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Too many tracks, fewer bets plague U.S. horse racing | Reuters

made up a small portion of the $115 billion globally wagered on horse races in 2008.

“This has worked incredibly well,” said Robert Kulina, the track’s vice president and general manager. The U.S. As a result, purses awarded to horse owners have ballooned to $1 million a day from $380,000 last year.

Evidence of the tough times is mounting, as large track owner Magna Entertainment filed for bankruptcy protection last year and another large operator, the New York Racing Association, warned of a shutdown earlier this year.

ENDANGERED TRACKS

DETROIT With fewer fans wagering less money at too many racetracks, U.S. The recession has exacerbated things. It’s really all about … The handle, or amount wagered on U.S. If gambling ramps up online to allow bets on cell phones and other personal devices, the potential is huge, especially overseas, said Alex Waldrop, CEO of the National Thoroughbred Racing Association. Magna’s assets were purchased by MI Developments Inc MIMa.TO and NYRA, which operates New York tracks at Belmont, Saratoga and Aqueduct, got a $25 million loan from the state, which is moving to approve slot machines for the tracks.

(Reporting by Ben Klayman. It has dominated public attention with horses like Man o’ War, Sea Biscuit and Secretariat, and movies and stories like “National Velvet” and “The Black Stallion” reflected that. thoroughbred races, slid 19 percent to $12.3 billion in 2009 from 2003, and is off another 7 percent through July.

Many believe that in the future, large tracks with the biggest purses and best horses will host races only on weekends, while smaller tracks supply races to televise at other facilities and drive gambling the rest of the time.

The Internet offers further hope. Still, at other times its popularity has faded.

“Not even the New York Yankees play in Yankee Stadium 100 straight days,” said Nick Nicholson, CEO of Keeneland, the largest seller of thoroughbred horses in the world and operator of a track that races only 32 days a year.

Add in weaker attendance, a lower number of horses being bred for the sport and a 32-percent drop last year to $660 million in the value of North American thoroughbred auction purchases, and worries abound.

Monmouth Park in Oceanport, New Jersey, halved its racing days this year to 71, but attendance is up 12 percent and wagers have risen 38 percent at the track and more than doubled off track. Some even downplay the races to get people in the door in the hopes they will gamble later.

“The playing field has completely changed for the industry,” said Ray Paulick, who has covered horse racing for more than three decades and publishes the Paulick Report. “There are still large, new markets that we can access.”

Some executives see things bottoming out. “It’s not as if one group has any magic bullets here,” said Bennett Liebman, executive director of the Government Law Center at Albany Law School and a member of NYRA’s board.

“I’d probably bet the future is more likely down for the next few years than up,” said Robert Evans, chief executive of Churchill Downs Inc (CHDN.O), which owns the track where the famed Kentucky Derby is run.

“You really don’t see horses in our ads at all anymore. thoroughbred horse racing is galloping toward a reckoning.

“Running a racetrack is now a negative gross business,” NYRA President Charlie Hayward said.

Another concern is racing’s aging fans. Editing by Robert MacMillan)

The share of Del Mar’s female visitors has jumped 5 points to 40 percent in the last five years, while those under the age of 35 now make up almost half of the total, he said.

Not even the advent of racinos — tracks that include slot machines or other casino gambling — have stemmed the decline.

Recognized as the sport of kings, horse racing has a long and checkered history in the United States. coming to the races is a social scene,” said Craig Dado, a senior vice president with Del Mar, a racetrack outside San Diego founded by crooner Bing Crosby in the late 1930s.

“Horse racing is still very popular around the world,” he said. “There’s too many tracks, too many race dates and not enough consumers who are interested in the product.”

Many industry executives say subsidies like slots or government support are a must and that more bankruptcies or closures are likely among the country’s 100 or so tracks.

It has struggled in the United States in recent years as casinos proliferated. Some worry about finding new ones to replace a majority base of men over the age of 50 who make up the industry’s heaviest bettors.

Tracks are pushing hard to lure younger crowds, turning to music and food festivals as draws. “Less is more.”

However, most agree the industry needs to be leaner, and some tracks are already moving that way.

The industry must address a fall-off in attendance, betting totals and horse auction values if it wants to retain its position in the public’s sporting consciousness, executives and analysts said.

Kentucky Derby 2016: Hats, horses, odds (and odd names)

Who has the best odds?

The overwhelming favorite to win the race is a horse named Nyquist, a 3-year-old colt from Kentucky. The Jockey Club has tight regulations on what kind of names can be used. Pour over ice, and enjoy the good life. As of mid-afternoon Saturday, his odds to win the Derby stood at 2-1. ET. Plus, once a name is used, it can’t be used again for a long time, if ever. Which one has the most excellent name?

We’d have to recommend Suddenbreakingnews, for obvious reasons. More than that, wearing an fabulous, obnoxious hat is thought to bring good luck (at least, to you and whatever horse you have the most money on).

