Record Derby Week Wagering Prompts Churchill Downs To Boost Purses 10 Percent

Record wagering on races at Churchill Downs Racetrack during the week of the Kentucky Derby Presented by Woodford Reserve (Grade I) and the Longines Kentucky Oaks (GI) and strong business during the two subsequent weeks of the ongoing Spring Meet have enabled the track to announce a 10 percent increase in daily purses for overnight races effective Thursday, May 31.

Entries for the first of those races scheduled for the “Twilight Thursday” racing program on May 31 will be taken on Saturday, May 26. Purses for overnight races – which include overnight stakes, allowance, maiden special weight, claiming and maiden claiming events – will rise by an approximate blended average of $4,034 per race.

The purse increase will cover the final 19 racing days of the 38-day 2018 Spring Meet that will conclude on Saturday, June 30.

Total overnight purses offered for the meet are projected to be $13.1 million, up from the original forecast of $12.4 million. The daily average purse distribution, not including stakes money or Kentucky Thoroughbred Development Fund (“KTDF”), will be $344,337 per day. That number grows to $601,456 when stakes and KTDF money is included.

“Despite historic rainfall on Kentucky Derby Day, fans wagered at record levels on races presented throughout Derby Week at Churchill Downs, and it’s exciting that owners, trainers, jockeys and breeders who compete in our races will benefit from those increased business levels,” said Kevin Flanery, President of Churchill Downs Racetrack. “Kentucky Derby Week racing at Churchill Downs continues to grow as both an on-track event and an increasingly attractive product for online wagering platforms led by TwinSpires.com and at other racetracks and satellite wagering outlets. We thank all involved in the presentation of our outstanding race product for their ongoing support and participation and we look forward to an exciting final month of our 2018 Spring Meet.”

Wagering from all sources was the highest all-time for both the Kentucky Derby Day racing program and the Kentucky Derby race on Saturday, May 5. All-sources wagering records were also established on Friday, May 4 for both the Kentucky Oaks Day race card and the Kentucky Oaks race. All-sources handle for Opening Night, Saturday, April 28, through Derby Day, Saturday, May 5, rose to a new record of $311.2 million, up 9% from the previous record of $285.1 million set last year. Attendance for those six Derby Week days was 375,346, up 7% over 2017.

The post Record Derby Week Wagering Prompts Churchill Downs To Boost Purses 10 Percent appeared first on Horse Racing News | Paulick Report.

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