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Originally Posted by blackdog1
Why do you think it's called the game of kings?
No punting = no punters = no TAB = no money for racing.
Only the rich could afford to keep racehorses and punting would be a limited black market affair, not benefiting racing.
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It's called the sport of kings because only the rich could afford to race horses.
Trainer fees, jockey fees, vet bills, nomination fees etc etc.
This was prior to syndications.
The bulk of the money for racing events these days comes from sponsorship.
In the old days it came mostly from the TAB and bookie turnover taxes, and prior to that, attendances by punters through the gate and their food and beverages plus racebooks.
I agree that we'd return to the blackmarket days of the SP bookies, however, I don't think racing would survive, because who would want to sponsor a race that nobody was allowed to bet on.
However, the Melbourne Cup would be the one day. Because the vast majority are there for a party and picnic.