From the Kentucky Task Force Report released today. Among the recommendations:
The following funding mechanisms are proposed:
-Increase takeout on exotic bets and win-place-show bets
From the Cummings Report, written in 2004 and paid for by racing to recommend what to do to get racing up to speed in the 21st century:
"Racing has lived with rising rates of takeout for so long that they have become a way of life. They are the line of least resistance whenever the industry needs money. It is all too easy for the industry to see that if we have a constant $100 in handle, and we raise the takeout by one percent, we’ll make a dollar more. It is much less easy to see that handle is not constant and, over the longer term if not the short, we won’t have that $100 any more."
It's been four years since that report. Its findings have come true again and again. Yet still racing does the opposite of what he recommended.
Thanks to Inside the Pylons at Paceadvantage, for pointing this out.