{"id":1281,"date":"2025-01-07T17:11:36","date_gmt":"2025-01-07T14:11:36","guid":{"rendered":"https:\/\/xxbet-company.com\/horse-racing-continues-to-decline-as-gaming-tries-to-save-dying-industry\/"},"modified":"2025-01-07T17:11:36","modified_gmt":"2025-01-07T14:11:36","slug":"horse-racing-continues-to-decline-as-gaming-tries-to-save-dying-industry","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/nb\/horse-racing-continues-to-decline-as-gaming-tries-to-save-dying-industry\/","title":{"rendered":"Horse Racing Continues to Decline, as Gaming Tries to Save Dying Industry"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Innholdsfortegnelse<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/nb\/horse-racing-continues-to-decline-as-gaming-tries-to-save-dying-industry\/#Gaming_Trying_to_Save_Industry\" title=\"Gaming Trying to Save Industry\u00a0\">Gaming Trying to Save Industry\u00a0<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/nb\/horse-racing-continues-to-decline-as-gaming-tries-to-save-dying-industry\/#Storied_Track_Shutters\" title=\"Storied Track Shutters\u00a0\">Storied Track Shutters\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<p class=\"p1\"><span class=\"s1\">The horse racing industry continues to seek a comeback. 2024 wasn\u2019t it.<\/span><\/p>\n<figure aria-describedby=\"caption-attachment-340433\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"size-post-thumbnail-858xAUTO wp-image-340433\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2025\/01\/kentucky_derby_1255057041-858x572.jpg\" alt=\"horse racing industry parimutuel wagering\" width=\"858\" height=\"572\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2025\/01\/kentucky_derby_1255057041-858x572.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2025\/01\/kentucky_derby_1255057041-430x287.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2025\/01\/kentucky_derby_1255057041-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2025\/01\/kentucky_derby_1255057041-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2025\/01\/kentucky_derby_1255057041-194x128.jpg 194w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2025\/01\/kentucky_derby_1255057041.jpg 1200w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">The horse racing industry suffered its third consecutive yearly decline in parimutuel wagering in 2024. Casinos and other forms of gaming continue to try and prop up the struggling industry. (Image: Getty)<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\">Wagering on Thoroughbred horse races in the United States declined in 2024 for a third consecutive year. Thoroughbred racing is the most popular form of the sport stateside, with the Triple Crown consisting of the Kentucky Derby, Preakness Stakes, and Belmont Stakes. Along with the three marquee races, the Grand Slam of Thoroughbred racing additionally includes the Travers Stakes and Breeders\u2019 Cup Classic.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to Ray Paulick of the<a href=\"https:\/\/paulickreport.com\/news\/the-biz\/wagering-on-u-s-thoroughbred-racing-declines-for-third-consecutive-year\" rel=\"nofollow noopener\" target=\"_blank\"><i> Paulick Report<\/i><\/a> and Equibase, the industry\u2019s official database, wagering on Thoroughbred races in the U.S. last year totaled approximately $11.26 billion. That represented a 3.35% decline from 2023 when betting exceeded $11.65 billion.<\/span><\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\"><span class=\"s1\">A dismal December for U.S. wagering on Thoroughbred horse racing put an exclamation point to the worst year for the industry since 2020, when businesses throughout the country were affected by the COVID-19 pandemic,\u201d Paulick wrote.<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">There were 2.4% fewer race days across the nation at 3,787 and the total number of races declined 2.8% to 30,852. Parimutuel wagering hit a record high in 2003 when bets totaled over $15.1 billion, or an inflation-adjusted $25.7 billion.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"Gaming_Trying_to_Save_Industry\"><\/span><span class=\"s1\"><b>Gaming Trying to Save Industry<\/b><\/span><span class=\"s1\"><b>\u00a0<\/b><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Several states, including Massachusetts, New York, and Pennsylvania, direct substantial tax revenue generated by their commercial casinos to their horse racing industries. <\/span><\/p>\n<div class=\"callout\">\n<p class=\"p1\"><span class=\"s1\">In Pennsylvania, casinos have subsidized horsemen to the tune of more than $4 billion since the first slot machines were turned on in the commonwealth in 2004. <\/span><span class=\"s1\">Nebraska is taking a page out of Pennsylvania\u2019s playbook in hopes of saving its own horse racing market. In 2020, Nebraskans approved a statewide ballot referendum authorizing racetrack casinos with slot machines, table games, and sports betting.