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Agri/Gate Management Aims to Enhance the Ownership Experience

Six years ago, Landon Jones and Dawson Guhle got connected through the sport of horse racing. Now, they're preparing to launch a platform that they hope can do the same for others.

In 2021, Jones and Guhle formed the idea for Agri/Gate Management, an app and web-based platform that could be used to simplify communication and streamline the flow of data in the racing industry. They envisioned that through their software, they could remove the barriers to entry for new participants through education, improve the traceability of horses on and off the track, and contribute to the sustainability of the industry for future generations.

Guhle has been involved in the sport for over a decade as a breeder based in Alberta. He met Jones, who was running a sales agency at the time, when Jones became interested in getting involved in racing.

Jones bought in on a horse campaigned by Guhle's Lucky 13 Racing syndicate and was hooked from there. He soon became a partner on another Lucky 13 Racing horse named Maria's Song (Marine Landing). When Maria's Song made his debut on Canadian Derby Day and won going away, Jones brought over 50 people with him into the winner's circle at Century Mile Racetrack.

“It looked like we had won the Super Bowl,” Guhle recalled with a laugh. “But I think that really sparked something for both of us in seeing how excited everyone was and the enjoyment of bringing people together to share that moment. Racing can bring those thrills that you can't really experience anywhere else. It got the wheels turning of how we could bring more people in.”

As a newcomer to racing with a knack for business, Jones saw an opportunity in the sport and a need to bridge the gap between the traditional racing community and a new generation of industry participants. Through this train of thought, he and Guhle formed the idea for Agri/Gate Management.

“In my first few years in the industry, I saw a void as far as a lack of transparency and a lack of communication,” Jones said. “We wanted to build a platform that would streamline communication and billing, create a welcoming environment for newcomers, and re-engage the traditional participants.”

The software is now in its beta version and Agri/Gate is well on its way to launching in the app store in the next few months. Trainers will be able to communicate directly with their owners via the app by sending updates on their horses and organizing administrative records like licensing, billing notes and veterinary reports.

The app will be integrated with Equibase, allowing users to search any horse that is on Equibase and find basic data. Privacy settings will be in place so that only users associated with a specific horse as an owner or trainer persona will be able to see the information shared by the horse's trainer.

Along with increased transparency with horses in training, another key initiative of Agri/Gate is to improve traceability when a horse is no longer on the racetrack. Once a horse is retired, a trainer can pass on the ability to share updates to the new person responsible for the horse. That new managerial persona can share updates within the app so that former stakeholders in the horse can track the horse into its second career.

“These types of things are becoming really important for the sustainability of the industry,” Guhle said. “People don't just accept not having any idea of where a horse went anymore.”

“If we really look at the well-being of the animal and the traceability aspect of the software, I think that's going to be the biggest benefit to the industry as a whole,” added Jones.

Education is another main goal of Agri/Gate. On the app, fans will be able to access informative videos and other educational content.

“Getting the fans on the platform is almost as important to us as the communication piece between trainer and owner,” Jones explained. “One of our key initiatives is converting fans to owners. Syndicates may be able to market on the platform to new potential owners. I think that's going to really provide a new wave to the ownership side.”

Jones said they envision that users will be able to access the platform through some type of subscription model. While all the details are still being finalized, Jones and Guhle are firm in their vision for the platform as the date of Agri/Gate's official launch approaches.

“We want to work with the industry to reduce the barrier of entry. We want to contribute to the sport with a software that is going to help the typical fan get engaged and learn about ownership.”

To learn more about Agri/Gate, click here to visit their website.

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Thoroughbred Racing Economic Indicators: Purses Up, Wagering Down

On Monday Equibase released its January figures for the Thoroughbred industry's economic indicators, which showed increases in purses and number of races but downturns in total daily wagering, average wagering per race day on U.S. races, and field size.

Overall, total purses of $90,069,945 in the first month of 2023 increased by 9.7% over the figure of $82,102,162 reported a year ago. However, January's $874,180,855 in worldwide commingled wagering on U.S. races showed a 7.19% drop in total wagering, and the average wagering per race day number of $3,298,796 represented a drop of 9.29% compared to the figure of $3,646,813 reported for the first month of 2022.

Field size remained relatively the same with January figures showing average field size at 7.73 starters, which is a decline of just .33% from a year ago.

The total number of races increased by 4.3% to 2,280 in January, up from 2,185 in 2022.

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The Week In Review: For Syndicate Partners, What’s In A Name (Or Ten)?

