Keeneland on record handle path, with 3 contributing factors
Through the first seven days of its spring meeting, Keeneland Race Course is on track to shatter records after handling $121,772,075, up 31.7 percent from the first seven days of 2021.
The 2021 spring meeting produced record handle of $164,680,229 with $92,486,072 (56.1 percent) coming through the first seven days. If this year’s handle trend matches last year's trajectory, then the Lexington track is poised to have its first-ever $200 million meeting.
Keeneland director of wagering development Jim Goodman attributed the increase to three factors:
- This year’s attendance is two to three times what it was last year, as COVID protocols kept things tight. This year, Keeneland still limits general admission to 10,000, but the daily crowd is much bigger.
- Oaklawn Park moved the Arkansas Derby to five weeks before the Kentucky Derby, i.e., before the Keeneland meeting even began.
- Computer automated wagering is up.
"We're seeing increases across the board," Goodman said. "All outlets, all wagering types, people are excited to bet Keeneland."
Keeneland opened Friday, April 8, and set daily records through the first five days of the meeting. Opening day was a record Friday, Blue Grass day was an all-time record, opening Sunday was a record Sunday, and the first two days of the second race week were the best Wednesday and Thursday ever.
The $15.6 million Maker's Mark Mile card could not break the record Friday from opening day, but it was up 19 percent from last year’s Maker’s Mark Mile day. Lexington day was up 29.2 percent versus last year, though again, the Arkansas Derby day shift played a role in that.
"If the Arkansas Derby had run Saturday, then we wouldn’t have done $27 million," Goodman said."So that’s a circumstance we had no control over that helped us. But when I saw the early pick 5 and pick 4 pool, I said, 'Whew! It’s going to be a big day.' "
Keeneland's 31 percent increase comes despite overall U.S. handle being down 1.6 percent April 8-17 versus April 2-11, though handle in North America for April 1-17 year over year is up 5.3 percent.
That type of increase in the face of less overall handle when Keeneland runs, though, means that there are some decreases. Hawthorne is down 39 percent, Turf Paradise 38 percent (on one fewer race day), and Gulfstream down 10.5 percent.
Oaklawn is down 49.8 percent on one fewer race day, but the Arkansas Derby day shift accounts for that. The Hot Springs track will get a rebound opportunity this week when the Racing Festival of the South resumes.