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‘I’m A Horseman’: McIngvale Makes Point To Place $2 Million Derby Bet On Track

James McIngvale, the colorful Houston furniture magnate and horse owner known as Mattress Mack, will make the largest wager in Kentucky Derby history Saturday on unbeaten favorite Essential Quality — and he's betting the $2 million or more at Churchill Downs in order to maximize the money that goes toward horsemen's purses.

McIngvale is famous for tying major sporting events into marketing promotions at his Gallery Furniture mega-stores. Customers who spend $3,000 or more on certain mattresses and bed sets in a given time frame get their money back (or 150 percent of what they spent in in-store credit) if the promotion's featured team — or in this case, horse — wins.

Also making headlines are the millions McIngvale has wagered to hedge his bet against giving away so many mattresses. Mack has bet through casinos to cover previous promotions on the World Series and Super Bowl, locking into fixed odds. However, he's making a point to put his money on Essential Quality through the Churchill Downs mutuel windows, where horsemen receive the biggest cut for purses.

McIngvale has a large racing operation best known for 2015 Breeders' Cup Sprint winner and Eclipse Award champion sprinter Runhappy, now a stallion at Claiborne Farm. While no individual has been more heavily involved in horse-racing sponsorships than McIngvale, he said this is the first time he's used the outcome of a horse race as a Gallery Furniture marketing ventures.

“This is the first horse-racing event I've been able to use as a promotion,” said McIngvale. “The people at Churchill Downs have been great working with me on using their trademarks and this and that. Of course, I've been receiving calls from across the country, legal bookmakers wanting me to bet with them, people in some states where they don't contribute much if anything to the (betting) pool. Their pitch is that $2 million won't effect the pool, but you'll get the same odds as you would at Churchill.

“Well, I don't want to do that, because I'm a horseman. I know what pays those purses is the handle. So all the money I'm betting will be at Churchill Downs. Let's face it, Churchill Downs has to make some money, too, to put on the show. So it's good for Churchill, which is a tremendous track and promoter of horse racing, but most of all it's good for the owners, trainers, jockeys, the backstretch workers who put their life into the game. I didn't want to bet someplace else or offshore. I wanted to go where the track's dollars were maximized and the horse owners' dollars were maximized to support the ecosystem of the entire game.”

Churchill Downs' purse account — which funds the money for which owners' racehorses compete at any given track — receives approximately 10 percent of all on-track wagering. So $2 million bet on Essential Quality will reap about $200,000 for purses. The amount would be half or far less if the money were wagered off track through simulcasting, online or at a casino.

McIngvale said he's already wired the funds to Churchill Downs and plans to spend the day at the track.

“I haven't decided how much I'm going to bet. It depends on how many mattresses we sell,” he said. “But it will be at least $2 million. I have to figure whether to bet it all at once, or bet $500,000 three or four different times. How to structure it, whether I want to bet any exactas or just win bets or any place and show bets. I've got a lot of people advising me. I'm just worried about Essential Quality. I hope he wins. He's a deserving. It should be a great event. I'm just glad that whatever money I'm betting will go mainly to the horsemen and Churchill Downs, where it deserves to go.”

Marty Maline, executive director of the Kentucky Horsemen's Benevolent Protective Association, applauded McIngvale's move to bet on track.

“When people see these monstrous numbers in total handle wagered on a track's card, they think the horsemen get a tremendous split from all of that,” Maline said. “But there's a huge difference between $100 bet on a racetrack and $100 bet off-track as far as what goes to purses. I certainly don't want to denigrate the ADWs (online betting platforms), because that's broadened the market and allowed people to bet who otherwise couldn't. But a bet at the track contributes far more to purses than anywhere else it might be placed. Good for Mattress Mack.”

McIngvale, a philanthropist who sheltered storm victims in his furniture showrooms in the wake of Houston's 2019 flooding, also collaborated with Churchill Downs to bring about 300 foster-care parents, alumni and social-service workers to Saturday's Derby.

