The theory that horse racing will never get its act together on a national scale because the industry players are too busy looking out for their own bottom lines (or existence in some cases) has proven true time and again.
But a piece of news from New Jersey, where Monmouth Park will focus on quality instead of quantity in a shortened 50-day 2010 meeting, has snapped me out of my blogging funk.
Under the plan approved by the New Jersey Thoroughbred Horsemen’s Association yesterday, Monmouth will race Fridays, Saturdays, and Sundays (plus a few selected holiday Mondays) from May 22 until Sept. 11. If projections of $50-million in purse money spread over 50 dates hold true, Monmouth will have the highest purse structure in America.
The horsemen, who in many states have pushed for year-round racing that has diluted the sport to the point of oblivion, should be commended for going in a different direction.
I believe the future of horse racing in America is less dates, higher quality racing, bigger fields, and lower takeout – all in a beautiful, fan-friendly atmosphere that celebrates racing as a special event.
Despite the horrendous rain-soaked conditions Monmouth experienced when it hosted the 2007 Breeders’ Cup, I came away from my first and only visit to the Oceanport track with a favorable impression.
It’s a charming property with a loyal local fan base. And although its trifecta takeout of 25% is too high, 17% on WPS wagers and 15% on the pick 4 makes Monmouth one of the good guys in terms of giving gamblers a fighting chance to make a profit (and a reason to feed the pari-mutuel pools that fuel the sport’s purse structure).
What is good for gamblers is good for the sport.
Hopefully the same will be said about the new vision for New Jersey racing.
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4 comments:
Yes the trifecta takeout is too high. But other wagering pools give the horse racing customer a fighting chance at the current levels.
This proposal should have been a two year experiment. As it stands it's a shot shot deal.
Come September when the 'encore' meet begins and the purses return to normal levels, reality will set in. What happens in 2011?
Back to the drawing board perhaps.
I'm not sure the horsemen are going to be as fortunate as they will be with this agreement-in-principle from the state and the casinos.
If racetracks wants instant gravitation to your wagering product, try cutting your win-place-show pools to a 10% takeout rate and all exotics to 12% for an extended 5 year period.
It's the only long-term solution that will get the horse racing bettors financially healthy and keep them interested.
New Jersey's announced purse structure will probably have a negative effect on the quality of Belmont's spring/summer meet. How successful they are remains to be seen. In a head to head match up with Saratoga, I will just sit back and observe, for that will be a very interesting match race.
I wish New Jersey well. I hope their attempt to tweak the racing schedule works. Maybe they will evoke some action by the politicians across the river, (New York), to improve racing in their state instead of constantly blaming NYRA for the problems of their own inaction and greed.
I would love to see New Jersey make a positive move on Atlantic City Race Track. So much past New Jersey History, and future potential, wasted by a current corporation owner who cares not for New Jersey, and cares even less for horse racing. The current state of this track is not only New Jersey's loss, it is a national loss to all in the thoroughbred industry.
But march on New Jersey, be well, at least you are trying to do something. That is a lot more then others are doing in their states.
I think it's exactly what they need.
Weekdays at Monmouth are no better than Philadephia Park racing at this point (and attendance isn't strong, either) and consolidating into weekends, where they have a much stronger presence both locally and nationally, makes them a real player.
Forget the claiming races, run it like an extended Keeneland meet, essentially.
NYRA is already circling the wagons, with Hal Handel and P J Campo threatening trainers that, if they run a horse at Monmouth, it won't be allowed back to its stall at NYRA. Way to go guys, that's a great example of cooperation and coordination.
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