[Triplecrown]

the tracks and the states have been extracting money from the horseplayer for so long at such an exorbitant % that they have failed to realize and adjust to the changing marketplace in the following ways... 1) there is tremendous competition for today's gambling dollar. 2) the demographics of the racetrack's clintele is aging, dying off, and not being replaced by enough younger degenerates to keep its market share. 3) the high takeout (and the overall trend to raising the takeout) is counterproductive in the long run to keeping or encouraging the players to stay in action. this is unlikely to change as the states have used racetracks as a cash cow for revenues forever without doing enough to support the tracks or more importantly to support the bettor. the tracks response to these problems is to ask for slot machines thus turning racetracks into racinos. the bulk of this industry is in a downard trend with only simulcasting and slot machines being the lifeblood that keeps many tracks in business. this trend is unlikely to change soon as the states are unlikely to reduce their takeout % and the tracks really don't seem to be able to market their product in a way that encourages long term growth. the tracks and the states feel that competition is their problem. the sad truth is that competition isn't the darth vader in this scenario, the tracks and the states are their own worst enemy.