Latest news with #thoroughbreds
Yahoo
18-05-2025
- Sport
- Yahoo
It's one of the most rowdy US sporting events. Here's what Preakness says about the economy
A woman balancing a dozen cocktails on a tray atop her head inched carefully through the steadily building crowds and chaos Saturday morning at the Pimlico Race Course clubhouse. "How much is that," a man in purple pants yelled towards her, the glassware inches above her eyebrow clanking as she paused. "Twenty dollars," she replied. Ray De Rubin repeated the number in disbelief, mumbled an expletive under his breath, then said: "I'll take two." He and his mother were at Pimlico for the first time - here to wager on US horse racing's esteemed Preakness Stakes on its 150th anniversary. Just two weeks ago, during his 14th trip to the Kentucky Derby, he won big. "This is the exact same outfit I wore on Derby day. Same underwear, same socks, same hat," he said. "I still got my Derby wristband on." His wager at Pimlico? "I can't tell you. I don't want the IRS coming after me," he said with a grin. On the other side of Pimlico – just beyond the thousand-dollar seats, champagne flutes, and air-conditioned tents on the infield – five thoroughbreds idled behind the starting line. Mr De Rubin had bets on three of them. There was a brief moment of quiet before the race. Boom! The gates flung open, the horses took off. Mr De Rubin, eyes fixed on the screens above, stood frozen. But only for a moment. "I get really loud when I watch the race. I put a lot of work into this," he said. One of three annual thoroughbred races - along with the Kentucky Derby and the Belmont Stakes - that make up what is known as the Triple Crown, the Preakness Stakes has long been known as one of the most glamorously bacchanal events in US sports. Held at the Pimlico Race Course in Baltimore, Maryland, it brings together the rowdy and the rich. But this year, its tradition have been thrown into question. In his second presidency, Donald Trump has enforced swift, dramatic economic policy changes, leading to consumer pessimism unseen in over half a century. Virtually no corner of the American market has been spared - from the fast-food hamburger to the Preakness Stakes. Much of the current market-rattling turmoil is a result of Trump's sweeping global tariffs, announced on 2 April. Dubbed "Liberation Day", he said the new economic strategy would usher in "the golden age of America". Instead, in the 48 hours after his announcement, the S&P 500 had its worst two-day sell-off in years, as trillions of dollars were wiped from the stock market. Three weeks later, the International Monetary Fund warned of a global recession. Even McDonald's reported a drop in sales, which the burger chain's CEO attributed to customers "grappling with uncertainty". But while the stock market has mostly recovered following tariff agreements with the UK and China, the tariffs' impact may be just beginning; mega corporations like Walmart and Amazon recently warned of price increases. But at Pimlico, the state of Maryland is betting big, with plans to demolish the track right after Saturday's event and rebuild a new course in its place, plus a state-of-the-art training facility. The tariffs' shadow looms here, too. "We expect there to be some kind of impact," the Maryland Stadium Authority told the BBC in a statement. But for now, they said the effects on the half-billion dollar project remains unclear. Aside from tariffs, horse race attendance has shrunk in recent years. Just over 46,000 people attended the Preakness in 2024, down from the 131,000 that attended in 2019. The Derby drew a much larger crowd of roughly 150,000 this year but was still well under its peak of 170,000 in 2015. Bill Carstanjen, CEO of the Derby's home, Churchill Downs, said a dip in sales this year was due to buyer "hesitancy" that "correlates perfectly" with Trump's swinging tariffs. "We didn't have the endless pool of demand that we've seen in prior years," Mr Carstanjen told the Lexington Herald. Still, gambling records this year were broken at the Derby and Preakness. Over a week before the Preakness and before the horses running were finalised, a Preakness record of $348,000 was wagered on betting futures, up from last year's record of $260,000. All just a drop in the bucket compared to the millions that will be wagered