Pope: Racing’s artificial economy slowly killing the sport
At Horse Racing Business, Fred Pope follows up on his column last week about creating a central wagering platform for Thoroughbred racing. Pope says such a national betting “trust” could address what he calls an “evil cauldron” – the artificial funding of bad racing instead of quality races with integrity:
“This underbelly of racing is growing every day as 20,000-30,000 horses, with fleeting attachments to owners, are in service to fill races increasingly fueled by artificial means.”
“Slots are not the only artificial way purses are funded. Bet-taking on other tracks’ races also artificially funds races that are now written for all the wrong reasons.”
Pope says under a central betting system, tracks would have to write races that appeal to the bettors in the off-track market:
“The Horseplayers Association of North America says more than 74% of its horseplayers favor a ban on drugs. That research provides the path to revenue. For example, if the host event writes conditions without medication and that race competes against seven other races at the same time, the race without medication has a huge advantage. That race becomes a “brand name” in a generic market.”
“It will not take long for racing secretaries to figure out what sells and what doesn’t in the off-track market. It will be a positive, free market solution for both partners in the sport, but the big winners will be our current and new customers.”
