There are theories that's what saved horse racing
HUGE difference.........let me explain. Horse racing was the only legal betting entity for a long time and as such sent
a portion of that gambling "take" to the State as a pari-mutuel tax. The more money wagered the more the tracks made and the Government.
As interest in horse wagering has waned so to has the take to the State. The result of that is other forms of gambling are now allowed and continue to send revenue to the State. Part of that revenue is used to support the purse structure at the horse tracks that really have fallen on hard time. Actually is a form of welfare to the tracks to keep the horse racing business afloat. Not enough money is coming thru the betting windows to sustain it by itself. Now short track auto racing is a whole different animal. Since wagering isn't a part of it in the traditional sense and the State doesn't get a "take" from it, it's like any other private business that is subject to market forces to stay afloat and keep operating. A direct subsidy wouldn't fly politically and you don't want the State getting their hands on it anyway. Racing has enough issues as it is and having the government "run it" would kill it for sure.
