Anyone lucky enough to visit multiple U.S. racetracks would make the observation that each one has its own unique charm. Some horse tracks are bigger than others. Some allow you to get closer to the horses, while others are designed to accommodate a range of attractions including live music, backyard picnics, fine dining, or VIP-level seating and hospitality.
Month: October 2023
Former Leading Minnesota Horse Owner Sentenced To 4 1/2 Years In Prison Over Alleged Ponzi Scheme
Jason D. Bullard, whose Empire Racing Stables was a leading owner at Minnesota's Canterbury Park from 2016-'21, has been sentenced to 4 1/2 years in prison after admitting to wire fraud in connection with an alleged Ponzi scheme federal authorities said defrauded investors out of millions of dollars.
Judge Katherine Menendez of the U.S. District Court, District of Minnesota has also ordered that Bullard “repay what he stole from his victims,” according to the Star-Tribune.
The ponzi scheme was uncovered in 2021 by the Securities and Exchange Commission, which froze the assets of Bullard Enterprises LLC, operated by Bullard and his wife, Angela Romero-Bullard. The SEC alleged at the time that the Bullards raised approximately $17.6 million – much of it from friends and relatives – and falsely stated the funds would be used to trade foreign currencies.
Instead, the SEC alleged, they used some of the money on personal expenses – including their racing stable – and distributed false statements to investors saying their investments were increasing in value. New money raised was used to pay the false “returns,” the SEC said.
The March 31 information document charging Jason Bullard said during the relevant time of the scheme – from 2014 to 2021 – he was not licensed or registered with a regulatory agency to solicit or invest funds from others.
Empire Racing Stables won 147 races from 734 starts for earnings of $2,446,965 from 2016-'21. In 2019, Empire Racing Stables tied for the leading owner title, with 32 wins from 104 starts and earnings of $471,088.
Shortly after the SEC charged Bullard Enterprises with the Ponzi scheme, the Minnesota Racing Commission summarily suspended the ownership license of Jason Bullard and control of the stable's horses was turned over to a court-ordered receiver.
Read more at the Star-Tribune.
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Bidding Now Open For Indiana Mixed Digital Sale
The final portion of the 2023 Indiana Thoroughbred Owners and Breeders Association's (ITOBA) Fall Mixed Sale, the Mixed Digital Sale, went live today, Oct. 16 on HorseAuctionsUSA.com.
The Mixed Digital Sale takes place entirely online and includes a mix of 23 broodmares, weanlings, and yearlings.
The Mixed Digital Sale Sale hosted by Horse Auctions USA began at 8 a.m. ET on Monday, Oct. 16 and runs through 8 p.m. ET on Thursday, Oct. 19. Bids can be placed in real-time throughout the run period or interested buyers can place “maximum bids” and let the computer do the work for them.
Lots will begin to close at 8 p.m. Eastern Time on Thursday, Oct. 19. They are scheduled to close three minutes apart, starting with Lot #1. This is a soft close auction: if a bid is placed in the final two minutes, the auction's closing time will extend for two minutes until there are no new bids.
“As a regional market, we (Indiana Thoroughbred Owners and Breeders Association) are always looking for new and innovative ideas to attract new people to the state of Indiana. We hope people will take a few minutes to look at the offerings in our Digital Sale hosted by Horse Auctions USA on behalf of ITOBA,” Pat McGhee, ITOBA President.
The Mixed Digital Sale gives people around the world the opportunity to get involved in Indiana's lucrative Thoroughbred breeding and racing program. Twenty eight of the 38 stakes held at Horseshoe Indianapolis in 2023 are restricted to Indiana-bred and sired horses. These stakes have combined purses of more than $3.4 million. The purses for the bred and sired horses in Indiana are among the best of any regional program.
The response to the state's growing program has been tremendous. Indiana was one of just two states with an increase in mares bred in 2022 compared to the prior year. An economic impact analysis conducted by Purdue University shows that Indiana has had a 59 percent increase in horses owned, trained, and bred in the state from 2007-2020.
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Canterbury Park First In North America To Eliminate ‘Run-Up’ Distances
Canterbury Park will become the first track in the modern history of North American racing to time Thoroughbred races from the break of the gate, eliminating “run-up” distances. The track announced the change in a press release Monday.
