A study commissioned by the TVG network has concluded that "exchange wagering provides an important option to grow the audience and participation in the sport in the U.S."
People want convenience, low prices, and a game that is easy to learn and play; exchange wagering fits that description. Read Blog
- By Tom LaMarra
If the horseracing industry fails to make voluntary changes it has resisted for decades, the only things that may save it from doom are involuntary changes brought on by forces in the gambling and entertainment marketplace, officials said Oct. 13.
Gambling sources provide more than $25.4 billion to state and local governments, according to most recent figures, but taxes on pari-mutuel wagering provided just a little more than 1% of that total.
A few consultants and racing executives said they believe the product of horse racing is fine, but the industry as a whole may not know what to do with it.
Originally scheduled to take place in New Orleans, the International Simulcasting Conference kicked off Monday afternoon in San Diego with discussions focusing on the future trends in gambling and the growing presence of Internet wagering.
The Thoroughbred Racing Associations, co-sponsor of the International Simulcast Conference, has secured the Hilton La Jolla Torrey Pines in California as the new location for its 13th annual conference on simulcasting. The devastating effects of Hurricane Katrina to New Orleans, the conference‚s original site, forced the relocation.
Chris Schef, executive vice president of Thoroughbred Racing Associations, said the U.S. racing industry can't afford to allow Internet betting exchanges to continue to infringe illegally, and suggested the industry form its own exchange to monopolize the U.S. market.
The boom from simulcasting is over and North American purses are now growing progressively slower every year like a freight train struggling up a mountain pass. The problem this time around is that the next mountain peak may still be a ways off, and the downhill side does not appear to be very steep.
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