Insights into the Thriving World of Horse Racing
Study Committee
Preservation of the HOPE
Scholarship Program
A
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President & CEO
National Thoroughbred Racing Association
2
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Membership includes:
•
Racetracks
•
Owners
•
Breeders
•
Trainers
•
Horseplayers
•
Affiliated horse racing and breeding associations
3
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Highly entertaining, social activity
•
Labor intensive agri-business
•
Passionate fan base – everybody loves horses
•
Challenging intellectually
•
Prestigious ownership opportunities
•
Environmentally friendly
•
Beneficial federal legislation - IHA
4
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–
Keeneland
–
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8
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–
Best horses, trainers, and owners from
across the globe
–
Culmination of Thoroughbred racing’s
season
–
Often decides Horse of the Year and other
prestigious Eclipse Award categories
9
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Breeders’ Cup 2013 Economic Impact
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Source: Tourism Economics study of 2013
Santa Anita, CA event
10
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•
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•
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•
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•
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11
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12
Economic Impact of
Georgia Equine Industry
•
≈173K
≈173K
Georgia households own horses
•
Contributes
$868.7MM
$868.7MM
to Georgia Economy
•
6th
6th
most valuable commodity in Georgia
•
All horses valued at
$413MM
$413MM
•
Roughly
3.5%
3.5%
of all Georgia commodities.
•
Source: GA Agricultural Commodity
Commission for Equine (2008)
13
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•
Georgia breeders and owners now raise their horses in
Florida, South Carolina or Kentucky
•
Georgia racing fans are visiting racetracks in Kentucky,
Florida, Louisiana and elsewhere
•
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14
15
Explore the ecosystem of horse racing, covering the preservation of the HOPE Scholarship Program, the role of the National Thoroughbred Racing Association, advantages of horse racing, U.S. horse racing metrics, characteristics of horseplayers, global presence of horse racing, and highlights of big events such as the Triple Crown and Breeders Cup World Championships.
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Presentation Transcript
Study Committee Preservation of the HOPE Scholarship Program
Alexander M. Waldrop President & CEO National Thoroughbred Racing Association 2
National Thoroughbred Racing Association Membership includes: Racetracks Owners Breeders Trainers Horseplayers Affiliated horse racing and breeding associations 3
Advantages of Horse Racing Highly entertaining, social activity Labor intensive agri-business Passionate fan base everybody loves horses Challenging intellectually Prestigious ownership opportunities Environmentally friendly Beneficial federal legislation - IHA 4
U.S. Horse Racing Metrics 50 million fans 7 million core fans who attend and wager regularly More than 60 Thoroughbredracetracks Nearly 90% of all money wagered is bet remotely on televised races More than 1,000 off-track wagering sites Only U.S. sport to conduct legal online wagering, now a $3 billion market 5
Horseplayers National Handicapping Championship Average age 52 Highly educated (21% graduate degrees) Affluent (average income $117,000) Inclined to travel and wager Attracted to the intellectual challenge 6
Horse Racing Globally Global sport present in 60 countries U.S. horse racing accounts for about 14% of global wagering U.S. a leader in race horse breeding worldwide 7
Horse Racing Big Events Triple Crown stronger than ever Attendance at the Triple Crown events was 392,193 (including record KYD and PREAK) Handle on the Triple Crown was $413 million NBC TV viewership for Triple Crown was 46.9 million Strong race meetings coast to coast Keeneland Saratoga Del Mar 8
Horse Racing Big Events Breeders Cup World Championships 2 days, 15 races, $26 million in purses 100,000+ attendees Best horses, trainers, and owners from across the globe Culmination of Thoroughbred racing s season Often decides Horse of the Year and other prestigious Eclipse Award categories 9
Horse Racing Big Events Breeders Cup 2013 Economic Impact Total direct spending $39.5 million Total economic impact $64.9 million in business sales, 532 full-time equivalent jobs, and $25.9 million in labor income, including indirect and induced impacts $4.8 million in state and local taxes Source: Tourism Economics study of 2013 Santa Anita, CA event 10
Racing Industry Jobs Track employees Breeding farms Trainers Grooms/hot walkers/exercise riders Jockeys/Drivers Veterinarians Services and suppliers (e.g. farriers, feed) 11
Economic Impact of Horse Racing Industry $11 Billion Wagered Annually Nationwide $90 Billion worldwide 375,000 horse racing jobs nationally $37 billion in economic activity $1.9 billion generated in tax revenue 12
Economic Impact of Georgia Equine Industry 173K Georgia households own horses Contributes $868.7MM to Georgia Economy 6th most valuable commodity in Georgia All horses valued at $413MM Roughly 3.5% of all Georgia commodities. Source: GA Agricultural Commodity Commission for Equine (2008) 13
Why Does Georgia Need Horse Racing? Georgia breeders and owners now raise their horses in Florida, South Carolina or Kentucky Georgia racing fans are visiting racetracks in Kentucky, Florida, Louisiana and elsewhere Atlanta is the largest metropolitan area in the U.S. without a racetrack (NYC, Los Angeles, Chicago, Dallas, Philly, Houston, Washington, DC, Miami) All of these factors are costing Georgia jobs, tourism and related tax revenue 14
