Comments on: Using Breeders’ Cup Preview Days to Engage the New Fan

By: Master Of Hounds

Master Of Hounds — Sat, 04 Oct 2014 20:13:03 +0000

Thanks Mike, I appreciate you continuing the conversation on this point. The future of racing may be boutique meets and “big days.” If your overarching point is that the image and prestige of the sport is hurt (if not destroyed) by low level tracks that survive basically as an excuse for ownership to run a slots parlor, you won’t find any argument from me. Our view, however, is that a sport that has only boutique meets and big days is still very viable. Look at NASCAR — there are NASCAR tracks around the country that host one or two events per year, and then host concerts and other things in the interim. And even if wagering is down $5 billion, there is still plenty of money bet on horse racing and, really, that was the whole point of our article — we think there are some common sense things that can be done to revive horse betting. Would love to hear some more of your thoughts on this, though, this has been fun. Also — one final thing. I don’t know that much can be drawn from NYRA until it re-privatizes. As a quasi-governmental organization, it has been too fouled up by bureaucracy and patronage from the Cuomo administration to glean anything meaningful about its future, in my opinion.

By: Master Of Hounds

Master Of Hounds — Sat, 04 Oct 2014 20:08:10 +0000

Rob, we sure do appreciate you taking the time to read and respond to this article. I don’t disagree with you — if you read some of the earlier posts on this site, we specifically cite the amount of time between races as a negative for this day and age, where people want constant “action.” In fact, that specific concern was the basis for my idea that tracks work to create a robust inter-track wagering menu so that you can bet horizontal wagers among tracks. That way people can have a vested interest in a race every few minutes and there wont be long periods of downtime. Obviously, there is disagreement on this point as well. Prior commenters on this very board have said that shortening the time between races would hurt their enjoyment of the sport. I think creating more inter-track wagers could be a “best of both worlds” situation. I love your thoughts and I hope you keep reading us and commenting. FYI, we also read and enjoy your site and follow you on Twitter.

By: Mike

Mike — Thu, 02 Oct 2014 12:14:40 +0000

We are not really disagreeing. The future of racing will likely be more boutique type quality meets with the small cesspools going dark, good contraction imo.

As to handle, it’s down a staggering $5 billion from its peak at app $15 billion.The generous subsidies to other sports just enhance profititabilty as opposed to racing which stays on life support with it. There are few venues, if any that turn a profit with subsidy $$ backed out of the equation.

CDI, a successful gaming company, is selling off all racing interest except their Kentucky Derby brand. NYRA is on slot life support and most venues are faced with declining attendance,
foal crops and an aging customer base.

Game Isnt dead, but at best in survival mode.

Best luck,
Mike

By: Rob

Rob — Thu, 02 Oct 2014 04:03:25 +0000

Racing is falling behind because of the intense time demand the sport has on fans; for instance, I left at 5:00 and the Unzip Me Stakes hadn’t even been run; the Chandelier post was 5:05. How many fans will consider a sport that runs so late. Second, the time between races is an absolute “new fan” killer…what other sport forces fans to wait 25 minutes between events? I love the game, and will attend for what remains in my life but can’t see new fans loving it like I do.

By: Master Of Hounds

Master Of Hounds — Thu, 02 Oct 2014 01:51:24 +0000

Mike,

Thanks for your comment. I think that you are right, to the extent your comment stands for the proposition that racing, as it is currently constituted, may not have a super bright future. But your cannot escape certain facts: First, its still a multi-billion dollar industry. Second, there is still tremendous interest around the classic races — and TV ratings for those races rival the championships of more “mainstream” sports. Third, the wagering dollars have not significantly declined, even though on-track attendance has — people are still betting. Finally, racing has some significant legal advantages that put it in a position to capitalize on the public’s demand for gaming (though, admittedly, those advantages are eroding).

I am not particularly persuaded by your point about subsidies. Every sport gets generous subsidization at some level — the NFL has an anti-trust exemption. How many pro stadiums are financed using public funds? The list goes on and on. If subsidies are pulled for some tracks in some states, that might lead to some contraction in the industry. I, for one, think that may be a good thing. But you can’t go to the races on a Saturday at Del Mar, or Saratoga or Keeneland, and you can’t attend the Breeders’ Cup or the Kentucky Derby or the Belmont and tell me that there is no hope for racing. You just can’t.

By: Mike

Mike — Wed, 01 Oct 2014 22:24:14 +0000

Racing is without any meaningful upside and really had no takers(See NYRA Franchise) Consultant after consultant conclude any investment in racing to be a poor investment.

Life support subsidies are being reviewed in many States and it’s a matter of time before they are discontinued.

The landscape of future racing looks bleak