The partnership will power the stateside launch of bet365's Advance Deposit Wagering on horse racing, across web and mobile app channels, in U.S. jurisdictions where ADW is accepted.

“This is a tremendous opportunity to partner with one of the premier brands in sports betting and for 1/ST BET to showcase its best-in-class pari-mutuel horse racing wagering experience to bet365's customers,” said Keith Johnson, Chief Revenue Officer, 1/ST TECHNOLOGY.

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Outside of the COVID year of 2020, this was the steepest decline based on percentage of handle since 2011. A total of $11,658,624,859 was wagered in 2023.

“I think we got quite a blip coming out of the pandemic when we were the only game in town,” said Marshall Gramm, an economics professor, horseplayer and the managing partner of Ten Strike Stable. “Now, I think we are feeling the real competition from sports betting. It's proliferated everywhere and at such a cheaper price point. Then we have small field sizes and the quality of the product is deteriorating. A lot of things have come together. The game is getting ever tougher for the real hardcore weekend warriors who would handle a couple hundred thousand to a million a year. They're finding this market to be a lot tougher. It's shark eats shark out there.”

In a surprising development, U.S. purses fell from $1,309,888,791 to $1,305,772,102, for a decline of .31 percent. With so much money being funneled into purses accounts from alternative forms of gambling, purses rose by 35.8% in 2021, the year after COVID. They were up 10.9 percent in 2022. With the casino market pretty saturated in this country, massive year-over-year increases in purses may be a thing of the past.

There was a reduction of 5.48% in the category of U.S. Race Days and a dip of 3.34 percent in U.S. starts.

In a somewhat encouraging development, the average field size actually showed a slight increase from 7.3 to 7.43.

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2023 was certainly a year of many challenges for the Thoroughbred industry. Much has been written and spoken about the issues we face, although very little action has taken place.

As we enter 2024, I believe it is imperative we make meaningful efforts to improve our sport. Every component of the industry must pledge to do a better job. We must find common ground and set aside our egos.

We must commit (at a minimum) to the following actions as an industry:

1) Establish a public relations plan that: (a) provides a spokesperson to speak for our industry in times of crisis; and (b) addresses the issues and concerns regarding equine safety and aftercare. This will require resources-money!

A new initiative, LIGHT UP RACING, is being launched to address these issues and Fasig-Tipton is committing $50,000 for the initial launch and proof of concept for this initiative. In addition, we will commit $200,000 over the next three years to support organized industry efforts regarding public relations.

2) Implement a plan to utilize wearable technology and install PET scan machines at major racetracks. We have no choice but to embrace these concepts and work together to provide these as cost effectively as possible.

Fasig-Tipton has no financial stake or interests in any providers/vendors of these products; however, we are willing to commit to an investment/expenditure of $250,000 over the next three years to assist in these efforts if joined by other industry interests.

3) Improve our betting product. On Christmas Day, my three sons-in-law and two of my daughters were wagering modest sums on NBA and NFL games in progress.

They wanted action and engagement and were easily able to make understandable wagers on their phones. They could bet on a team, the number of touchdowns, who would make three-point shots, etc. and try for parlays that would produce significant payouts.

Relevant statistical data is available for FREE to encourage participation. The gambling world has exploded–yet our game has not.

We have many extraordinarily talented and successful people involved in our great sport. In addition, we have institutions and organizations with significant financial resources that must make investments today for the good of tomorrow.

I urge the Breeders' Cup, The Jockey Club, HISA, racetracks, stallion farms, sales companies, owners, breeders and trainers to make a commitment of both talent and resources to invest in our future before it is too late.

–Boyd Browning, President & Chief Executive Officer, Fasig-Tipton Co.

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In 2023, a total of 1,180 races were contested over 128 dates of racing compared to 1,198 races over 132 dates in 2022. Woodbine ran four less dates and 18 less races in 2023 due to an unprecedented number of cancelled race cards (five) because of extreme heat and poor air quality caused by smoke from forest fires across Canada. The average field size for those races was 8.2, the same as 2022, and above the industry average.

In Ontario, wagering on Woodbine Thoroughbred racing by customers across the province was down 6.2% ($81.8 million this season vs $87.2 million in 2022).

