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Thursday, November 5, 2009

Big Weekend for Horse Racing + October Figures

We wanted to quickly relay some industry news related to Youbet.com (UBET, $2.34), which reports results next Wednesday.

First, this is Breeders' Cup weekend, the biggest fall event in racing. Second, Equibase released October stats this week:
  • PLEASE NOTE: The 2008 Breeders’ Cup World Championships took place on Oct. 24-25. This year’s event will take place Nov. 6-7. Commingled wagering in 2008 totaled $150,593,454 and purses totaled $27,322,500 for the two-day event.
October 2009 vs. October 2008

Indicator October 2009 October 2008 % Change
Wagering on U.S. Races* $932,651,648 $1,125,935,224 -17.17%
U.S. Purses $105,200,583 $124,591,684 -15.56%
U.S. Race Days 530 513 3.31%

YTD 2009 vs. YTD 2008

Indicator YTD 2009 YTD 2008 % Change
Wagering on U.S. Races* $10,587,270,436 $11,880,122,731 -10.88%
U.S. Purses $930,847,834 $1,014,997,145 -8.29%
U.S. Race Days 5,191 5,298 -2.02%

  • * Includes worldwide commingled wagering on U.S. races.
  • Please Note: YTD 2009 purse total adjusted to exclude National Steeplechase Association purse monies, which were inadvertently included in last month’s advisory.
We'll come back with a bit more on Youbet.com in the next few days. Please stay tuned.

Happy investing,

Jeffrey Walkenhorst
CommonStock$ense

Disclosure: long UBET.

© 2009 Jeffrey Walkenhorst
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