Kentucky Derby 2020 finally opened but not for the public. The spectators were missing from the grandstand. The stadium can hold thousands of spectators. Horse racing is done with cheers from the crowd and enthusiasm. However, things were different this time.
There were mere hundreds of people. Those were staff, security, and member of Kentucky. Few were media people and horse owners. Well, the Derby did not try cutouts of the spectators and pre-recorded cheers.
Coronavirus did change things for everyone. The businesses are different now. With the spectators missing from the stands, the online betting came into force. When people were wondering how the race was earning revenue except for TV ads, online betting slowly took the center stage.
About one-third of the TV ads during the Derby was for Twin Spires betting services. It does not matter whether a person is not in a stadium or at the local bar, the marking and betting process remain the same, online and live.
The Triple Crown us is due on October 3rd without spectator of course. This is a new norm for horse racing and the sports industry overall.
Horse racing has faced a decline for decades. The successors of the blue-collar male horses were not recruited previously. It has survived thanks to the online betting.
The system has worked with bets crossing states and national borders.
However, the race tracks and the brick and motor racing facility needs money. Many of the racing tracks were converted to shopping malls as well. Horse racing needs more revenue streams. Generally, the horse racing units have asked the authorities for tax breaks, incentive payments for state breeding, and others.
Now, digital wagering is on the rise. Can the horse racing be centralized and the entire wagering process be turned into a digital process? Well, nothing unimaginable. The USA horseracing can get centralized even in another country and from there the wagering can happen digitally.
The authorities have worked out on different aspects before, and it will not be weird if they find out something similar again. However, horse racing is here to stay, even though it has struggled lately. The pandemic has pushed it even deeper. But such a situation also gives hope.
Maybe the Horse Racing in the USA would come better and shine after the pandemic.