Horse Racing's Premature Obituary
Ok folks, it's time to break out the shovels to bury horse racing, again! We came across an article on ESPN.com written by Bill Finley entitled "2005 was a lousy year for horse racing." In his article Mr. Finley cites 9 reasons why 2005 was such a bad year for horse racing in America. Although we agree with several of his observations, number 8 on his list, "U.S. Pari-Mutuel Handle Falls", should have been dealt with more objectively. Despite all the cries of gloom and doom that have been ongoing since the unfortunate decision in the fifties to reject television's offer to broadcast horse racing nationally, the sport has continued to grow. Second only to baseball in overall popularity, horse racing enjoyed 11 straight years of increasing handle (total amount of pooled wagers) before this bemoaned 0.5% decrease. According to Mr. Finley, "an ominous sign of things to come." Yes, horse racing does have its problems and challenges, but it also has a lot going for it. It's the only sport offering legalized wagering in the majority of the United States and across most of the world. Why it's even legal to bet on horse racing in China where basic human rights are hard to come by. The advent of simulcasting in the nineties made it possible for tracks to increase their own handle while boosting their revenues by accepting wagers on races from other tracks. Legalization of off-track betting facilities, phone wagering and internet wagering has created a climate where over 87% of the handle is now generated off-track. This may hurt race tracks' hot dog and popcorn sales, but should lead to increased profitability. Several states have enacted legislation allowing slot machines and other forms of gaming on-track. Tracks such as Mountaineer have used this additional source of revenue to improve their facilities, increase their purses and upgrade their overall level of racing. This legislation has also made it attractive for casino owners, such as Harrah's, to purchase and operate horse racing venues as a part of their business strategy. So what is wrong with horse racing? Well, for lack of a better answer… horse racing. By that we mean the tradition mired establishment of horse racing where "because we've always done it that way" seems to be the golden rule. Where did that harbinger of doom, the missing 0.5% of handle go? Our best guess is that you'll find that, and much more, going to the enterprising non-pool race and sports books that have cropped up to better serve today's horse racing fans. Most of these on-line books offer full track odds, signup bonuses, cash back on wagers, and give refunds for scratches, instead of forcing the bet to the track favorite. Oh, and did we mention that most don't impose taxes of any sort on winnings. In addition to offering the full menu of track bets, i.e., Win, Place, Show, Daily Doubles, Exactas, Quinellas, Trifectas and Superfectas, some have started offering additional types of wagers such as a two horse match bet. This, in our opinion, is the most significant opportunity for horse racing today. In an era where proposition bets on football range from the point spread to which way the wind will be blowing at half time, horse racing is missing the boat. They've failed to recognize what Las Vegas has known for some time, namely that gaming is entertainment and that the way to increase 'handle' is to offer more types of wagers. This year's Superbowl offered over 300 proposition bets resulting in a record setting day for the Las Vegas sports books with over 90 million dollars wagered. To put that into perspective, that's about .6% of the 15 billion dollars wagered annually on horse racing. Successful horse race wagering takes a degree of skill and research. Unlike most sporting match ups where you have a fifty-fifty chance of winning by random choice, with an average field of 8 horses, the horse player only has a 12.5% chance of winning by chance. Let's put fun into the sport for the casual fan. A two horse match up takes wagering on horse racing back to its earliest and simplest form; "I bet my horse can beat yours!" But there's no need to stop there, horse racing offers a myriad of options for wagering; which horse will be in the lead at each point of call, which jockey or trainer will have the most wins for the day, and how about betting a horse to lose. These are just a few options that come to mind. Horse racing's traditions give it unique flavor and character, but to be successful, it must be willing to evolve to catch up to the present and to meet the future. We most certainly hope that it does. About The Author: C Wayne is the Executive Vice-President of Picks and Plays, Inc. and an author and lecturer on gaming and handicapping. You are invited to visit http://www.picksandplays.com and receive free membership and a free daily report from the home of 'The Best in Handicapping'. |
Other Horse Racing Betting Articles
