Decline and the Derby

After watching the Kentucky Derby today, as I do every year, I was wondering if everyone else also watches it yearly. I have always assumed that in general people do watch it, because it's so quick and easy to understand (unlike the Superbowl, which I tend to skip). But I definitely don't watch it because I like horse-racing. I like horses quite a lot, but right now it's about ten minutes after the race ended and I've already forgotten the name of the winner.

Horses racing at Belmont. Source

Well, it turns out that while I am not incorrect in thinking that the Derby is a big deal (though of course it can't compare to the Superbowl). Nearly a quarter of a million people attend, 100 million dollars change hands in the bets and over 14 million watch. This is a bit of an anomaly in a sport that has been rapidly declining.

The death of horse racing has been linked to the increase in other forms of legalized gambling and frequents scandals over the abuse of racing horses. With slot machines and other legal gambling increasing, there is less appeal to horse races, especially for the younger generation. Many horse racing tracks have opened casinos next to or in them, and these have become the main source of income, especially at the lowest levels of racing. Horse racing as a legal gambling option just doesn't have the pull it once did.

And rise in concern over animal rights and the poor treatment of racing horses has also put the industry down. As horses have become worth less than the possible prizes, owners are more and more willing to just pump injured or old horses full of drugs and hope for the best. This can often result in horses collapsing during races and having to be euthanized. And with more and more animal rights organizations and increased public concern over animal rights, this has not made the industry very popular.

Yet somehow, even after the collapse of Eight Belles in 2008, the Derby has remained just as, if not more popular as it used to be. Nicholson of the New York Times says we should blame this on the "nostalgia" and "timelessness" of the race. It's traditions of hats, roses, and mint juleps have kept the race popular - especially in times of depression. Some of the highest attendance occurred during the Great Depression, after Watergate, and in 2011. So Nicholson argues that rather than try to update the sport to appeal to a younger generation, the industry should capitalize on the tradition of it all.

I think that while the tradition has certainly guarded the Derby from the decline experienced by other races, it is it's singular status that gives it that appeal. I don't want to watch more than one horse race a year. And tradition also cannot really be manufactured. While some horse races may be able to pull a few more visitors based on a traditional thing, these people are likely to go only for nostalgia, and not become regular fans. But fans of horseback riding still exist. Searching "horseback riding lessons" brings up almost 5,000,000 hits on Google. And in my experience, most people who take horseback riding lessons are young, and only the true enthusiasts keep with it through high school or even middle school. The fascination with pony rides has not stopped for young children. So, why not market horse races to a younger audience? The emphasis on gambling and alcohol would have to decrease sharply, but that's clearly not working for the industry. And on-track horse deaths would have to pretty much disappear, but that's likely going to have to happen anyways, with animal rights organizations paying an increased amount of attention to the industry.

What do you think? Can horse races survive in their current form? How can the industry rebuild itself?