<\/span><\/p>\n<\/div>\n<p class=\"p1\"><span class=\"s1\">While most of the state tax benefit will be used for property tax relief, the thinking is that casinos will bring back patrons to Nebraska racetracks. Several of the casinos are building <a href=\"https:\/\/www.casino.org\/news\/casino-planned-for-south-sioux-city-near-former-atokad-downs\/\" rel=\"nofollow noopener\" target=\"_blank\">new racecourses<\/a> and grandstands in part of their resort destinations.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In Virginia, lawmakers in 2018 legalized historical horse racing (HHR) machines, slot-like terminals that are actually parimutuel wagering devices. The gaming expansion saved the Colonial Downs Racetrack, with players wagering more than $4 billion annually on the machines.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">HHR has found favor in recent years in other states that have parimutuel betting but not commercial casinos, including Kentucky and <a href=\"https:\/\/www.casino.org\/news\/wind-creek-hospitality-buying-birmingham-racecourse-casino\/\" rel=\"nofollow noopener\" target=\"_blank\">Alabama<\/a>. But while the gaming benefit allowed horse racing purses nationwide to tick upwards in 2024 to over $1.3 billion, an increase of about a half-percent, the Equibase data shows that casino gamblers aren\u2019t being converted to horse racing bettors.<\/span><span class=\"s1\"> Recent scandals, including one involving <a href=\"https:\/\/www.casino.org\/news\/bob-baffert-takes-responsibility-for-medina-spirit-drug-test\/\" rel=\"nofollow noopener\" target=\"_blank\">legendary trainer Bob Baffert<\/a>, certainly haven\u2019t helped.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"Storied_Track_Shutters\"><\/span><span class=\"s1\"><b>Storied Track Shutters<\/b><\/span><span class=\"s1\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">As <i>Casino.org<\/i> reported last fall, New Jersey\u2019s <a href=\"https:\/\/www.casino.org\/news\/pennsylvania-casino-owners-to-shutter-oldest-racecourse\/\" rel=\"nofollow noopener\" target=\"_blank\">Freehold Raceway officially closed<\/a> on Dec. 28. Considered the oldest horse racetrack in the country, Freehold traced its roots to the 1830s. Harness racing became the half-mile dirt oval\u2019s staple race in 1854.<\/span><\/p>\n<p class=\"p1\"><strong><span class=\"s1\">Penn Entertainment and Greenwood Gaming and Entertainment jointly owned freehold. Penn operates four casinos in Pennsylvania \u2014 Hollywood Casino at Penn National Race Course, Hollywood Casino York, Hollywood Casino Morgantown, and Hollywood Casino at The Meadows. Greenwood owns and operates Parx.<\/span><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">Penn Entertainment began as a horse racing company and continues to own the Penn National Race Course. \u00a0<\/span><\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/horse-racing-continues-to-decline\/\" rel=\"nofollow noopener\" target=\"_blank\">Horse Racing Continues to Decline, as Gaming Tries to Save Dying Industry<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\" rel=\"nofollow noopener\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>The horse racing industry continues to seek a comeback. 2024 wasn\u2019t it. The horse racing industry suffered its third consecutive yearly decline in parimutuel wagering in 2024. Casinos and other forms of gaming continue to try and prop up the struggling industry. (Image: Getty) Wagering on Thoroughbred horse races in the United States declined in <a href=\"https:\/\/xxbet-company.com\/nb\/horse-racing-continues-to-decline-as-gaming-tries-to-save-dying-industry\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":1282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/1281"}],"collection":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/comments?post=1281"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/posts\/1281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media\/1282"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/media?parent=1281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/categories?post=1281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/nb\/wp-json\/wp\/v2\/tags?post=1281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}