Horse racing has taken quite a bashing in the media lately, therefore let’s set the record straight; contrary to what you may have heard elsewhere, horse racing is alive and well in America!
To substantiate this claim, let’s do a Transient History of Time (with apologies to Stephen Hawkings). Up until the 1950’s horse racing was the most common sport in America. Then race track owners created one among the most significant blunders in sports and business history. Fearing that it would prevent not off course attendance, they rejected tv’s provide to broadcast horse racing nationally. Rebuffed by horse racing, the fledgling television business turned to its second choice, baseball. Today horse racing is still the second largest spectator sport following, yep you guessed it, baseball.
Fast forward some decades and let’s take a look at all the positive things that have happened for horse racing. Within the late eighties simulcasting came into existence. This allowed a number track to broadcast races to different tracks and also the guest tracks to display and settle for wagering on those races additionally to their own. Track owners were fast to jump on the simulcast bandwagon since they viewed it as a suggests that to fill time between races. They failed to work out what impact it might have on their live attendance and handle and were slow to capitalize on the additional revenues to be generated from off beam wagering. In 1993 simulcast wagering accounted for 40% of all wagering conducted at racetracks in North America. It’s since grown to a staggering 88% of all wagering.
Throughout this same time a new technology was growing into worldwide acceptance, the internet. This opened Yank racing up to a global market. With streaming video simulcasts and each onshore and offshore wagering shops, the world will now watch and wager on North Yank races. All legislation aimed at eliminating internet gambling has specifically excluded horse racing, making it the primary legal source for wagering among the U.S. and in most countries throughout the world.
In an ironic twist, the game that once rejected television currently has tv channels like TVG and HRTV devoted to twenty four hour coverage of nothing however horse racing. One can set in the comfort of one’s own home and watch and wager on races from across the nation.
By 2001 advance deposit wagering, ADW, became legal in the majority of the U.S. allowing someone to deposit funds and later wager via phone, internet or mobile devices like cell phones and pda’s, creating it that much easier to wager on horse racing.
Handicapping contests have increasingly grown in popularity with the ninth annual National Handicapping Contest and the third annual Horseplayer World Series having simply concluded in January, here in Vegas, every with $one million greenbacks in prize money. There are many contests hosted by numerous organizations as well as race tracks, casinos and racing publications, thus there are literally hundreds of contests over the course of the year that one may enter to test their skills against different players for bragging rights and prize money.
The foremost recent professional-racing incidence is the advent of “racinos”, racetracks that supply alternative forms of gaming. Harrah’s, one in every of the largest casino operators, purchased Louisiana Downs a few years ago and has since designed a casino at the track where one will watch and wager on races whereas playing slots. Several other tracks have now created their own racinos and most of the others are pushing for local legislation to allow them to follow suit. The tracks are using this new supply of revenue to enhance their facilities and to increase their racing purses. After all North Yank gross purses reached record levels in 2007 with tracks like Philadelphia Park, with their initial full year of slot machine gaming, posting a seventy eight% increase in purse cash over 2006.
Therefore where is the gloom and doom you hear therefore a lot of about horse racing? Let’s take a look at the numbers. The United States horse trade contributes $101.5 billion greenbacks to the U.S. economy and employs the equivalent of 1.4 million full time employees. The direct price of horse related merchandise and services in America is $39 billion, greater than the worth of motion image services, furniture and fixture producing, and even textile and attire manufacturing.
Over the past 15 years, horse racing has experienced a fifty% growth in total wagering with 11 years increasing over the previous year. True there have been 4 years of modest decline in handle, however solely one of those years (2005) exceeded a .05% drop. Distinction that with major North Yank industries such as auto manufacturing and horse racing’s performance would have auto business executives dancing within the aisles.
Now even this is often not a practical examine horse racing as a result of all the published figures are equipped by The Jockey Club, owned primarily by distinguished Thoroughbred homeowners, breeders and race tracks, and are based mostly on the pari-mutuel wagering pool comprised of wagering at race tracks, sports books, OTB’s and licensed internet and telephone wagering sites such as YouBet, XpressBet, TVG, HRTV and also the like. What’s not reported is the wagering conducted at non-pooled sites as well as Bodog, Sports Book and All Horse Racing to call solely a few. These sites have steadily siphoned off “handle” from the pool as they usually pay full track odds, provide signup and reload bonuses and don’t withhold taxes or report winnings. How a lot of is wagered at these sites and others like them? Nobody is aware of except the operators and they are not telling.