This week's issue of The Economist, contains an article about horse racing in China. Normally ahead of the game, The Economist takes a back seat to Not to the Swift, who has been following the progression of Sino racing.
The Chinese, while not allowing outright gambling, issue free lottery-like ticket vouchers and if your horse wins, it entitles you to a certain number of lottery tickets.
US tracks, following this example and cashing in on the masses' desire to pay the stupid tax, could apply for a license to sell lottery tickets.
Maybe even make the tracks a state unemployment agency. After all, in England, the best place for a betting shop was:
At one point in the 1970s it was said that the ideal location was "close to a pub, the Labour Exchange and the Post Office", the first being a source of customers in a good mood, the other two being sources of ready cash in the form of The Dole and state pension money, which was dispensed through Post Offices at the time. -WikipediaDavid Stern, NBA commissioner, was on the floor of the NYSE, commemorating the 30 years of Sino-US relations and promoting the NBA expansion into China.
Maybe Waldrop could call Iavarone and have him set up a confab with his broker buddies; try getting the NTRA some exposure. After all, those Wall Street types will bet on anything. Then again, those same broker buddies are probably in the unemployment office.
Funny, how it all comes full circle...
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1 comment:
The last time China said it would allow racing, somebody stepped on somebody else's toes and the approval was pulled out at the last minute - and hundreds of thoroughbreds were slaughtered. Let's hope things go better this time around. Really, it's a no-brainer. If they follow the Hong Kong example, it will be wildly successful (and not bad for the horses, either!)
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