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Between The Hedges: Importance Of New York’s Breeding Program

The following is the latest edition of a bi-weekly series entitled Between The Hedges, discussing the business of betting with a focus on trending wagering topics and statistics. This week's column is penned by Joe Longo, NYRA General Manager of Content Services. Send your questions for Between The Hedges to betweenthehedges@nyrainc.com.

The New York State breeding program plays a pivotal role in the racing calendar at New York Racing Association, Inc. (NYRA) tracks throughout the year.

Highlighted by three state-bred stakes days during the Belmont Park and Saratoga Race Course meets, state-bred restricted races represent more than 30 percent of the races run at NYRA tracks.

“The New York breeding program is critical to the success of racing at Aqueduct, Belmont and Saratoga,” said William Alempijevic, Executive Director of the New York Thoroughbred Horsemen's Association. “Combining the opportunity to race in restricted races with the success of New York-breds in open company and parlaying with the lucrative incentives, New York-breds offer a tremendous opportunity to our owner and trainer members alike.”

The state-bred stakes days have grown over the last several years. The Belmont spring/summer meet's Big Apple Showcase Day, which this year offered six restricted stakes worth $900,000 in total purse money, was first run on Memorial Day in 2015 and has maintained that spot on the racing calendar.

In 2015, the total handle on Big Apple Showcase Day was $10,923,487 and has since averaged $12,123,152, reaching a highwater mark of $14,181,204 in 2018.

The Saratoga summer meet's New York Showcase Day is offered on the Friday before Travers Week, and boasted handle of $16,440,423 in 2015. The lucrative state-bred card, to be held this year on August 27 at the Spa, will feature six stakes for state-breds worth a combined $1.15 million.

The popular New York Showcase Day at Saratoga has averaged handle of $18,397,837, reaching as high as $19,337,739 in 2018.

The Empire Showcase Day card at the Belmont fall meet has also enjoyed success, averaging $12,547,341 in handle dating back to 2015.

State-bred restricted offerings vary by meet. In 2020, 33 percent of the races run at Aqueduct Racetrack were state-bred restricted, while Belmont Park [32 percent] and Saratoga [28 percent] also offered a significant number of races restricted to horses bred in the Empire State.

In 2019, 35 percent of the races run at Aqueduct were state bred restricted, slightly higher than the state-bred offerings at Belmont [31 percent] and Saratoga [25 percent].

The purses tendered for these races reflect the importance of the state-bred program with over $28 million in purse money offered at NYRA tracks in 2020, representing 27 percent of the total purses for the year. In 2019, the total purses offered at NYRA tracks for New York-bred races exceeded $40 million, representing 24 percent of the total purses for the year.

From a handle perspective, over $630 million – or 34 percent of total handle – was wagered on state-bred races in 2020, while in 2019 almost $660 million – or 31 percent of total handle – was derived from state-bred races. The strong handle numbers are directly correlated to their participation with average field size of almost nine runners in the last several years.

New York-breds were competitive in open company last year as well, highlighted by Tiz the Law's victory in the Grade 1 Belmont Stakes presented by NYRA Bets and the Grade 1 Runhappy Travers at Saratoga.

In 2020, 25 percent of the open-company races run at Aqueduct were won by New York-breds, followed by 15 percent at Belmont Park and 11 percent at Saratoga, amounting to winning 18 percent of the total open-company races run during the year. In 2019, the results were similar.

In addition to New York-bred restricted purse money, there are also breeder and stallion incentives offered within the state. Breeders awards are given to the owner of the mare at the time the mare foals in the state.

There are two tiers available for breeders awards based on purse money earned. The tiers are based on whether the horse is a New York-sired New York-bred by a registered New York stallion or a non-New York-sired New York-bred, sired by an out-of-state stallion or non-registered New York-stallion.

New York-sired first-place finishers receive an additional 30 percent bonus, with second and third-place finishers awarded an additional 15 percent capped at $40,000 per award.

