Unraveling the Challenges and Opportunities in Horse Racing

Economic Challenges Faced by Trainers

Tina Bond, with her roots deeply embedded in the sport, emphasizes the tough economic climate. She states that it costs nearly $80,000 a year to keep a horse in New York, which poses a significant burden, especially for smaller trainers. The rising costs of everything from hay to workers' compensation have made it harder for them to sustain their operations. As she puts it, "It's a numbers game," highlighting the need for owners with the financial capacity to support these costs.

Moreover, Bond points out the disproportionate financial costs of HISA on the smaller trainers. While it is a federally mandated program, it is not federally funded, affecting the purses available. This has a significant impact on the racing ecosystem and the venues where middle to lower-grade horses compete.

Impact of Consolidation on Trainers

Consolidation among the top trainers is another issue that Bond addresses. Wayne Lukas, although a pioneer in this style of operating, is not criticized by Bond. She notes that having 40 horses at a track is different from having 200. The current setup makes it harder for smaller trainers as they don't have the same opportunities as the super trainers who dominate the purse money. This economic disparity creates challenges for the smaller operators in the industry.

Bond also suggests that stall limits could help increase field size and handle. However, for this system to work effectively, it needs to be strictly enforced nationwide at all tracks and training centers.

Innovations for Revenue Generation

Looking ahead, Bond sees various innovations and opportunities for the sport to raise revenues. One idea is allowing owners to display advertisements on their silks, while corporate sponsorship of races is another potential source. Bond emphasizes the need for a good portion of these revenues to go back to the purses to stimulate the economy of the game.

She believes that by finding new revenue streams, it will be possible to provide more economic stimulation and allow owners to continue investing in the sport. As she says, "We've got to figure a revenue stream that goes back to the owners, so that they can continue with us going forward."