The post ‘I’m A Horseman’: McIngvale Makes Point To Place $2 Million Derby Bet On Track appeared first on Horse Racing News | Paulick Report.

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Canadian Racetracks, Horsemen Address Committee Regarding Sports Betting

On behalf of the Canadian horse racing industry, Woodbine Entertainment, Racetracks of Canada, Quebec Jockey Club and the Horsemen's Benevolent Protective Association Of Ontario (HBPA), would like to thank the House of Commons' Standing Committee on Justice and Human Rights for the opportunity to be witnesses today as part of its study of Bill C-218, an act to amend the Criminal Code that would legalize single-event sports betting in Canada.

“We sincerely appreciate the opportunity to represent the horse racing industry today as Bill C-218 continues to be studied,” said Jim Lawson, CEO, Woodbine Entertainment. “After participating in today's discussion, we remain confident that the Government appreciates the importance of the horse racing industry, recognizes its substantial economic impact, and understands the need for it to be protected from any unintended consequences from the legalization of sports betting in Canada.”

During the committee meeting, Racetracks of Canada President Bill Ford, Quebec Jockey Club Director Murielle Thomassin, HBPA President Sue Leslie and Lawson reiterated support for Private Members Bill C-218 but requested that it adopt language to protect the industry and the 50,000 jobs it supports across Canada by prohibiting fixed odds wagering on horse racing.

In recognition that sports betting will likely reduce horse racing's share of the wagering market in Canada, and in response to the ongoing financial impacts of COVID-19 on the industry, Ford also requested the Government consider legalizing Historical Horse Racing – a pari-mutuel gaming product where individuals can place a wager on the outcome of races that have occurred in the past. Before the individual locks in a wager, information presented is anonymized in a way that prevents the player from identifying which historic race they are betting on.

“Historical Horse racing is currently prohibited by the Criminal Code, despite it being a proven and legal product in many jurisdictions in North America,” Ford said.

Revenue from Historical Horse Racing would be particularly beneficial to the smaller tracks that only run seasonally for a few weeks a year.

“Overall, we continue to be optimistic about receiving the protection our industry deserves and remain hopeful we will be provided with an opportunity to participate in sports betting in a meaningful way,” Lawson said.

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Saskatchewan Horsemen Facing Uncertainty As Their Lone Racetrack Could See A Second Year Of No Racing

Uncertainty about the future of horse racing in the Canadian province of Saskatchewan continues to grow this week as an investor group backed out of negotiations to conduct a 2021 race meet at Marquis Downs, the province's only licensed racetrack.

The local population of approximately 300 horses, as well as their owners, trainers, and caretakers, are left with few good options, especially since the COVID-19 pandemic also forced the cancellation of the 2020 race meet. According to Saskatchewan HBPA executive director Eddie Esquirol, approximately 180 of those horses were able to move to neighboring provinces for 2020 racing, but the rest were unable to earn any income last year.

With no existing commitment from Prairieland Park, the operator of Marquis Downs, for a 2021 meet, horsemen are being forced to make hard choices about their futures.

“We recognize they have expenses as an operator,” Esquirol said, “but we as horsemen, our costs are still there whether there's horse racing or not.”

“Horse racing has been part of Saskatchewan's heritage for over 100 years and been a part of Indigenous people's culture since time immemorial,” he continued. “Our respected indigenous people of Saskatchewan represent 50 percent of the owners, trainers, grooms, exercise riders, gate crew and pari-mutuel staff; many who are fifth and sixth generation horse families.”

Prairieland Park has been operating live Thoroughbred race meets at Marquis Downs since 1969, consisting of 24 to 30 days of racing per year. The track does not simulcast its signal, so it relies exclusively on attendance, on-track handle, and the handle at its off-track betting facilities in several locations across the province.

Saskatchewan is also the only province in Canada that does not receive government funding for horse racing; adjacent province Alberta receives over $40 million annually between breeding incentive programs and purse funds, Esquirol said.