For Non-New York-sired horses, first-place finishers receive an additional 15 percent, with second and third-place finishers awarded an additional 7.5 percent capped at $20,000 per award.

Stallion owners' awards are available for all races run in New York and are paid to owners of stallions registered in the state at the time of conception. The awards are 10 percent of purse money earned for first through third place by progeny of registered New York stallions capped at $10,000 per award.

In addition to the awards above, there is an additional open owner's award for all open-company races in New York with a minimum claiming price of $30,000. There are two tiers similar in structure to the breeders awards.

For New York sired horses, first through third place finishers receive an additional 20 percent of the purse money capped at $20,000 per award. For non-New York-sired horses, first through third place finishers receive an additional 10 percent of the purse money capped at $20,000 per award.

The various incentives, purse money offered, and opportunities to run highlight that is pays to be a New York-bred on the NYRA circuit.

Send your questions for Between The Hedges to betweenthehedges@nyrainc.com.

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Mike Piazza: Transparency Key To Success With Zilla Racing Stables

When Mike Piazza formed racing syndicate Zilla Racing Stables in June 2012, the upstate New York native said he wanted to merge his love of horse racing with his analytical mindset.

Zilla Racing Stables capped 2020 with a record of 36-10-3-7 on the New York Racing Association, Inc. (NYRA) circuit, hitting the board at a 55.56 percent clip. With a record of 17-3-2-1 through June 10 this year at NYRA tracks, the partnership is building on that success.

Zilla Racing Stables, who offer fractional ownership opportunities to groups ranging from 10-25 people per horse, form partnerships during different times of the year depending on the horse's age. For 2-year-olds, partnerships commence in March; yearling partnerships commence in August; and claiming partnerships are formed throughout the year. Training and other expenses are billed at the end of each month.

Most Zilla Racing Stables' partnerships operate under a standard model where partners pay their share of the purchase price and expenses at a minimum participation rate of 3 percent.

Also offered is a “zero expense model” for a limited number of claiming partnerships; these entail a minimum participation rate of 5 percent, in which partners pay their share of the horse's purchase price plus a one-time administration fee. In this model, additional expenses are paid for by the trainer, who retains a larger portion of the earnings.

Piazza, who grew up 20 minutes from Saratoga Race Course, was introduced to racing by his parents, who were regular attendees at the Spa.

“They went to Saratoga and racing was on TV all the time,” Piazza recalled. “I was always exposed to it. I love handicapping, reading the racing form, and analyzing sheet numbers. I love analyzing things, so I just got so into it. It wasn't even about the money to me. The process of handicapping a race, watching replays, and seeing how the races unfold is what drives me.”

Piazza said he had racing syndicate experience prior to forming Zilla Racing Stables.

“I really enjoyed it and I saw a lot of areas where it could be improved,” said Piazza. “It gave me the groundwork of all the things that partners are looking for, and what things were important to other partners. When I decided I wanted to do this, I never envisioned it becoming as big as it has.”

A graduate of Siena College with an accounting degree, Piazza said he merged his passion with his occupation.

“At the time I started Zilla Racing I was an accountant, so I knew I could handle things on the financial end,” Piazza said. “Given that I loved horses and horseracing, I just merged all the skills I possess into one thing. I felt that I had the ability to put together a partnership on so many levels. With my accounting background, I didn't have to hire a bookkeeper so the cost could be more affordable to our partners.”

Piazza said transparency is paramount.

“If I'm not giving my partners all the information that they're entitled to as owners, I'm not doing my job,” Piazza said. “It's important to also let prospective new partners know exactly what it is that they're getting into. I even put it out there on Zilla's website that most horses lose money, some break even and very few earn a profit. This way, people know exactly what it is they're about to be in for, without any sort of unpleasant surprises. However, just because this business so tough, it's not an excuse to be inefficient and lose money.”