The decline in home market wagering was partially mitigated by a foreign market handle of $512 million, a decrease from $515 million in 2022, though still a remarkable gain from the previous record of $420 million in 2021. The $512 million in foreign market handle was supported by a strong U.S. dollar.

The average handle per race in 2023 was a record $519,597. This is an increase of $580 per race from 2022.

To address the increased competition from an emerging licensed sports betting market, Woodbine Entertainment announced a partnership with global sports betting leader bet365 prior to The King's Plate.

“We are operating on a very solid foundation that positions us well to manage the current industry and economic trends,” said Michael Copeland, CEO, Woodbine Entertainment. “We also have opportunities before us that have not been fully realized yet, like the integration of racing into licensed sportsbooks, which will have a positive impact.”

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Other dignitaries expected to be in attendance include Louisville Mayor Craig Greenberg and the First Lady of Louisville Rachel Greenberg; Ray A. Perry, Secretary, Kentucky Public Protection Cabinet; Jonathan Rabinowitz, Chairman, Kentucky Horse Racing Commission; Representative Al Gentry; and Cleo Battle, President & CEO of Louisville Tourism.

Area sports celebrities Darrell Griffith, Bobby Perry, Dale Romans, Will Wolford and Eric Wood are expected to be on hand as well.

The Churchill Downs Race & Sports Book is located in the remodeled Aristides Lounge on the second floor of the track's Clubhouse. The 8,755 sq. ft. space showcases a massive TV wall, including a new 7′ x 24′ LED video screen and a dozen 90″ televisions. The large area has an additional 16 large-format TVs for sports and horse racing, 15 sports betting kiosks, seven horse betting kiosks, six betting windows with tellers, a bar and seating for more than 280 guests.

The Churchill Downs Race & Sports Book will be open to the general public Thursday at 11 a.m. and betting will continue until 11:30 p.m. Guests must be at least 18 years old to wager and enter the Churchill Downs Race & Sports Book.

Online sports betting in Kentucky will begin Sept. 28. Churchill Downs Incorporated has partnered with FanDuel, Penn Sports Interactive and Fanatics as its three online sports wagering service providers.

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CDI will operate Race and Sports Books at its racetracks and Historical Racing Machine (HRM) facilities in Kentucky which include:

• Churchill Downs Racetrack: 15 sports betting kiosks, 168 sq. ft. video screen, 20 large format televisions;
• Derby City Gaming & Hotel: 15 sports betting kiosks, 300 sq. ft. video screen, 12 large format televisions;
• Ellis Park Racing & Gaming: 5 sports betting kiosks;
• Newport Racing & Gaming: 10 sports betting kiosks, 20 large format televisions;
• Oak Grove Racing, Gaming & Hotel: 20 sports betting kiosks, 300 sq. ft. video screen, 8 large format televisions;
• Turfway Park Racing & Gaming: 15 sports betting kiosks, 300 sq. ft. video screen, 16 large format televisions.

CDI's new sports betting kiosks will be located among existing bar and simulcast areas for guests to place wagers. Each of CDI's HRM venues will implement a “Bet & Jet” feature that offers guests designated parking spaces for 15 minutes in order to quickly and easily place their in-person sports wager.

“CDI is excited to bring our experience operating retail sports wagering experiences to Kentucky with many thanks to the Kentucky General Assembly, Governor Beshear, the KHRC and the Kentucky Public Protection Cabinet for their efforts in making this a reality,” said Bill Carstanjen, CEO of CDI,”

In addition to retail sports betting, the KHRC also approved temporary licenses for three online sports wagering service providers that will operate in partnership with CDI's racetracks: FanDuel, Penn Sports Interactive and Fanatics. Approved service providers can begin accepting online wagers on Thursday, Sept. 28.

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“This a great day for Ontario sports bettors and especially for the horse racing industry in the province,” said Jim Lawson, CEO, Woodbine Entertainment. “For over a year, we have been working hard with regulators, government agencies and our partners at bet365 to develop the technology and satisfy all requirements to allow players to access pari-mutuel horse racing betting products using accounts with legal gaming operators in Ontario with the customer experience at the forefront. Betting on horse racing in Ontario is now on its way to becoming more accessible than ever.”

In addition, Woodbine Entertainment and bet365 created a four-year marketing partnership, in which the latter receives naming rights for the apron winner's circle, inner turf course and paddock. Additionally, bet365 will have naming rights for stakes races throughout the year.

