promoted.

I don't think the sucker label is thrown around with Poker much...and that's the closest model to match parimutuel wagering. Except that the rake in poker is miniscule compared to the confiscatory takeout.

And to an earlier point made by someone else about having to pay for past performance data, where they don't do that in South Africa or Australia and the takeout is too high, the problem is that the takeout is being "taken out" by the government - who contribute nothing to the operation of the game. And work costs money - always - including the work of compiling, preparing, data mining and publishing information for bettors to use.