Twelve Questions: Bill Nader

Bill Nader was named President and CEO of the Thoroughbred Owners of California this past June. He worked as a senior executive at the Hong Kong Jockey Club from 2007 until then, and was formerly the Senior Vice President and COO of the New York Racing Association. He began his career at Rockingham Park in his native Salem, New Hampshire in 1979.

Most exciting race you watched this year that wasn't Flightline?
Jockey Club Mile on Nov. 20 when Golden Sixty ran down California Spangle with a closing quarter in 21.32. I watched it on tv so not sure if it counts.

One positive change you'd like to see in racing in 2023?
Positive communication from those who enjoy the sport. Words matter. If you love it and you know it, then your words should surely show it.

If you could bring back one racetrack from the past, which would it be?
Rockingham Park, my hometown racetrack. Honorable mentions to Arlington and Hialeah.

Who's the best executive in racing right now?
Me. If I say anyone else, I place myself at unnecessary risk.

If you could have dinner with one historical figure, who would it be?
Martin Luther King

Best advice you've ever gotten?
My Mom – “Just be yourself.”

What does racing look like in 10 years?
Japanese horses will be a big part of the picture in major three-year-old Grade I classics on dirt. Sports betting will be available at most racetracks. The popular racetracks will continue to thrive.

Do we need more tracks or fewer tracks?
Fewer.

Favorite horse of all time (and why)?
Spectacular Bid, for what he accomplished after losing out on the Triple Crown. His four-year-old season was incredible.

Best race you've ever seen?
The 1998 Belmont Stakes when Victory Gallop denied Real Quiet a Triple Crown. That was an absolute thriller.

Hardest working person you've ever worked with?
Winfried Engelbrecht-Bresges, CEO of The Hong Kong Jockey Club and IFHA Chairman

All I want for Christmas is…?
To spend it with my daughter Martina in Solvang, California.

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National Stud and MyRacehorse Team Up in Stradivarius Breeding Syndicate

The micro-share syndicate MyRacehorse is branching into the world of breeding  with a syndicate involving star stayer Stradivarius (Ire) and in partnership with the National Stud.

Through the latter the group purchased the Dark Angel (Ire) three-year-old Blackbird Power (GB) at the Tattersalls December Mare Sale. A six-furlong winner for Andrew Balding, she will be sent to Stradivarius next season, with shares of both the mare and her resulting foal will be sold before both are reoffered at the Breeding Stock Sale at the end of 2024.

“When The National Stud approached us with this idea, we knew we had to be a part of it,” said Jules Pittam, a managing partner of MyRacehorse in the UK and Ireland.

We promise our owners top racehorses and unique experiences, and you really can't beat owning one of the first foals by the phenomenal Stradivarius. Add in the fact that owners will have ample opportunity to visit The National Stud and see not only their foal, but Stradivarius as well, and you have a real once-in-lifetime opportunity.”

The National Stud's CEO Anna Kerr added, “Our partnership with MyRacehorse gives racing fans an opportunity to experience horse racing ownership in a totally different way. Stradivarius is a modern racing icon, and the opportunity to be a part of his stud career will enable those involved to build a deep connection with one of the most popular Flat horses in recent memory. We are looking forward to welcoming owners to the next chapter of Stradivarius's story and look forward to this syndicate providing MyRacehorse owners with a truly unique experience.”

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The Truth About Betting Systems

Every gambler knows someone who plays to a system. But serious blackjack and poker players don’t use systems because they’re overrated. Skill counts a great deal in both of these games and it tends to balance out the chance factor over any significant period. People who bet on the horses are always using systems, yet the house edge in horse racing is far greater than in the game of roulette – and the edge is too great in roulette, too. The bookies rake in between 15 percent and 25 percent on the horses, which takes any advantage away from you. Even so, some knowledge of horses can help you at the track … but there is no information you can apply in roulette or craps. These are totally games of luck. None the less, gamblers do try to formulate betting systems to overcome the house edge in these games.

There are countless systems in use – doubling-up (also called the Martingale system), in which bets are increased progressively; doubling-up plus 1; raising, lowering and cancellation; and a myriad of subtle variations on these systems. A common factor they all share is this: they don’t work. Eventually you’ll lose because only one factor makes the difference in the long run, and that’s the house advantage. Using a system just delays the inevitable.

