Noting late pari-mutuel odds changes and high takeout rates in horse racing betting compared to fixed-odds wagering on sports, panelists issued recommendations to the equine industry in the first of three Dec. 11 afternoon sessions that closed out the Global Symposium on Racing in Tucson, Ariz.
Replying directly to a question from Gatewood Bell, Keeneland‘s vice president of racing, during the “TPA Mark Kaufman Workshop: How Do We Keep Racing Relevant in the Evolving Wagering Landscape,” Rhodes College economics professor Dr. Marshall Gramm encouraged the Kentucky track to lower takeout. He said tracks like Keeneland and Del Mar in Southern California—power players within the industry but not owners of advance-deposit wagering companies—have the ability to experiment with lower takeout in a way that smaller tracks cannot.
“All you lose—right?—is the margin on your on-track player. The CAWs (computer-assisted wagering…
Leave a reply