There are 22 horses running in the Kentucky Derby, each with a name more excellent than the last. After hundreds of years and thousands upon thousands of horses, it’s no wonder you have to get a little creative. Post time (the start of the race) is at 6:34 p.m. There’s an official Derby recipe, but if you don’t care for exactitude just mix yourself up some sugar, bourbon, water, and crushed mint. Here’s everything you need to know to get that solid Derby experience. Nyquist Sr. Nyquist (the horse) was purchased by a die-hard Detroit Red Wings fan and named after Gustav Nyquist (the Swedish hockey player).

The 142nd running of the Kentucky Derby is this Saturday, May 7.

Well, Kentucky! Specifically, Churchill Downs in Louisville. For instance, names can only be 18 characters (including spaces), they can’t have certain artistic or cultural implications and they can’t be named after real people unless the namer gets permission.

Is Nyquist by chance named after an active NHL player?

He totally is. perform.

How many horses are running?

The whole shebang will be aired on NBC, with coverage starting at 4 p.m. There’s Mor Spirit and Mo Tom, Danzing Candy and Cherry Wine, Creator and Exaggerator; it’s really a colorful field.

How can I watch it?

Even if you’re nowhere near Kentucky and you know nothing about horse racing, you may still be thinking of tuning in (or even dressing up a little).

Why do ladies wear fancy, view-obstructing hats?

It’s a Southern thing. ET.. is excited to see Nyquist Jr.

I know nothing about horse racing but still want to waste some money by randomly betting on a horse. You usually have to wait several horse generations to reuse a name, and names that belonged to big winners or Hall of Famers can never be used again at all. American Pharoah won 2015′s Kentucky Derby, Preakness Stakes and Belmont Stakes, making him the first Triple Crown winner in 37 years.

Why do I keep hearing about mint juleps and how can I acquire one as soon as possible?

Mint juleps are the traditional drink served at Churchill Downs during the Derby, and they are delicious.

Why do they have such weird names, anyway?

Horse naming is a serious business.

Who won last year?

THAT would be Triple Crown winner and all-around good horse American Pharoah

Kentucky Derby 2016: Hats, horses, odds (and odd names)

There are 22 horses running in the Kentucky Derby, each with a name more excellent than the last. Nyquist (the horse) was purchased by a die-hard Detroit Red Wings fan and named after Gustav Nyquist (the Swedish hockey player). More than that, wearing an fabulous, obnoxious hat is thought to bring good luck (at least, to you and whatever horse you have the most money on). Plus, once a name is used, it can’t be used again for a long time, if ever. You usually have to wait several horse generations to reuse a name, and names that belonged to big winners or Hall of Famers can never be used again at all.

Who won last year?

THAT would be Triple Crown winner and all-around good horse American Pharoah. There’s Mor Spirit and Mo Tom, Danzing Candy and Cherry Wine, Creator and Exaggerator; it’s really a colorful field. is excited to see Nyquist Jr. The Jockey Club has tight regulations on what kind of names can be used.

I know nothing about horse racing but still want to waste some money by randomly betting on a horse.

Why do ladies wear fancy, view-obstructing hats?

It’s a Southern thing. Which one has the most excellent name?

We’d have to recommend Suddenbreakingnews, for obvious reasons. After hundreds of years and thousands upon thousands of horses, it’s no wonder you have to get a little creative.

How many horses are running?

Who has the best odds?

The overwhelming favorite to win the race is a horse named Nyquist, a 3-year-old colt from Kentucky. For instance, names can only be 18 characters (including spaces), they can’t have certain artistic or cultural implications and they can’t be named after real people unless the namer gets permission. ET.

Is Nyquist by chance named after an active NHL player?

He totally is. Pour over ice, and enjoy the good life. As of mid-afternoon Saturday, his odds to win the Derby stood at 2-1. ET.

Even if you’re nowhere near Kentucky and you know nothing about horse racing, you may still be thinking of tuning in (or even dressing up a little). Here’s everything you need to know to get that solid Derby experience. . The whole shebang will be aired on NBC, with coverage starting at 4 p.m. Nyquist Sr. There’s an official Derby recipe, but if you don’t care for exactitude just mix yourself up some sugar, bourbon, water, and crushed mint. American Pharoah won 2015′s Kentucky Derby, Preakness Stakes and Belmont Stakes, making him the first Triple Crown winner in 37 years.

Why do I keep hearing about mint juleps and how can I acquire one as soon as possible?

Mint juleps are the traditional drink served at Churchill Downs during the Derby, and they are delicious.

How can I watch it?

The 142nd running of the Kentucky Derby is this Saturday, May 7.

Well, Kentucky! Specifically, Churchill Downs in Louisville. Post time (the start of the race) is at 6:34 p.m.

Why do they have such weird names, anyway?

Horse naming is a serious business. perform

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