kentucky racing | Horse Racing Free Tips

KHRC Announces KTBIF Totals for 2022

The 2022 Kentucky Thoroughbred Breeders' Incentive Funds (KTBIF) have been released, totaling $17.4 million. Nine out of the top 10 earners in the U.S. in 2022 were Kentucky-breds and race horses from the state won 69% of all graded stakes races in the U.S. as well as 78% of all Grade I races. To qualify, the mare must remain in the state during gestation, and the final award amounts are based on the foal's eventual earnings at the racetrack. A list of the 2022 award winners, along with the amount awarded and other interesting statistics, can be found on the KHRC website.

“The Kentucky Thoroughbred Breeders' Incentive Fund accomplishes its mission of keeping mares and foals in our beautiful state, bolstering our billion-dollar strong equine industry, and providing more than 60,000 jobs for hardworking Kentuckians,” said Gov. Andy Beshear.

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Penny Breakage Increased Profits for Breeders’ Cup Players

Courtesy Thoroughbred Idea Foundation

Horseplayers at the 2022 Breeders' Cup enjoyed more than $545,000 in additional winnings from just the win, place and show pools thanks to the revised Kentucky law that pays pari-mutuel winnings down the penny.

“The two days of racing at Keeneland were sensational, but it was made that extra bit better thanks to penny breakage increasing payouts to players,” said Patrick Cummings, Executive Director of the Thoroughbred Idea Foundation (TIF).

In no race was the impact greater than the Breeders' Cup Classic won by Flightline.

Under the previous provision, and across nearly every American jurisdiction now other than Kentucky, Flightline would have paid $2.80, $2.80 and $2.20 for each $2 stake in the win, place and show pools, respectively. Instead, winning bettors received $2.88, $2.92 and $2.30 from those pools.

“The penny breakage law meant that a $2 bet across the board on Flightline returned a profit 16% larger than it would have under dime breakage,” Cummings said.

Altogether, the win, place and show pools from the Classic returned $240,000 more than with traditional rounding to the dime.

“The wins from Modern Games ($4.76) and Malathaat ($7.76) carried an extra boost too, accounting for an additional $131,000 from the win breakage alone going back to horseplayers.

“Hopefully winning players churned some of that into Rebel's Romance and Flightline.”

Overall, through just 64 days of Thoroughbred racing in Kentucky since the revised law went into effect, total breakage returned to horseplayers from the win, place and show pools is now more than $2.13 million.

Factoring in exotic pools as well as Standardbred racing in Kentucky, the total returned is higher.

“Pricing matters and racing wagering's overall takeout rates, already too high, are inflated by rounding down to the dime. Kentucky took a bold first step and other states and horsemen's groups should follow their lead and support such initiatives.

“Clinging to this antiquated practice is bad business and keeps racing wagering less competitive. We hope racing adopts sustainable practices to build its customer base and 'grow the pie' for all stakeholders.”

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CDI Signs Agreement to Buy Ellis Park

Churchill Downs Incorporated announced that it has signed a definitive agreement to acquire Ellis Park Racing & Gaming in Henderson, Kentucky, from Enchantment Holdings, LLC, an affiliate of Laguna Development Corporation, for total consideration of $79 million in cash, subject to certain working capital and other purchase price adjustments. CDI will also assume Ellis Park's opportunity to construct a track extension facility in Owensboro, Kentucky.

“This is an exciting announcement for the horse racing industry, the cities of Henderson and Owensboro, and the entire Commonwealth of Kentucky,” said Kentucky Governor Andy Beshear. “Churchill Downs has proven it has the experience, resources, and desire to reinvigorate Ellis Park into a premier racing destination and provide unmatched gaming entertainment.”

Ellis Park, located north of the Ohio River and just south of Evansville, Indiana, also features a gaming facility venue with approximately 300 historical racing machines.

“We are very enthused to welcome Ellis Park to the Churchill Downs racing family,” said Bill Carstanjen, Chief Executive Officer of CDI. “Our team is committed to building a summer meet at the 'Pea Patch' that keeps more Kentucky-bred horses and Kentucky-based trainers' in their home state while attracting top horse racing talent from across the country to the Bluegrass State each July and August.”

The closing of the transaction is contingent upon approval by the Kentucky Horse Racing Commission. If change of control is approved, the parties expect to close the transaction shortly thereafter.

CDI has commenced planning to make both critical investments in the Ellis Park racing infrastructure and to construct Owensboro Racing & Gaming, a track extension and entertainment venue at Owensboro's Towne Square Mall that will feature 600 HRMs, a simulcast wagering center, and multiple food and beverage offerings. Over the next year, CDI expects its total investment in Henderson and Daviess Counties to be approximately $75 million in addition to the purchase price.

“The opportunity to bring Churchill Downs to Owensboro is particularly significant to us,” said Jason Sauer, Senior Vice President of Corporate Development for CDI, “We are eager to start the work to elevate Ellis Park's reputation as a summer destination for Thoroughbred racing while delivering a premier gaming and entertainment experience to Daviess County. We look forward to sharing more exciting details about our plans in the coming days.”

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Weekly Stewards and Commissions Rulings: June 7 – June 13

Every week, the TDN publishes a roundup of key official rulings from the primary tracks within the four major racing jurisdictions of California, New York, Florida and Kentucky.

Here's a primer on how each of these jurisdictions adjudicates different offenses, what they make public (or not) and where.

CALIFORNIA

Track: Santa Anita
Date: 06/10/2022
Licensee: Jessica Pyfer, jockey
Penalty: Three-day suspension
Violation: Careless riding
Explainer: Jockey Jessica Pyfer, who rode Picture of a Lady in the first race at Santa Anita Park on June 5, 2022, is suspended for three racing days (June 17, 18 & 19, 2022) for altering course in the stretch without sufficient clearance and causing interference. This constitutes a violation of California Horse Racing Board rule #1699 (Riding Rules – Careless Riding).

Track: Santa Anita
Date: 06/12/2022
Licensee: Abel Cedillo, jockey
Penalty: $750 fine
Violation:
Explainer: Jockey Abel Cedillo is fined $750.00 for violation of California Horse Racing Board Rule #1688(b)(8)(d) (Use of Riding Crop–more than six times–second offense in last 60 days) during the third race at Santa Anita Park on June 11, 2022.

FLORIDA
The following was recently posted on the Association of Racing Commissioners International recent rulings website.

Track: Gulfstream Park
Date: 11/23/2021
Licensee: Marcial Navarro
Penalty: $150 fine
Violation: Trainer responsibility
Explainer: Final Order – Case 2021-040103 – F.S. Chapter 550.105, F.A.C. Rule 61D-2.023(7)(c) – violation = Respondent FINED for failing to ensure that the Petitioner was notified of the death of “NOW A JAGUAR” within 18 hours as required by Florida Administrative Code. 5/24/2022 – Final Order Fine of $150 paid in full.

NEW YORK

Track: Belmont Park
Date: 06/12/2022
Licensee: Steven Lascher, racing official
Penalty: $4,000 fine
Violation: Failure to follow Lasix procedure
Explainer: Mr. Steven Lascher is hereby fined $4,000 dollars for failing to follow proper Lasix procedure necessitating the late scratches of horses racing in the 7th race on June 9th, 2022.

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