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Brinkman’s Cilla Raises the Bar for Louisiana-Breds

MarketWatch: Brett Brinkman

 

Cilla thrust Louisana-breds into the spotlight with her gritty upset victory in the Sept. 4 Prioress Stakes (G2) at Saratoga Race Course. The daughter of California Chrome  hails from Brett Brinkman’s farm in Cajun country, Louisiana, where Brinkman bred, raised, and broke the filly that would provide him with one of the biggest thrills of his career.

Brinkman, the co-owner, co-breeder, and trainer of Cilla who operates Le Mesa Stallions in Carencro, La., spoke with BloodHorse MarketWatch about his early beginnings in the industry, acquiring Cilla’s dam, the successful race mare Sittin At the Bar, and why he believes the Louisiana Thoroughbred Breeders Association program offers breeders significant value on the racetrack.

 

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Pinhook Market Trends Point to ‘Up’ Market in 2018

MarketWatch: Yearling-to-juvenile pinhooks

 

If the recent cycle of North America’s 2-year-olds in training market stays true to form, this year should be an “up” year for yearling-to-juvenile pinhookers. The market has been on a moderate roller coaster since 2014, with the percentage of profitable horses sold ranging between 41% and 50%. The rate of return has fluctuated more, ranging from 25% to 55% during the past five years but on a generally upward curve.

Profitability and ROR are derived from similar assumptions. A horse is considered profitable if its 2-year-old price minus a 5% sale commission exceeds the yearling sale price plus $20,000 for the cost of breaking, training, and upkeep. ROR is the percent difference between the average yearling price plus maintenance cost and the average net 2-year-old price.

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Growth in Average Daily Purses Among U.S. Tracks

MarketWatch: Top 10 tracks by percentage increase

 

Changes made in 2017 to federal tax withholding and reporting on winning pari-mutuel wagers was expected to boost overall handle figures by promoting more churn through the windows. Higher churn was then expected to boost purses, which are fueled largely from a percentage of wagering.

Expectations came to fruition, with Equibase reporting growth in both United States purses and handle reported for 2018. Wagering increased 3.3% to more than $11.26 billion and purses grew 3.5% to more than $1.11 billion.

Just how deeply were racetracks affected by this growth?

Significantly, according to an annual review of average daily purses compiled per track by BloodHorse MarketWatch. Look for a complete breakdown in the Feb. 16 issue of BloodHorse magazine. In the meantime, MarketWatch wanted to see which of the larger race meets saw the biggest increases in average daily purse between 2017 and 2018.

Our annual purse review includes racetracks that ran at least five live dates and paid gross purses of $100,000 or more. These criteria fit 84 racetracks in 2017, of which 46 (55%) reported an increase in average daily purses compared with 2016. In 2018, 80 racetracks met the criteria and of these 50 (62.5%) reported an increase in average daily purse.

Among racetracks running 50 or more days of live racing, Delta Downs reported the largest increase in average daily purse—a 32% increase to $273,809. Since 2001, Delta Downs has had the benefit of slots machines to enhance purses. The top 10 racetracks by percent increase in average daily purse include only two that do not offer any kind of alternative gambling. Those who reported growth without the benefit of slot machines or card tables are Arlington International Racecourse, up 14%, and Golden Gate Fields, up 7.9%.

Arlington was able to increase its purses in 2018 due to an underpayment in the 2017 purse account and because state lawmakers approved more than $1.6 million for owners awards and stakes races, according to the Illinois Thoroughbred Breeders Fund. Arlington paid an average $239,114 in purses last year, which apparently helped raise field size slightly from 7.23 starters per race to 7.46.

Golden Gate Fields was reportedly able to grow its handle by separating its post times from the biggest races across the country, racing secretary Patrick Mackey told the San Francisco Chronicle last August. With bettors more engaged due to the changes in withholding and some additional help from bad weather and cancellations in the East, Golden Gate was able to increase its out-of-state handle by 48% and bolster its total handle by 18%.

“We had competitive races for leading rider and trainer, and not a lot of races with 1-5 or 2-5 shots winning,” Mackey told the Chronicle. “The days of (trainer) Jerry (Hollendorfer) and (jockey) Russell (Baze) winning every race at 2-5 are gone. It’s a different product where you can find betting value. When you have gamblers behind you, they keep coming back.”

 

Leading Racetracks by % Increase in Avg. Daily Purse, ‘17-’18

Includes racetracks running 50 or more live race dates in 2018

Track (State)

’18 Dates

2018 Avg. Starter”

2018 Daily Avg. Purse

% Chg. Avg. ‘17-’18

2018 Gross Purse

Delta Downs (LA)

83

8.68

$273,809

32%

$22,726,110

Mahoning Valley Race Course (OH)

100

8.61

$150,644

18%

$15,064,430

Gulfstream Park (FL)

198

8.30

$469,242

17%

$92,909,925

Arlington Int’l Racecourse (IL)

71

7.46

$239,114

14%

$16,977,066

JACKS Thistledown (OH)

100

7.29

$166,986

12%

$16,698,586

Aqueduct (NY)

91

7.16

$541,328

10%

$49,260,878

Albuquerque Downs (NM)

53

8.04

$89,165

9.6%

$4,725,732

Churchill Downs (KY)

70

8.23

$567,787

9.3%

$39,745,062

Laurel Park (MD)

156

7.77

$342,471

8.9%

$53,425,438

Golden Gate Fields (CA)

150

6.93

$152,590

7.9%

$22,888,444

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