Right now within TDN's Top 12 rankings for the GI Kentucky Derby, seven horses are owned by multiple-entity partnerships. One syndicate maxes out at 10 individual owners, another at eight.

If the horses from those larger partnerships (or other syndicates-there are plenty of them and they are growing in number worldwide) make it into the Derby field, they won't have to worry about getting the satisfaction and distinction of seeing their names in print as owners. But that's only because as a courtesy, Churchill Downs takes the extra step of hiring a graphic designer to rework the traditional program page for America's most historic and important horse race so that no owner of a Derby runner gets left out.

Technically, that practice is at odds with a Kentucky regulation that limits the number of individual owners who can appear on the printed program page to five. At a meeting last week of the rules committee of the Kentucky Horse Racing Commission (KHRC), commission staffers and industry stakeholders tried to take a first pass at updating that rule so that every member of a syndicate (or at least more of them) might get recognized as listed owners in all Kentucky races, not just on Derby day.

“I've been approached by several ownership groups that we make room for more names,” said KHRC commissioner Charlie O'Connor. “As syndicate groups in this country are becoming a big deal, [people] who invest their money in the horse business want to see their name on a program.

“These ownership groups and syndicates are spending a large amount of money in Keeneland and Fasig-Tipton and all the sales houses around the world, and I think it's a fair thing for them to ask for their name to be on the program, and I think that we should be able to accommodate it without any huge, big issues,” O'Connor said.

Others in on the discussion thought so too. But it turns out there are practicality limitations and potential unintended consequences that come into play if the KHRC paves the way for more individuals to get inked into ownership lines.

As for the existing rule itself, KHRC chief state steward Barbara Borden explained it this way: “Currently, our regulation says more than five individual persons shall not be licensed as owners of a single horse. That's why we have limited the number on the program to five. It goes on to say if more than five individual persons own interests, then they shall name one person to be the licensed representative.”

Signator | Chelsea Durand

Still, even within that parameter of five, the ownership line on a Kentucky program does get crowded. Several stakeholders at the meeting referenced the trouble being related to a 200-character limit that is a requirement of the Equibase system. The number for that data field was selected some time ago, well before the proliferation of partnerships in roughly the past decade, and it was once reasonable to assume every ownership entity would fit within that amount of space.

But that equates to just 40 characters per syndicate member if five owners are listed, and even then, to make everything fit, the characters are often squished together without spacing to the point where, as Borden said, the line is “illegible” to anyone trying to decipher the program.

“Part of the problem is two things,” Borden said. “First of all, the owners that want to see their names, they might know their name is on the program. But you can't read it, and neither can anyone else. And the other thing is, the reason we put the ownership on the program to begin with, is for public disclosure. So if it's not legible because we have too many names or the font is too small or whatever, we're defeating our purpose of listing the owners at all.”

Frank Jones, Jr., a KHRC commissioner who chairs the rules committee, wondered if it would be feasible to include a “side document” in the program that would fit all the names in full, while the program page itself got printed in a less cluttered way.

Anna Seitz, who works with Fasig-Tipton and with international syndicates, said that in Australia, “they list all the names. They just do smaller fonts. I know it makes a huge difference. Those owners, that's part of the reason they buy in, because they want their name on there.”

Gary Palmisano, Jr., the executive director of racing for Churchill Downs, Inc., said his company is “all for” syndicates. “But just understand that it is space-limited” and the issue is a “bigger-picture problem” than just learning to deal with the limitations of 200 characters.

“We live this every year with the Derby,” Palmisano said. “Obviously, in the Derby, every owner partnership wants to see their names. Equibase currently doesn't have the capability of putting in more than 200 characters. So we have to physically, manually, white-out portions of the owner [line, and then string together] the text, and try to put it in [with everyone listed].”

But if the rule got changed to list more owners, Palmisano cautioned, “tracks every single day are going to have to have a graphics design person, as we do for the Derby, [to] recreate the program line. [That task] is certainly something that takes our team, manually, a lot of time to do for the Derby program.”

Palmisano continued: “Right now [the rule] says five [owners are the maximum listed]. With the racetracks, assuming Equibase can help us with the language, we can figure out the program piece. We're already actively engaging with Equibase to try to figure out the program piece. But I think the [rules] committee, more so than looking at the program piece, should take a hard look if it should be five, eight, seven, ten [owners listed]. Because that helps us frame what we need to do with Equibase.”

