Rain free fall meet at Keeneland sure was a winning bet
By Stu Johnson
November 7, 2024 at 6:04 AM EST
Keeneland remains a busy spot in the fall of each year. The November Breeding Stock Sale just got underway in Lexington. The historic horse racing track is also recognizing record gambling activity.
The October Fall Meet registered record all-sources wagering at $210 million. That’s on and off-track betting in all forms, from the betting window to a cell phone. Jim Goodman is the director of mutuels at Keeneland. The 17-day meet was rain-free. That helps boost betting, but Goodman says it’s more than just more people. Rain means taking horses off the grass, lessening the field.
“Because those horses that want to run on the turf don’t have any form on the dirt. So, if you take a 12-horse field and cut it to eight, you’re cutting your handle by at least 50%,” said Goodman.
That’s the amount of money wagered on a race. Goodman said everything economically depends on the weather and the quality of the racing, so it was a “perfect storm” this fall.
Goodman noted the legalization of sports wagering hasn’t taken a bite out of betting on races. Goodman added there’s some cross-marketing, hoping to get people at the Red Mile, for instance, betting on sports.
“We have horse races up there every day and we have betting machines there so we’re trying to cross-market to those people but there’s a limited amount of cross-marketing. Young people, young guys in particular, are into sports wagering and we need to get those people into horse racing and we’re trying to work on that,” said Goodman.
Goodman said he doesn’t see it as a negative impact at all. The director of mutuels said betting is up the last two years at Keeneland, Churchill Downs, Ellis Park, Turfway, and Kentucky Downs.
** WEKU is working hard to be a leading source for public service, and fact-based journalism. Monthly supporters are the top funding source for this growing nonprofit news organization. Please join others in your community who support WEKU by making your donation.
The October Fall Meet registered record all-sources wagering at $210 million. That’s on and off-track betting in all forms, from the betting window to a cell phone. Jim Goodman is the director of mutuels at Keeneland. The 17-day meet was rain-free. That helps boost betting, but Goodman says it’s more than just more people. Rain means taking horses off the grass, lessening the field.
“Because those horses that want to run on the turf don’t have any form on the dirt. So, if you take a 12-horse field and cut it to eight, you’re cutting your handle by at least 50%,” said Goodman.
That’s the amount of money wagered on a race. Goodman said everything economically depends on the weather and the quality of the racing, so it was a “perfect storm” this fall.
Goodman noted the legalization of sports wagering hasn’t taken a bite out of betting on races. Goodman added there’s some cross-marketing, hoping to get people at the Red Mile, for instance, betting on sports.
“We have horse races up there every day and we have betting machines there so we’re trying to cross-market to those people but there’s a limited amount of cross-marketing. Young people, young guys in particular, are into sports wagering and we need to get those people into horse racing and we’re trying to work on that,” said Goodman.
Goodman said he doesn’t see it as a negative impact at all. The director of mutuels said betting is up the last two years at Keeneland, Churchill Downs, Ellis Park, Turfway, and Kentucky Downs.
** WEKU is working hard to be a leading source for public service, and fact-based journalism. Monthly supporters are the top funding source for this growing nonprofit news organization. Please join others in your community who support WEKU by making your donation.