by the time the last horse crosses the finish line. University of Kentucky economics professor Justin Balthrop told the BBC that a rise in gambling also could be a sign of economic distress. "People who reach a certain level of despair will start to take on more risk, in an effort to literally gamble their way back to a place where they feel like they can be more comfortable," Professor Balthrop said. "You combine that with this idea that maybe they are so pessimistic, that this gives them the dopamine rush or endorphin release." Waiting in a long line on Pimlico's infield, Anthony Walker was among those looking for "a little reprieve". He was glad "to be able to take a few hours away from all that instability" of the stock market and federal employee layoffs, also stirred by Trump. Mr Walker planned to gamble – "you can't come to the race without putting a little something out there" – but a bit less than he might've in more certain times. "I'm wagering 50% less, for sure," he estimated. "Because of what's happening in the economy – the way this administration is taking a wrecking ball to the longstanding traditions and institutions that give credence to the American way of life." At the Preakness, there are still endless ways to get a quick dose of gambling-induced dopamine. Even for as little as 10 cents. "I've seen a 10 cent (wager) pay $75,000," said Peter Rotondo, who heads racing and wagering for 1/ST, the organisation running Preakness. To do so, one would have to wager on what's called a superfecta: correctly guessing which four horses will place in the top four in the exact order, odds that are about on par with getting struck by lightning. "That's the beauty of the super," Mr Rotondo said. The pricey cocktail Mr De Rubin grumbled about is the Black-Eyed Susan, also Maryland's official flower. The crazed concoction - bourbon, vodka, and a splash of mixers - leaves one to wonder whether it's truly a tribute to the state flower or a wink to the likely black eye after having too many. The drink is one of many traditions at the annual event. There's also the decades-old Tiffany & Co-made trophy called the Woodlawn Vase, considered "the most valuable trophy in sports". Made of 30lb of sterling silver, it's valued at an estimated $4m (£3m), and thus is kept in a museum most of the year. The Preakness winner leaves with a replica. But for many, the Preakness wouldn't be the Preakness without the party on the infield. "I went a lot in my 20s and 30s. It was an absolutely crazy party," Bobby Duke, 51, said in an email to the BBC. "In 1998, a guy jumped the fence and tried to punch a horse while racing. It's on YouTube." Though Pimlico always had offerings for elegant, fans like Mr Duke fondly remember piling into the infield for "the most salacious party on the sports calendar", as ESPN once put it, where patrons would race across a long row of porta-pottys while dodging beer cans hurled at them by inebriated onlookers. (That tradition ended around 2009, when Pimlico stopped its BYOB policy.) Maryland officials said the new Pimlico will become a year-round racing facility, and hopefully bring an economic boost to the low-income Park Heights neighbourhood surrounding it. In his purple paints and every-colour-of-the-rainbow shirt, Mr De Rubin grew agitated as his luck began to unravel during the five-horse race. "(Horse number five) is dead last. I don't think they're going to catch this," he said with growing animation, rattling the ice in his Black-Eyed Susan. He placed bets on horses one, three and five. "Oh, (crap), the three horse. Here comes the one horse. Come on, one!" In a span of about three minutes, the anticipation, anxiety, fear and hope all came crashing to an end. Mr De Rubin didn't win. But he didn't lose either. The even spread on the winning horse basically gave him back what he put into it. He compared the experience to today's seesaw stock market. "Investing, and betting on horses, is gambling. You have ups and downs," he said. His stock portfolio has taken a wild downward spin through Trump's global tariff tit-for-tat. But recently it sprang back into the green and is up around 20%, he said. Unlike the horses, "you can't watch the market. It'll give you a heart attack", he advised. "I have faith in Trump. He's a little crazy with it right now, but it'll all work out."
