Wandering Eyes

Incentives are the hidden foundations of global racing. Ownership incentives are the reason why one in every 244 Australians is a racehorse owner. Stallion tax incentives are the reason why the Irish stallion industry grew to be a world leader. Betting incentives are the reason why the Hong Kong Jockey Club is the largest taxpayer in Hong Kong, as well as, admirably, the largest community benefactor. Want to know what levers to pull to help our sport? Examining incentives is the answer. We now are in an era where sports betting has been legalised in the U.S. and fixed odds betting terminals stakes have been reduced in the UK. With this potential decrease in racing revenues we must learn to do more with less as an imperative to the survival of our industry. Racing can’t just ensure it has incentives, we must incentivize the right people in the right areas with the right amount. Our primary incentive has traditionally been prize money. Carefully managed, the current financial resources can generate more returns and more importantly, more impactful societal change. In Silicon Valley, support was not being given to female-led start-ups. This led innovator Anu Duggal to found the Female Founders Fund which supports a generation of talented women that are building businesses. These women-led businesses have flourished and provided excellent returns allowing for support for another cohort of female entrepreneurs. Racing doesn’t have to accept its current financial proposition of prize money for performance as the only medium in which we reward investment in our industry. If we want prize money to incentivise future investment, we need to reflect on how we allocate prize money today. Horse owners are rewarded in two ways on the racecourse: prize money and capital appreciation. The current allocation system fails to acknowledge the latter. Does an increase in prize money of a Group 1 race have a corresponding impact on the talent it attracts? It’s doubtful that beyond the multi-million prize money races, that trainers are making decisions based on prize money when entering the uppermost echelon of our sport. They make these decisions hoping to enhance asset value. Racing jurisdictions should focus on increasing the minimum values of each type of race. This will provide more effective support to the grassroots where the capital appreciation effect of a win isn’t as profound, but the horse still needs to pay its way. This approach doesn’t need to be a celebration of mediocrity. Maidens deserve more support. A maiden is the very first pay out that a horse owner receives. The immediacy of that centres a buyer’s mind. If you buy a yearling and win a 40k maiden, the windfall could be a huge dent in outlay fostering further investment. We should develop our bonus initiatives but not lose sight of what we’re trying to create–a more exciting return for a wider proportion of talented racehorses that deserve that reward. An industry-backed Racing Venture Fund could redefine the incentives to having a horse in training. According to the International Federation of Horseracing Authorities, prize money for racing globally is currently €3.6-billion. And yet, we’ve never seen a creative redirection of that massive resource outside further prize money initiatives. A Racing Venture Fund, just like the Female Founders Found, could set the parameters of issues it wants to support–more turf horses in the U.S., more National Hunt mares in UK and Ireland or more stayers in Australia. Buying groups could then apply for support contingent on them adhering to the criteria around purchase. The buyer could then be rewarded with a credit against sales price or perhaps staged payments against training fees (which would help trainers provide a better value offering without incurring further financial hardship). In return, the fund would receive a share of the horse which could generate further returns to tackle the issues. A Venture Fund doesn’t need to be limited to the racecourse. It could provide investment in a riding school trying to get off the ground that uses Thoroughbreds, widening the net of safe rehoming options. It could support tech starts-up looking to improve equine health but have costly initial research and developments cost. The capital costs of racing are massive, this venture fund can lessen the barriers to entry that some face and grow the pie for everyone. Incentives can be gimmicky, and an important line needs to be followed that they meet our best interests. There is no point in starting a Venture Fund if that fund will be manipulated by participants before walking away. We also can’t redirect our prize money to such an extent that it would alienate our biggest investors. However, we must explore and nuance our offering to the modern age to get the best out of what we have in our wonderful sport. So how can racing still pack a bigger punch while avoiding the gimmicks? Perhaps we need to forget about a punch and a simple nudge will do. Developed by Professor Richard Thaler (who won a Nobel Prize for his insights), nudge economic theory suggests consumer behaviour can be incentivised by small suggestions and positive reinforcements. Using nudge theory, the UK government recently circulated letters informing taxpayers that nine out of 10 people in their area pay their taxes on time, and as a result on-time tax payments increased by at least 15% in every area targeted. A taxpayer, in such a simple and clever way, feels incentivised to comply so as to adhere to social norms in their area. Racing should look to provide nudges of its own. A buyer at the sales could be told that upon buying their first horse at the sales they’ll receive discounted sales commissions for their next horse purchase as a thank you. A racegoer could be encouraged to bring their friends by sending them a discount code ahead of their birthday to come racing. A breeder could be influenced to breed to a staying stallion by reminding them that there are 50% more stakes races for horses over middle distances than sprint distances in their country. Small, inexpensive steps, but all that could lead to big results for our game. Our sport is driven by an irrational dream, that the yearling we buy will win the Kentucky Derby. That the first-season stallion we picked out is the next Snitzel. That the filly we bred is going to win the Queen Mary. Our trust in that irrationality shouldn’t prevent us from providing a better return on investment for those dreamers. Incentives can act as signposts as to how we direct the wonderful journey on which a racehorse can you bring you. We know where our levers are, it’s time we figured out how to pull them. View the full article

