Little Red Feather Racing Blog

Joe Longo - Senior LRF Blogger

Recent Posts

Horse Racing Partnerships 101 - The Graded Stake Landscape

Posted by Joe Longo - Senior LRF Blogger on Aug 22, 2016 10:26:14 AM

Editors note: Winning a graded stakes race is the pinnacle for anyone in horse racing partnerships! Above is Little Red Feather Racing's Midnight Storm capturing the 2016 Eddie Read at Del Mar. A grade 1 for many years, the race was "dropped" to a grade 2 in 2016. Senior LRF blogger Joe Longo explains the graded stake landscape below. We hope you have enjoyed Joe's blogs this summer. Enjoy!

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Topics: Opinion Piece

Horse Racing Partnerships 101 - Stud Fees

Posted by Joe Longo - Senior LRF Blogger on Aug 12, 2016 12:52:27 PM

The stallion market has seen its share of ups and downs over the years and by all measures it has finally stabilized. Gone are the days when Northern Dancer commanded a stud fee of $1 million (with no guarantee!) and even the $500,000 that Storm Cat went for during the peak of his time in the breeding shed. There is no telling if we will ever reach that height again, but a review of the current top ten stallions’ stud fees in North America reveals an upward trend.

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Topics: Opinion Piece

Horse Racing Partnerships 101: Racinos

Posted by Joe Longo - Senior LRF Blogger on Aug 1, 2016 2:26:57 PM

These days the most important color in racing is green, and I’m not talking about rolling pastures. The racing landscape has changed significantly over the last decade with the advent of the “racino” which is loosely defined as a race track that has a casino. Now more than ever race tracks are flush with cash allowing them to offer purses at levels that were unheard of previously. The old saying that goes, “All good things must come to an end” could certainly ring true with the recent events that took place in Florida several months ago. That being said, is all this new found money a good thing?

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Topics: Opinion Piece

Horse Racing Partnerships 101: Have $$ Will Travel

Posted by Joe Longo - Senior LRF Blogger on Jul 21, 2016 11:34:51 AM

Songbird, the undefeated daughter of Medaglia d’Oro and arguably the best three year old of both sexes this year, is set to leave the friendly confines of the West Coast to compete in the Coaching Club American Oaks (CCAO) on July 24th at Saratoga. In an effort to lure the star filly to the spa, the New York Racing Associated (NYRA) agreed to raise the purse of the race to $500,000 from $300,000 contingent upon her starting. Owner Rick Porter agreed to go to the race should the purse be raised, and has since committed to it with the announcement. You really can’t blame the connections for wanting more money with the lack of marquee horses in the game, but can the same be said for NYRA?

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Topics: Opinion Piece

Horse Racing Partnerships 101: 2YO Racing is Safer Than You Think

Posted by Joe Longo - Senior LRF Blogger on Jul 5, 2016 8:14:41 PM

Benjamin Franklin is credited with the phrase, “In this world nothing can said to be certain, except death and taxes”. While I certainly agree with death, and taxes to an extent depending on how creative your accountant is, another certainty within the racing industry and its detractors is the safety of two-year-old racing. The topic is one that is hotly debated year after year, especially by owners in horse racing partnerships that descend upon Del Mar and Saratoga every year.  So, just how safe is two-year-old racing, and should we wait longer before our horses run?

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Topics: Opinion Piece

Horse Racing Partnerships 101: The Big Day!

Posted by Joe Longo - Senior LRF Blogger on Jun 24, 2016 11:44:52 AM

Horse players and owners in horse racing partnerships love the “Big Day” of stakes laden cards. Racetracks hold these events as a way to boost handle and attendance as well as generate interest in the media. The recent Belmont Stakes Festival of Racing is a prime example of a racetrack embracing the mentality and making it even bigger. The festival featured 19 stakes races held Thursday through Sunday with purses worth around $10 million. On Belmont Stakes day itself, 10 of the 19 stakes races were held worth a staggering $7.5 million making it the second biggest day in terms of purses distrusted second only to Breeders Cup Saturday.

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Topics: Opinion Piece

Horse Racing Partnerships 101: Leave Your Troubles Behind

Posted by Joe Longo - Senior LRF Blogger on Jun 21, 2016 8:00:00 AM

With the beginning of summer here the best of what horse racing has to offer is officially underway. The days of freezing temperatures and less daylight are a distant memory, at least for the next couple months. Traditional summer meets are gathering steam with several looming boldly on the outside. One of the benefits of investing in horse racing partnerships is that instead of owning one horse, you can own shares in many horses – FROM COAST TO COAST. It truly is the most wonderful time of the year.

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Topics: Opinion Piece

Horse Racing Partnerships 101: The Home Run Horse

Posted by Joe Longo - Senior LRF Blogger on Jun 17, 2016 12:13:49 AM

 

In our most recent blog “Seriously, how much does it cost to own a racehorse”, the costs of ownership were broken down to around $45,000 for routine maintenance and training fees excluding stakes nominations costs. Keep in mind that the costs are generally split between shareholders of horse racing partnerships making them a little more affordable. Many people go into horse ownership for the thrills and the experience, but in the end horse racing partnerships are a business with the end goal of producing a profit for its partners.

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Topics: Opinion Piece

Horse Racing Partnerships 101: The Rainbow Pick 6!

Posted by Joe Longo - Senior LRF Blogger on Jun 3, 2016 12:02:58 PM

As an owner in horse racing partnerships one makes the occasional wager every now and then. One of the most popular wagers in the industry is the Pick 6 which gives horse players the chance at a life changing score. The first Pick 6 was introduced at the now defunct Hollywood Park in 1980. Since then many tracks have taken on the wager and have been successful in doing so. The traditional Pick 6 is a $2 base wager and will payout the total pool should the sequence be hit to the number of tickets with that combination. Selecting six winners in a row is a challenge in itself and the base price of $2 can make the bet both enticing and investment prohibitive.

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Topics: Opinion Piece

Horse Racing Partnerships 101: The Takeout Issue

Posted by Joe Longo - Senior LRF Blogger on May 18, 2016 11:45:18 AM

The topic of takeout in horse racing as is one that is highly contentious in the industry for the horse racing customer.  The customer’s understanding of this concept varies as much as the condition books for tracks across the country.  The casual fan may not even be aware of what takeout is while the more seasoned player uses it as a map of where they choose to play.  Simply put, takeout is the fee the racetrack and horse owners charge to put on the racing performance.  Las Vegas Sports Books and bookies have a similar fee. They call it “the juice”.

In horse racing the “juice” is generally 20%. This fee is a percentage of the handle wagered on the race card for the day.  In other words, if $100,000 is placed to “win” on a race, the house (ie racetrack, and horse owners) removes $20,000 with $80,000 split by all the gamblers with the winning ticket. The actual percentage of each bet varies by racing jurisdiction. A great website for horse players is Horseplayers Association of North America. You can find the takeout rates in each jurisdiction there.   

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Topics: Opinion Piece