Introduction to Saratoga Race Track
The Saratoga Race Track is a thoroughbred horse racing track located in Saratoga Springs, New York. It is one of the oldest racing tracks in the United States, having opened in 1863. It is also one of the most prestigious and well-known in the country, hosting the Travers Stakes and the Whitney Handicap, two of the nation’s most important races. The track is open for racing from late July to early September each year and is home to the popular Saratoga Race Course meet.
History of Saratoga Race Track
The Saratoga Race Track was first opened in 1863 by John Morrissey, a New York politician and former bare-knuckle boxer. The track was an immediate success, and by 1864 it was hosting the first-ever race for the Travers Stakes. The track has been continuously in operation ever since, hosting some of the nation’s most important races and drawing thousands of spectators each year.
How Much Money Does Saratoga Race Track Make?
The Saratoga Race Track makes a considerable amount of money each year through ticket sales, betting, and other sources of income. According to the New York Racing Association, the total gross handle (amount wagered on races) at Saratoga was $716 million in 2019. This was a 3.9 percent increase from 2018, when the gross handle was $689 million.
Ticket Sales
The Saratoga Race Track makes a considerable amount of money from ticket sales. According to the New York Racing Authority, the total ticket sales at Saratoga in 2019 was $15.6 million. This was a 10.6 percent increase from 2018, when the ticket sales totaled $14.1 million.
Betting
Betting is the main source of income for the Saratoga Race Track. According to the New York Racing Association, the total betting (or gross handle) at Saratoga was $716 million in 2019. This was a 3.9 percent increase from 2018, when the gross handle was $689 million.
Sponsorships and Advertising
The Saratoga Race Track also makes money from sponsorships and advertising. According to the New York Racing Association, the total amount of sponsorships and advertising at Saratoga in 2019 was $7.2 million. This was a 10.2 percent increase from 2018, when the total amount of sponsorships and advertising was $6.5 million.
Earnings From Horse Racing Purses
The Saratoga Race Track also makes money from the purses awarded to the winning horses in each race. According to the New York Racing Association, the total amount of purses awarded at Saratoga in 2019 was $41.2 million. This was a 3.2 percent increase from 2018, when the total amount of purses awarded was $39.9 million.
Food and Beverage Sales
The Saratoga Race Track also makes money from food and beverage sales. According to the New York Racing Association, the total amount of food and beverage sales at Saratoga in 2019 was $12.5 million. This was a 2.5 percent increase from 2018, when the total amount of food and beverage sales was $12.2 million.
Merchandise Sales
The Saratoga Race Track also makes money from merchandise sales. According to the New York Racing Association, the total amount of merchandise sales at Saratoga in 2019 was $3.8 million. This was a 1.3 percent increase from 2018, when the total amount of merchandise sales was $3.7 million.
Notable Races at Saratoga Race Track
The Saratoga Race Track hosts some of the nation’s most important and prestigious races. The two most notable races are the Travers Stakes and the Whitney Handicap.
The Travers Stakes
The Travers Stakes is the oldest and most prestigious race at the Saratoga Race Track. It is a Grade 1 stakes race for 3-year-old thoroughbred horses and is one of the oldest continuously-run stakes races in the United States. The Travers has been run at Saratoga every year since 1864 and is often referred to as “The Midsummer Derby”.
The Whitney Handicap
The Whitney Handicap is another prestigious and important race at the Saratoga Race Track. It is a Grade 1 stakes race for older horses and is one of the most important races for older horses in the United States. The Whitney has been run at Saratoga every year since 1929 and is often referred to as the “Race of Champions”.
Conclusion
The Saratoga Race Track is one of the most prestigious and well-known thoroughbred racing tracks in the United States. It has been in operation since 1863 and hosts some of the nation’s most important races, such as the Travers Stakes and the Whitney Handicap. The track makes a considerable amount of money each year through ticket sales, betting, sponsorships and advertising, purses, food and beverage sales, and merchandise sales.