Texas horsemen meet Thursday at Lone Star and Friday at Sam Houston to discuss various plans for race dates in 2011. A couple of plans for consolidation are on the table -- plans, in other words, that call for Sam Houston, Retama Park and Lone Star to pool their resources in an effort to offer some relevant racing.
For a summary of the problem Texas horsemen and racetracks face, just look at Lone Star Park's Thursday and Friday programs. The track will offer 18 races, nine each day. Six of the races are maiden affairs, and in four of those the horses can be claimed for $25,000 or less. In other words, they're not regarded as very good maidens, or at least not especially valuable ones. Of the other 12 races, 11 are claiming events; in six of those, the horses will run for $10,000 or less. And there's one allowance race, for Texas-breds. The racing isn't very attractive.
As Texas purses have fallen, the quality of the racing has declined. And as the quality declines, handle and attendance continue to fall. It's a cycle that must be broken if Texas horse racing is ever to prosper again. Average daily handle has declined 24.7 percent at Lone Star from a year ago. And you probably thought last year was horrible. Even worse, off-track handle -- that is, money bet elsewhere on Lone Star's races -- has declined 28.5 percent. That's important because it suggests Lone Star's racing just isn't competitive in the market place. When bettors have a choice of racetracks, they're not choosing to play Lone Star.
In fact, even bettors at Lone Star aren't choosing to play Lone Star. Of the $837,620 bet at Lone Star on a typical day of racing this year, 64.45 percent has been bet on simulcasts of races at other tracks. Not surprisingly, the shift of handle from the live product to the imports has accelerated as the local quality has declined. Last year, bettors at Lone Star put 62.36 percent of their wagered money on simulcasts, up from 60.48 percent in 2008. Back in 2002, when purses were at their highest and the track handled $90,515,477 during its spring-summer season, there was nearly a balance between the live racing and the simulcasts, with 49 percent bet on the live product and 51 percent on the imported signals. The handle has tilted more dramatically toward the simulcasts ever since. And, of course, this shift has been disastrous for the racetrack since its share of the simulcast handle is less than its share of the live handle.
It all goes back to purses and quality racing. And that's what the horsemen and the track operators need to discuss Thursday and Friday.


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