Stay On The Right Side Of Online Betting Laws The laws regarding online betting vary with the country. Online gambling companies are not allowed to operate in the US. Three US states, namely Nevada, Louisiana, and California have explicitly written laws against online gambling. It is not uncommon for employees of online betting companies from other countries to run foul of the law when they ...Soccer Betting Soccer (also called Futbol or European Football) betting is very popular in many parts of the world. In fact, the only place that it’s not is the United States. The game of soccer can be claimed as the world’s true sport, but the United States does not enjoy soccer anywhere near as much as other parts of the globe. As with any other game, it ...Missouri Valley Update Standing at 67% ATS in this specialty conference of mine, along with a 61% ATS record in the Big 12, one other conference I specialize in, once again, keying in on a few conferences is showing success. That being said here are my weekly takes on what is going on in this mid-major conference as I highlight some teams to keep an eye on. There is a ...World Cup 2006 Round Up - Quarter Finals The World Cup is down to eight countries as we approach the business end of the tournament. This is what happened the four quarter finals and who will be squaring off against who in the semis.In a match billed as the 1990 World Cup final replay, hosts Germany ousted second favourites Argentina on a penalty shoot-out. Roberto Ayala headed ...Be Observant - A Poker Player's Foundation The number one important thing in poker besides skill boils down to how focused you as a player are at the table and the level of your concentration. You could have superior psychological skills then anyone else at the table and yet they are rendered useless if you are not paying attention.Top reasons you will be distracted at a poker ga ...Currency Options - 3 Secrets Of Options Trading For Huge Gains! Many traders love the idea of currency options, they have unlimited gains and limited risk – sounds great in theory, but in practice 90% expire worthless!This article is all about how the pros use currency options to generate big consistent gains and how the losing majority don’t understand the odds of success.This article will giv ...A Preview of July's UK Horse Racing The quirks of the racing calendar have nudged Newcastle’s Northumberland Plate into the first day of July and there cannot be a better way to begin the month’s racing. Few staying handicaps are as fiercely contested as the ‘Pitmen’s Derby’ and this year’s race is no exception to that familiar rule.Anyone thinking of having a bet in this g ...Taxi (Season 2) DVD Review With its acerbic humor and quirky characters, Taxi is widely considered one of the funniest sitcoms in television history. Created by James L. Brooks (whose magic hand played a role in such hits as The Andy Griffith Show, The Mary Tyler Moore Show, and The Simpsons), Taxi maintains a loyal following to this day via syndicated reruns. Sporting an ...The New Billionaires In its annual report on the biggest billionaires of our time, the authoritative Forbes magazine once again named Bill Gates as the richest man in the world with a net worth of $50 billion. This is the twelfth straight year that Gates has been accorded this honor. It may be true that Gates is less active in Microsoft these days, but the founding ...Casinos, Gambling and Sports Betting in New Zealand The New Zealand TAB initiated the world's first Government-run totalisator betting service in 1951. The TAB (totalisation agency board) is run by the New Zealand Racing board and controls all of New Zealand’s horse, greyhound and sports gambling. They have branches set up all over New Zealand as well as at all race meets. In 1996 it added fixed ...Winning Gambling Strategy A Winning gambling strategy is based on statistical analysis of the occurrences of each event in the game and an analysis of the odds the casino applies to that event. Casino operators use the occurrence of these events to calculate the odds for the various occurrences within the game. You must identify those events which are good bets for you ...Horse Racing Betting, The Risk Free Way You may or may not of heard of all this talk about been a change to horse racing betting where you can bet on horse races risk free.Yes that’s right, Risk Free!Now this isn’t some bogus system that gives you one horse that is guaranteed to win, it isn’t even like normal gambling. It’s more like trading as you are betting on more th ...The Dish: 'Sheed Defends Predictions Detroit Piston power forward Rasheed Wallace, fresh off his team's 74-72 loss in Cleveland Monday night, defended his record of prognostication. Despite the fact that 'Sheed ruffled a few feathers by guaranteeing a Detroit win in Game 4---a prediction that fell flat, as did Wallace, who sprained his ankle in the second quarter and was ineffectiv ...Do You Want To Save Money Easily? Living on credit is fashionable. Indulging oneself is fashionable. Saving money isn't.This is a pity, as it has much to recommend it. You have more peace in your life. The end on the month is simply a date on the calendar, rather than a countdown to the next pay-cheque. Purchases born of necessity can be made comfortably. Employment beco ...Horse Racing Betting Horse racing is known as the sport of kings and many people around the world enjoy horse racing betting. However, horse racing betting is much more than just picking the horse with the catchiest name or the best odds. If you’re serious about betting on the ponies it’s a good idea to consult with some of the expert odds makers who know why a part ...Yankees Midseason Report Card At the halfway point of the 2006 regular season, the New York Yankees stand at 46-35, four games behind the first-place Boston Red Sox. The Yankees are on pace for a 92-70 season, which probably won’t be enough for a Wild Card birth