Horse racing has gone off track in the age of technology?

Racing needs a better presentation, TVHorse racing has gone off track in the age of technology

“As a youngster growing up in New York, I noticed one beautiful part of horse racing was that it brought people together. People that were at each others’ throats on the mean streets of Queens might be seen sharing a racing form and laughing together under the tote board at Aqueduct. And, when the ninth race was completed, so was all the action for that day. The fact there was only one track in people’s itinerary only cemented the bonds. People were loyal and true to the one track in their lives…”

St. George Daily Spectrum Full coverage: Horse racing has gone off track in the age of technology

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Off-track horse race gambling coming to Horsetown USA next month

“If it opens, the Norco enterprise would be California’s 12th satellite horse-race betting venue, Marten said. State law allows up to 45, including 15 in each of three regions — north, central and south, he said

It is no accident The Derby Room is going into the building of a former restaurant, which is being remodeled at a cost of $500,000.

Zolnier said it will be more than a place to bet on Santa Anita and Los Alamitos races, or the Kentucky Derby. It will be a sports bar and restaurant, he said, with 80 percent to 90 percent of sales coming from food and drinks. Zolnier said he views the gambling element as a way to pull people into the eatery…”

THE DERBY ROOM

Location: 3230 Hamner Ave., Norco

Operator: California Horse Racing and Sports, LLC

Open date: Aiming for mid-December

Employees: 30 to 40. Job seekers may apply at thederbyroom.com

Is horse racing dead?  Not in California

Press-Enterprise Full coverage: Off-track horse race gambling coming to Norco after false start

Modernized Treasury/IRS Rules for Wagering a Huge Success

The United States Supreme Court building in Washington DC.

LEXINGTON, Ky. (Wednesday, October 31, 2018)—In the first year of operations under newly modernized U.S. Treasury and Internal Revenue Service (IRS) regulations, there was a $307 million reduction in the amount  of winning pari-mutuel wagers reported to the IRS using form W-2G, according to  statistics released today by the National Thoroughbred Racing Association (NTRA). This reduction in the amount of winning wagers reported was the result of a dramatic 89% decline in the number of winning tickets flagged for IRS reporting. The declines also led to a $35 million reduction in the amount withheld from bettors’ winnings. The new regulations, which took effect Sept. 28, 2017, recast the Treasury’s definition of the “amount of the wager” to include the entire amount wagered into a specific pari-mutuel pool by an individual rather than the prior IRS standard of using only the base amount of the winning wager.

Based on data provided by CHRIMS, which conducts settlements and other services for many of the nation’s pari-mutuel operators, individual racetracks, and the two largest U.S. totalizator companies—AmTote and United Tote—the NTRA estimates the following nationwide impacts over the first 12 months of operation under the new regulations (10/1/2017 – 9/30/2018 vs. 10/1/2016 – 9/30/2017):

  • The gross amount of winning wagers reported to the IRS on Form W-2G declined $307,700,000 (82%), from approximately $374,500,000 to about $66,800,000;
  • Federal taxes withheld from winning wagers and sent to the IRS declined $35,400,000 (82%), from $43,200,000 to $7,800,000; and
  • The actual number of IRS tickets flagged for W-2G reporting by the IRS declined nearly 89%, from approximately 235,100 tickets to only about 26,350 winning tickets.

From a percentage standpoint, the impacts were equally positive for horseplayers, pari-mutuel operators and horsemen across the country—regardless of the size of the racetrack market. The new regulations also provided positive impacts to advance deposit wagering (ADW) operators and their customers.

“The drastic reduction in the number of winning tickets requiring reporting and withholding is consequential in several ways,” said NTRA President and Chief Executive Officer, Alex Waldrop. “Under the old regulations, it was not uncommon for horseplayers to feel the thrill of ‘winning’ only to have their proceeds reported and/or withheld by the IRS. The old regulations were both unfair and a burden to all involved. A significant overreach by the IRS has been corrected thanks to fair-minded officials at the U.S. Treasury.”

