Tuesday, September 30, 2008


It was reported today (hat tip to Ray at the Paulick Report) that the state of Pennsylvania has received over $273 million from slots.

In other news, the trifecta and superfecta takeouts at Penn National are 31%, equal to the Massachusetts state lottery and the highest in the nation.

If you give a company a $273 million dollar break, it is usually reflected in a benefit via pricing to a consumer, because that is the only way a business survives. It also tends to result in an increase in sales. Not in racing, however. Despite this massive increase in purses, and racedates, handle in Pennsylvania fell. This is a correlation we are seeing time and time again as this business clings to the monopolistic business model of the 19th and 20th centuries.

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