O'Connor said 10 names might be the sweet spot, because he's seeing many partnerships now constructed at the 10% buy-in level aiming for 10 syndicate members.

Borden said that brings up another issue related to disclosure.

“This takes us back two years ago when we had partnership forms, which we no longer require,” Borden said. “Every syndicate would have to report to us all the participants in the syndicate.”

While the partnership forms might raise the unwelcome prospect of more paperwork for everyone involved, Borden said there is an upside to those forms that relates to better transparency.

“We currently don't always know the exact ownership of every horse, so that would probably be a bonus for us,” Borden said. “But it would entail us being advised of all the ownership and the [percentages each entity owns].”

But, Borden said, no matter what expanded number the rule night eventually state, common sense inevitably has to intervene.

Gulfport | Coady Photography

“At some point there has to be, in my opinion, a limit,” Borden said. “It's not infinity. If 100 people own a horse, we can't put 100 names on there.”

Keeneland's vice president of racing, Gatewood Bell, raised another potential red flag related to numerous owners being listed: Although Kentucky has recently loosened its rules regarding coupled mutuel entries in an attempt to bolster field sizes, a single owner still can't run two horses in the same race if it excludes another owner's horse from getting in. So what if one individual was a small-percentage owner in one syndicate and owned another horse either outright or as part of a second partnership? How would preference be fairly determined?

“You wouldn't want to discourage the owners from joining these syndicates and also having horses on their own,” Bell said.

Borden pointed out that any overlapping ownership in a single race, even a tiny percentage, still counts as an owner having an interest in two horses.

The committee ended up not proposing or voting on any rule change. Jones, the committee chair, said the entire issue needed more study, but that it would likely be brought up again in the near future.

“The more you listen, the more you see how complicated a problem this could become,” Jones admitted.

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Purses Set Record In 2022 But Handle Drops Slightly

According to figures released Thursday by Equibase, a robust $1,309,837,841 in purse money was paid out during the year in the U.S., an increase of 10.92% and an all-time record for the sport.

Total handle on U.S. racing in 2022 was $12,108,807,335, a decrease of 0.87% when compared to 2021 numbers. The total bet in 2021 was $12,215,598,838.

“Thoroughbred racing purses and pari-mutuel handle continued to exhibit strength in 2022,” NTRA President and CEO Tom Rooney said in a statement. “Purses were up double-digits year-over year and reached an all-time high thanks in part to contributions from other gaming sources. Pari-mutuel handle was nearly equal to 2021 and the second highest since 2009. These business trends occurred during a year of unprecedented growth in legal, state regulated sports betting. The 2023 gaming landscape promises to be more competitive than ever for the sports wagering dollar. It also represents a huge opportunity to introduce pari-mutuel wagering and the sport of Thoroughbred racing to a vast new audience if we as an industry embrace the challenge.”

While wagering appears to be going through a period of relative stagnation, purses have never been better. The Jockey Club's Fact Book records purse data going back to 1988 when $676 million was paid out. Purses have nearly doubled since then and the 10.92% increase was the largest for the sport in a non-COVID year since the Jockey Club began collecting data.

Average purses paid out per day were $319,161, a 10.06% increase over 2021.

That purses are up in a year where handle fell is indicative of racing's increasing reliance on revenues from slot machines, Historical Horse Racing machines and other casino games. Kentucky, in particular, has seen huge increases in purses thanks to the popularity of the Historical Horse Racing Machines.

For reasons that remain unclear, betting fell significantly during the final quarter of the year and during December. Handle was off by 5.54% during the final quarter and by 7.52% in December.

Despite the drop, the news was not all bad. Handle broke the $12 billion mark for just the second time since 2009. After the betting numbers fell to $10.9 billion in 2020, when COVID-19 played havoc on racing schedules, handle was up 11.8% in 2021. Many have speculated that the increase was due to the sport attracting new customers while bettors were shut out from playing other sports during the pandemic.

The sport still has a long way to go before it can equal the type of handle figures that were being posted in the early 2000s. A record of $15.18 billion was wagered in 2003, the second year during a three-year stretch where handle eclipsed the $15 billion mark.

In the case of most other parameters, there was little movement between 2022 and 2021 figures. There were 33,453 races run during the year, a decline of just 0.33%. The total number of starts was 244,133, a drop of 1.31%. The average field size was 7.30, a slight drop from 2021 when the number was 7.37. The 7.30 number represented the smallest average field size since 1950 when the Jockey Club started keeping records.

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