Howard Hamilton
Last week we looked at the early beginning of the thoroughbred racing industry. This week we continue to look at the growth of the industry and the development of the authorities to regulate racing both here and abroad
IN THE early 1900s racing in the United States was almost wiped out by anti-gambling sentiment that led almost all states to ban bookmaking. By 1908 the number of tracks had plummeted to just 25.
That same year, however, the introduction of pari-mutuel betting for the Kentucky Derby signalled a turnabout for the sport. More tracks opened as many state legislatures agreed to legalise pari-mutuel betting in exchange for a share of the money wagered.
At the end of World War I, prosperity and great horses like Man O' War brought spectators flocking to racetracks. The sport prospered until World War 11, declined in popularity during the 1950s and 1960s, then enjoyed resurgence in the 1970s triggered by the immense popularity of great horses such as Secretariat, Seattle Slew, and Affirmed, each winners of the American Triple Crown.
SIGNIFICANT DECLINE
During the late 1980s, another significant decline occurred, however. This follows almost a similar situation in Jamaica with the 1980s being our worst period, filled with controversy and frequent interruption of racing culminating with the hurricane of 1988.
Although science has been unable to come up with any breeding system that guarantees the birth of a champion, breeders over the centuries have produced an increasingly higher percentage of Thoroughbreds who are successful on the race track by following two basic principles. The first is that Thoroughbreds with superior racing ability are more likely to produce offspring with superior racing ability.
The second is that horses with certain pedigrees are more likely to pass along their racing ability to their offspring.
Male thoroughbreds (stallions) have the highest breeding value because they can mate with about 40 or more mares a year.
FOALS FOR SALE
Farms that produce foals for sale at auction are called commercial breeders. The most successful breeding farms in Jamaica are Orange Valley Estates in Trelawny, Y.S. (1955) Ltd. in St. Elizabeth, H.A.M. Stables in St. Catherine, Bombay Stud Farm in St. Catherine and a number of smaller breeders i.e. LakeLand Farms, Sun Valley, Mercedez Stud & Stables et al.
Wagering on the outcome of horse races has been an integral part of the appeal of the sport since prehistory and today is the sole reason horse racing has survived as a major professional sport. All betting at the track today is done under the pari-mutuel wagering system, which was developed by a Frenchman named Pierre Oller in the late 19th century. Under this system, a fixed percentage (14 per cent - 30 per cent) of the total amount wagered is taken out for track operating expenses, racing purses, and taxes.
The remaining sum is divided by the number of individual wagers to determine the payoff, or return on each bet. The projected payoff, or "odds" are continuously calculated by the track's computers and posted on the track odds board during the betting period before each race. Odds of "2-1," for example, mean that the bettor will receive $40 profit for every $20 wagered if his or her horse wins.
At all tracks bettors may wager on a horse to win (finish first), place (finish first, second, or third). Other popular wagers are the rolling triple (picking the winners of three consecutive races), exactas (picking the first and second horses in order), quinellas (picking the first and second horses in either order), and the pick six (picking the winners of six consecutive races).
PICK SIX WAGER
We have recently introduced an extension of the pick six wager - the pick nine, which is becoming increasingly popular.
The difficult art of predicting the winner of a horse race is called handicapping. The process of handicapping involves evaluating the demonstrated abilities of a horse in light of the conditions under which it will be racing on a given day. To gauge these abilities, handicappers use past performances detailed published records or preceding races. These past performances indicate the horse's speed, its ability to win, and whether the performances tend to be getting better or worse.
The conditions under which the horse will be racing include the quality of the competition in the race, the distance of the race, and the current state of the racing surface (fast, sloppy, and so on). The term handicapping also has a related but somewhat different meaning: in some races, varying amounts of extra weight are assigned to horses based on age or ability in order to equalise the field.
I thrust that this further insight into the history and intricacy of thoroughbreds will enlighten the knowledge of racing fans and increase their interest into the sport.
Howard L. Hamilton, C.D, J.P. is a former chairman of Caymanas Track Limited. He is the current president of Thoroughbred Owners and Breeder's Association. He can be contacted at howham@cwjamaica.com.