There are numerous specific examples of events where the industry benefited from the new regulations.

On-track at the host venues of the Triple Crown races—Derby Day, Preakness Day and Belmont Stakes Day—the combined number of winning tickets required by the IRS to be reported on Form W-2G fell 96%, with the gross amount of winning wagers required to be reported falling by 87% and the amount of money withheld from pari-mutuel winnings falling 71%. It is likely that similar results were realized nationwide.

On-track impacts were most pronounced at Pimlico on Preakness Day, where the number of tickets requiring reporting fell 99% and the number of tickets requiring Federal withholding fell 100% because there were no winning tickets at Pimlico on Preakness Day that triggered Federal withholding.

On-track at the 40-day 2018 Saratoga Meeting, the number of winning tickets flagged for processing by the IRS fell 96%, the gross amount of winnings required to be reported fell 94% and the amount of money withheld from winning bettors fell 91%.

Nilsen's analysis

“The new regulations have been enormously beneficial to every sector of our business,” Waldrop continued. “They would never have transpired without the bipartisan support we received on Capitol Hill and the unwavering support of every segment of the horse racing industry, including thousands of customers who answered our call to action.  Best of all, we will continue to realize the positive impacts from these regulations for many years to come.”

For more than a decade, the NTRA and others promoted legislation to modernize pari-mutuel withholding and reporting. The industry argued that as pari-mutuel wagering increasingly shifts toward exotic bet types like Exactas, Trifectas and Pick 4s, more winning wagers are being reported and more winnings withheld, creating an unfair burden on bettors, pari-mutuel operators and state and federal governments.

Then in 2014, the NTRA developed a new strategy that relied on regulatory, not statutory relief from outdated regulations. Following the new strategy, the NTRA was able to convince the Treasury Department and the IRS to expand the definition of the phrase “amount of the wager” to include the total amount bet on a single ticket (or through an ADW) by an individual into a specific pari-mutuel pool. This one simple change in the Treasury regulations that took effect on September 28, 2017 has led to the significant benefits reported today.

Through September of this year, U.S. wagering has increased 3.95% ($336,724,709) overall while average wagering per race day has increased 7.67% ($180,231), according to statistics provided by Equibase.

Breeders’ Cup Debuts Digital Series Today

Breeders’ Cup, one of Thoroughbred racing’s most prestigious international events, today announces its first-ever digital docuseries. Titled “ALL IN: The Road to the Classic,” the seven-part series will debut on Facebook Watch on October 22 with subsequent episodes premiering over the following days. The docuseries will offer an exclusive, behind-the-scenes look at the competitive and career-making journeys of the owners, trainers, breeders and horses who strive to compete in the $6 million Breeders’ Cup Classic, which will take place on November 3 at Churchill Downs racetrack in Louisville, Kentucky.

The Official Trailer for “ALL IN” is now available for viewing on the show’s Facebook Watch page at Facebook.com/RoadToTheClassic.

“While hundreds of horses start out the horse racing season each spring, only 14 can enter the starting gate at the Breeders’ Cup Classic. With ‘ALL IN,’ we wanted to give fans a never-before-seen look at what it takes to make it to the starting gate and compete in one of the best races in the world, all from an entirely new perspective and on a different platform than what has been previously available,” said Craig Fravel, president and CEO of Breeders’ Cup. “Along with our television partnership with NBC Sports and our growing digital and social media channels, ‘ALL IN’ is yet another form of content we are creating for new and existing fans so that they can enjoy the sport in new and innovative ways. As the first step in a multi-year plan, we look forward to showcasing this docuseries and offering our fans additional content in the seasons to come.”

Breeders CupExecutive produced by celebrity chef and Thoroughbred owner and breeder Bobby Flay and his Rock Shrimp Productions co-founder Kim Martin, along with Hennegan Brothers Creative and Shelly Schulze, the docuseries will usher viewers through the most pivotal moments of the 2018 racing season leading up to the Breeders’ Cup Classic, including Justify’s retirement after his Triple Crown victory and major Classic division races such as the Haskell, Whitney and Travers.