BBC News
18-05-2025
- Sport
- BBC News
Rowdy and rich, here's what Preakness says about the US economy
A woman balancing a dozen cocktails on a tray atop her head inched carefully through the steadily building crowds and chaos Saturday morning at the Pimlico Race Course clubhouse."How much is that," a man in purple pants yelled towards her, the glassware inches above her eyebrow clanking as she paused. "Twenty dollars," she De Rubin repeated the number in disbelief, mumbled an expletive under his breath, then said: "I'll take two."He and his mother were at Pimlico for the first time - here to wager on US horse racing's esteemed Preakness Stakes on its 150th anniversary. Just two weeks ago, during his 14th trip to the Kentucky Derby, he won big. "This is the exact same outfit I wore on Derby day. Same underwear, same socks, same hat," he said. "I still got my Derby wristband on."His wager at Pimlico? "I can't tell you. I don't want the IRS coming after me," he said with a the other side of Pimlico – just beyond the thousand-dollar seats, champagne flutes, and air-conditioned tents on the infield – five thoroughbreds idled behind the starting line. Mr De Rubin had bets on three of them. There was a brief moment of quiet before the race. Boom! The gates flung open, the horses took off. Mr De Rubin, eyes fixed on the screens above, stood frozen. But only for a moment."I get really loud when I watch the race. I put a lot of work into this," he said. Tradition, but under a shadow One of three annual thoroughbred races - along with the Kentucky Derby and the Belmont Stakes - that make up what is known as the Triple Crown, the Preakness Stakes has long been known as one of the most glamorously bacchanal events in US sports. Held at the Pimlico Race Course in Baltimore, Maryland, it brings together the rowdy and the rich. But this year, its tradition have been thrown into his second presidency, Donald Trump has enforced swift, dramatic economic policy changes, leading to consumer pessimism unseen in over half a century. Virtually no corner of the American market has been spared - from the fast-food hamburger to the Preakness of the current market-rattling turmoil is a result of Trump's sweeping global tariffs, announced on 2 April. Dubbed "Liberation Day", he said the new economic strategy would usher in "the golden age of America". Instead, in the 48 hours after his announcement, the S&P 500 had its worst two-day sell-off in years, as trillions of dollars were wiped from the stock weeks later, the International Monetary Fund warned of a global recession. Even McDonald's reported a drop in sales, which the burger chain's CEO attributed to customers "grappling with uncertainty". But while the stock market has mostly recovered following tariff agreements with the UK and China, the tariffs' impact may be just beginning; mega corporations like Walmart and Amazon recently warned of price increases. But at Pimlico, the state of Maryland is betting big, with plans to demolish the track right after Saturday's event and rebuild a new course in its place, plus a state-of-the-art training tariffs' shadow looms here, too. "We expect there to be some kind of impact," the Maryland Stadium Authority told the BBC in a statement. But for now, they said the effects on the half-billion dollar project remains from tariffs, horse race attendance has shrunk in recent years. Just over 46,000 people attended the Preakness in 2024, down from the 131,000 that attended in 2019. The Derby drew a much larger crowd of roughly 150,000 this year but was still well under its peak of 170,000 in Carstanjen, CEO of the Derby's home, Churchill Downs, said a dip in sales this year was due to buyer "hesitancy" that "correlates perfectly" with Trump's swinging tariffs."We didn't have the endless pool of demand that we've seen in prior years," Mr Carstanjen told the Lexington Herald. 'A little reprieve' Still, gambling records this year were broken at the Derby and Preakness. Over a week before the Preakness and before the horses running were finalised, a Preakness record of $348,000 was wagered on betting futures, up from last year's record of $260,000. All just a drop in the bucket compared to the millions that will be wagered by the time the last horse crosses the finish line. University of Kentucky economics professor Justin Balthrop told the BBC that a rise in gambling also could be a sign of economic distress."People who reach a certain level of despair will start to take on more risk, in an effort to literally gamble their way back to a place where they feel like they can be more comfortable," Professor Balthrop said."You combine that with this idea that maybe they are so pessimistic, that this gives them the dopamine rush or endorphin release." Waiting in a long line on Pimlico's infield, Anthony Walker was among those looking for "a little reprieve".He was glad "to be able to take a few hours away from all that instability" of the stock market and federal employee layoffs, also stirred by Walker planned to gamble – "you can't come to the race without putting a