Piazza said new partners joining Zilla Racing Stables can expect an education on the day-to-day responsibilities for owners.

“Our members learn about vetting, training philosophy, what types of races we are targeting and how horses mature physically, especially through their 3-year-old season,” said Piazza. “You see horses really start to take off during their 3-year-old seasons. That's when the races get faster. I try to get them to understand not just how the horse develops, but how the racing office writes certain races. If people do decide to go out on their own, they know what they're getting into after partnering with us.”

Zilla Racing Stables offers syndicate opportunities on a wide array of racehorses.

“Sometimes partners are unsure about a claiming horse or a 2-year-old, so I tell them the pros and cons of both and let them come to a decision for themself,” Piazza explained. “To me, a claiming horse is like an unwrapped Christmas present under the tree. You pretty much know what you're going to get because it's already run, and you can see its form. The 2-year-old is like the Christmas present that's still wrapped. You're excited to see it, but you don't know what's in it, and that's what keeps us all coming back. There's something about chasing the unknown that keeps people wanting more. Often times, claiming horses simply are what they are, but you never know how good an unraced 2-year-old could be.”

Piazza teams up with agent Conor Foley of Oracle Bloodstock to scout unraced 2-year-olds.

“There are multiple things that dictate the price of a 2-year-old: how it breezes, how it bounces out, how he did it, what equipment is the horse wearing, and so on,” Piazza said. “I'll have multiple questions that I ask myself. If the horse is breezing, is it wearing a tongue tie? What kind of bit is it wearing, and I can hear its airway as it gallops by me? After the breeze, they either pass or fail. If they pass, I watch them in slow motion, making sure they are efficient in stride and then narrow it down even more from there. We ultimately narrow it down to about 100 horses that we'll go look at in person. We knock them off based off conformation and our list just gets smaller and smaller.”

In order to secure a horse at a more reasonable sale price, Piazza said he will choose horses with good conformation and an athletic demeanor over a pricier option with a more regal pedigree.

“The more boxes a horse checks, the more money that horse will cost,” Piazza said. “Our budget is limited. Ideally, you want an athlete with a pedigree, great conformation, good size and a good vet report, but I can't afford a horse with it all. So, I have to sacrifice something, sometimes more than one. I will always give on pedigree, but I can't give on the athlete. At our price points, we're looking for horses that are good movers, big strides, clear airways, good vetting, really nice conformation. We just sacrifice a little on pedigree.”

Zilla Racing Stables' top earner is the New York-bred Celtic Chaos [47-10-7-9, $751,431], a three-time stakes-winner, and the richest progeny by blue collar stallion Dublin. Celtic Chaos, a last out seventh on March 13 at Aqueduct, was recently reacquired by Zilla Racing Stables and will receive a well-earned retirement.

“We've been fortunate to have found some of those diamonds in the rough,” Piazza said. “We bought Celtic Chaos for only $55,000 and he's a stakes winner who has earned $700,000.”

Zilla Racing Stables works with a handful of trainers, including 32-year-old conditioner Ray Handal, who saddled English Soul to stakes wins in the 2018 East View at Aqueduct Racetrack and the 2018 Fleet Indian at Saratoga.

“Mike understands the game and wants to win races,” Handal said. “He is very honest and transparent, he doesn't mind taking good news or bad news, and those things always make your life easier. It speaks volumes as to why he's been so successful and runs such a good program. He also was very instrumental in boosting my training career as well.”

Handal and Zilla Racing Stables also teamed up with Kentucky-bred Dealing Justice, who recently won a first-level allowance at Churchill Downs.

“Dealing Justice was a horse who made our list, Conor's list and she was one that Ray thought was his favorite within our budget, so we all matched up on her,” Piazza recalled. “We all matched on English Soul as well and she turned out to be a multiple stakes winner.”

