Boyd Browning | Horse Racing Free Tips

Spendthrift Donates $50,000 To Light Up Racing Initiative

Spendthrift Farm has made a $50,000 donation to the Light Up Racing initiative, the community-driven organization said in a release early Friday morning.

Founded by a group of horse racing advocates, Light Up Racing's primary mission is to educate both the industry and the public on evidence-based practices, with a strong emphasis on horse welfare and transparency. The organization seeks to reshape perceptions and foster a well-informed community.

“Our donation demonstrates our commitment to upholding the highest standards of horse welfare, fostering transparency, and driving positive perception change for our industry,” said Spendthrift's Eric Gustavson. “We were inspired to contribute by Boyd's [Browning] call to action. Our only reason for agreeing to a press release is to hopefully inspire others as well. If not us, who? If not now, when?”

By providing accurate, scientifically-backed information, Light Up Racing will empower community members to become knowledgeable industry ambassadors and ensuring a sustainable and thriving future for horse racing.

Click here for more information about Light up Racing.

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Promoting the American Thoroughbred Industry: Letter to the Editor, Justin Casse

During the recent holiday season, I had the opportunity to engage in meaningful discussions with my 13-year-old son, Max, about his future aspirations. As he approaches an age where decisions about higher education and career paths come into focus, we've delved into conversations about his collegiate preferences and professional ambitions.

It is not uncommon for adolescents at this stage to express a desire to emulate the occupational choices of family members. Max, in particular, has conveyed an interest in following in the footsteps of his father, cousin Norm, uncle Mark, and his late grandfather Norman.

Now over the past few days I have had time to reflect on the thoughts and proposals brought forward by Boyd Browning and Nick de Meric. I believe the appropriate route going forward is for American Racing to have a parallel initiative to that of AUSHORSE in Australia. AUSHORSE is the gold standard of Thoroughbred marketing globally. They are frequently advertising the amazing statistics regarding the most buoyant racehorse industry in the world. This is exactly what we need. An enterprise like this would aim to promote the American Thoroughbred industry, encourage investment from both domestic and international sources, and introduce new owners to the excitement of racehorse ownership. Funding the initiative would occur through a small percentage taken from purse structures, sales purchases, or commissions.

This type of initiative could bring several benefits to the American Thoroughbred industry:

Promotion and Branding: A centralized marketing arm can effectively promote the industry, showcasing destinations for racing and sales. As well as the heartfelt stories that occur within our industry (i.e. Cody's Wish) and the amount of jobs it creates and economic impact it has.
International Investment: By actively encouraging investment from overseas, the industry can attract a broader range of participants, boosting competition and raising the profile of American horse racing on a global scale. Again, American involvement in Europe both at their sales and at Ascot is at an all-time high. As well as Europeans shipping to Australia for the Melbourne Cup and other races. It's time we flip the script here.
Introduction to Ownership: Helping newcomers navigate the world of racehorse ownership can foster increased participation and interest in the sport. This could include educational programs, networking events, and other initiatives to make ownership more accessible and enjoyable. I understand we've tried this in some capacity in the past but to include this under one uniform umbrella could create a stronger reputation via a name and likeness to refer to when speaking to the layman about our industry.
Sustainable Funding: By allocating a small percentage from relevant revenue streams, the initiative can secure a consistent and sustainable source of funding for its activities. This ensures the longevity and effectiveness of the marketing efforts.

However, it's important to consider a few key factors in implementing such an initiative:

Industry Collaboration: Success would likely depend on widespread industry collaboration. Ensuring that major stakeholders and participants are on board is crucial for the initiative's effectiveness. But making sure that the funding comes from a broader scale and not from a few wealthier individuals will insure a non-bias representation.
Transparent Governance: As an independent, not-for-profit entity, transparency in governance is essential to maintain trust and credibility. Clear guidelines on fund allocation and decision-making processes should be established.
Adaptability: The racing industry is dynamic, and the initiative should be adaptable to changing circumstances and market trends. Regular evaluations and adjustments may be necessary to ensure ongoing success.

