JC / Railbird

Industry Archive

The Missing McKinsey Recommendation

Breeders’ Cup president Craig Fravel:

I would love to see the industry create a venture capital fund to nurture new technologies directed at racing and gaming and in so doing utilize the expertise of the many talented people with experience in those areas who own and love horses.

Capital isn’t the only obstacle to innovation in the industry, though. Social gaming bonus points for all involved if unfettered access to Equibase data for the purpose of development were part of any incubator or fund.

Posted in Industry on September 28, 2011 / Tagged #freedata, Breeders' Cup, Good Ideas, Innovation, Technology, Venture Capital

Shuttered

Almost 10 months after NYC OTB closed its doors for good, the New York Times visits the defunct betting parlors, finding most remain empty and unmourned by neighbors. (“Thank God they’re gone,” says one.) There’s a slideshow, unlikely to induce nostalgia (even in me, quoted as an occasional former patron, pro-OTB community), except possibly for retro signage.

Posted in Industry on August 29, 2011 / Tagged New York, New York Times, Not-stalgia, NYC OTB, NYC Real Estate, OTB Parlors

Save Horses! Mug Horseplayers!

Let’s stop this idea in its tracks now:

Violette said there has been discussion about dedicating one-tenth of one percent of New York’s handle to retirement programs, which would need legislative approval. This would generate about $2.2-million per year.

“That way everybody that participates in racing — handicappers, tracks, jockeys, trainers, owners — would be giving something,” he said. “Yes, it means an increase in takeout. But I can’t think of a better reason for a takeout increase than the protection of our race horses.”

Raise takeout? An unfortunate necessity. Mandate that everyone who registers a foal pay $25 toward racehorse retirement? An impossible dream.

I’ve given money to the Thoroughbred Retirement Foundation and other retirement groups in the past; I’ll surely do so in the future, because horses deserve a decent quality of life after the racetrack. But like most horseplayers, I don’t breed horses. I don’t own horses. And until those who do breed and own horses levy a similar burden on themselves to help cover thoroughbred retirement costs through registration, sales, or earnings — all possible sources of funds — then I’m not going to see a takeout increase, for the horses, as anything other than what it is — a politically palatable passing of the buck.

3/25/11 Note: There’s an excellent conversation going on in the comments about takeout and funding racehorse retirement, to which Violette thoughtfully replied this afternoon. “I will go even further; let’s not raise the takeout and take the same .001 from the existing levels,” he writes. “NO INCREASE. A solution must be found, this is for the greater good.”

Posted in Industry on March 24, 2011 / Tagged Hell No, Horseplayers, New York, Retirement, Shirkers, Takeout, TRF

The Invisible Industry

Several weeks ago, in a post called “The Invisible Sport,” Jennifer Wirth of the Saturday Post inspired a campaign to increase mainstream media coverage of horse racing. A worthy goal, but as the reaction to Joe Drape’s New York Times story on the the Thoroughbred Retirement Foundation shows, it’s the whole industry that’s largely invisible, not just the sport.

Outside of Kentucky and New York, there aren’t many non-trade publications covering the larger stories of racing business and politics, and outside of the New York Times, almost none doing investigative work.

Vic Zast runs down the reasons for the lack of horse racing coverage in his HRI column today. All are familiar (fewer reporters, reduced resources, turf writers “captured” by sources), but that doesn’t make the problem any less an issue.

Wirth argues that racing won’t last if people aren’t exposed to the game and its stars through news stories; it also won’t last without press oversight, exposing serious issues and compelling change. Whatever the debatable flaws in Drape’s work, his reporting is necessary, and racing needs more of it.

3:15 PM Addendum: Writing on the Atlantic, Andrew Cohen reacts to the TRF story. “No matter who is at fault, no matter what happens to the TRF from here, please, someone, take care of those poor damned horses.” It seems like there should be a mechanism, some simple way to gather small sums for retirement funds — something like the Jockey Club check-off program, made mandatory. An an opt-in program, it isn’t attracting much support.

Posted in Industry on March 21, 2011 / Tagged Check-Off Program, Jockey Club, Media, New York Times, Retirement, TRF