little something out there" – but a bit less than he might've in more certain times."I'm wagering 50% less, for sure," he estimated. "Because of what's happening in the economy – the way this administration is taking a wrecking ball to the longstanding traditions and institutions that give credence to the American way of life."At the Preakness, there are still endless ways to get a quick dose of gambling-induced dopamine. Even for as little as 10 cents."I've seen a 10 cent (wager) pay $75,000," said Peter Rotondo, who heads racing and wagering for 1/ST, the organisation running do so, one would have to wager on what's called a superfecta: correctly guessing which four horses will place in the top four in the exact order, odds that are about on par with getting struck by lightning."That's the beauty of the super," Mr Rotondo said. 'The most salacious party in sports' The pricey cocktail Mr De Rubin grumbled about is the Black-Eyed Susan, also Maryland's official flower. The crazed concoction - bourbon, vodka, and a splash of mixers - leaves one to wonder whether it's truly a tribute to the state flower or a wink to the likely black eye after having too drink is one of many traditions at the annual event. There's also the decades-old Tiffany & Co-made trophy called the Woodlawn Vase, considered "the most valuable trophy in sports". Made of 30lb of sterling silver, it's valued at an estimated $4m (£3m), and thus is kept in a museum most of the year. The Preakness winner leaves with a for many, the Preakness wouldn't be the Preakness without the party on the infield."I went a lot in my 20s and 30s. It was an absolutely crazy party," Bobby Duke, 51, said in an email to the BBC. "In 1998, a guy jumped the fence and tried to punch a horse while racing. It's on YouTube."Though Pimlico always had offerings for elegant, fans like Mr Duke fondly remember piling into the infield for "the most salacious party on the sports calendar", as ESPN once put it, where patrons would race across a long row of porta-pottys while dodging beer cans hurled at them by inebriated onlookers. (That tradition ended around 2009, when Pimlico stopped its BYOB policy.)Maryland officials said the new Pimlico will become a year-round racing facility, and hopefully bring an economic boost to the low-income Park Heights neighbourhood surrounding it. Watch the horses, not the stock market In his purple paints and every-colour-of-the-rainbow shirt, Mr De Rubin grew agitated as his luck began to unravel during the five-horse race."(Horse number five) is dead last. I don't think they're going to catch this," he said with growing animation, rattling the ice in his Black-Eyed Susan. He placed bets on horses one, three and five."Oh, (crap), the three horse. Here comes the one horse. Come on, one!"In a span of about three minutes, the anticipation, anxiety, fear and hope all came crashing to an end. Mr De Rubin didn't win. But he didn't lose either. The even spread on the winning horse basically gave him back what he put into compared the experience to today's seesaw stock market."Investing, and betting on horses, is gambling. You have ups and downs," he stock portfolio has taken a wild downward spin through Trump's global tariff tit-for-tat. But recently it sprang back into the green and is up around 20%, he the horses, "you can't watch the market. It'll give you a heart attack", he advised."I have faith in Trump. He's a little crazy with it right now, but it'll all work out."
Fast Company
17-05-2025
- Sport
- Fast Company
11 reasons why racehorses end up with such weird names
When a friend and I began investing in thoroughbreds in 2018, it wasn't fantasies of running in the Kentucky Derby or the Preakness Stakes that excited us most. It was naming the racehorses. We'd seen California Chrome and American Pharoah etch their names in the sports lexicon. And while producing a horse of that caliber was a longshot, just the prospect of the announcer yelling, 'Here comes [name we chose] down the stretch!' was unexpectedly thrilling. This weekend's Preakness Stakes, the second leg of the Triple Crown, features some elite thoroughbreds, and even some better names. Journalism, the favorite, has arguably the best name in the field. American Promise has obvious American Pharoah vibes and was sired by 2018 Triple Crown winner Justify—another iconic moniker. On name alone, I'd put my money on Sandman. And while betting on the horse with the best name is the equivalent of my 10-year-old daughter rooting for the Miami Dolphins because their uniforms are pretty, for a niche sport that becomes the center of the sports world for six weeks in the spring, sometimes the name is all we've got. For owners to choose a name worth rooting for, there are some tricks—and rules—to follow. The Basics All racehorses are given the birth date of January 1 of the year they were born, regardless of their actual birthday. Then, the clock starts ticking. Owners must give their horses an official, registered name by February of their second year, or face late registration fees from horse racing's administrative