JC / Railbird

Business of Racing

The International Market

Keeneland auctioneers adapt:

“You try and get rhythm in your chant, but at the same time you understand you’ve got people out there speaking probably 15 or 20 different languages, and most of the time they’re looking at the tote board now instead of listening to you,” he said. “So it’s very important that you are clear and precise in your numbers and everybody understands what the bid is and what the current asking price is.”

Posted in Racing on September 6, 2012 / Tagged Auctioneers, Auctions, Business of Racing, International, Keeneland, Sales, Yearlings

The Disconnect

From Matt Hegarty’s must-read on the state of the racing business:

But continuing to fatten purses is a solution that directly serves horsemen, not bettors. In a macroeconomic sense, it’s hard to argue that the $318 million in subsidies distributed to purses in 2009 made the game better. The U.S. foal crop cratered, the bloodstock market remained in its doldrums, and handle continued to decline at unprecedented rates.

Slots are the subject above, but unleavened takeout increases are similarly flawed. We’re seeing the results of a horsemen-first view in California now.

Posted in Industry on January 28, 2011 / Tagged Business of Racing, California, Economics, Handle, Horseplayers, Purses, Slots, Takeout