wagering

Handle Soars in July, Tops $1 Billion

The total amount wagered on U.S. races in July saw a 16.63% increase over 2019 figures, the best month the sport has had this year and a sign that the effects of the coronavirus are no longer negatively impacting handle. The July handle of $1,098,728 was the first $1 billion-plus monthly handle on the year. Prior to the release of the figures, there had already been signs that July was going to be a good month. The handle for GI Haskell S. day at Monmouth was over $20 million, the...

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TIF Special Report: Racing Not Only For the Elite

Instead of #FreeDataFriday, the Thoroughbred Idea Foundation is released a special report: "Racing Not Only For (the) Elite," which focuses on wagering and the horseplayer, The TIF stated that: "The report is the culmination of months of research, conversations across informed pockets of the industry and extreme frustration. The frustration is grounded in an assessment of the current state of racing when combined with the realization that the industry commissioned a detailed study that identified these current issues 16 years ago, when their impact was far smaller than it is...

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Monmouth Posts Record Handle on Haskell Day

Monmouth Park set a track record for handle for a non-Breeders' Cup day when bettors wagered a total of $20,479,392 on Saturday's 14-race GI TVG.com Haskell S. day card. The record handle was achieved despite restrictions for on-track attendance due to COVID-19 guidelines. The overall handle from all sources surpassed the previous non-Breeders' Cup record of $20,024,509 set on Haskell Day on Aug. 2, 2015. It is only the second $20-million handle for a non-Breeders' Cup program in Monmouth Park's 75-year history. Authentic (Into Mischief)'s nose victory over Ny Traffic...

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Handle Rebounds in June

According to figures supplied by Equibase, total wagering on U.S. races rose slightly in June, a welcome development after handle plummeted in March, April and May, the months when racing was most impacted by the coronavirus. A total of $998,448,300 was bet during the month, a 0.76% increase over 2019 numbers. Handle was off by 30.16& percent in May, 24.42% in April and 22.8% in March. The improved handle numbers were the result of more racetracks opening up, albeit most without fans allowed in the stands. The number of races...

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Indiana Has Best Wagering Week

Indiana Grand Racing & Casino recorded its best wagering week ever in handle. Over the first four days of racing, a total of $9,867,445 was wagered on 35 Thoroughbred and 10 Quarter Horse races. The previous best week of handle was recorded during Indiana Derby Week in 2019. A total of $8,673,496 was wagered over four days to establish a new record for most handle recorded in one week of racing. "The reception of our racing program on a national level has been outstanding," said Eric Halstrom, vice president and...

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Belmont S. to Anchor Two-Day Pick 5 Wager

A Pick 5 wager spanning Friday and Saturday and culminating with the running of the GI Belmont S., will be offered by the New York Racing Association. The sequence will be a $1 base minimum and will feature a low takeout of 15% and a mandatory payout. The Pick 5 will kick off with Friday's seventh race at Belmont, a seven-furlong optional-claiming event on the turf for older fillies and mares, with post time at 4:32 p.m. ET. The race has drawn a field of 11, with one main-track-only entrant....

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Open Letter to the Industry: #FreeDataFriday Vol. 37: Where’s the Takeout Menu?

Amongst serious horseplayers, takeout rates in pari-mutuel pools are a frequent discussion. It should be a focus of breeders, owners, trainers and track operators. Unless they are serious bettors too, takeout rates rarely "get a run" from those constituencies, though. Our recent #FreeDataFriday piece highlighted the impact of various takeout rates on win pools at three different tracks. The higher the rate, the lower the return to winners--and thus, the less they would have to churn through the pools and start another cycle of betting. Recently, a few bettors lamented...

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Making Betting More Friendly: Brian DiDonato

With racing's temporary opportunity as the only game in town, the TDN's Katie Ritz took a poll of some industry insiders known to like a good bet and asked them: what is one simple way that tracks could make betting more friendly for existing horseplayers and/or more effective at bringing in new players? As you'll see, none of them could stop at just one. My answer will probably differ from most, as I think there's far too much focus on trying to cultivate an army of novice $2 bettors and...

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Open Letter to the Industry: Data, Wagering and the Future of Racing

Editor's Note: the following is part of the Thoroughbred Idea Foundation's weekly 'Free-Data Friday' series. #FreeDataFriday--VOLUME 17: DATA, WAGERING AND THE FUTURE OF RACING At some point the horse racing industry--owners, racetracks and industry organizations--stopped caring about gambling on live horse racing. If gambling on horse racing was any sort of priority, distributing free data would be one of the first things the industry would do. Get data into the hands of customers. Despite their massive contribution to racing, horse owners are required to relinquish any rights to data, even...

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Open Letter to the Industry: Confessions of a Millennial Bettor and Data Hound

Editor's Note: the following is part of the Thoroughbred Idea Foundation's weekly `Free-Data Friday' series. #FreeDataFriday-VOLUME 16: CONFESSIONS OF A MILLENNIAL BETTOR AND DATA HOUND TIF Note: To those who control the keys to data in American racing--The Jockey Club, Equibase, Thoroughbred Racing Associations of North America--and to the owners of Thoroughbreds who wish to continue racing, enjoying prize money and a more sustainable sport, we suggest you read this first-person account carefully, considering how these organizations can create a better future for engaging customers with vastly improved data offerings...

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The Changing U.S. Betting Landscape Can Deliver Both Higher Handle & Purses

Lessons Learned from Australia Racing Prove when a Gambling Pie Grows, It Can Benefit Everyone Back in 2008, Australia began opening up their betting markets. In particular, corporate bookmakers and exchanges were allowed to flourish, offering racing and sports betting customers myriad choice. As we've often noticed in horse racing when presented with something new, in 2010, the sport down under was in full protection mode. They fought the changes in court, predicting "the total destruction of the racing industry as we know it," and "all 50,000 participants in the...

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