hub, The Jockey Club. Before receiving their official monikers, these nameless thoroughbreds are typically referred to by combinations of their sire and dam's names (their father and mother) along with a description. For instance, the horse As Time Goes By was previously known as 'bay mare by American Pharoah out of Take Charge Lady.' Sometimes they go by just the dam's name and the birth year—'2020 chestnut gelding out of Sunrise Glow.' Kind of like how COVID-19 got its name, or how scientists would name a newly discovered planet. Owners must submit six different name options to The Jockey Club for consideration, each of which must follow the club's specific rules. The Science Racehorse naming follows strict guidelines. Before Twitter, horse racing featured the original character limit. Names cannot exceed 18 characters, including spaces and punctuation. This explains compact names like Shutthefrontdoor and Keepmeinmind. Additionally, names are limited to seven syllables, with 2003 Kentucky Derby contender Atswhatimtalkinbout pushing character, syllable, and pronunciation limits to the extreme. Using initials is also prohibited, as are numbers—unless spelled out, as exhibited by 1988 Derby runner-up Forty Niner. Horse-related terms like filly, colt, mare, and stallion are also forbidden, as are official course and race titles. Names with obvious commercial value are also immediately rejected. Nobody wants to see a horse named Coca-Cola or TikTok leading the field down the stretch. The art Uniqueness is nonnegotiable. No horse can share a name with another currently racing or one that has raced or bred in the previous 10 years. For stallions, the name protection extends to 15 years after they've stopped breeding, while winners of Grade 1 stakes races—the highest echelon of the sport—are protected for 25 years. And just like sports teams retire jersey numbers, names like Secretariat, Man o' War, and Seattle Slew are forever on the restricted list and can never be reused. To check a name's availability, owners can verify it against the Jockey Club registry. Personal names are also tricky. A horse cannot be named after a famous person or someone who's been dead for less than 50 years without written permission from them or their family. I learned this firsthand when I tried to name one of our horses Mookie Blaylock as an ode to Pearl Jam, which the band used as its original name before changing it, and was informed I needed permission, which wasn't worth the trouble. One of the most famous stories of a celebrity-named horse came in 1991, when then-First Lady Barbara Bush gave her written consent to the owner of a filly out of Kentucky to use her name, but the horse made only two starts and earned just $102 in winnings. Finally, the Jockey Club strictly prohibits vulgar, obscene, or offensive names. Previously rejected names include Ben Dover and Sofa King Fast, though occasionally, some—like Hoof Hearted —slip past the censors. The craft Casual and seasonal horse racing enthusiasts remember names like California Chrome and Smarty Jones, both Derby winners. But who remembers Orb, or Mage? Both also won the Derby, but their names don't inspire, so they're largely forgotten. To craft a unique, memorable name that bettors want to root for, many owners look to their horse's physical characteristics. A foal with a distinctive scar might earn a boxing-related name like Haymaker, turning an imperfection into a memorable identity. The most common tradition is incorporating the parents' names, like a nominal family tree, as 2023 Derby contender Tapit Trice did when it combined sire Tapit with dam Danzatrice (Italian for ballerina), creating a name that honors both bloodlines. The biggest breeders have more sophisticated racehorse naming strategies. Susan Magnier, who names the racehorses at Coolmore in the UK, reserves grand names for their most promising colts. The name Camelot was stored in her diary for nearly 10 years before a worthy horse emerged. That horse went on to win six of the 10 races he started across Ireland and Great Britain in 2011–13, doing the moniker justice. From Bananas on Fire to Sandman My partner and I had four horses to name. One name I've already forgotten, as it was given to a forgettable horse. Another we dubbed Artillery—strong, singular, and assertive. A third we named Queen Karma. We liked the implied royalty combined with the mysticism and alliteration. But the name that caught the attention of bettors and emerged as the best in the stable was Bananas on Fire, a nod to our favorite beer from a local Lake Oswego brewery. Hardly Secretariat or Seabiscuit, but it was fun. Which is where many owners land. While there's no Bananas on Fire in this weekend's Preakness, we do have Journalism. We have River Thames, Goal Oriented, and Pay Billy. Sovereignty, another strong name, won the Derby but won't be running the Preakness, so there's no shot at a Triple Crown this year. So if we're going on name alone, even with Journalism locked in as the favorite, I'll still put my money on the best name in the field.
