CHANCE AND HORSES

 

 

Published by El Nuevo Herald on November 28, 2012

 

 

When it comes to gambling, many immediately think of the lottery and casinos, which effects come to be not only a promising game, but also a form of entertainment for adults. However, there are other forms of entertainment where the game is also present and the odds of winning are much higher. Particularly, the races are a prime example that illustrates this statement.
While the chances of hitting the Florida Lotto are one in more than 22 million in horse racing are one among only twelve competitors. That is, if just twelve horses run, only one will win unless there is a tie, in which case there are two winners. More contrast is the Power Ball, which has a chance to win the grand prize, chosen from a total of 175 million possibilities.

 

In addition, in horse racing coinciding a number of factors absent in the lottery. For example, while the chances of hitting the lottery in 99% depend on luck, in the races the jockey, the trainer, the track conditions and the blood of horses are involved in making betting decisions. Unquestionably chance is important, but knowledge is helpful.

The economic crisis that has plagued the country in recent years has affected the racehorses industry. The proliferation of gaming crowd who have come to compete in this sector has decreased the volume of betting on horses.

The three racetracks to compete in the Great Miami, along with greyhound racing and Jai Alai, have accepted the proposed installation of casinos on their land to supplement their income. The historic racetrack Hialeah Park, hopes to complete by mid next year the launch of a thousand slot machines Vegas style, as part of an initial investment of $ 1,000 million to revitalize all areas adjacent to the racetrack, impacting the city of Hialeah by creating 8,000 direct and indirect jobs.

 

For the same economic crisis, the number of horses produced has decreased. This has affected the public spectacle of horseracing, with few specimens entered in each competition. For this reason, the state of Florida should re-regulate horse racing. In this way each racecourse will have its operating fixed dates. Thus, Gulfstream Park, Calder Race Course and Hialeah Park will enjoy their respective seasons, with all customers and the same horse universe, rotating for each racetrack.

 

This regulation is not only in the interest of all parties but in the creation and maintenance of jobs in each area and in the spectacle itself of horse racing.
 

BENJAMIN F. DeYURRE 

Economist and Journalist.