Is Horse Racing Dead? Tampa Bay Downs Reports Huge Day

Tampa Paddock

Up close and personal at the Tampa Bay Downs paddock

Press Release

When you put more money up for grabs than ever before in track history, it’s logical to expect top-quality racing.

Lambholm South Tampa Bay Derby winner Tapwrit and the other four stakes winners more than delivered.

The Festival Day card on March 11, 2017 produced a track record and three stakes records (four if you count the Columbia Stakes, which was being run at a distance of a mile on the turf for the first time).

A crowd of 10,079 more than did its part to make the day memorable, contributing to total wagering handle of $12,123,021.60, the second-largest figure in Tampa Bay Downs annals.

“We’re extremely pleased and proud to see our biggest day receive such tremendous support from the Tampa Bay community,” said track Vice President-General Manager Peter Berube. “We wish all the participants the best of fortune going forward, and naturally we’re hopeful Tapwrit will move on to compete in the Kentucky Derby (Presented by Yum! Brands).”

The striking gray colt Tapwrit was the unquestioned standout of the afternoon, launching a powerful move approaching the far turn and going on to a four-and-a-half length victory from State of Honor in the Grade II, $350,000 Lambholm South Tampa Bay Derby. His time of 1:42.36 for the mile-and-a-sixteenth is a new stakes record, and would have been a track record had not his stablemate, 5-year-old Stanford, won the $100,000 Challenger at the same distance three races earlier.

Both horses are trained by Todd Pletcher, who won his third consecutive Lambholm South Tampa Bay Derby, fourth in five years and fifth overall.

Also setting a course record was the 3-year-old filly Fifty Five, who won the Grade III, $200,000 Florida Oaks for 3-year-old fillies on the turf in 1:41.60 for the mile-and-a-sixteenth.

Horse Racing Side Wagers with Your Crab Fries?

Chickie’s & Pete’s in Jersey May Offer Off-Track Betting

EGG HARBOR TWP. — If a proposal before the New Jersey Racing Commission is approved, you may be able to get a side bet on a horse race with your crab fries at Chickie’s & Pete’s in Atlantic County. The commission will consider a proposal later this month to establish an off-track betting facility at the… [Read more…]

Horse Racing Club Investment Pays Off for Newbie

horse racing blinkers“The education, through seminars, speaking engagements and financials, has been more than expected and I can honestly say this is the beginning of a new journey for me in horse racing ownership and management,” said Stephens, who is also considering enrolling in the University of Louisville’s Equine Industry Program.

LITTLE ROCK — A passenger in a New Orleans-bound vehicle, the commercial airline pilot battled sporadic cell coverage in South Arkansas to sign up for the Churchill Downs Racing Club.

Source: King: Horse racing club investment pays dividends

Larger Fields could hold Key to Future Horse Racing Success

Players Want Larger Horse Fields

LA Daily News – Los Alamitos Race Course just completed a short winter meet that, according to track officials, was a successful eight days of racing with notable increases in all-sources handle and field size.

Source: Larger fields could hold key to future horse racing success

Is Horse Racing Dead? Maryland Jockey Club Reports Spike in 2016 Handle

The Maryland Jockey Club continued growing its Thoroughbred product and handle in 2016, announcing last month that total handle was up 19.7% from 2015 and in-state wagering was up 18.4%…

Source: Maryland Jockey Club Reports Spike in 2016 Handle

Is Horse Racing Dead? Gulfstream Park Reported Strong 2016

Gulfstream Park paddock Gulfstream Park announced a record $1.774 billion was wagered via Gulfstream Park in 2016, a 9-percent increase over the previous record of $1.625 billion in 2015.

Gulfstream also announced a record $1.508 billion was wagered on its live races in 2016, a 13-percent increase from the previous record of $1.338 billion in 2015.

Gulfstream’s record handle was produced in part by signature racing events like the Florida Derby, Fountain of Youth, Opening Day Claiming Crown, Sire Stakes, Sunshine Millions and Holy Bull. Gulfstream also continued hosting signature events, including the prestigious Eclipse Awards.

“Our record handle in 2016 shows us we’re on the right path in growing our Championship Meet and reinvigorating summer racing in Florida,” said P.J. Campo, General Manager of Gulfstream Park and Vice President of Racing for The Stronach Group, Gulfstream’s parent company. “We continue to see the top horses and stables race each winter at Gulfstream, but we’re also witnessing more interest in our summer program now that it has become established and producing quality racing and young stars.

“We believe we will continue to grow in 2017. We have an incredible year ahead of us. We’re looking forward to once again hosting the Eclipse Awards on Jan. 21, watching classic contenders begin to develop in the Holy Bull, Fountain of Youth and Florida Derby, and playing host to the richest horse race in the world – the $12 million Pegasus World Cup Invitational – featuring California Chrome and Arrogate on Jan. 28.

“Our success is only possible because of our great equine athletes, jockeys, horsemen supporting our program from throughout the world, and the fans, who continue to offer great suggestions to help us grow our customer service.

Proposed Changes to IRS Horse Racing Withholding would be Huge Win

Proposed changes to horse racing withholding would be huge win for players.

“With horseracing’s all-important Triple Crown season fast approaching, the NTRA urges Treasury and the Service to adopt the proposed regulations as final regulations as soon as it is administratively feasible.

Source: Proposed changes to horse racing withholding would be huge win

Easy Way for Bettors to Contact the United States Treasury Department

The National Thoroughbred Racing Association (NTRA) has announced that a system has been established at https://www.ntra.com/comment for individuals to submit an e-mail comment directly to the United States Treasury Department in support of newly proposed regulations related to withholding and reporting of pari-mutuel winnings.

