The most famous horse racing track in the United States is back in action. On Saturday, May 16, Churchill Downs in Louisville, Kentucky, started their spring meet.
Due to the pandemic, Churchill won’t have as many race days in 2020 as they did in 2019.
That’s okay. The home of the Kentucky Derby demands attention. Check out everything you must know about this year’s Churchill Downs Spring Meet.
Horse racing betting action can help bookies maintain revenue during the pandemic. Churchill Downs will be at the forefront.
On Churchill’s opening day, sports bettors turned into horseplayers. Gamblers gamble. On May 16, gamblers decided to make wagers on races at the Louisville based track.
In horse racing parlance, "handle" refers to the race track's betting action on a single day. Churchill Downs produced a record handle.
Bettors of all sorts wagered $14,278,726 on the 11 races. On a comparable date in 2019, May 18, horseplayers bet $5,032,253.
What’s more impressive? The May 16 Churchill Downs race card didn’t include a single graded stakes race.
There wasn't any stakes race on Churchill's opening day card. That proves there’s pent up demand.
Churchill’s handle on May 16 proves that horse racing betting action can make bookies money. But not every race day at Churchill Downs will produce an over $14 million handle.
Soon, Churchill must compete for betting dollars with Belmont Park in New York. Already, Churchill competes with Santa Anita Park and Gulfstream Park.
The excellent news for bookie agents is that they can offer horse racing betting options on all major tracks. Agents must sign-up with a per head company that provides a digital racebook
If they do, they can weather the pandemic storm that flattened much of the sportsbook industry.
Pay per head agents hoping for an uptick in thoroughbred horse racing betting action must circle June 27.
That’s Churchill Downs next gigantic race day. It also happens to be the Kentucky Derby track’s spring meet closing day.
On June 27, Churchill runs four graded stakes: the Grade III Regret, the Grade II Stephen Foster, the Grade II Fleur de Lis, and the Grade III Bashford Manor.
Every spring, the Run for the Roses is the Louisville tracks signature event. In 2020, the Grade II Stephen Foster takes that moniker.
Unless basketball, hockey, and baseball have returned, Churchill Downs should own June 27. Make sure your players know that.
Many sportsbook owners started out as sports bettors. They have limited knowledge of horse racing.
Without knowledge, some bookies find it challenging to get players to wager on the ponies.
To get sports bettors to wager on horses, per head agents must introduce horse racing odds. All sports bettors, all players who gamble on anything, want to win as much as possible for little risk as possible.
In horse racing, players can win a lot of money for a small investment. The typical favorite to win a horse race offers 2 to 1 odds.
The payout for every $2 to win is $6. A $10 to win wager pays $30. That’s what bettors make on favorites.
To get players to bet on the ponies, bookies should do two things.
Discuss the various wagers players can make.
Horseplayers wager exactas, trifectas, superfectas, pick 3s, you name it. Make sure to look up those terms if you’re not familiar with them.
Talk up how much money players can win betting on horses.
Sports bettors pay a bookie fee, juice, to place ATS wagers. Not so with horse race wagering.
Not all per head organizations offer a digital racebook. Churchill’s handle on opening day proves that players are clamoring for betting options.
Because bookies don’t want to miss out on horse racing betting action, they should consider a per head partner that provides a racebook. One such partner is PayPerHead.
Current agents, or those wanting to create a sportsbook, should also contact PayPerHead.com.
The organization’s promotion right now offers free sportsbook software, including a digital racebook, until primary sports return. Contact the company for more details.