Final 2009 handle lowest since '96
 

Handle for 2009 hits lowest total since 1996
By Matt Hegarty

http://www.drf.com/news/article/109928.html

Handle on U.S. Thoroughbred races in 2009 plunged 9.9 percent compared to 2008, sending handle to its lowest level since 1996, according to Equibase, as the recession and myriad internal problems continued to hammer away at the U.S. racing industry's declining market share.

Betting on U.S. races, including wagers made in foreign countries, was $12.3 billion in 2009, down from $13.7 billion in 2008. Handle has declined 16.3 percent since 2007, when wagering on U.S. races was $14.7 billion.

Purse money distributed in U.S. races in 2009 was also down, but to a lesser degree than handle, due in large part to subsidies from slot machines at racetracks. According to Equibase, total purse distribution was $1.09 billion in 2009, down 5.6 percent compared to purse distribution of $1.16 billion in 2008. The 2009 figure is the lowest since 2005, when purses were $1.085 billion.

Not a good sign.

Really no surprise here. 2010 will most likely go down these same percentages. Hopefully by 2011 two things will happen. Horse racing will figure out how to solve some of it's problems the economy will start to improve.

Things like the current dispute between Mid-Atlantic Cooperative tracks and Magna/TrackNet don't help either. Were there other disputes of this nature that interrupted the connectivity of the wagering network? If prevent someone from wagering on Gulfstreams opening day for example, and they had a couple of hundred to play with that day, there is no guarantee that they are going to put that in play at other tracks.

It had to have some effect, though probably not huge.

The CDI - Calder fiasco didn't help either