Horse Racing

Positive Trends Kicking off the second half of 2022


A week ago, I wrote about the 2022 season getting underway on schedule for record awards but lamented that in the first half of the year, the industry has failed to build a profit from its pari-mutuel bets. year 2021.

Well, a week makes no difference.

This month, racing has certainly enjoyed one of the strongest “daily” pari-mutuel bets of the year thanks to a strong start Racecourse Saratoga encounters, as well as a new coin split in Kentucky that allows players to retain more of their winnings, and the continued success of smaller races taking advantage of race days vacated by larger races.

We’ll see how this all plays out in the final months of 2022, but a strong July suggests racing can turn around the flat pari-mutuel record of the first half of the year, where the handlebar fell 0.19%. Some might say that sustaining the performance of 2021 — when pari-mutuel bets on US races soar 11.8% from 2020 — has been a one-year achievement in terms of volume. Three Crown echoes are limited, but keep in mind that in recent years, racing has gained beyond its greatest racing days.

With that in mind, the logical goal is to increase the pari-mutuel odds by a few percentage points this year and maintain the momentum into 2021.

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Reasons for optimism include Strong start to Saratoga . meeting. The first four days of racing there saw an 18% increase in all sources to $106,401,827, with on-track handling up 18% to $17,401,827.

“Fan interest and engagement with the summer meetup at Saratoga Speedway is at an all-time high,” said New York Racing Association CEO and President Dave O’Rourke. know. “We saw that on display during the Opening Weekend presented by Runhappy, creating a betting record and increasing the number of paying participants by 10%.

“Saratoga’s stand out as a destination continues to grow in popularity, and we thank our fans for their enthusiastic support of the summer get-together. Beyond the gates, the NYRA is pleased to play a central role in promoting it. economic activity and tourism throughout upstate New York. We look forward to all that lies ahead this summer at Spa.”

It was a great start to the 40-day meeting, and one thing I will add is that the NYRA does a lot of marketing for this meeting. I think these kinds of numbers show that such marketing efforts will pay off. In a sport with almost no national marketing campaigns, such local efforts are essential.

Speaking of marketing, Ellis . Park (and the Thoroughbred Idea Foundation) did a great job announcing that this would be the first American track to offer broken coin when Kentucky turned to this professional approach in awarding payments. As more money is put into the player’s pocket, the Kentucky race should expect an increase as the player places the winnings back through the window (or, more accurately these days, the pre-deposit betting app of the game). surname).

In recent years, racing has also significantly improved its schedule. With the NYRA moving the Saratoga meeting to five days a week in 2019 by skipping Mondays, songs like Colony Downs, Finger Lake, Indianapolis horseshoe, and others have done a great job of moving into that space. I love the added touch of moving some of the top races onto these cards. The 18th of July card at Colonial features a betting pair for top sprinters, and Finger Lakes serves the New York Derby for state-bred 3-year-olds.

Marketing the sport, making the gambling product more competitive and improving the schedule are all efforts to give racing a chance to build on betting success in 2021.



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