Are Krone and Peterson an Unbeatable Team?

From the TDN LOOK

Passion is a funny thing.

What is it, you wonder, about one place or another, one person or another, one career or another that is so compelling that the person caught in its grip will do anything to have it?

Ferrin Peterson can’t exactly tell you why she will at least temporarily put aside the eight years of study and sacrifice that earned her a veterinary degree from UC Davis, one of the top schools in the country, and a lucrative-and safe-career as a large-animal vet. Nor can she say why she’s willing to let her acupuncture skills and certification lie dormant, for now.

All she knows is this: “I’m following my passion.”

That alone would be an interesting story: girl sets aside career as a veterinarian to pursue her dream of being a jockey. But Peterson took the interest in her choice to a new level when she hired Julie Krone to be her agent, and announced that they would get their start together at Krone’s old stomping grounds, Monmouth Park, when the meet opens July 3.

Peterson is 5’4″, 108 pounds, with a polite manner. At 28, she brings a maturity and confidence to her career not found in most seven-pound apprentices. In all likelihood, she is the best-educated jockey in history, and her accomplishments go beyond that. She is also a certified acupuncturist and was a Division I pole vaulter at Cal Poly San Luis Obispo who reached the state finals in high school and at junior college.

Krone met Peterson at Del Mar last summer, and she made the snap decision to become involved in her story, and to represent her in her own first try at being a jockey’s agent.

“She had a reputation for being the girl who loves racehorses so much that she’s going to ride races while she goes to vet school,” said Krone. “She wants to be a jockey with passion of nothing I’ve ever seen in my life. Literally. Like, unmeasurable craziness. I’ve seen people try to talk her out of it, and they’re like, `Oh, you’re a nice girl. You’ve got a great education.’ And the way she sees it, she’s going to be a jockey until she’s old, and then she can be a veterinarian.”

“This is literally what I wanted to do my entire life,” said Peterson, who graduated a year ago, and felt the call of riding races pulling her back to the track full-time after getting on horses for trainers in the morning during her final years at school. “When I was a young kid, I was always talking about becoming a jockey. I grew up on the back of a horse.”

Monmouth was Krone’s idea. She said that the strength of the jockey colony and the small fields that have plagued Southern California make it a tough place to get your start. Krone parlayed her own success at Monmouth, where she won the riding title from 1987-1989, into a career on the New York and later Southern California circuits. And it’s not the only page they’ll take out of the Krone playbook.

John Forbes and his then-assistant Pat McBurney played a key part in getting Krone’s career off the ground when Forbes, the perennial leading trainer at Monmouth at the time, used her as his regular rider. McBurney has now taken over the reins at the stable, and when it came time to entrust Peterson’s career to someone, Krone sent her east to work with McBurney. She spent this spring exercising eight or nine horses a day for the trainer at Overbrook Farm, where McBurney stabled his horses until Monmouth Park opened for training. McBurney said that when Krone called, he listened.

“I received a call from Julie Krone and she asked me about an apprentice rider coming out to Monmouth Park this summer,” McBurney recalled. “If Julie was excited about a rider, of course we were going to listen to that. So she came out to Overbrook and has just been galloping and breezing horses. We only have a half-mile track here, so you can’t kick on too fast, but she’s doing very good; gets along with the horses as she learns about them, getting them to relax and everything. It’s hard to say what kind of jockey she is at this point, but has a great way with horses. She’s a very hard worker with a great attitude. Everyone likes her in the barn, and everyone is interested to see her get riding and see how she can do.”

Krone was inducted into racing’s Hall of Fame in 2000, and retired for the second and final time in 2004 after winning 3,704 races in a career that spanned almost 20 years. She has taken a particular interest in Peterson since meeting her at Del Mar last year, moving her into the home she shares with her husband, the writer Jay Hovdey, and their daughter in order to more efficiently impart her knowledge. They have reviewed films and form, done strength training, strengthened other muscles by surfing and playing pickleball, and have formed a strong friendship as well as working relationship.

Before they met, Peterson had been riding at Golden Gate while she completed her clinical year in veterinary school, but she always had her sights set on the Southern California circuit. “I thought, `I’m going to go to where I know of the best jockeys and trainers and try to learn from them. And if I don’t make it, then at least I tried my hardest and had an awesome experience.'”