If implemented thoughtfully, a marketing initiative like this one could contribute significantly to the growth and sustainability of the American Thoroughbred industry.

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Fasig-Tipton’s Boyd Browning Urges Industry To Join In Action In 2024

Editor's Note: The TDN received this letter from Fasig-Tipton's Boyd Browning.

2023 was certainly a year of many challenges for the Thoroughbred industry. Much has been written and spoken about the issues we face, although very little action has taken place.

As we enter 2024, I believe it is imperative we make meaningful efforts to improve our sport. Every component of the industry must pledge to do a better job. We must find common ground and set aside our egos.

We must commit (at a minimum) to the following actions as an industry:

1) Establish a public relations plan that: (a) provides a spokesperson to speak for our industry in times of crisis; and (b) addresses the issues and concerns regarding equine safety and aftercare. This will require resources-money!

A new initiative, LIGHT UP RACING, is being launched to address these issues and Fasig-Tipton is committing $50,000 for the initial launch and proof of concept for this initiative. In addition, we will commit $200,000 over the next three years to support organized industry efforts regarding public relations.

2) Implement a plan to utilize wearable technology and install PET scan machines at major racetracks. We have no choice but to embrace these concepts and work together to provide these as cost effectively as possible.

Fasig-Tipton has no financial stake or interests in any providers/vendors of these products; however, we are willing to commit to an investment/expenditure of $250,000 over the next three years to assist in these efforts if joined by other industry interests.

3) Improve our betting product. On Christmas Day, my three sons-in-law and two of my daughters were wagering modest sums on NBA and NFL games in progress.

They wanted action and engagement and were easily able to make understandable wagers on their phones. They could bet on a team, the number of touchdowns, who would make three-point shots, etc. and try for parlays that would produce significant payouts.

Relevant statistical data is available for FREE to encourage participation. The gambling world has exploded–yet our game has not.

We have many extraordinarily talented and successful people involved in our great sport. In addition, we have institutions and organizations with significant financial resources that must make investments today for the good of tomorrow.

I urge the Breeders' Cup, The Jockey Club, HISA, racetracks, stallion farms, sales companies, owners, breeders and trainers to make a commitment of both talent and resources to invest in our future before it is too late.

–Boyd Browning, President & Chief Executive Officer, Fasig-Tipton Co.

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Biederman Steps Down from the Mic

Tom Biederman will be stepping down from the auctioneer stand at Fasig-Tipton at the end of 2023 to focus more on his Lexington-based Biederman Real Estate and Auctioneers company.

Biederman has served as an auctioneer and pedigree announcer at Fasig-Tipton for the past 25 years. He began in the Thoroughbred auction industry as a student at the University of Kentucky and has served in nearly every capacity available in the business, previously working for Ocala Breeders' Sales Company, Barrett's, the Canadian Thoroughbred Breeders and many others.

“I have thoroughly enjoyed every moment of serving, not only with the Fasig-Tipton family, but just as importantly, the breeders, owners, consignors, buyers, and their supporters. It has been a wonderful honor to ply my trade at some of the most recognized Thoroughbred auctions in the world, including Fasig-Tipton Saratoga and the November sale for the last several years,” Biederman said.

He continued, “While I will continue to be involved in the Thoroughbred industry as a consultant and participant, my primary focus going forward will turn to expanding and improving Biederman Real Estate and Auctioneers, a company based in Lexington and founded in 1994 to assist buyers and sellers of quality Kentucky real estate and other commodities.”

Boyd Browning, Fasig-Tipton CEO, added, “Tom has been a valuable member of the Fasig-Tipton team for nearly four decades. He has served the company and our customers impeccably during this time. Although he will no longer be in the auction stand, we look forward to his continued involvement with Fasig-Tipton and the Thoroughbred industry as a horse owner and leader in the Central Kentucky real estate market.”

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