Since we’re talking about money and time off, another thing that I’m pondering is whether or not I want to make another visit to Las Vegas again this summer. Will Blue October be touring through Las Vegas again this summer? The key to both of these is that you must be sure your opponent will take the bait and bet. A key problem with the industry is the declining and aging base of racing enthusiasts, particularly in the US. From Part 1 of this series, for the purposes of this discussion, view subsidy as a separate revenue stream for racing that in of itself does not contain the promise of cultivating new horse players and generating any incremental pari-mutuel wagering. Slot/casino revenues and direct government funding support are subsidies as they are cash infusions that don’t have the promise of cultivating new horse players and increasing pari-mutuel handle. The measure I’m using to determine success is if the secular declines in pari-mutuel handle and horseplayer demographics slow or even reverse.
Overall, the industry’s approach to improving their economics via advertising and exposure of racing isn’t successful enough to stem the tide with regard to horse player demographics and resulting pari-mutuel handle. The average age of horse racing fans is 51, expected to increase to 57 by 2020 (Lamb & Singer, 2011). This is not new information to the industry. Horse racing fans are declining at 4% per year, with half of those due to death. Compare the highs and lows of racing TV viewership and interest compared to the NHL, NASCAR, NBA, MLB and of course the NFL. Enough said. There is a post discussing the details of viewership of the 2012 Kentucky Derby which can be found at this link. Yes. There is an earlier post that discussed various racing ads. The post exposes the spin of the racing industry that reports items accurately but doesn’t report the whole story.
With regard to US racing fans, the following statistics are frightening. In case you weren’t following the blog last year, or you don’t remember, I stayed in Las Vegas for ELEVEN nights last June. I left work at 11:30 last night, but I had to be up by 8:00 this morning (today is my Saturday) because I had an appointment for a haircut. What I’m trying to tell you is that my sleep was really messed up today (I normally wake up at 1:30 p.m. Even though players will pay money to play and can win cash, New Jersey won’t regulate these games as gambling, dovetailing with federal law that distinguishes between fantasy sports and sports gambling. These referrals are simply pointing to cash that you can use in order to get a chance to play in online casinos without any money from your own pocket. Offer music, cheap beer and hot dogs and you’ll attract a bunch of folks that will eat, get drunk and party, but probably won’t do much for the pari-mutuel pools. They get decent ratings but there are only a few of those big days per year, with racing not being top of mind for the rest of the year.
The desire is for racing to be able to survive without subsidy. By omitting information that doesn’t fit the “rah rah” template of the racing industry, they avoid inconvenient truths. The assumption I make here is that Canadian racing is facing a similar problem. If not, the competing interests will want to move Potawatomi casino milwaukee gambling outside of Atlantic City to make their venues more competitive with increased casino gaming in adjoining states like New York, Pennsylvania and Delaware. Well, Atlantic City’s casino gambling monopoly would be at risk. We won’t go over every single aspect of our checklist, but we will give you some of the highlights to give you a better understanding of how we vet our recommendations to ensure a safe online gambling experience. The person who said that from a online gambling advocacy group obviously doesn’t know anything about fantasy sports. But there’s only so many ways you can group these things and end up with a manageable number and logical geographic clustering.
As the number of wagering sites grows, along with the number of people losing vast amounts of money through them, more gamblers are turning to the courts in an attempt to wipe out or reduce their debt. How Atlantic City will intend to meet this hurdle is to consolidate – reduce the number of casinos and to an extent, reduce the number of hotel rooms. Anyone with a reading over 100 will be denied entry. Over 30 million Americans play fantasy sports now, predominantly online, with large players such as CBS and Yahoo. They will be used as marketing tools to help attract players that will hopefully stay and play other games, eat at the restaurants, etc. From New Jersey’s perspective, this may open another front in the battle over sports betting, showing the court that what the sports leagues are doing with fantasy sports really isn’t all that different than sports betting.