South China Morning Post
17-05-2025
- South China Morning Post
The cruelty of gambling on horses in Hong Kong must end
Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@ or filling in this Google form . Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification Recently, three horses perished on Hong Kong racetracks in a week, including Liberty Island , a high-profile thoroughbred from Japan. Globally, the issues of drugs, fatal injuries, whipping slaughter and corruption in this industry are well documented. The cruelty of this pastime must end – the cost to horses is simply too high. Thoroughbreds in many jurisdictions are forced to run while still young and growing. Horses routinely suffer injuries, lameness and exhaustion and are medicated with muscle relaxants, sedatives and other pharmaceuticals. Countless die in racing, long before their natural lifespan. Many that survive aren't retired to grassy pastures. Instead, their flesh ends up on plates in places like South Korea. Peta US investigators captured footage at South Korea's largest horse slaughterhouse and identified 23 thoroughbred racehorses. The footage of trembling horses was gut-wrenching. After a police investigation, three workers and the company were charged, but it's business as usual in this cruel industry. Gambling on horses' lives is indefensible while this abuse continues.
The Sun
13-05-2025
- Sport
- The Sun
Paul Nicholls set to lose host of horses including ‘brilliant' serial winner as he plots yard refresh with daughter Meg
PAUL NICHOLLS is set to lose a host of horses at the upcoming sales - including a serial winner and unraced £140,000 potential star. The legendary Ditcheat boss has joined rival Nicky Henderson in putting a load of runners under the hammer - as part of the regular end-of-season refresh. It comes as Nicholls will aim for a squad overhaul over the summer under the watchful eye of daughter Megan. Among the nine horses Nicholls will have up for sale at Doncaster later this month is a 'brilliant' five-time winner. Bryony Frost waxed lyrical about Ioupy Collonges after the Neil and Alfie Smith-owned seven-year-old won at Perth last year. She said the son of Kitkou, who has more than £45,000 earnings from 12 career runs, was 'big and bold' in the Class 3 novice handicap chase. And he proved that was no fluke with a £10,000 win over 3m1f last Boxing Day at Wincanton, taking his mark to 126. He is lot No666 in the Spring HIT/PTP sale, with Nos 663-665 also being consigned by Nicholls under the Manor Farm Stables banner. Among them is former Grade 1 runner Farnoge, who fired a quickfire double under Harry Cobden at the tail end of 2023. While top owner Johnny de la Hey has decided the time is right to offer Wrappedupinmay to another owner. The seven-year-old gelding won an Irish point-to-point by 30 lenghts on debut and finished outside the top three just once in seven runs under rules before being pulled up at Wincanton in January. While the Stewart Family, who continue to run horses in the silks of late legendary owner Andy Stewart, have also decided to flog Onethreefivenotout. Named after Ben Stokes' legendary 2019 Ashes innings at Headingley, he has won three of his 11 career races after being bought by Nicholls and bloodstock expert Tom Malone for £125,000 the same year as Stokes' heroics. Of the nine horses Nicholls is set to sell on behalf of his owners, arguably the most interesting is the unraced Golden Photo. A £140,000 buy by Nicholls and Malone in June 2023, the five-year-old son of Authorized has never made the racecourse. But he had been purchased by the late John Hales, who won the Grand National with Neptune Collonges and owned a load of top horses with big mate Sir Alex Ferguson. Golden Photo's dam, Diteou, is a sister to dual Gold Cup king Al Boum Photo. While the horse himself is a half-brother to 2m4f hurdle winner Golden Point, suggesting staying trips are firmly on his agenda. Sun Racing told you Nicholls will target all the big sales with the help of daughter and ITV Racing pundit Meg this summer. Nicholls and Malone have formed a formidable team in recent years. But the 14-time champion trainer is looking to shake things up for the autumn after seeing protege Dan Skelton battle it out with Willie Mullins for top honours last season. Commercial content notice: Taking one of the offers featured in this article may result in a payment to The Sun. You should be aware brands pay fees to appear in the highest placements on the page. 18+. T&Cs apply. Remember to gamble responsibly A responsible gambler is someone who:
