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#1
08-01-2011, 09:38 PM
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This was from the DRF in 1917 --- less than 100 years ago -- advocating going from bookmaking to mutuals - with just a 2% takeout in New York.
At a 2% takeout - we'd be wiping our ass with hundred dollar bills - and making $40,000 win bets and $5,000 exacta bets for the sheer sake of having "action" in those races where we didn't have a strong opinion and would otherwise skip.  The DRF writers would later argue that the takeout should not be more than 5% in New York. And... look what has happened everywhere over time. It's a trend that desperately has to be reversed... but sadly, it has to go down as slowly as it went up - you possibly run the risk of short term problems for those employed within the industry if you slash too sharply. You can't grow the game overnight.. but as it grows .. everyone wins. At low enough levels - I think horse racing could become this nations Crack-cocaine obsession - and it could get to the point where politicans would have to step in and spoil the party for moral reasons. 
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