Top Owner Wants Changes Made in the Racing Industry

September 19, 2012 by Leave a Comment

Leading Thoroughbred owner Mike Repole thinks the industry needs an overhaul, and who’s to argue with him. The industry needs to make major changes, and it really requires the help of smart guys like the Vitamin Water founder, Repole, to help come up with and implement those changes.

“We’re the only real sport without a governing body. I’d love to tell somebody all my issues with our sport, but I don’t even know who to go to,” Repole said.

“I just know the old guard is running the sport, and the old guard doesn’t want to change. It’s almost like we’re football players still wearing leather helmets.”

Read the whole story with Repole that was featured in The Business Review.

Filed Under: Horse Racing Promotion | Marketing, Horse Racing Survival, Industry Profiles Tagged With: , , , , , , ,

Does Horse Racing Know Its Audience?

August 23, 2012 by Leave a Comment

Gary West writes for ESPN:

Horse Racing Fans at the Saratoga Clubhouse Rail

Fans at the Saratoga Clubhouse Rail

“Twice a week, Amelia and Juan Rojas journey 40 miles from Waxahachie, Texas, to Lone Star Park at Grand Prairie. At the racetrack’s renovated simulcast facility known as the Bar & Book, they typically spend the entire day. Seated comfortably at their carrels, they watch the action on individualized television monitors and bet on races from New York to California. This time of year, they follow the sport from Saratoga to Del Mar, with simulcast excursions to various racing locales in between.

Some racetracks lavish thousands of dollars on popular musical performers that can be magnets for youngsters who, in some cases, aren’t old enough to bet. They might not seem very unlike many of the sport’s most devoted fans, except for one thing. She’s 102, and he’s 101.”   Read the rest of the story

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Racetrack Management: Take Care of Your Fans

September 14, 2011 by Leave a Comment

Who is your team?

Excerpt: “While pondering this, I couldn’t help but think of the difficulty horse racing has faced while trying to maintain and expand its fan base. As an industry, horse racing has been aware for some time that in order to survive it must do this, but that is far easier said than done.

The tricky thing with horse racing is there are no teams to cheer for. Loyalty to a runner rarely can last more than a few years, simply because said horse will be retired. People have favorite trainers and jockeys, but the star of the game has always been the horse.

It’s not like an NFL team that a family will follow for generations, through thick and thin. For instance, my family’s team is the Denver Broncos. While John Elway will always be beloved, our loyalty to the Broncos did not change when he retired. I guarantee that some of the fans Zenyatta picked up along the way retired from racing when she did.

Another unique aspect of the game is the gambling. Getting people in the door simply isn’t enough. The success of a race meet is not only judged by attendance but by handle.

For instance, Lone Star Park ended its spring thoroughbred meeting with a 10 percent increase in average daily attendance, which was the largest average daily attendance increase in the track’s history. But, overall handle was down and that had to be addressed. While pondering this, I couldn’t help but think of the difficulty horse racing has faced while trying to maintain and expand its fan base. As an industry, horse racing has been aware for some time that in order to survive it must do this, but that is far easier said than done.”

 

[READ THE ESPN PIECE] and share your thoughts here on AGameofSkill.com

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Pinnacle Race Course closed with little notice outside Michigan

August 24, 2011 by Leave a Comment

From this newpaper article: “There was absolutely no reason for county officials to believe a new track could sustain itself, let alone become an economic engine. Wayne County would have been better off trying to recruit Amalgamated Spats or the Baltimore Opera Hat Company to western Wayne County for all that it mattered. The reason for this assertion is simple: Horse racing is a dying business.

June 15, 2007, Stockton Record reported: Whatever they expect, it flies in the face of national trends. American horse racing attendance is steadily declining.

Business Week reports on-track gambling fell from $2.9 billion in 1996 to $1.7 billion in 2006 – a 40 percent plunge.”

Read this full story here

Now granted, Detroit is not a thriving area due to extremely high unemployment, but it remains a major city in this country. A brand new track with a beautiful facility should have had a chance of making it.

What is worse is that this new track was so poorly supported within the industry itself, that when it closed, hardly anyone even noticed.

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Breeders’ Cup to Partner with Poker Pro | Poker Industry Upset

August 8, 2011 by Leave a Comment
Poker Pro Vanessa Russo

Poker Pro Vanessa Russo

I couldn’t find anything about this on the NTRA or Breeders’ Cup websites, but the Thoroughbred Times is reporting that the Breeders’ Cup has established a sponsorship with poker superstar Michael “The Grinder” Mizrachi, who is the youngest player on poker’s top 10 career money list with more than $11-million in career tournament earnings. Last year, “The Grinder” made the final table of the World Series of Poker Main Event, finishing fifth to pocket over $2.3-million.

Breeders’ Cup believes the partnership will help introduce wagering and liquidity of the two-day Breeders’ Cup World Championships to the poker world.

“We believe that there is a strong cross-over between poker and horse racing, which has not yet been realized”, said Peter Rotondo, vice president of media and entertainment for Breeders’ Cup.

I commend the Breeders’ Cup and Rotondo for trying this approach. It may not work as well as they hope since the crossover between poker players and handicappers is surprisingly low. I know this from having conducted surveys during my time at Brisnet.com.  Regardless, it is a worthwhile attempt by the industry.

Follow-up: A poker site just came out bashing The Grinder for his alignment with the racing industry. Read about the pushback here.

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