Betting on U.S thoroughbred horse races dropped 7.16 percent in 2008 from they year before, according to statistics released today by Equibase, the industry's record keeper.
The final tally was $13.67 billion, a drop from $14.72 billion in 2007.
The December decrease was 20.3 percent, to $820 million from $1 billion in December 2007.
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January 06, 2009
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It looks more like free fall driven by the availability of other gambling venues such as slots, casinos and lotteries.
Posted by: Eli Rabett | January 06, 2009 at 09:00 PM
Eli,
It is likely a combination of the two. Gambling used to be recession proof but now with ready alternatives, a drop in income leads gamblings to hit the slots instead of the more expensive day at the races.
Posted by: Lonewolf | January 06, 2009 at 09:16 PM
Alternatives do changed the gambling industry specially in these tough economic times.
Posted by: Online Gambling | January 18, 2009 at 10:19 AM