Horse Racing

[vinnyhockey]

Do not have a clue but wanted to ask the question. One of my buddies says that horse racing venues loose money. If 6this is so why the hell are they in the business and why do they loose money. Is it because the sporty is not interesting. What is the reason.

Vinny

 

[bjfinste]

Horse tracks simply take a percentage of the amount of money bet. It's not dependant on losses like sportsbooks are, so I'm not sure how they could lose money. But I guess I don't know for sure.

 

[Terryray]

not the crowds anymore

not the crowds anymore

much fewer folks betting horses due to all the beastly competiton.

only tracks doing well are "racinos"---the tracks that offer slot machines.

 

[Penguinfan]

The tracks in fact do get a "takout" on each bet and the remaining money goes into the wagering pool, but remember they have to pay the purse of the race out of that takeout money as well as maintain the track and wagering areas, etc....

Alot of states that allow slot machines only allow them at race tracks so it is OK to lose money with the horses if you can rake it in on the slot action, which they do. Here in Pennsylvania slots are a hot issue right now and again if legalized they will only be allowed at race tracks with the possible exception of 2 "slot houses" one each in Pittsburgh and Philladelphia, God forbid we actually allow table games as well, the Amish may move out and take their, well, whatever it is they contribute with them

Penguinfan

 

[dawgball]

Kentucky royally screwed up when they turned down the riverboat action because they thought it would deter people from horse betting. Now all of the gambling money just goes across the river to Indiana. Real smart there, fellas!

 

[Penguinfan]

Kentucky royally screwed up when they turned down the riverboat action because they thought it would deter people from horse betting. Now all of the gambling money just goes across the river to Indiana. Real smart there, fellas!

Dawgball,

I have no idea what the majority of states are thinking when it comes to gambling, the city of Pittsburgh is either in or on the verge of bankruptcy, if you go to Mountaineer and look around 90+% of the cars have Pennsylvania liscense plates on them, wonder how much the PA residents contribute to the tax income of WV. With that in mind, consider this, PA will pass slots to try to keep that revenue in the state only to have WV legalize table games and continue to attract PA residents and we will wait another 10 years to address that issue.

Penguinfan

 

[IntenseOperator]

The tracks in fact do get a "takout" on each bet and the remaining money goes into the wagering pool, but remember they have to pay the purse of the race out of that takeout money as well as maintain the track and wagering areas, etc....

Alot of states that allow slot machines only allow them at race tracks so it is OK to lose money with the horses if you can rake it in on the slot action, which they do. Here in Pennsylvania slots are a hot issue right now and again if legalized they will only be allowed at race tracks with the possible exception of 2 "slot houses" one each in Pittsburgh and Philladelphia, God forbid we actually allow table games as well, the Amish may move out and take their, well, whatever it is they contribute with them

Penguinfan

I bet you Amish chicks are WILD