Following last year's cancellation of the race meet, Prairieland met with the HBPA in July to propose an 18-day race meet for 2021. In November, Prairieland upped the proposal to 20 days, with one less race per race day. The HBPA countered with a minimum of 24 race days, but Prairieland rejected that offer.

To date, Prairieland has yet to apply for race days in 2021.

In late December, the HBPA was approached by an investment group called Pan Am Horse Racing with a proposal to lease the Marquis Downs facility for a 40-day race meet in 2021. The proposal called for a two-to-five year commitment, an investment in simulcasting, provincial government funding of $2.5 million, and included a backstretch jockey/groom school aimed at the local aboriginal population.

Publicly-available financial documents indicate that Prairieland Park loses between $300,000 and $500,000 on racing each year at Marquis Downs, Esquirol said.

Pan Am entered into negotiations with Prairieland Park in early 2021, but a press release on Thursday, Feb. 18 indicated that Pan Am was no longer seeking to lease the Marquis Downs facility this season.

“After much analysis, legalities and consideration, Pan Am has concluded that due to the unfortunate and unforeseen circumstances primarily related to the pandemic, Thoroughbred racing will have challenges in the upcoming 2021 season that cannot be easily overcome at this time,” the release said.

Pan Am did suggest the potential for hosting meets at Marquis Downs in 2022 and beyond, as well as its commitment to build a the jockey/groom school.

“As a testament of its commitment to the future of horse racing in Saskatchewan and Canada, Pan Am will provide support through the establishment of a First Nations Equine School,” the release read. “The school's aim is to revitalize Saskatchewan's horse racing industry by providing the necessary future workforce expertise, reflecting our shared heritage and supporting Indigenous youth, culture and identity to benefit us all.”

Still, that leaves the 500 or so individuals directly involved in horse racing at Marquis Downs without a home in 2021. The backstretch would normally open on April 1, so horsemen are being forced to decide whether they'll try to race in other provinces again this year, wait another season without racing, or perhaps leave the industry altogether.

“Another year of no racing at Marquis Downs will mean Saskatchewan horse people will be forced to relocate to other tracks such as Assiniboia Downs in Manitoba, ten hours away, thus creating undue difficulty for families, owners, trainers, many who have a second job in Saskatchewan,” said Esquirol. “Relocation means paying double rent and utilities both in Saskatchewan and Manitoba. Furthermore, being faced with the 14-day interprovincial quarantine when they arrive. All while the Marquis Downs race facility sits empty.

“Saskatchewan has some of the most loyal fans in North America where there is tremendous appetite for sports and crowds have been huge the past number of years. You don't have to live in the bluegrass state of Kentucky to have the passion and desire to be part of the horse racing industry. People call it the 'Sport of Kings' when in reality 80 percent of the industry is made up of everyday hard-working people, who may otherwise be unemployable. They are up at 5 a.m. to do what they love; it's a passion.”

Esquirol said he hasn't given up on securing a 2021 meet, even if the odds are against it.

“Our plan now is to re-affirm the government ask and work with SPPC (Selective Placement Program Coordinator) to negotiate race days for the 2021 meet,” Esquirol wrote on Facebook on Friday, Feb. 19. “SPPC have been notified that horsemen/women stand strong and are planning to have a successful race meet in 2021. I know many of you have contacted your MLA's (Members of the Legislative Assembly) to date. We ask that you continue to voice your concerns.”

Representatives of Prairieland Park did not respond to requests for comment by deadline for this story.

The post Saskatchewan Horsemen Facing Uncertainty As Their Lone Racetrack Could See A Second Year Of No Racing appeared first on Horse Racing News | Paulick Report.

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Uncertain Future for Arizona Racing Industry

At the Arizona Racing Commission meeting last month, representatives from the state’s flagship racetrack, Turf Paradise, announced that they wouldn’t be running their scheduled 2020-2021 race meet between November and May, blaming a variety of factors including health concerns due to the global pandemic, and economic question marks surrounding the operations of Off Track Betting (OTBs) facilities.