Paul O’Sullivan is hopeful the progressive Sacred Ibis will return next season as a better horse after the four-year-old scored an impressive victory in the Class Three California Memory Handicap (1,400m). After Class Four wins at start two and three, Sacred Ibis took time to find his groove in Class Three but O’Sullivan says an 11-week break proved just the tonic. “The two previous starts he just started to tail out and I said to the guys ‘this could become a nasty... View the full article

Tommy Berry admits he lay awake at night expecting to be punted off Pakistan Star ahead of the Group One Standard Chartered Champions & Chater Cup. Heading into the meeting with just 13 winners for the season – the most recent on March 25 – the 27-year-old wasn’t sure he would have put himself on if he was making the decision. But the show of faith from trainer Tony Cruz and owner Kerm Din was rewarded tenfold with a perfect ride as Pakistan Star emphatically accounted for... View the full article

Fresh off his Group One double in Singapore on Saturday, Zac Purton continued his golden run with victory aboard Winner’s Way in the Group Three Sha Tin Vase (1,200m) on Sunday. Purton delivered the “perfect” ride after Winner’s Way was a touch slow away and settled seventh in the field of eight, following the rail before pulling out at the 300m and booting to the front. For trainer Tony Cruz, Purton’s touch was crucial after Winner’s Way struggled to seventh... View the full article

Jockey Julio Felix recorded the 3,000th win of his career in a photo finish aboard Ragnar Korthase's Carnoustie on May 25 at Arlington International Racecourse. View the full article

In his seventh season of racing, Adam Staple and Jalin Stable's hard-hitting Page McKenney showed the same determination that has brought him back year after year. View the full article

Kenjisstorm found a perfect trip behind the speedy What a View and inherited the lead turning for home, but Itsinthepost surged by in the final sixteenth to win by 1 1/4 lengths. View the full article

Carlos H. Marquez, Jr. notched his 3,000th victory in North America when he guided Savemethelastdance to a two-length score in the seventh race May 26 at Arlington International Racecourse. View the full article

The Jersey Shore is known for bringing out the wild side in some. For Money Multiplier, a venture to the area has once against brought out his winning side. View the full article

American Post gelding now has seven grade 2 victories. View the full article

Rusty Arnold contemplated shipping Miss Kentucky out of town for her next stakes try. Instead, the venerable trainer opted to keep the hometown girl in her own backyard—and she responded by delivering her most impressive outing yet. View the full article

DP Racing's Sophie P (GB) figured to take a step forward in her second U.S. start, but a win in the $300,000 Gamely Stakes (G1T) May 26 was a leap. View the full article

SOPHIE P (GB) (m, 5, Bushranger {Ire}-Fountains Abbey, by Giant’s Causeway), sixth in the GII Royal Heroine Mile S. in her U.S. debut in April, came with a late flourish to out-bob Madam Dancealot (Ire) (Sire Prancealot {Ire}) and nab a lucrative Grade I. Pacesetter Madam Stripes (Arg) (Equal Stripes {Arg}) settled for third, while even-money choice Hawksmoor (Ire) (Azamour {Ire}) could only manage fifth after a very tardy start. Previously based in Great Britain with trainer Mike Smith, Sophie P took a pair of Musselburgh handicaps last October within eight days of each other before selling for 160,000gns at Tattersalls December. Lifetime Record: 21-5-5-1. O-DP Racing. B-New Hall Stud (GB). T-James Cassidy. View the full article

Rusty Arnold contemplated shipping Miss Kentucky out of town for her next stakes try. Instead, the venerable trainer opted to keep the hometown girl in her own backyard—and she responded by delivering her most impressive outing yet. View the full article

Are You Kidding Me split horses with a commanding move May 26 in the $175,000 Eclipse Stakes (G2) at Woodbine, then held off a late run from Melmich to secure his third victory in the 1 1/16-mile Tapeta race. View the full article

