Don't Bet on It

Kentucky.com is reporting what we already knew: that 2009 was a very bad year for thoroughbred racing. At least in terms of what the industry considers to be its most significant marker: wagering.

In 2009, wagering on thoroughbred races fell almost 10%. In the United States, betting on races fell $1.3 billion. All of this means that wagering in 2009 was at its lowest level since 1996.

Surprised? Probably not. In case you are living in a cave, the economy took a drastic hit this past year, and betting on horses seems to be a non-necessary expense. As in, if you are cutting back what would be the logical choice: food or betting money? And that is just what Alex Waldrop is saying, "The overall economy was our big problem in 2009."

OK, I'll give you that. But maybe its time to look at something other than, gasp, money. With dream horses like Rachel Alexandra and Zenyatta attracting fans by the hundreds, perhaps the industry should look at what it did well, rather than focus on what it did poorly. In my opinion, what it did well was manage to generate interest, albeit fairly local and limited to the sports pages, for two incredible equine athletes. It was the year of the superstar woman and Rachel even appeared in Vogue!

They also managed to stage a safe and exciting Kentucky Derby (although in reality that outcome is out of the hands of mere mortals) and a great story line of the little horse that could, Mine that Bird. In fact, it was the year of the birds and if they had been smart, they would have promoted it that way.

Chirs Scherf, executive director of the TRA, had a better take on the situation: "In a year when racing was blessed with brilliant racing, featuring a storybook Kentucky Derby and Rachel Alexandra and Zenyatta, it is clear that the sport can still stir great public emotion. The 2009 handle figures, however, starkly illustrates a worrisome decline in the parimutuel wagering product, at least as currently constituted on a national basis."

Could it be that people genuinely love to watch good horses run and that they don't necessarily have to bet on them to get this enjoyment? What a concept.

Maybe they better start figuring out a way to make money from a genuine spectator sport. Trust me, its been done.