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A list of approved retail facilities and mobile applications will be released Aug. 22, following the Kentucky Horse Racing Commission (KHRC) meeting.

“The countdown is on. We are just three weeks away from sports wagering in Kentucky,” said Gov. Beshear. “We are ready to deliver the quality entertainment experience Kentuckians asked for, while bringing money to the state to support pensions and free up funds that can be used to build a better Kentucky.”

Sports Betting Timeline:

Tuesday, Aug. 22, at 1:30 p.m. EDT: KHRC will meet to vote on license applications. This vote will determine which retail facilities and mobile applications will be approved for use in Kentucky.

Monday, Aug. 28, at 6 a.m. EDT: Kentuckians can pre-register an account with approved mobile applications. Allowing pre-registration eases strains on electronic systems that can sometimes happen when many people try to register at once.

Thursday, Sept. 7, at 10 a.m. EDT: Wagerers can place an in-person bet at licensed retail facilities.

Thursday, Sept. 7, at 6 a.m. EDT: Wagerers can only deposit money into their pre-registered account with approved mobile applications.

Thursday, Sept. 28, at 6 a.m. EDT: Approved mobile applications can start taking wagers.
Kentucky chose a tiered implementation, which has been used in multiple states and which allows for testing of policies and procedures before the full rollout that includes mobile applications.

“The KHRC is excited to open sports wagering and is working efficiently to meet the necessary deadlines. This is a careful process dedicated to wagering integrity and protecting bettors in the state of Kentucky,” said Kentucky Horse Racing Commission Chairman Jonathan Rabinowitz.

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Online sports wagering, which is expected to eventually account for 90% of an estimated $23 million in sports betting tax and licensing revenues for the state, will be rolled out Sept. 28.

Those dates were confirmed at Monday's Kentucky Horse Racing Commission (KHRC) meeting at The Red Mile in Lexington, at which the commission unanimously voted in both “emergency” and “ordinary” sports betting regulations.

The emergency regulations will allow the state's tracks to apply for sports betting permits and get up and running by the start of the lucrative football season, while the ordinary regulations will go through a public comment and revision process and will eventually replace the set of emergency rules.

By Kentucky law, sports gambling must be done through the state's licensed tracks, which are allowed to partner with up to three sportsbooks each. The brick-and-mortar permit can be applied to either a track's main location or a licensed satellite facility.

Unlike Kentucky's historical horse race gaming and simulcasting, which both by statute guarantee a revenue stream for horse racing purses, sports betting provides no such direct boost.

In lieu of getting a direct cut of booking sports wagers, Kentucky horsemen will be banking on the potential benefit from crossover opportunities that could convert sports bettors into horseplayers.

With a law signed Mar. 31, Kentucky becomes the 37th state to have legal sports betting.

Six of the seven states bordering Kentucky already take wagers on sports.

The law allows Kentucky tracks to be licensed as sports betting facilities for a $500,000 initial fee and an annual renewal of $50,000.

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Caesars also announced plans to open Central Kentucky's only brick-and-mortar retail sportsbook locations, subject to regulatory approvals from the Kentucky Horse Racing Commission.

“Keeneland and Red Mile are iconic horse racing venues with an important legacy in the state of Kentucky,” Eric Hession, President of Caesars Digital, said. “Customers in the region have long enjoyed our world-class Caesars destinations and, most recently, our horse racing wagering app, Caesars Racebook. Working with these historic institutions provides an unmatched opportunity to reach sports and racing fans in the state, and we look forward to working with the Kentucky Horse Racing Commission as we prepare to launch later this year.”

Keeneland President and CEO Shannon Arvin said, “Keeneland's venture with Caesars Sportsbook holds exciting potential and furthers our mission to introduce new audiences to horse racing. Caesars is a globally respected brand, and we value their commitment to racing and their expertise in sports wagering.”

Red Mile Chief Operating Officer Shannon Cobb commented, “At Red Mile Gaming & Racing we are excited to continue introducing this historic harness track to new audiences. Opportunities with sports wagering on site, added to live racing, simulcasting, and HHR Games accomplish goals we have worked toward for several years. Our relationships with Keeneland and Caesars in this venture could not be more valued.”

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