“Accuracy matters. This is a watershed moment for American racing,” said Thoroughbred Idea Foundation executive director Patrick Cummings. “For more than a century, we have endured inaccuracy in racing's most fundamental data points – time and distance. The inconsistencies created by running and timing races with run-up are too numerous to count, but this Is a much-needed first step towards embracing accuracy – for horseplayers, horse owners and any stakeholder in the sport.”
“Canterbury Park's management team is to be commended for being the first to take the lead on this and I am quite confident they will not be the last!”
RUN-UP, RUN OUT
The term “run-up” has been used to account for the untimed portion of Thoroughbred races which is the distance between where the starting gate is placed and the spot on the track which is the published race distance from the finish.
“In some dirt races in America – for example, one mile on dirt at Santa Anita or Del Mar, or six furlongs on dirt at Churchill Downs,” Cummings said, “horses run for 200 feet or more before they get to the point which is the published distance of the race. It is from that point when timing starts. In some turf races, it's even longer.”
“It is remarkable to think about the millions of races which have not only been timed in this inconsistent and inaccurate fashion, but consider the reality that nearly every race distance in a condition book or program is also wrong. There is no track on this continent that has been unaffected by this, but change starts with the first mover and that's Canterbury.”
In the Canterbury press release, the track's senior director of racing Chris Merz noted: “By timing races from the moment the gate opens, we are being more transparent with thoroughbred timing and providing our bettors with the accurate information they have been wanting for years.”
Horseplayer, racing analyst and figure maker Randy Moss was also cited in the Canterbury release.
“This will produce more consistency in timing,” Moss said.
“What handicappers will notice is that opening fractional times will be decidedly slower. A first fraction that would have been 21 and 4 [seconds] might be 22 and 4 or 23.”
HUMAN RACE TIMING EQUIVALENT “UNTHINKABLE”
For those unaware of the state of inaccuracy in North American race timing, the equivalent to human track races could make it clear, Cummings said.
“Imagine if in human, 100-meter sprints, depending on the stadium where the event was taking place, sprinters might run 102 or 104 or 106 meters from the start to the finish, but the timer didn't start until the first runner crossed the point which is 100 meters from the finish. Such inaccuracy and inconsistency is unthinkable at the track and field's top level, yet it's been the norm all over the continent and remains the case for many today.”
Cummings wrote an extensive piece on the perpetual mis-timing of North American races in October 2014 for Thoroughbred Racing Commentary. That piece can be reviewed by clicking here.
“We have accepted gross inaccuracy for more than a century of U.S. race timing where a race published as six furlongs might actually be about 6 1/3 furlongs from start to finish, we've just timed the last six furlongs and given horses the chance to get to full speed before starting the clock. It's wholly unacceptable it has gone on for this long but it's great to know change is coming at one track.
TRICKY TRANSITION
The transition to gate-to-finish timing could occasionally come with some difficulties.
If the starting gate is not able to be placed exactly at the point which is the published race distance from the finish, race distances should be reported to the public as longer than they were originally published.
“I anticipate some bumps along the way with any transition. If the starting gate needs to be placed one mile and 50 feet from the finish, then the race should be reported as one mile and 50 feet, or perhaps even reported in uniform, metric distances to align with many other global racing jurisdictions and human races too,” added Cummings.
Cummings has highlighted instances where graded stakes races are run over distances far longer than the published distance.
“For each of the last few years, Saratoga has run the Grade 2 Bowling Green over a distance they report as 1 3/8 miles on the inner turf course, sometimes calling it 'about' 1 3/8 miles. A review of the timing shows it clearly is much longer than that, with horses running more than a half-furlong longer than what was published.”
Cummings tweeted about these incidents at the time (see below).
R6 at Saratoga today your annual reminder (in advance of Sunday's G2 Bowling Green) that races at Saratoga over 1 3/8m on inner turf, with rail at 18ft, are over a distance closer to 1 1/2m than 1 3/8m.
— Pat Cummings (@PatCummingsTIF) July 28, 2023
“This is a very meaningful first step in the process. I'm hopeful more will follow Canterbury's lead and embrace accuracy, a real sign of respect for racing's customers, particularly horseplayers.”
Canterbury's season is due to begin in May 2024. Race timing is provided by Equibase via the Gmax timing system.
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