The way the $500,000 Gold Cup at Santa Anita (G1) was playing out, Hronis Racing's Accelerate was either going to run into trouble or run away. View the full article

ACCELERATE (h, 5, Lookin At Lucky-Issues, by Awesome Again), a romping winner of the GI Santa Anita H. over this track and trip Mar. 10, settled for second behind race favorite City of Light (Quality Road) in the GII Oaklawn H. Apr. 14, but turned the tables on that one and the rest of his foes here to post a convincing success. Settled in just off an honest pace, the 9-5 shot proved much too much for his competition to handle, as he powered away in the lane by about four lengths in 2:01.38. Pacesetter Dr. Dorr (Lookin At Lucky) completed an exacta for his sire, while City of Light faded a bit late to settle for third. Sales history: $380,000 yrl ’14 KEESEP. Lifetime Record: 19-7-5-5. O-Hronis Racing LLC. B-Mike Abraham (Ky). T-John Sadler. View the full article

Belvoir Bay has proven most adept over the downhill course at Santa Anita Park, and she will return to the venue May 28 against nine other rivals in the $200,000 Monrovia Stakes (G2T) going about 6 1/2 furlongs. View the full article

Phoenix Thoroughbred Limited's Gronkowski put in his first work for trainer Chad Brown May 26, when he went four furlongs in :47.99 over Belmont Park's main track in preparation for the June 9 Belmont Stakes (G1). View the full article

Southern Legend (AUS) romped home by three lengths in the Kranji Mile (G1), followed by fellow traveler Horse of Fortune (SAF). View the full article

Coolmore runners headline both top-level contests at the Curragh May 27, with Cliffs Of Moher (IRE) facing four rivals in the Tattersalls Gold Cup (G1) before Happily (IRE) squares off against 12 in the Tattersalls Irish One Thousand Guineas (G1). View the full article

Phoenix Thoroughbreds’ GI Belmont S. hopeful Gronkowski (Lonhro {Aus}) put in his first work for new trainer Chad Brown over Big Sandy Saturday, going a half-mile in company with GII Woody Stephens S. contender Engage (Into Mischief) in :47.99 (3/35) (video). “He breezed great. It was his first work for us,” Brown said. “We gave him a couple of weeks to acclimate over here and get used to the main track, and it went better than expected.” With jockey Jose Ortiz in the irons, Gronkowski registered splits of :24 2/5 and :47 4/5, galloping out in 1:00 1/5, according to the NYRA clockers. “[Jose] was very pleased,” Brown said. “It just worked out today that he could come out and work him. He gave me some really good feedback that was positive and helpful for me.” Beginning his career in Europe, Gronkowski won his last four starts for previous trainer Jeremy Noseda, most recently taking the Burradon S. at Newcastle Mar. 30. That win earned him a spot in the gate for the GI Kentucky Derby, but he was forced to miss that race due to a minor infection. His connections opted to reroute him to the Triple Crown’s final leg and place him under Brown’s care. “Not having had the horse very long, I’m limited to what I can do and what kind of training regimen I can set up,” Brown said. “Based on this unique situation, I set up a plan that I feel is fair to try and get him to the race if he’s fit enough and good enough.” The trainer continued, “It takes a special horse to get there, and based on what I saw [Saturday], he looked good out there. I’m excited to see what he does next weekend. He came to me in outstanding condition. He’s a very sound and easy to transition into what we’re doing here. The horse is smart and all class, he has [the] true signs of a really good racehorse.” GIII Peter Pan S. winner Blended Citizen (Proud Citizen) also worked in preparation for the Belmont Saturday, breezing a best-of-35 half-mile in :47.55 in Elmont (video). With trainer Nick Esler at the controls, the Doug O’Neill pupil clocked splits of :12 3/5 and :25 with a five-panel gallop out in 1:00 flat and six furlongs in 1:13. “He’s always worked well on the dirt,” O’Neill said. “I think the blinkers helped him focus and not run immaturely or spotty. The blinkers also helped the rider place him in his races easier [and have] more early speed away from the gate.” View the full article

