Take Out (not Chinese)

[asfufh]

NYRA considering increasing take out and instituting rebate program
http://www.als.edu/centers/editor.cfm?ID=501

[bobphilo]

These nit-wits jusy don\'t get it. It\'s like when the MTA raises the subway fare because of losses from declining ridership. It\'s simple economics - you don\'t raise the price of your product when sales are down. You should do just the opposite to get people to start betting again. Greed and stupidity so often go hand and hand.

Bob

[NoCarolinaTony]

Bob,

Unlike a gasoline tax or Sales tax, this is a consumer \"choice\" at discrestionary  spending. To tax (in effect) an already declining product may excellerate the downfall by de-incentivising the consumer, as simulcasting and online wagering is offering the smart consumer alterntives outside the state.

NC Tony

[bobphilo]

Tony,

My point precisely. Well said. Now if only we could get the State legislaters to learn a little about economics, we\'d be OK. Even if they never got past grade school, they must have read \"The Goose that Laid the Golden Egg\". Remeber what happened to the greedy King?

Bob

[asfufh]

Tony, It looks like the NYRA may try to rationlize the raise in the takeout by instituting a volume discount (rebate program) at the same time. Asfufh

[NoCarolinaTony]

Asfuth,

The question I would have as an out of state bettor, wagering on the NYRA product (unless I am at saratoga) would be: How would simulcast bettors gain acees to the rebate?  How would simulacast facilities administor this? I am sure of what the answer will be, only those local on track bettors get the incentive.

as such I would suspect a portion of the betting public will shift their discretionary spending to other states where the takeout is less. Most of the wagering done at NYRA is not on track (unless it\'s Saratoga).

Too bad this could not be done on a national scale vs a local one.

NC Tony

If they raise the take perhaps a certain well known rebate shop will move the rebate from 4% back to 7%.

[asfufh]

Tony, As a out-of-stater, I think you could set up a NYRA One phone bet account and process your NYRA bets through it. Asfufh