Washington DC The proposed regulations, which would replace outdated regulations adopted nearly 40 years ago, more accurately reflect today’s pari-mutuel wagering environment and will positively impact a significant percentage of winning wagers, particularly those involving multi-horse or multi-race exotic wagers. It is believed that the proposed changes will result in tens of millions of dollars in additional pari-mutuel wagering annually. If adopted, the new regulations will not only  promote greater compliance and more accurate reporting and withholding by taxpayers but also reduce burdensome and needless paperwork system-wide.

Efforts spearheaded by the NTRA on behalf of the industry over the past two and a half years came to fruition on December 30 when Treasury and the Internal Revenue Service (IRS) published proposed guidelines designed to modernize withholding and reporting regulations. The 31-page Treasury document, “Withholding on Payments of Certain Gambling Winnings,” clarifies the phrase “the amount of the wager” to include the entire amount wagered into a specific pari-mutuel pool by an individual–not just the winning base unit as is the case today.

In the NTRA’s official response to Treasury on behalf of the industry, submitted Wednesday, NTRA President and CEO Alex Waldrop thanked the Treasury and IRS for recognizing the need to modernize regulations related to the withholding and reporting of pari-mutuel winnings and noted that the newly proposed regulations sufficiently address the industry’s concerns. Waldrop asked the Treasury and IRS to enact the new regulations as quickly as possible following a 90-day comment period that concludes on March 30.

This will positively impact a significant percentage of winning wagers, particularly those involving multi-horse or multi-race exotic wagers.

“With horseracing’s all-important Triple Crown season fast approaching, the NTRA urges Treasury and the Service to adopt the proposed regulations as final regulations as soon as it is administratively feasible. Horseplayers, tracks and other industry stakeholders, including governments, are eager to begin reaping the benefits that will result from these updated withholding and reporting rules,” Waldrop said.

The public comment system at NTRA.com/comment provides each person with a clear, consistent message asking the Treasury to adopt the proposed regulations and urging prompt action.

“A unified message of support is critical as the industry urges Treasury and the IRS to finalize the proposed regulations,” Waldrop added. “We ask all who participate in the horse racing industry to submit a comment to Treasury and the IRS using the NTRA system so that we can send the message loud and clear that all of horse racing supports these changes.”

Japan’s $22.5 Billion Passion for Horse Racing

CNN International Japan’s $22.5 billion passion for horse racing.  This year has been the first time that the Japanese have been able to wager on foreign races, and they’ve certainly leaped at the opportunity.  In fact,  on the Arc they wagered more than the people of France!

CNN International: “This is one reason why horse racing is so popular here … The Japanese are very much enjoying placing their money on foreign races.” The profit created by betting is reinvested into racing prize funds by the Japan Racing Association (JRA), meaning … and more »  READ THE FULL ARTICLE BELOW:

Source: Japan’s $22.5 billion passion for horse racing

IRS Proposes Major, Positive Changes for Horseplayers

Special thanks to my friends and fellow horseplayers Judy Wagner and Chris Larmey , who were very instrumental in getting this done.  Judy and Chris traveled to Washington D. C. this past year to meet with U.S. Treasury officials to discuss the problems with the current pari-mutuel tax system and propose solutions for all of us players.  ~ Rich Nilsen

DEPARTMENT OF TREASURY AND IRS ISSUE PROPOSED REGS TO MODERNIZE PARI-MUTUEL WITHHOLDING AND REPORTING

Lexington, Ky. (December 29, 2016) – The Department of Treasury and Internal Revenue Service (IRS) today issued newly proposed regulations relating to withholding and reporting with respect to pari-mutuel winnings. The 31-page Treasury document, entitled“Withholding on Payments of Certain Gambling Winnings,” accomplishes the goals started and spearheaded by the NTRA more than two years ago. The effort to this point has included meetings between the NTRA and Treasury and IRS officials, visits to Washington by horseplayers, grass roots campaigns and direct contact involving thousands of industry stake holders, including bettors, as well as involvement by numerous Members of Congress, Governors and other elected officials.

Chris Larmey

The proposed regulations clarify ‘the amount of the wager’ to include the entire amount wagered into a specific pari-mutuel pool by an individual—not just the winning base unit as is the case today—so long as all wagers made into a specific pool by an individual are made on a single totalizator ticket if the wager is placed onsite. The proposed regulations would have the same positive results for Advance Deposit Wagering (ADW) customers and would not impact how those wagers are currently made.

The proposed regulations will positively impact a significant percentage of winning wagers, particularly those involving multi-horse or multi-race exotic wagers, and result in tens of millions of dollars in additional pari-mutuel churn.

The proposed regulations will undergo a 90-day comment period and it is conceivable that they could be in place prior to the 2017 Triple Crown. As was the case during a similar comment period in 2015 that attracted nearly 12,000 comments, the NTRA next week will establish a convenient and simple method for industry stakeholders to encourage enactment of the proposed regulations.

In its 31-page rulemaking document, the Treasury and IRS cited numerous specific examples provided by the NTRA as reasons for the need to modernize and also referred to the many comments it received from individuals in support of the proposed changes.

“This is a tremendous step forward in our ongoing efforts to modernize pari-mutuel regulations to accurately reflect today’s wagering environment,” NTRA President and CEO Alex Waldrop said. “The NTRA remains thankful to everyone who has engaged in this process, including numerous industry stake holders, horseplayers, Members of Congress, Governors and other elected officials, especially Congressmen John Yarmuth (D-KY) and Charles Boustany (R-LA), who led the congressional effort. A unified message has gotten us to this point and we encourage everyone to continue to work through the channels we will be establishing as we seek to push these proposed regulations across the goal line.”

The complete Treasury and IRS rulemaking document is posted on NTRA.com and can be accessed here.