or a divisional title. Things have not panned out exactly as they may have liked, but with all things considered, ...Internet Sportsbook Every day more and more people are finding out how convenient it is to do their sports betting on the internet. The key is finding the right internet sportsbook. On an internet sportsbook you can place bets quickly and easily from the comfort of your own home. You simply open an account and start betting. A good internet betting site will make s ...Bernardini Braces for Breeders Cup Saturday is -- as one Las Vegas bookmaker observed -- Thoroughbred racing's Super Bowl and World Series rolled into one."It's racing's crowning day," said New Frontier bet shop boss Tony Nevil.This year's $20 million, eight-race Breeders' Cup card will be contested at Churchill Downs, horse racing's Mecca and site of the Kentucky D ...Trading The Betting Exchanges The numbers of people working from home utilising the talents of the Internet continues to grow at breakneck pace and one of the largest areas of growth in Britain is Online Trading, both in sports and miscellaneous markets.There are numerous advantages of setting up and running a sports or miscellaneous trading operation from home. First ...Horse Racing Primer Horse racing is a very exciting and lucrative sport. Anyone who hasn’t been to a good track is missing out. Winning lots of money at horse racing is very possible. In fact, it tends to get overlooked in the sports betting world. Think about this. If you were going to wager on a baseball team that was far better than the team it was facing, you m ...Professional Poker Player Skills What makes a poker a player a professional? Does it mean that by adding the word professional the person loses less money? Or does it mean that the player enter tournaments through out the year? If you are thinking about getting the word professional embossed on your 'poker resume', here are some skills that you should consider mastering. ...States Lottery Basics For those who dream of quitting their jobs and being independently wealthy, the lottery is an affordable way to take some chances and move toward a goal. Lotteries have been a great support to those aspiring to be great through the stroke of luck. The lotteries have been a source of income to the people who believe that the lady luck is on their ...The Preakness – the Second Leg of Horse Racing's Triple Crown As the field takes shape for the 131st running of the Preakness Stakes this Saturday, the question on everyone’s minds is do we finally have a horse that can win the Triple Crown?On paper, Barbaro is the horse to beat, and after his decisive win at the Kentucky Derby, he appears capable of beating all comers. But this is horse racing and ...How to play Texas Hold'em Both variations of Texas Hold’em (Limit & No Limit) are played with a standard deck of 52 cards, what’s different about Hold’em is how players make their hands. In this popular version of poker, players receive 2 face-down cards – called the hole or pocket cards. These two cards make your starting hand. As betting rounds progress, up to 5 commun ...Slot Machines - Does Location Make a Difference? Books have been written on this subject and the debates and arguments about where the "hot" machines are placed in a casino are still raging – 60 years after slots were first installed in casinos.The classic rule is that the best slots were placed just inside the door of the casino, so that people walking by would see jackpot winners a ...Online Sports Casinos Online Sports Casinos, popularly known as online sportsbooks, are increasingly becoming popular with gamblers who want to place their bets on different sports. The bets can be placed on Soccer, Baseball, Basketball, Boxing, Motor sports, Golf, Ice hockey, Horse Racing, Rugby, Skiing, Tennis, Snooker, Cricket and other sports. The minimum and the ...A Horse Racing Certainty - Beware They Don't All Win I have been gambling since around the age of sixteen. I see it as a bit of a hobby and really enjoy playing poker and bragg. I go to the casino as often as I can and also love to go to the horse racing and to the greyhounds. This article is a story about when I lost a lot of money on a horse which was supposed to be a racing certainty.As ...Make Money From Gambling, Without Gambling - 30 Ways 1. Own a casino.2. Own stock in a casino company.3. Own complementary businesses (such as bars, restaurants, pawn shops etc) near a casino.4. Act in commercials for gambling.My mother has made more net profit from gambling than most gamblers even though she has never stepped inside a casino or even bought a lotto tick ...7 Critical Factors You Must Know Before You Play Any Hand in Texas Hold'em Poker Being a poker professional I receive tons of emails and questions about how to play certain hands or what I would do in a particular situation. In this article I’ve outlined seven critical factors you need to be aware of any time you play Texas Hold’em poker.Use this article as an outline to help make the best possible decisions when pla ...What Makes a Great Online Sportsbook All sportsbooks were not created equal. The Internet has given us unprecedented choice when it comes to betting on sports online. I am going to list a few of my must-have items for online sportsbooks. Does your current sportsbook have these features? If not, perhaps it's time to check around for a new sportsbook.Feature One: Security ...
|
