Lottery Management : Racetracks And Racinos

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Collin Francoeur 1/14/15 Casino Management Racetracks and Racinos Racetracks and Racinos When you talk of horse racing most people can only name a couple of races, if any at all. The Kentucky Derby, The Belmont Stakes, and The Preakness, the Triple Crown, are usually the only ones that come to the mind of most people. They couldn’t tell you where these races are held or in many cases what state they are held in, obviously the Kentucky Derby is an exception. When you ask people about casinos, they can rattle off 10 venues in the blink of an eye. This just goes to show the lack of popularity and, most importantly to the venues, the lack of profitability of pure racetracks in this day and age. There are three main sports in which betting…show more content…
During the revolution the popularity of the sport died down as many of the aristocratic society had more pressing issues. It was the same fortune for the sport leading up to the civil war where popularity declined when the war started. Horseracing has long been associated with wealth, and sophistication in the United States and countries everywhere. Horseracing as well as greyhound racing again became very popular during the time leading up to and during the “roaring twenties” then as expected betting died down during the depression (Riess). During the past couple decades, horse and dog tracks have been losing popularity with the common American population. Tracks as well as stables, which once bred championship horses, are closing down all over the country. “In 1984 Major League Baseball passed thoroughbred racing as the leading spectator sport”(Riess) and since then horseracing has been on a downward spiral, similar to the once popular sport of boxing. Racetracks today have a very difficult time staying afloat without other forms of income like slot machines and other games. Racing’s latest resurgence was on the heels of Seabiscuit around 2003 when bets at the Kentucky derby hit an all time high of 15.9 billion dollars in bets (Krantz). Horseracing is such a big part of the history of this country it would be a shame to lose it. Since 2003 the total racing purses have
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