For a business who seems to deflect takeout talk as much as possible (I probably would too if my prices were high) people sure seem to be talking about it.
Two letters to the DRF seem to bear this out.
In an ideal world, every single parimutuel pool would apply a tax rate of not more than 5 percent - there is no logical justification for levying different rates of taxation on different kinds of wagers - and there would be no breakage, since there should be rounding of mutuel payoffs not just downward, as is presently the case, but upward as well. Unfortunately, this ideal world has never been within easy sight for anyone associated with horse racing.
My feelings tell me that if racing is allowed to continue its spiral, there will be no game in a few short years. If we're going down, I would like to go down swinging.
Full text of letters at the above link.
Post a Comment