‘Yu, yu, yu gamble racehorse?’ [Conclusion]
THIS IS the third and final chapter in my presentation of what I imagine Gene Autry’s and my bridge-playing friend, ‘Digger’, also a huge fan of betting on horses, would think of Ainsley ‘Jimmie’ Walters’ latest clumsy attack on local horse racing’s claiming system.
The notion promoted by Jimmie that claiming was introduced in North America at least partially because the British system was somehow unavailable to Americans is arrant nonsense. The US runs hundreds of handicap races every year, but these races are restricted to the higher grades, where corruption is less likely.
British handicappers aren’t inherently superior to American handicappers. Where the number of racetracks does make a difference is that in the UK, corruption in handicap races isn’t as visible because of the volume of races run. In Jamaica,
FACT: During the 1980s, promoters’ handle consistently declined in real terms. Promoters earned US$19.2 million in 1980 but only US$12.33 million in 1989 (an increase on 1984-1988). Purses suffered a similar fate as US$2.6 million (1980) became US$1.6 million (1989).
Also, the promoters’ market was constantly swamped by unfair competition from bookies allowed to leech from the tote despite contributing minimally to the product. Most industry inputs are imported and paid for in US dollars. Yet, occupational licensees and promoters earn Jamaican dollars. So management is the key.
It’s the horse racing economy, stupid!
It was a Caymanas Track Limited team headed by chairman Danny Melville (appointed 1989) who imported a new Totalisator (1990) and Chris Armond (introduced claiming in 1993 AND exotic bets subsequently copied by US) that engineered a miraculous turnaround. Purses quadrupled by 1993.
During the operation of the dreaded claiming system, sales increased from US$19.7 million
(1993) to US$69.5 million
(2001) despite exchange rate
it was endemic and excruciatingly embarrassing.
Finally, Jimmie, in a weak attempt to fend off the obvious flaw in his argument exposed by the racetrack’s bankruptcy under the handicapping system, did make one good point during a typically
garbled passage: “Supporters of claiming and condition racing will … say previous Jamaican governments had to use various measures to bail out Caymanas Park, even while handicapping and rating was being practiced … .
“However, they are either unaware or downright disingenuous to not point out that betting was either steady or grew, year over year, during handicapping and rating, and the reason why various promoting companies lost money was because of poor management, coupled with an archaic tote system, which was unable to process new betting offerings that existed elsewhere in the world.”
He’s right about one thing. The 1980s problem was mismanagement, even during an era when horse racing betting was the only game in town. Jimmie’s nostalgic look at horse racing through a roseate chimera creates an illusion of steadily increasing betting “during handicapping and rating” but is just wistful thinking. depreciation from J$25.11 to J$46.08 per US$1.00. By 2011, under new ‘management’, sales declined to US$49.9 million.
From 2011-2014, purses declined by 32 per cent (in US$). Claiming? Or management? It’s the horse racing economy, stupid!
Apart from mismanagement, the racing product suffers from government neglect as unregulated breeders sell underdeveloped yearlings to owners and their best produce is exported to Trinidad; ridiculously high commissions are paid by owners to trainers, jockeys, and grooms whether their horse wins or loses; extortionate tote takeouts remain; our fake bookmaking industry is destroyed; woefully inadequate purse structures are contemptuously offered; and marketing and promotion strategies out of Clark Gable’s “Frankly-my-dear-I-don’t-give-a-damn” playbook are proudly embraced.
It’s the horse racing economy, stupid!
Peace and love!