She had had a handful of winners when, that summer at Del Mar, she set out to meet Krone, who was doing a book signing on Pacific Classic Day. Peterson saw the line that had formed, and realized that it wouldn’t be a good opportunity to talk, but happened to run into on her way out of the track that night. She introduced herself, and Krone invited her to her house to talk the next day. The following week, Krone suggested that she stay in San Diego and train with her, and return to racing in the spring.

For the past 15 years, Krone’s nearly full-time occupation has been as a mother. While she has done some racing commentating work here and there, her main focus has been her daughter Lorelei, a gifted singer and actress who is a community theater regular in the San Diego area who hopes to pursue that interest in college. Lorelei tearfully confessed her lack of interest in horses when she was young, and Krone has supported her passion for theater, helping out by painting sets, sewing costumes and even acting a bit here and there.

But in Peterson, she might have found not only her return to the sport, but a new career after her daughter heads off to school. While Peterson is 28, Krone has definitely taken her under her wing as if she’s her second child.

To read the rest of this story at the TDN Look, or to watch the video or hear it as a podcast, click here.

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Thoroughbred Idea Foundation: Competition From Fixed-Odds Betting Good For Racing’s Customer

Legal, fixed-odds betting on horse racing in America, which has essentially been limited to big races offered by Nevada books, will take a big leap forward this summer when Monmouth Park, in partnership with Australian firm The Betmakers, will introduce a daily fixed-odds market for Monmouth's races and enable other bet-takers in the state to do the same. It is thought that fixed odds on simulcast races imported to New Jersey might be offered soon as well.

There should be little question that this is both a work-in-progress and a potentially massive step forward for racing, presenting customers with a new set of wagering options. Dennis Drazin, CEO of Darby Development, operators of Monmouth Park, has been the driving force behind the fixed odds play. He led a prolonged battle to overturn the Professional and Amateur Sports Protection Act (PASPA), which yielded legal sports betting in New Jersey and other states since.

Pari-mutuel betting has dominated the American landscape for decades. The only routine source of fixed odds betting for Americans on American racing is through “off-shore” options, which generally contribute nothing to tracks or horsemen. The evolution of regulated, fixed-odds wagering on racing in America will serve as a much-needed competitive volley against pari-mutuel options which have done little to modernize their product over the years.

As it grows, fixed odds betting on American racing should improve tote betting on American racing. It should inspire investment to modernize the tote system, to better serve customers and present a better betting experience. Without the competition, the American tote wagering experience has stagnated. Some examples

– Bet pricing is high.

– Tote breakage, the rounding down of tote dividends, is an archaic practice that has long-served as an additional tax on customers.

– Late odds changes make it near impossible for customers to know what they would expect to receive should they win.

– New bet types have favored higher takeout, lower-churn wagers.

– Markets are only visible for short periods, roughly only the 25 minutes between races. A majority of money wagered comes in the last minutes before a race is run.

– Projected payouts in exotic bets like trifectas, superfectas and pick “n” wagers (beyond doubles) are not offered.

In a more competitive landscape, bettors should expect service upgrades.

In Great Britain, a jurisdiction which has been dominated by fixed-odds betting for decades, pari-mutuel wagering (often called pool betting in the UK) has been a minor player. The UK Tote Group, a consortium of key owners and breeders in British racing, completed an acquisition and took-over pool betting in the country in late 2019.

Faced with a market that has been dominated by fixed odds betting, bolstered with a strong retail business through betting shops in nearly every British town and an online product supported by a near endless marketing blitz, the UK Tote Group had to devise a method to attract interest in a more sustainable source of betting for racing through pools betting.

Their idea – guarantee that the final tote win price at least match that of the final “starting price” offered by fixed odds providers on win bets (a single “starting price” is agreed upon for placement in the permanent record of the race). If the tote price falls short, the UK Tote Group will chip in to top-up the win dividend to winning customers, with protections in place to avoid manipulation.

Now, there are some very clear deficiencies with the British racing funding model.

Contributions from fixed-odds bookmakers represent a source of funding for purses, governed by the rules set out by the Horseracing Betting Levy Board (HBLB).

“The Levy on off-course betting…is collected from bookmakers as a percentage of the gross profit on their horserace betting business. The majority of Levy income is expended in direct support of horseracing.