The only winning strategy for craps or roulette is to get a lucky win and then make a hasty departure. If you hang around, that house edge is going to sneak up on you eventually. In the majority of systems you have to raise your first bet until you’ve recovered what you lost. Maybe this would work if we were betting on the toss of a coin. Suppose you wager $10 on heads but the toss comes out tails. You would merely need to bet “double or nothing” over and over again until heads did eventually win. We’ll assume there’s no top limit on the betting in this game of heads or tails and you could bet a million dollars if necessary as you sought to break even. Casinos do impose betting limits, however. A drawn-out succession of reds would break you if you were playing double-up or double-up + 1 on black.

In a simple toss of a coin, moreover, you don’t have to play against a built-in house advantage. The problem at the heart of any gambling system is that the odds are always stacked against you. The house edge insidiously works against you, and the more time you spend trying to beat it, the more likely it is to get you. If you ran a shop, would you sell all of your goods at a 5 percent loss? Over enough time any betting system will break you. So, is there nothing to be done?

In craps or roulette you must do everything possible to maximize your chances of winning. Bet on a number, not on corners. Go for a win in the fewest possible number of dice-rolls or spins of the wheel. Gamblers who like to prolong the pleasure of being at the table are the ones who lose. If your roulette bankroll is $100, bet it on two spins of the wheel. If you get lucky, leave the table at the first sensible opportunity. Don’t ever walk away immediately after a winning spin. Let the winning streak run its course first. But as soon as that happens, cash out and leave. Craps and roulette call for mighty self-discipline. Be absolutely determined to bet fast and walk away with what you win. If you let the game draw you in, it’ll eat you.

If it’s fun you’re looking for, become familiar with blackjack. You can play blackjack as long as you like and there’s not much of a house edge to worry about if you keep your head screwed on straight. But your interludes at roulette or craps should be more like lightning raids. And leave your betting system behind when you go there, or it’ll cost you dearly.

HISA By The Numbers: Crop Violations Found In Less Than 1 Percent Of Starts

It may feel to the casual observer as though crop violations have made news left and right since the Horseracing Integrity and Safety Act's first round of regulations went into effect on July 1. Data presented by the Horseracing Integrity and Safety Authority this week suggests that they're actually quite uncommon.

Ann McGovern, HISA director of racetrack safety, provided the statistics alongside racetrack safety standing committee chair Dr. Sue Stover at this week's 48th Annual Global Symposium on Racing in Tuscon, Ariz.

When looking races run between July 1 and Oct. 31, Authority stewards found whip use violations in less than 1 percent of the total number of starts taking place around the country during that time. When the data was broken down by week, the average offense rate had dropped closer to .5% of total starts. Among those riders receiving whip use violations thus far, 64% have had only one violation, with very few receiving three or more.

“The take-home message is that once a jockey has a violation … they learn from the process,” said Stover.

Authority staff also ran some numbers to see whether the new whip use regulations were changing race outcomes. They examined average winning times by race distance (in furlongs) for the same period of July through October in 2021 and 2022, testing the hypothesis that fewer allowed strikes would result in slower finishing times. At most distances, there was no statistically significant difference in the finish times between 2021 and 2022; in a couple of longer-distance categories, times this year were actually slightly faster.

Then, the team looked at the finish position of horses who were favored at the start of a race. Again, they found no statistically significant difference in those average finish positions.

The team also presented some limited data from its first few months of a national voided claim policy.

When broken out by claiming price, horses running for a $5,000 tag had more voided claims under the new policy than other price points, with between 40 and 45 voided claims so far at that price. The HISA void claim policy requires claims be voided if a horse is determined unsound in the test barn, experiences epistaxis, or has a post-race medication violation. These conditions are in addition to the policies many tracks already had in place voiding a claim in case of a horse dying on the track or being vanned off. Some states had void claim policies prior to July 1, while others had none.

McGovern cautioned that there isn't yet enough data on void claims to draw broad conclusions on what it means about soundness.

“What this is showing you is that the largest number of [voided] claims by price is in the $5,000 range,” said McGovern. “This chart alone may not tell us a lot more than what we'd expect to see. When we look at this over a period of time we want to look at this as a percentage of claims in proportion to the number of races run in that category. We don't have enough data to do that as well as we'd like to right now.”

Stover added that the majority of claims that have been voided so far around the country were due to post-race unsoundness, with epistaxis as the second most common reason.

Read our previous reporting about void claim policies here.

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