That decision has sown seeds of confusion and doubt among many involved in the state’s racing industry–a scenario complicated by ongoing friction between the horsemen and Turf Paradise management.

“Definitely a huge impact,” said trainer Jared Brown, who ordinarily is based in Canada during the summer and at Turf Paradise in the winter. Brown’s southern sojourn is usually a time for restocking his stable for the year ahead, but without that opportunity this winter, “it will impact my business a big deal,” he added.

With the next commission meeting looming this Thursday, perhaps the most pressing issue is this: What may happen to the 2020-2021 race dates, seemingly up for grabs?

“I don’t know what the future is,” said Kevin Owens, an Arizona-based breeder and former president of the Arizona Thoroughbred Breeders Association (ATBA). “I think it’s important to get Arizona open. Give some hope to the people.”

Tom Auther, an owner and partner in Arizona Downs, said that he has informed the Arizona Horsemen’s Benevolent and Protective Association (AZHBPA) that his track could be in a position to conduct a truncated meet this winter. But first, funding would have to be secured–another bone of contention thanks to a fight over who controls the funds in the purse account.

According to Vincent Francia, Turf Paradise general manager, the funds contractually belong to Turf Paradise. “The purse monies are for a specific purpose,” said Francia. “And that is for the horsemen that race at Turf Paradise.”

The horsemen, however, argue that they have control over the purse account. As per a prior arbitrated settlement, “that purse money belongs to the horsemen,” said Leroy Gessman, president of the National HBPA, who added that the account currently totals an estimated $2.1 million. “It’s the property of the HBPA,” he said.

The AZHBPA has asked the racing commission to make a ruling on the dispute, said Gessman, who added that the issue is an item on the agenda at the October racing commission meeting. However, “it is still unclear if they have the authority or not” to make that ruling, he wrote, in a follow-up email.

Indeed, according to Francia, such a dispute can only be settled through third-party arbitration, conducted separately from the commission. If the purse money is released to the AZHBPA, that would pave the way for Arizona Downs to possibly stage a truncated meet this winter, said Gessman.

For that to occur, the facility would need about two months of preparation to make it safe for training and racing, said Auther, who added that Dennis Moore, the Southern California-based expert in racetrack surfaces, recently visited Arizona Downs to examine the track surface.

“We’ve never raced in the winter before,” said Auther, explaining some of the racetrack surface safety issues that would need to be navigated. Ultimately, he added, ongoing uncertainty in the state makes planning difficult. “We just don’t know what’s going to happen,” he said.

What’s more, the door appears to remain ajar for Turf Paradise to reverse course and conduct a race meet this upcoming winter.

“I don’t want to give our horsemen false hope,” Francia said, stressing the unpredictable nature of the pandemic. “What I am saying is we’re keeping all of our options open.”

These developments form just the latest chapter in a fraught relationship between the horsemen and Turf Paradise. When the facility officially closed its doors at the beginning of May, for example, track management gave the AZHBPA 30 days to remove its belongings from its Turf Paradise office.

These tensions persisted prior to the August commission meeting, when the AZHBPA emailed the operators of Turf Paradise a list of 17 questions and demands surrounding such issues as the multi-year agreement that the HPBA entered into with Turf Paradise, stable area renovations, and contingency plans in the event of a second wave of COVID-19 infections this winter.

A number of horsemen interviewed for this story voiced concern about Turf Paradise management recently selling off track equipment and certain items of the facility–a possible indication, they said, of the track’s lack of long-term commitment to the sport.

“This is something we do every year,” Francia explained. “If we had to conduct a race meet, I would need a couple weeks to put it together, but we could do that.”

When asked if Turf Paradise is indeed for sale, Francia responded that Turf Paradise owner Jerry Simms is open to offers. “That’s certainly one of the options we’d look at,” said Francia. “But there are no buyers out there right now for Turf Paradise.”

Others have more immediate concerns. According to Arizona racing commissioner Rory Goree, stakeholders need to “put their differences aside” in order to thrash out a way forward “that works for all of us.”

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