“While the Breeders’ Cup is well known to many fans as the most exciting two days in horse racing, even the most passionate followers are not necessarily aware of everything that it takes to get to the Classic,” said Bobby Flay. “Showcasing the personal stories of the fascinating characters involved is what makes ‘ALL IN: The Road to the Classic’ such an interesting project to me, and I think will make it an engaging series for both longtime fans and newcomers to the sport alike.”

The Road to the Classic Debuts Today Online

“ALL IN” will take viewers beyond the racetrack and behind the scenes into the personal narratives of both prominent industry figures, including Ken Ramsey and Barbara Banke, as well as newer contenders like Uriah St. Lewis, owner and trainer of Discreet Lover, and Chad Summers, part owner and trainer of Mind Your Biscuits.

“ALL IN: The Road to the Classic” will premiere on October 22 on Facebook Watch and will also be available on the Breeders’ Cup YouTube channel. Fans can Follow the “ALL IN: The Road to the Classic” show page on Facebook Watch now to be notified when new episodes are released.

Breeders’ Cup and Univ. of Louisville Team Up

LEXINGTON, Ky. (October, 2018) – Breeders’ Cup, one of Thoroughbred horse racing’s most prestigious international events, and University of Louisville are collaborating on a new communications course, COMM 510, which is being offered as part of the university’s Fall 2018 curriculum. Designed to provide students with practical experience and industry-level knowledge of the social media and public relations fields, the course tasks 16 undergraduate and graduate students with marketing the upcoming 2018 Breeders’ Cup World Championships, taking place in Louisville, Kentucky on November 2 and 3.

“We are excited to collaborate with the University of Louisville to provide this unique opportunity for students looking to build their practical knowledge and experience in the competitive field of communications,” said Bryan Pettigrew, Chief Marketing Officer of Breeders’ Cup. “Every year we seek out interesting ways to collaborate with the local community, and together with our social media agency, Grand Slam Social, we are particularly excited to engage with local students. We look forward to seeing what they come up with to help promote this world-class event.”

During the semester, students have studied and analyzed literature related to strategic planning, influencer marketing, public relations and social media management and communication, among additional topics. Students have been divided into two teams to develop a strategic approach for covering both the Breeders’ Cup Festival and the World Championships on November 2-3. Students have been engaging in a myriad of roles including creative ideation, social listening, content creation, run of show development, influencer management, social media publishing, event attendance and data analysis.

Early this month, students will be presenting their recommendations for social media coverage and will play a key role in implementing their strategy both onsite at Churchill Downs, and remotely. By the end of the course, students will present a final report demonstrating how successfully goals were reached and providing key takeaways for future Breeders’ Cup World Championships.

“We, the students of #FrebergPR, are thrilled to be working with the Breeders’ Cup World Championships this semester,” said Candice Champlin and Megan McLeroy, group leaders of the Fall 2018 course. “This opportunity goes above and beyond the normal scope of classroom learning, providing us with invaluable real-time skills and experience. We cannot thank Breeders’ Cup and Dr. Freberg enough for allowing us this incredible opportunity. Our hands and minds are already fast at work, and we hope to make you all proud!”

“As a working professional in communications and a student in University of Louisville’s Master’s in Communications program, it’s exciting to take part in a project that goes far beyond the classroom. Partnerships like these are real-world examples of the power of public relations and media and the importance of curated content on a global scale,” said Berry Franklin IV, class team leader. “Our class is looking forward to helping the Breeders’ Cup make the races this November a success.”

The graduate-level course is being offered through the Department of Communication in the College of Arts & Sciences and is led by Karen Freberg, Ph.D., Associate Professor in Strategic Communications. An industry expert, Freberg has more than five years of experience teaching social media and strategic communications courses at University of Louisville. Portions of this year’s class are based on a textbook she authored titled Social media for strategic communication: Creative strategies and researched based applications. Past students of the course have subsequently secured internships and full-time roles at organizations such as Team USA, General Motors, Cision, Kentucky Derby, YUM! Brands, Adidas and Twitter.

