Stamina

This is the first of a three-part series examining the structural condition of American horse racing. If you follow the news of the American horse racing industry, you will find yourself staring at diametrically-opposed signals: The handle going down and purses going up. Racetracks closing down and auction sales hitting new records. Record Kentucky Derby viewership while FanDuel TV says goodbye to its audience. To make sense of these Jekyll and Hyde conditions, I decided to dive into the numbers and analyze the macro forces that shape our industry. I...