9 Step Plan to Grow Horse Racing

McKinsey & Company was commissioned to look at what the horse racing industry needs to turn things around. The result was a report titled “Driving Sustainable Growth for Thoroughbred Racing and Breeding”  which was released at the annual Round Table Conference at Saratoga Race Course in August.  The consulting company reported that  if changes aren’t made soon, by 2020 pari-mutuel handle will decline by 25%, owners’ losses will jump 50%, and only 25% fewer racetracks will be viable.

 

The Jockey Club – not the NTRA – is going to put five years of funding, which amounts to millions of industry dollars, ito this important project.

Some of the ideas include:
  • fewer but higher quality race days
  • innovative wagering platforms
  • integrated rewards systems
  • improved television coverage for racing
  • free-to-play online games to educate the public
Many, if not most, of these items have been discussed publicly before but little to no action has taken place. What else is new? It is good to see that a concrete plan is soon to be implemented. However one has to question the amount of funding that might be funneled into this project.

Read more: Full details from The Blood-Horse

Ray Paulick’s commentary on this “Common Sense” plan