California purses

Turf Paradise, which only weeks ago seemed either destined to remain dormant and in disrepair or perhaps even ready to face the wrecking ball, appears to be in the midst of orchestrating a remarkable comeback. Track management, horsemen, and regulators all expressed confidence and a renewed sense of optimism during Thursday's Arizona Racing Commission (AZRC) meeting that the Phoenix track was on target to hit a Jan. 29 start date for the first commercial-track meet in the state since May. Several stakeholders underscored during the Dec. 14 meeting that a...

Santa Anita's winter meet, dubbed the 'Classic Race Meeting,' will open on its traditional Dec. 26 date with a new minimum stakes purse of $100,000 for both dirt and turf black-type events. In addition, allowance races will get a boost, with all open allowances set at $85,000 and first- through third-condition allowances run for purses ranging from $72,000 to $76,000. It is the largest purse structure in Santa Anita's 88-year history. "There's no denying that expenses are up, across the board, in all facets of our economy," said Santa Anita...

California's Del Mar Thoroughbred Club is set to deliver purses above $25 million for its 31-day summer meet, with the daily average purse payout of more than $800,000 the highest in the history of California racing. Overnight purses and the value of 21 of the seaside oval's stakes will be raised by a blended rate of 15%. Among the most prominent races to see increases are the GI Bing Crosby S. and the GI Clement L. Hirsch S., both of which will climb from $300,000 to $400,000. Gross purses for...

California's purse and handle numbers are in, and after the pandemic-stricken figures of last year, there's plenty of reason for encouragement. A 13% increase in California races over 2020 translated into a 17% increase in all source handle and a 19% increase in purse generation. "Handle is up everywhere, including Southern California, which generated really nice purses for us in 2021," said Gary Fenton, chairman of the Thoroughbred Owners of California (TOC). "It's created this momentum for us," Fenton said, pointing to the purse enhancements offered by Santa Anita and...

Santa Anita will increase purses for overnight and stakes races for the upcoming Winter/Spring Meet, which opens Dec. 26. More specifics will be released soon, but maiden special weight races will increase by $6,000 to $67,000; first condition allowances will be upped $6,000 to $69,000; and $25,000 claiming purses will rise by $4,000 to $40,000. The increases are in partnership with the Thoroughbred Owners of California (TOC). "There are now many reasons to be optimistic about 2021 and beyond," said Santa Anita's senior vice president and general manager Nate Newby....

After a pandemic-stricken year in which ADW revenues hammered California industry coffers, the first month of 2021 brought with it a flurry of budgetary and purse account developments in response. First came the announcement from the Thoroughbred Owners of California (TOC) that they had reached an agreement with TVG, the Del Mar Thoroughbred Club, The Stronach Group's 1/ST Racing, and NYRA to inject some $15 million into the purse fund over the course of two years. In response, a subsidiary of the gaming corporation Churchill Downs, Inc. (CDI) filed a...

Last week, the Thoroughbred Owners of California (TOC) announced a roughly $15-million, two-year "purse enhancement" program as part of an agreement with TVG, the Del Mar Thoroughbred Club and The Stronach Group's 1/ST Racing. The reason for the new program is simple: an unprecedented betting shift toward ADW platforms over the past 11 months has hit the California purse account hard. Not just the purse account. This shift has similarly clobbered several key industry programs that rely heavily on wagering made at brick and mortar venues. The Southern California Stabling...

Recently, TDN published a data set illustrating how the racing industry in California has undergone a dramatic shapeshift, both before and during the pandemic. New betting patterns have constituted a quarter-billion-dollar boon for the advance deposit wagering (ADW) industry at the expense of the California horsemen's purses. In a nutshell, as compared to a comparable period in 2018, the number of races this year has declined 30%. Although the overall handle has declined 18.8%, purses have dropped more than 26%. To discuss these findings, we spoke with Thoroughbred Owners of...