Zilla Racing Stables also employs reigning Eclipse Award-winning trainer Brad Cox, who conditioned Celtic Chaos to two non-consecutive scores in the John Morrissey at Saratoga, as well as six-time winner Out of Trouble, a New York-bred daughter of Into Mischief.

Piazza said working with Cox, who won the Belmont Stakes presented by NYRA Bets with Essential Quality last weekend, is a sign of the syndicate's success.

“To have a guy like Brad as one of our trainers is an absolute honor because he's selective on who he'll do business with,” Piazza said. “For him to accept our horses speaks volumes of what he thinks of us. We've been with Brad for the past few years and it's great to see him win Eclipse Awards for himself and having champion-caliber horses.”

Zilla Racing Stables has also served as a starting point for several other syndicate managers, including Blue Streak Racing's Tim McCoy.

“I've learned from Mike. I've branched out with my own connections, but whenever we chat, we'll ask each other about things. You're always learning something in this business,” McCoy said. “Mike is very hands on. He was an accountant, working full time when I met him. He's very numbers oriented and can see the big picture. He really pays attention and is always detail oriented. He makes himself accessible and I try to emulate that.”

Zilla Racing Stables currently have multiple opportunities to buy into unraced 2-year-olds. Recent $200,000 purchases at the April OBS include a First Samurai colt and a daughter of second crop sire Nyquist out of a half-sister to 2013 Canadian Horse of the Year Up With the Birds.

For more information about Zilla Racing Stables, visit https://www.zillaracingstables.com/.

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Married NY Jockeys on Way to Mutuel Uncoupling

Two months after costing New York an estimated $4.2 million in lost handle revenue during the first quarter of 2021, a bill to eliminate an antiquated state requirement that same-race mounts of married jockeys be coupled in pari-mutuel wagering has passed both the Assembly and Senate.

The New York Senate unanimously passed Bill No. A7024 June 1 by a 63-0 margin. The Assembly had passed it 147-0 on May 5.

The measure, if signed into law by the governor, would take effect immediately. It now charges racetrack operators with the responsibility for “adequately” informing the public about jockey and trainer family relations that could be perceived as conflicts of interest.

The decades-old rule was a focal point of intense scrutiny earlier this year because it affected recently married jockeys Trevor McCarthy and Katie Davis. Together, they had moved their tack from Maryland to New York after being married in December.

But when they began competing in common races at Aqueduct, it triggered the application of little-used state rule 4025.10 (f), which states, “All horses trained or ridden by a spouse, parent, issue or member of a jockey's household shall be coupled in the betting with any horse ridden by such jockey.” That meant on 41 occasions between Jan. 1 and Mar. 21, McCarthy and Davis's mounts in common races at Aqueduct necessitated a 1 and 1A coupling.

Although it's impossible to project the precise amount of handle that evaporates when a track loses a betting interest by forcing two independently owned and trained horses into a single mutuel coupling, a rough estimate of lost betting handle can be derived by multiplying Aqueduct's winter/spring per-entrant rounded handle of $103,000 by 41 to get the $4.2 million estimate.

The rule was widely criticized as being outdated and sexist, and during the first three months of 2021 it caused confusion among bettors, plus reams of bad press for Aqueduct (whose officials stated there was nothing they could do to change the law) and the New York State Gaming Commission (which did not address the controversy during any open, public meetings).

By February, Davis was claiming that Aqueduct racing office workers were pressuring trainers into not naming her on mounts, an allegation that a track spokesperson denied. She switched to accepting mounts in Maryland Apr. 8 while McCarthy continued to ride in New York.

On May 9, Davis announced on Twitter that she and McCarthy are expecting a child and she has not ridden in a race since that date. Shortly thereafter, the couple relocated to California, and McCarthy began riding at Santa Anita as of May 28.

