$$$. If people could not bet on horses, there would be zero interest and the sport would not exist. Lets see what happens to horse racing over the next decade. They have already gotten some real bad press with all of those horses getting put down at Santa Anita. The negativity surrounding the outcome of the Derby doesnt help either with casual fans. Theres almost zero interest in horse racing in people under 45, and as great a moment it was when American Pharoah became the first horse to win the Triple Crown in 40 years, you could make the argument that it hurt the sport from a casual viewers standpoint. There was no longer that history tied to it. When Justify was going for the Triple Crown, it just didnt have the same “buzz” because it happened three years earlier.
Going back to my point about interest in horse racing for younger people. Its just not there. Keep in mind, back in the day, wagering on horses was the only kind of legalized betting. There was no Mohegan Sun or Foxwoods in the 1940’s, 50’s, 60’s, 70’s, 80’s, and Atlantic City didnt pass legalized gambling until the late 70’s, but you could go to the track and bet on horses. Now, sports betting is legal in New Jersey and soon to be legal in CT. More people are going to bet on football, basketball, and baseball than horses so that is another main reason I think horse racing will decline.
