Kentucky and the thoroughbred industries: prospects and challenges as gambling stagnates

Over the last 15 to 20 years or so horse racing has seen declines in wagering and fan attendance throughout US. Because of this, number races, horses per race, thoroughbred farms, new thoroughbreds bred born each year for about 10 12 have also declined. The decline occurred despite simulcasting online betting, gambling machines which employ films past races (historical machines). Those racetracks doing well are usually part larger casino entertainment complexes (racinos). Kentucky, one greatest farms capita United States, is home world’s premier Churchill Downs Kentucky Derby, declining inflation adjusted industry tax revenues since 1990s. These losses, although a small share state’s overall revenues, somewhat exacerbate budget already substantial an almost complete loss from two other major industries state, coal tobacco. This research note explores why Thoroughbred how this impacting some state especially support equine industries. Policy decisions will be made regarding future support.