Churchill Downs handle down despite minimal changes to field size
As trainers and owners move horses from Kentucky to New York to cash in on the increased purse size at New York tracks, Churchill Downs is suffering a loss of handle at a rate higher than the decrease in field size, reports the Daily Racing Form. Officials expected field sizes at Churchill Downs to decrease with the exodus of horses, but field size has only dropped an average of 4.5 percent compared to 2011. Total handle since the Kentucky Derby has dropped 14.4 percent since last year.
One factor that could be contributing to the decreased handle is the percentage of favorites winning races. Favorites win an average of 32 percent of the time nationally. At Churchill Downs, they are winning 40 percent of the time. For example, on the Thursday, May 10 card, six favorites won and three of those six went off at odds of 2-5 or lower. The rate reduces the amount of money people are willing to bet, writes the DRF.
Marty Maline, executive director of the Kentucky Horsemen's Benevolent and Protective agency, said: "If you look at New York now, it's like Kentucky east. We've lost our quality, and now we've got these fields that have prohibitive favorites because all the quality ones are elsewhere."
