Category: Frank Angst

Economist: Breeding Decline Tied to Wagering Decline

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At Round Table, economist Lauren Stiroh outlined initial findings of foal crop study.

The estimated 2021 foal crop for North America is 19,200. The last time the foal crop dipped below 20,000? 1965.

The numbers couldn’t be more dramatic.

Speaking at The Jockey Club Round Table on Matters Pertaining to Racing Aug. 14, economist Lauren Stiroh largely tied those declining foal crop numbers to a decline in pari-mutuel wagering as she shared initial results of a study. Stuart Janney III, chairman of The Jockey Club, said it requested the examination of the economics of breeding and racing.

 

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Recent Expansion of H-2B Visas Could Help Horsemen

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Dollars & Sense With Frank Angst

 

A federal program that will allow more temporary workers from three Central American countries, as well as Haiti, could provide some options for horsemen.

The federal government recently provided some good news for horsemen searching for labor options by expanding the H-2B program that provides temporary nonagricultural worker visas. Beginning this month and continuing through September, the Department of Homeland Security and the Department of Labor will make an additional 35,000 H-2B visas available.

 

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HBPA Panel Offers Advice on Engaging With Lawmakers

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Panel was part of the National HBPA conference in Hot Springs, Ark.

 

As government affairs consultant Joe Clabes sees it, when horse racing conducts industry days on state capitol steps it’s perfectly all right for many of racing’s participants to show up in jeans.

“It’s OK if there’s a cowboy hat or two and big belt buckles,” Clabes noted during a panel discussion on how horsemen can interact and build relationships with lawmakers March 3 during the National Horsemen’s Benevolent and Protective Association conference at the Oaklawn Park hotel in Hot Springs, Ark.

Clabes, who has lobbied for the Kentucky industry and the Kentucky HBPA, said seeing that everyday fashion helps remind lawmakers that while racing may be the Sport of Kings, there are plenty of people going to work each day to make a living in the sport and the ancillary businesses that keep it up and running.

 

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Dollars and Sense: Texas-Sized Returns

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At last thrown a relatively small bone by state lawmakers two years ago, Texas racing is taking full advantage.

In September 2019 Texas lawmakers approved legislation that would commit an additional $25 million to the state’s horse racing industry, split equally between Thoroughbred and Quarter Horse purses. Texas has made the most of that small investment.

While Texas is surrounded by racing states that boost purses with money from added gaming—Louisiana, Arkansas, Oklahoma, and New Mexico—it has found a way forward behind its equine and racing tradition along with a pair of quality tracks in major metropolitan areas built in the 1990s in Lone Star Park, in the Dallas-Fort Worth area; and Sam Houston Race Park, in Houston.

 

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Louisiana Horsemen Assess Storm Damage

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Louisiana horsemen were spending the morning of Aug. 27 checking in on one another and assessing any damage after Hurricane Laura battered the state’s coastline overnight.

Karl Broberg, who has finished as the leading trainer by wins in North America multiple times, said his farm near Delta Downs in Vinton, La., sustained heavy damage but no workers or horses were injured. He said there was significant flooding, but the turned-out horses were fine on higher ground.

“It’s draining pretty fast, but there’s still about a foot of water on some parts of the property,” Broberg said. “There’s extensive damage, but all things considered, we’re alright. It just seems that we’re seeing more and more of these powerful hurricanes.”

According to multiple news outlets, the hurricane was listed as a Category 4 storm as it reached landfall near Lake Charles, La., and as of 9:30 a.m. Aug. 27 a number of news sites said the storm was still at Category 2 level as it traveled inland.

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Racing Sees Bump in Overall Handle in June

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Horseplayers are supporting racing that’s available.

Like all sports, racing is facing challenges because of the COVID-19 pandemic, but with extensive coverage on national television, fans are finding the sport.

Those fans wagered nearly $1 billion on available racing in June 2020 as handle for the month actually was up 0.76% to $998,448,300 when compared with June 2019. That bump in handle occurred despite a near 40% reduction in race days to 300. While race dates have been lost as tracks adjust to COVID-19 restrictions, fans are supporting available racing as average wagering per race day jumped 68% in June to $3,328,161.

The available racing product is an upgrade for fans as tracks have spread out their schedules to fill available days—like Monday, Tuesday, and Wednesday cards. And, a reduction in racing opportunities has helped increase average field size, up 14% in June to 8.11 starters.

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Racing Loses a Legend: A.P. Indy Dies at 31

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Classic winner A.P. Indy was the 1992 Horse of the Year.

 

A.P. Indy, the 1992 Horse of the Year and one of the world’s great stallions, died peacefully Feb. 21 at his longtime home at Lane’s End near Versailles, Ky.

Bill Farish of Lane’s End said everyone at the farm was leaning on one another on a difficult Friday. He noted how much A.P. Indy meant to his father, William S. Farish, who bred A.P. Indy with William Kilroy and later came back to own the horse as part of a partnership.

“Anytime Dad visits the farm, his first stop is to go visit A.P. Indy,” Bill Farish said, adding that Friday was a tough day for his dad.

A.P. Indy, a son of Triple Crown winner Seattle Slew, was the leading sire twice, leading broodmare sire once, and among the leaders on both lists multiple times.

 

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Purses Up, Pari-Mutuel Handle Down in 2019

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Decline in pari-mutuel handle ends a four-year stretch of gains.

For all of racing’s problems in 2019, there certainly were plenty of locations where horsemen had reason for optimism behind strong purses. But, there most assuredly are numbers of concern in the year-end economic indicators released Jan. 6 by Equibase.

Fueled by strong purse growth in Kentucky—specifically Churchill Downs—purses for races in the United States increased 4.5% in 2019 to $1,167,921,650 compared with 2018. It’s the second straight season of strong growth for U.S. purses as they improved 3.5% in 2018.

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Jockey McMahon Earns Milestone Victory

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C.J. McMahon earned his 1,000th career win Jan. 1 at Delta Downs.

 

Multiple graded stakes-winning jockey C.J. McMahon celebrated the new year with a milestone win Jan. 1 at Delta Downs.  Riding 3-5 favorite Cavallotto in the fourth race Wednesday, McMahon delivered a front-running score in the one-mile claiming event to secure the 1,000th victory of his career. Cavallotto is trained by Karl Broberg, who in 2019 finished as the leading conditioner by wins in North America for the sixth straight season.

Broberg regularly calls on McMahon and in 2019 the pair teamed to win 132 races from 489 starts, including a victory in the Bluebonnet Stakes with Ima Discreet Lady in April at Lone Star Park.

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Thoroughbred Idea Foundation Calls for Affordable Data

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Group said free, or reduced-price data would spur interest in ownership, wagering.

 

An industry group focused on improving horse racing, especially for gamblers and owners, is calling on the industry’s data collector, Equibase, to share more information for free or at greatly reduced prices. In a White Paper issued March 11, the Thoroughbred Idea Foundation said Equibase should consider the collection and distribution of racing data as a marketing expense and distribute it for free, or as open as possible. The White Paper argues that this approach would attract and retain gamblers while empowering owners to make more educated decisions.

TIF board member Tom Reynolds, an active handicapping tournament player who has become a horse owner through Eclipse Thoroughbred Partners after spending more than three decades as a sales and marketing executive for Pepsi-Cola North America, believes such an approach to racing’s data would help increase interest in ownership and wagering.

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