“To have the opportunity to work with Breeders’ Cup is truly a once in a lifetime opportunity to help bridge the gap between education and the industry. Our students are expected to have hands on experience and applied skills as they graduate and enter the workplace, and in a span of four months, our students here at the University of Louisville will be able to work on one of the biggest global horse racing events in the industry,” said Dr. Karen Freberg. “The city of Louisville is known for horse racing, and it is exciting for students to have the chance of not just learning about the key aspects of social media strategy and PR, but to actually implement these ideas through creative executions. I am very grateful to have this partnership between our class at the University of Louisville and The Breeders’ Cup.”

About Breeders’ Cup

The Breeders’ Cup administers the Breeders’ Cup World Championships, Thoroughbred racing’s year-end Championships. The Breeders’ Cup also administers the Breeders’ Cup Challenge qualifying series, which provides automatic starting positions into the Championships races. The 2018 Breeders’ Cup World Championships, consisting of 14 races (13 Grade 1 events) with purses and awards totaling more than $30 million, will be held November 2-3 at Churchill Downs in Louisville, Ky., and will be televised live by the NBC Sports Group. Breeders’ Cup press releases appear on the Breeders’ Cup website, www.breederscup.com. You can also follow the Breeders’ Cup on social media platforms Facebook, Twitter, Instagram and YouTube.

About University of Louisville

Founded in 1798, the University of Louisville is a state-supported research university located in Kentucky’s largest metropolitan area. The university serves more than 22,000 students each year through undergraduate, graduate and professional programs in 12 colleges and schools. The university has been recognized and honored for efforts in research, community engagement initiatives and commitment to diversity. UofL is accredited by the Southern Association of Colleges and Schools Commission on Colleges and is a member of the Atlantic Coast Conference for both academics and athletics. For more information, visit louisville.edu.

Press Release

EquiLottery Rebrands to Include Sports

CEO Brad Cummings

CEO Brad Cummings

EquiLottery, a gaming company best known for its live horse racing lottery game Win Place Show™, is transitioning its corporate identity and evolving its mission to better serve its lottery customers. Rebranded as EquiLottery Games, the company will expand its pioneering vision for live sports lottery games from a single horse racing product to now include baseball, basketball, football, golf, hockey, soccer and stock car racing.

These games are built on the same patented platform as Win Place Show, EquiLottery Games’ flagship product based on the results of live horse racing. Win Place Show will be launched on a trial basis by the Kentucky Lottery in March of 2019.

“We have always been a future-focused company, leading the way on products that combine the excitement of live sports with the lottery draw experience,” said EquiLottery Games CEO Brad Cummings. “Our original vision was to introduce live horse racing to new fans through government lotteries. We have now expanded our offerings to include lottery games based on all live sports. This solves a pain point for lotteries by allowing them to offer a form of sports wagering through their existing statutes and retail channels with low-risk games designed to appeal to their player base.”

EquiLottery Games will now introduce six new games for lotteries to offer their players in addition to Win Place Show. The team sport parlay game allows players to buy lottery tickets based on a slate of ten games from the big five professional sports in the U.S. — baseball, basketball, football, hockey and soccer. Matching the winner of all ten games returns an estimated top prize of $1,000. Car Cash features tickets listing three drivers in a 40-car race and pays out an estimated $50,000 top prize. Golfing for Gold is based on a ticket featuring three golfers and pays an estimated top prize of $2,000,000. All games are quick pick only, meaning the randomization happens at the pick while the draw is a live, authentic sporting event.

All EquiLottery duties will be assumed by EquiLottery Games, including the preparation for and launch of Win Place Show by the Kentucky Lottery beginning March 24, 2019. For more information on these new live sports lottery games, including specifics on how they work, as well as the vision for EquiLottery Games, visit www.EquiLotteryGames.com.

Press release

Placing a winning bet on horse racing

PA Horse Racing – winning bet on horse racing?

