Issue link: https://read.uberflip.com/i/1105396
C O N S T E L L A T I O N C O N S T E L L A T I O N 00 WinStarFarm.com Thoroughbred Idea Foundation The most important part of the mission to me is to get the owner and gambler to be represented in a better fashion throughout the industry, that's the bottom line. Jack Wolf " " "It's an urgent message," Matties continued. "Horsemen have the power to make change but they have to look at the bigger picture; they can't just say, 'how does it affect us right now?' Running in short fields for big money might seem like a good idea for tomorrow but what about next year or in five years? Over time, we're all better off using that money to show that racing is a better product than sports betting or casino gambling." Not surprisingly, Bernick agrees. "We must change how we position racing to customers or it's going to get smaller and smaller," he said. "Racing is set up for the people that work in the business, not the people who put money into the business. Anything long-term that makes the business better for gamblers and owners will improve the business overall long term because they're the ones who pay the bills." Making Progress One thing any organization can use, especially in its infancy, is a win. And while nothing is certain, it does seem like progress is being made on the issue of breakage, the money that remains after a mutuel payoff is rounded down, the topic of the first TIF white paper. "Approximately $50 million in breakage is held by racetracks, ADWs, horsemen's groups," Bernick explained. "If that money is returned to players, if there's no rounding down to pay mutuels, we think that $50 million returned to players would generate $200 million in churn." The paper makes a compelling economic case and has been well received, with the TIF currently working with one major group in the hopes of instituting a new model for breakage which will benefit everyone involved. The hope is that by getting one racing jurisdiction thinking in a forward way, others will follow suit. "Progress doesn't happen all at once," said Bernick, "It happens step-by-step." He hopes that those steps lead down a path where racing's future is secure, not just for those of us participating in the sport now, but for generations to come. My eyes have been opened in so many ways, the effect of breakage, the opportunity for fixed-odds betting, these are things that could really help racing. Donna Barton Brothers " " C O N S T E L L A T I O N 16 WinStarFarm.com