“HBLB is among the most important contributors to horseracing's finances. The original intention of establishing the Levy, and therefore HBLB, was to provide a means of compensating racing for the loss of attendance that was anticipated when off-course betting shops were legalised in 1961. Today, HBLB applies Levy funds to a wide range of schemes in direct support of horseracing.”

Per-race prize money in the UK is some of the lowest in the world. There is no suggestion this funding model should be replicated in America, in fact, the funding model should be the opposite.

Establishing fair splits of existing tote betting and new fixed-odds betting on racing should be the key. New Jersey is seeking to prove and refine the model, the rest of the country should follow along enabling fixed-odds betting on racing.

It should be good for racing and the trickle down benefits felt by all of the sport's stakeholders.​​​​​

It's beyond time.

 

 

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Nominations Announced For $1-Million Haskell; Race To Include Derby Points, Breeders’ Cup Berth, Potential Bonus

Thirty-three horses were nominated to the Grade 1, $1-million TVG.com Haskell Stakes, with Monmouth Park's signature race on July 18 offering the added inducements of points for the Kentucky Derby and “Win and You're In” status for the Breeders' Cup Classic, racing secretary/handicapper John Heims and stakes coordinator Lynn T. Ott announced on Friday.

The Oceanport, N.J., track is also putting up a $1-million bonus for any horse that sweeps the Haskell, the Kentucky Derby and the Breeders' Cup Classic this year.

The nine-furlong Haskell, to be contested for the 53rd time, headlines a stakes-filled program that includes the Grade 1 United Nations. It is one of just two Grade 1 races left for 3-year-olds prior to the Kentucky Derby, which has moved to Sept. 5 from its traditional spot the first Saturday in May because of the Covid-19 pandemic.

The Breeders' Cup Classic is set for Nov. 7.

A total of 170 points will be available for a chance to make the starting gate in the Kentucky Derby, with 100 going to the Haskell winner, 40 to the runner-up, 20 to the third-place finisher and 10 to the fourth-place horses.

Santa Anita Derby runner-up Authentic is one of three runners nominated from trainer Bob Baffert's barn. Cezanne and Uncle Chuck are the others.

Baffert has won the Haskell Invitational a record eight times, doing so in 2015 (American Pharoah), 2014 (Bayern), 2012 (Paynter), 2011 (Coil), 2010 (Lookin at Lucky), 2005 (Roman Ruler), 2002 (War Emblem) and 2001 (Point Given).

Opening Day for the 2020 Monmouth Park meet is set for Friday, July 3, with a 5 p.m. first post. Saturday and Sunday post times will be 12:50, with the exception of a noon start on Haskell Day.

The list of Haskell Stakes nominees (which does not include late mail):

Ancient Warrior
Attachment Rate
Authentic
Basin
Candy Tycoon
Caracaro
Celtic Striker
Cezanne
Double Crown
Dr. Post
Enforceable
Ete Indian
Fame to Famous
Farmington Road
Jesus' Team
Lebda
Max Player
Mischevious Alex
Modernist
Money Moves
Mr. Big News
Mystic Guide
NY Traffic
Pneumatic
Shivaree
Sole Volante
Soros
Summer Kid
Swiss Skydiver
Tap It To Win
Uncle Chuck
Unrighteous
Winning Impression

 

The post Nominations Announced For $1-Million Haskell; Race To Include Derby Points, Breeders’ Cup Berth, Potential Bonus appeared first on Horse Racing News | Paulick Report.

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Monmouth: Owners To Be Allowed To Watch Morning Workouts Starting June 26

Owners will be permitted to watch their horses work from a designated area at Monmouth Park from 5:30 a.m. to 10:30 a.m. Fridays through Sundays starting Friday, June 26, the track announced Tuesday.

Monmouth Park in Oceanport, N.J. has been closed to all but essential personnel since March 16, when restrictions were put into place to slow the spread of the Covid-19 virus.

The track opens for its 75th season of live racing on Friday, July 3.

Under a special permit that allows for re-purposing of restaurants under the state's Stage 2 loosening of restrictions to slow the pandemic, owners will be allowed to watch workouts only from a newly-created venue at the Blu Grotto, which is an all-weather tented section adjacent to Bluegrass mini-golf that abuts the racetrack.

To gain access, owners with a valid ID will enter through the Blu Grotto entrance on Port au Peck Avenue and will undergo temperature checks as well as a health questionnaire.

For more information visit www.monmouthpark.com or follow the racetrack on Facebook, Twitter and Instagram.

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