“The system is broken, and needs to be fixed,” said Agriculture Secretary Russell Redding at the equine/agricultural site  Country Folks. “This problem has persisted for years. There has been a 71 percent decline in wagers placed on live horse racing in the state [of Pennsylvania] since 2001. This means there has been less revenue for the oversight of the industry.”

To the rescue comes the recently-formed Pennsylvania Horse Racing Association (PHRA) who wants to get Pennsylvanians  back to the tracks, millennials, in particular, who have never been anywhere near a horse, and couldn’t tell a trifecta from a trip or a tag. To that end…

Placing a winning bet on horse racing

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Emerald Downs President states Horse Racing is Alive and Well

Is Horse Racing Dead?  Not in Washington
“Horse racing might be struggling in many locales, but Emerald Downs in Auburn continued to buck that trend in 2018.
There was a healthy increase in the amount of money bet on races at Emerald Downs, which finished its 67 days of racing for 2018 on Sunday. Attendance was essentially the same after slight growth the past few seasons.
“It was a good year,” said Emerald Downs President Phil Ziegler. “I want to thank the horsemen for supporting the races. We had some really exciting races. I think we are all optimistic.”

Emerald Downs horse racing is thriving

The average daily handle (the amount of money wagered) from all sources was $1.107 million, up 14.5 percent from last year. The amount wagered at the racetrack on Emerald Downs races was up 1.5 percent.
Average attendance was 3,741, Ziegler said, with season highs of about 14,000 on July 3, which featured a fireworks show, and more than …”

Source: Emerald Downs president: ‘We are all optimistic’ after a horse-racing season with increase in daily handle

2018 Belmont Stakes Handle Hits This Huge Number

Belmont Park crowd

copyright Agameofskill.com

The blockbuster 2018 Belmont Stakes Day card, which of course was highlighted by Justify’s Triple Crown triumph, generated all-sources handle of $137,954,895, the second-highest one-day handle in NYRA history behind Belmont Stakes Day in 2014.

With attendance of 90,327, on-track handle was $16,159,584.

All-sources handle for the three-day Belmont Stakes Racing Festival was $168,975,295.

All-sources wagering on the 150th Belmont Stakes itself, carded as Race 11 of 13, was $72,702,815 with on-track handle totaling $6,884,907.

In 2015, the previous year with a Triple Crown on the line, all-sources handle on Belmont Stakes Day was $135,790,321.

The one-day record for all-sources handle was $151,109,373 on June 7, 2014, when California Chrome was bidding for the Triple Crown.

2018 Belmont Stakes Racing Festival Handle (ALL SOURCES ON NYRA RACES)

Thursday, June 7: $10,180,697

Friday, June 8: $20,839,703

BELMONT STAKES DAY, June 9: $137,954,895

Belmont Stakes Racing Festival all-sources handle: $168,975,295

Belmont Stakes all-sources handle: $72,702,815

2017 Belmont Stakes Racing Festival handle (ALL SOURCES ON NYRA RACES)

Thursday, June 8: $10,309,890

Friday, June 9: $20,763,470

BELMONT STAKES DAY, June 10: $93,666,837

Belmont Stakes Racing Festival all-sources handle: $124,740,198

Belmont Stakes all-sources handle: $47,163,773

2015 Belmont Stakes Racing Festival handle (ALL SOURCES ON NYRA RACES)

Thursday, June 4: $7,082,133

Friday, June 5: $18,150,169

BELMONT STAKES DAY, June 6: $135,790,321

Belmont Stakes Racing Festival all-sources handle: $161,022,623

Belmont Stakes all-sources handle: $82,437,629

source: NYRA

The Secret World of Horse Racing

jockey riding a horse raceReferred to as the sport of kings, horse racing has been part of British society for more than 400 years. CNBC’s Tom Chitty attempts to shine a light on a sport fueled by money that for many is shrouded in mystery.

The Secret World of Horse Racing [VIDEO]

CNBC Full coverage: The secret world of horse racing