The bill amends the state's racing, pari-mutuel wagering and breeding law by adding a new section that reads:

“Notwithstanding any law, rule or regulation to the contrary, all horses trained or ridden by a spouse, parent, issue or member of a jockey's household shall not be coupled in the betting with any horse ridden by such jockey. The racetrack operator shall take such actions as are necessary to inform the public adequately with regard to the relationship between any such jockey or trainer.”

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Saratoga to Open at Nearly Full Capacity

Saratoga Race Course will re-open to fans at near full capacity for the 2021 summer meet, NYRA announced Thursday in conjunction with Governor Andrew Cuomo. Season and weekly ticket plans for the 2021 meet, which opens July 15 and continues through Sept. 6, will go on sale June 9 at 10 a.m. at NYRA.com. Season admission passes will also be available for purchase at that time.

In order to re-open Saratoga Race Course to fans at near full capacity, NYRA will designate most sections for vaccinated fans only, including the popular Saratoga backyard. This policy aligns with current New York State guidance for large outdoor sports and entertainment venues, which allows for fully vaccinated sections to operate at full capacity without social distancing measures in place.

“The historic Saratoga Race Course is one of the Capital Region's most storied attractions, drawing over a million New Yorkers and visitors to Saratoga Springs each summer,” Gov. Cuomo said. “The racing season is quickly approaching, and this year we are excited to welcome fans back to the course with free admission on opening day for any individual who shows proof of vaccination. This is all part of New York's rebirth and resurgence as we continue to build back better and stronger from this pandemic.”

As announced today by Gov. Cuomo, all fans who show proof of vaccination via the New York State Excelsior Pass on opening day will receive free grandstand general admission. Fans from outside New York State may redeem free admission by showing their Centers for Disease Control and Prevention (CDC) COVID-19 Vaccination Record Card.

“NYRA thanks Governor Cuomo for the opportunity to welcome fans back to Saratoga Race Course for what is sure to be an unforgettable summer at the Spa,” said NYRA President & CEO Dave O'Rourke. “Thanks to the progress made in New York against COVID-19, the 2021 summer meet will be a 40-day celebration of all that makes Saratoga so special. Beyond its importance to the thoroughbred racing community and legions of passionate fans, the annual summer meet is an economic engine that creates jobs and supports the hospitality and tourism economy throughout Upstate New York. We appreciate the opportunity to open the gates at this most historic of sporting venues on July 15, and to join our fans in a collective roar of 'They're off at Saratoga.'”

Season and weekly ticket plans for reserved seats in the Clubhouse, Grandstand, The Stretch and Fourstardave Sports Bar will go on sale June 9, in addition to season admission passes.

Season passes, which are valid for vaccinated fans only, provide admission to all 40 days at Saratoga Race Course. Season passes do not include reserved seating and will be available by digital download only. Printed versions or hard copies will not be available. A Grandstand season pass is $50. A Clubhouse season pass is $75. Season passes may be purchased at NYRA.com beginning June 9. Individual tickets and tickets for other areas of Saratoga Race Course, including dining, will go on sale at a later date.

In addition to the backyard picnic area, sections that will be reserved exclusively for vaccinated fans and will operate at full capacity will include: the 1863 Club, The Stretch, Turf Terrace, Porch, Clubhouse and most of the stadium seats within the Grandstand. Under New York State guidelines, non-vaccinated children under the age of 16 will be admitted to seating and hospitality areas designated for vaccinated fans when accompanied by a vaccinated adult.

A limited number of seating areas will be available for non-vaccinated fans, who will be required to observe social distancing guidelines and to wear a facial covering at all times during their day at Saratoga Race Course.

Single-day Grandstand general admission tickets are $7 and Clubhouse general admission tickets are $10. Walk-up admission will be available daily and does not include reserved seating.

Individuals are considered fully vaccinated by the CDC/New York State 14 days or more after receiving the second dose in a two-dose series (Pfizer-BioNTech or Moderna), or 14 days or more after they have received a single-dose vaccine (Johnson & Johnson / Janssen).

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