wagering

The Supreme Court of Kentucky ruled Jan. 21 that it will not rehear an appealed Sept. 24 decision that told a lower court to re-examine the legality of historical horse race (HHR) gaming in the commonwealth, keeping the most crucial form of funding for purses at the state's five Thoroughbred tracks in peril. HHR handled $2.2 billion during the Commonwealth's most recent fiscal year, and revenue from that form of gaming annually contributes tens of millions of dollars to the Kentucky purses. This form of gaming has been operational--but challenged...

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...

Northern Kentucky's Turfway Park wrapped up a five-week holiday meet Dec. 31 with increases in wagering, average daily handle, and field size. All-sources wagering for the meet was up to $32.3 million, a 34.6% or $8.3-million increase from last year in spite of three fewer race dates. The average daily handle of $2.48 million was up 65.6% from the previous year's number of $1.5 million. In addition, average field size grew slightly from 10.3 starters per race to 10.5. A new Tapeta surface was installed last summer. Jockey Gerardo Corrales...

Despite a racing calendar ravaged by the coronavirus, all-sources handle on U.S. racing in 2020 declined by just .98%. According to Equibase, total handle on the year was $10,925,226,444 or $108,597,919 less than what it was in 2019. Had the Triple Crown races not been rescheduled, it's possible that handle might have risen on the year. The total handle for the three race days combined dropped by $208 million, or more than what handle was off for the entire year. "The horse racing community is extremely resilient as borne out...

The New York Racing Association, Inc. announced the Empire 6 wager will offer a daily mandatory payout in the month of January beginning with Aqueduct's New Year's Day card, which is highlighted by the 151st renewal of the Jerome S., a one-turn mile for sophomores offering 10-4-2-1 Kentucky Derby qualifying points to the top-four finishers. First post on Friday's nine-race card is 12:20 p.m. EST, with the Empire 6 set to kick off in Race 4 (1:50 p.m.) Featuring a $0.20 bet minimum and 20% takeout, the Empire 6 wager...

Despite the rise in the COVID-19 infection rate in many states around the country, wagering on U.S. races managed to remain relatively stable, with only a slight dip from 2019 figures. A total of $895,325,220 was wagered last month, down 6.33% from November of 2019. Year-to-date figures decreased only 1.48% from $10,326,096,182 bet in 2019. Both figures include worldwide commingled wagering on U.S. races. In November, average wagering per race day jumped by 35.49% up to $3,996,998, while the year-to-date figure showed a similar pattern, rising by 33.78% to $3,310,512....

by Thoroughbred Idea Foundation Editor's note: The following open letter to the industry was submitted by the Thoroughbred Idea Foundation, a think tank and advocacy group which aims to improve the sport of Thoroughbred racing for all stakeholders. The passage of the Horseracing Integrity and Safety Act (HISA) would signal a prominent turning point for Thoroughbred racing in America. Regardless of where one has stood on the merits of the legislation over the years, its passage will bring to an end a generation of discord between industry participants, enabling our...

The New York State Gaming Commission adopted three new wagering rules that will provide bettors more options in the sport of harness racing in New York. The rules were adopted by the Commission at the Nov. 30 meeting and will take effect on upon publication in the State Register. "The new wagering formats will provide increased opportunities for bettors, and, we hope, increase interest in the sport. Any increase in handle is beneficial, as it ultimately leads to incremental purse offerings at racetracks here in New York," said Commission Executive...

Courtesy Thoroughbred Idea Foundation   Racing needs a long-term plan which will put the sport on a path to raise handle to nearly $50 billion annually with more than $5 billion held by the industry by 2040. Sound optimistic? Falling well short of that goal would still be a monumental accomplishment given we are on track for another year at just $11 billion in handle, and down nearly 50% in the last two decades, adjusted for inflation. So where are the plans from the industry to start thinking long-term about...

As a service to the industry and in consideration of the economic changes due to the COVID-19 outbreak, Equibase is currently providing monthly reporting of its Economic Indicators Advisories. The Advisory is typically disseminated on a quarterly basis to provide key metrics used to measure racing's performance throughout the year. October 2020 vs. October 2019 Indicator October 2020 October 2019 % Change Wagering on U.S. Races* $929,063,211 $776,071,164 +19.71% U.S. Purses $90,845,317 $91,981,753 -1.24% U.S. Race Days 340 334 +1.80% U.S. Races 2,852 2,754 +3.56% U.S. Starts 22,410 22,176 +1.06%...

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...

Like an overzealous professor, the pandemic has taken a bright red marker to the status quo, with the racing industry very much on the receiving end of this economic revisionism. When it comes to California alone, startling betting patterns have emerged with potentially serious ramifications for the long-term sustainability of the sport in the state--that's according to handle and purse data from the first eight months of the past three years put together for the TDN by the Thoroughbred Owners of California (TOC). Among the key takeaways is this: While...