economics

Every summer, the New York Thoroughbred Horsemen's Association (NYTHA) takes in a small gaggle of college-age interns--what for many of them proves a baptism of the turf. This year's batch--three Yale undergrads studying economics, electrical engineering and political science--were tasked with a data-driven analysis of the economics of the national horse racing biz over the past 20 years. Harboring no previous relationship with the industry, the three undergrads came in free of prejudice and preconceptions. The result is a 33-page paper weaving piercing and worrying insights into the state of...

The California Horse Racing Board (CHRB) has released its annual report, covering both the fiscal year 2019-2020 and the calendar year 2020. As expected, given the onslaught of a global pandemic, it paints a rather grim economic picture, but there are major positives to be gleaned, chiefly in the equine safety arena. When it comes to the business side of the equation, all-breed total handle generation during 2020 declined by 7% over the prior year. Because of a wholesale shift away from bricks and mortar wagering towards ADW platforms last...