ParisLongchamp’s G2 Prix Vicomtesse Vigier on Sunday has attracted anyone who is anyone on the stayers’ scene in France, with Vazirabad (Fr) (Manduro {Ger}) not short on elite company as he bids for a third consecutive renewal of this prize which he has previously garnered at Chantilly. His Highness The Aga Khan’s leading stayer showed that he remains at an elevated level when annexing the G2 Dubai Gold Cup over two miles at Meydan on World Cup day and despite a four-pound penalty he looks the standard-bearer. He was beaten 1 1/4 lengths by Ice Breeze (GB) (Nayef) when attempting a third consecutive success in the G1 Prix Royal-Oak at Saint-Cloud in October, with Holdthasigreen (Fr) (Hold That Tiger) two lengths back in third, but the Juddmonte winner had eight pounds weight-for-age in his favour on that occasion and now he has to mix it with Vazirabad on a level. Ice Breeze was third on his return behind Funny Kid (Lemon Drop Kid) and Doha Dream (Fr) (Shamardal) in the course-and-distance G3 Prix de Barbeville Apr. 29 and the latter is open to progression in this sphere having proved effective at a decent level over middle distances last term, most notably when runner-up in the G2 Grand Prix de Deauville in August. View the full article

Sunday’s Standard Chartered Champions & Chater Cup is the last of 12 Group 1 races on the annual calendar in Hong Kong, and given that just five horses have signed up for the 12-furlong test, it could very well become a riders’ race. ‘TDN Rising Star‘ Pakistan Star (Ger) (Shamardal) has had more ups and downs this season than the tram that carts tourists up Victoria Peak, but the 5-year-old gelding enters his first try at this distance in career-best form. The Hong Kong International Sales graduate, who has had to pass the stewards for a variety of misdeeds this season, came full circle in his latest with a dominating victory from off the pace in the G1 Audemars Piguet QE II Cup (2000m) Apr. 29, and a smashing recent barrier trial on the local dirt suggests he may yet still have a few lengths of improvement in him. However, the quirky galloper is almost certain to be unsuited by the shape of Sunday’s race. “Mentally, he likes to chase horses so this race, with no pace, is a concern,” trainer Tony Cruz, who saddles three of the quintet, told HKJC’s Andrew Hawkins. “He’s got to have some pace on. I don’t want any surprises with Pakistan Star–I don’t want him to go to the front and then stop, we haven’t got time for that kind of nonsense from him, so I want him to stick to what he has shown he appreciates.” WATCH: Pakistan Star earned his first Group 1 in the QE II Cup Though Pakistan Star is at odds-on in overnight wagering, Exultant (Ire) (Teofilo {Ire}) seems to be the apple of Cruz’s eye. The 4-year-old was given an enterprising ride by Zac Purton in the G3 Queen Mother Memorial Cup May 6, taking off around his rivals at midway before staying on strongly to the line to score by a half-dozen lengths. “He’s come through the race very well, he’s in top form,” Cruz said. “I think he will run a big race again, he’s just as fit as last time. He showed last time that he could be ridden on the pace and I think he just has one speed so in this race, where there is no speed, he could be the one to take it up.” Gold Mount (GB) (Excellent Art {GB}) is the third of the Cruz trio. Chemical Charge (Ire) (Sea The Stars {Ire}) makes history by becoming the first shipper to contest the Champions & Chater Cup. He was hardly embarrassed by his lone appearance in Hong Kong, where he finished a close fourth to Highland Reel (Ire) (Galileo {Ire}) in the G1 Longines Hong Kong Cup last December. Eagle Way (Aus) (More Than Ready), third in last year’s renewal, completes the field. View the full article

So often just the bridesmaid in some of Britain’s best contests last year, Nyaleti (Ire) (Arch) heads to Dusseldorf for some ample compensation on Sunday for the 98th G2 German 1000 Guineas. Proving that she retains all of her juvenile ability when winning a competitive renewal of the Listed Conqueror Fillies’ S. over this trip at at Goodwood May 5, the impressive G3 Princess Margaret S. scorer and G2 Duchess of Cambridge S. and G2 Rockfel S. runner-up is clear on ratings and needs only to give her customary full effort to at least be in the mix. As last week’s German 2000 Guineas proved, there is always one of the domestic team ready to step up when the overseas raiders apply the pressure and one who is poised to accelerate up the ranks is Team Valor’s acquisition Go Rose (Ger) (Soldier Hollow {GB}). Runner-up attempting to give the re-opposing Malakeh (GB) (Harbour Watch {Ire}) five pounds in the course-and-distance Listed Henkel-Stutenpreis Apr. 29, she is one of the more interesting home-trained runners alongside last year’s G3 Prix Dormello runner-up Binti Al Nar (Ger) (Areion {Ger}). Syndikat Rapido’s chestnut was just a short neck away from upsetting ‘TDN Rising Stars’ Efaadah (Ire) (Dansili {GB}) in the Listed Prix des Lilas at ParisLongchamp May 6 and that form entitles her to respect back on home soil. View the full article