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Secondary Pari mutuel Oganizations It's not whether you win or lose, but how you play the game. In the age of horse racing, that statement takes on new meanings:
Submitted by huntimes on April 17, 2006
Category: Miscellaneous
Words: 2282 | Pages: 10
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It's not whether you win or lose, but how you play the game. In the age of horse racing, that statement takes on new meanings: Only a few people in the world can beat the game of horse racing. And the challenge of the game cannot ever really be defeated because; the circumstances are always changing and thus, creating a never ending challenge. This is much like the climate of the pari-mutuel racing industry today. The days of monopolies are gone and the challenges of the competitive market are here. The market is filled with mega companies vying for the entertainment dollars available. This shrinks the piece of the pie available to the racing industry. In the present day, finding vehicles to the future in this competitive market are essential. The Secondary Pari-Mutuel Organizations (SPMO's) are valuable to assisting with the industries path to the future. CDI's position is that a good business model is one in which every participant benefits. With this in mind, it is critical that the model for dealing with the SPMO's changes. The umbrella of integrity must protect our decisions for a better racing tomorrow. Therefore, it is necessary to monitor, and regulate the track and SPMO relationships. In addition, the economic paradigm for the racing industry needs to shift towards higher retention of revenue within the agreements with these organizations. At present, the model is set up with the SPMO's having the crème de la crème of deals.
The NTRA Wagering Systems Task Force defines "Secondary Pari-Mutuel Organizations" as pari-mutuel operations in which no live racing is conducted, but its main source of revenue is derived from wagering on simulcast races. It provides rebates ranging from 5 to 10% to its customers. The patrons utilize the internet, computers, telephones, and other specialized ways to place the wagers. The owners of these organizations are often not clearly identified and often have very little U.S. regulatory oversight. Other noticeable...
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