Do we have a good grasp of what potential investors know and don’t know about harness racing?
TROT walked into an International Business trade show in hopes of finding out. By Melissa Keith
Equine Canada reported that in 2010, “The typical horse owner in the racing sector is male, from the baby boomer generation, and has been involved in racing for more than ten years.” This typical owner was usually well-educated (82% of owners had post-secondary education) and had horses living on his own property (58% of owners.)
As Canadian populations become increasingly concentrated in urban settings and many sectors have seen full-time employment replaced by precarious work (e.g. temp and contract positions, part-time positions and freelance work), fewer people fit Equine Canada’s profile of the statistically-average standardbred owner. Is it any wonder that not only are racehorse numbers in decline across North America, but the number of racehorse owners is falling too?
The 6th annual International Business Trade Show at the Halifax World Trade and Convention Centre posed an inviting opportunity to speak with businesspeople and the business-minded, about whether standardbred ownership ever crossed their mind. One might expect Halifax to yield a large group of potential racehorse owners on the basis of previous success stories: think Fresh Yankee, Somebeachsomewhere and Wakizashi Hanover. These stars represent proof that the one-horse stable and small-scale ownership group can succeed at the Grand Circuit level, even when the owners reside in Nova Scotia and start out with modest aspirations. Fresh Yankee, the first North American-bred trotter to surpass $1 million in earnings, was famously purchased for $900 and originally aimed toward a career at The Sydney Sports Centre in Cape Breton. It was debatable whether the crowd at the International Business Trade Show would know of the great mare, who trotted her retirement mile at Sackville Downs, N.S., or even the more recently-celebrated pacers Somebeachsomewhere and Wakizashi Hanover.
Gates l’Italien was the first person I informally quizzed about his interest in and knowledge of standardbreds. It turned out the Montreal resident was acquainted with horse racing, but not harness racing. “Actually, my best friend [Yves Turcotte] is a jockey and his brother is Ron Turcotte, the Triple Crown jockey,” he explained, adding he had never visited Hippodrome de Montreal before its demise. “I think [thoroughbred racing] is more my interest. It’s like the ‘free horse’ versus the ‘carriages’.” L’Italien had not owned a horse and had no plans to purchase one: “No, because of always city-living. It’s too far from where I’d have to go to visit it.” He liked horses and expressed interest in hands-on time with the animals, rather than entrusting them to faraway trainers and grooms. But even with his thoroughbred connections, one of the Harness Horse Youth Foundation’s “Harness Heroes” cards I brought along to illustrate standardbreds caught his eye. Picking up a card showing Intimidate, he remarked “That’s a beautiful horse!”
Jie Chen sat down with us. The visitor from Kun Ming, China, said she had no experience with or previous interest in horses. She did enjoy participating in sports like swimming, ping pong and badminton, but added that spectator sports held little appeal. Looking at the “Harness Heroes” images, she confessed to never having seen anything like harness racing. “I don’t think so, but maybe [they have it] in Hong Kong,” offered the visiting businesswoman, explaining that in southwest China, space was at such a premium that even pets were out of reach for many citizens: “You don’t have room for the animals.” Jie said she was unlikely to change her mind.
Bryan Richard was representing Credit Union Atlantic at the event. Our conversation began on a promising note. He had not owned or thought about owning a racehorse, but he had been to a racino. “The only racing experience I ever had was last year, I went to the racino in PEI [Red Shores Charlottetown] with a bunch of golf buddies,” he laughed. “A bus showed up at one of the lodges. We rented the bus.” The racetrack experience was confined to “just the casino aspect” for Richard and friends. “I don’t know anyone who owns horses in this province,” admitted the Antigonish, N.S.-raised commercial credit officer. “My fiancé is from Alberta and had a couple [of horses] growing up, but not this,” he said, checking out a card depicting Bee A Magician pulling what he (like Gates l’Italien) called a “carriage.”
“We did the [Calgary] Stampede last year—it was very cool!” he continued with enthusiasm. “We watched the chuckwagon races on TV. The whole Stampede experience was intense!” Richard said he was unaware that harness racing happened anywhere in Nova Scotia, although he recalls seeing a training track in Antigonish when he was a child. “I can see it being in the rural areas,” he added after learning that pari-mutuel facilities operate seasonally at Bible Hill, Inverness and North Sydney. “Maybe the money is around here [Halifax], but not the resources [e.g. land, facilities].”
Interestingly, he said the credit union would not be averse to helping investors finance a racehorse purchase. In fact, the proposal would be treated no differently than any other kind of loan application: “I’d go through the same thing. We’re all about risks -- we’re ‘riskier’ than the banks!” he confirmed. “When we lend, it’s based on how you would do without that business or that horse. There has to be a back-up plan.” That “back-up” could be personal assets or other sources of income, said Richard; whether opening a café, applying for a mortgage, funding a start-up or buying a racehorse, all borrowers must demonstrate the ability to repay their loans.
I handed him the Foiled Again card, casually letting him know about one pacer who doesn’t need a back-up plan. “This horse has earned over $7 million and is still racing.”
“Wow!” Eyeing the likeness of the glossy gelding in full flight, Richard described the conditions under which he might, just might, consider buying in on a standardbred. “I wouldn’t want to take it over myself,” he reasoned. “If I knew there was a good trainer working with the horse, I’d consider getting in on it. You’d have to have a little less risk.” When I told him about the minimal outlay and exciting potential of the stakes colt of which I am part-owner, he looked genuinely intrigued by the possibilities and risk:benefit ratio.
Lessening the risks of equine ownership was also a theme with Lynne Hoeg, a former Montrealer now living in Halifax. The realtor mentioned watching popular racing-themed films like Secretariat and Seabiscuit, and before subscribing to Netflix, seeing a few televised races: “I know there’s a cup -- Preakness or something -- on TV, but I’ve never watched the full thing.” A former recreational horseback rider, she was sidelined by a knee injury 10 years ago. If she had a financial windfall, she “would seriously consider a riding horse,” she admitted. “Just maintaining a horse is no small feat -- it’s not chump change!” Racehorse ownership did not appeal to her because of the gambling element.
Harness racing was unfamiliar territory for Hoeg. Looking at the Foiled Again card, she was impressed on a few fronts: “Who knew? I always associated racing with younger horses! And I had no idea there was that much [purse] money involved.” Pointing at Yannick Gingras in the sulky, she added “That looks very dangerous!”
Blake Wilson, managing director of a brokerage group, told me he had “no background, no interest” in horses, then laughed because his brother’s ex-partner had owned pleasure horses. “I didn’t even know there were places you could go for that,” he mused, in either Nova Scotia or his previous hometown, Vancouver. “I’m not heavy into following sports and not interested in owning a horse -- it’s just not my thing,” said Wilson; as a small business owner and father of a five-year-old girl, he felt he had enough on his plate without a new hobby. Despite growing up in the Halifax region, he confessed he had no idea that the area had once been a hub of East Coast harness racing. “I didn’t even know what harness racing was. Sackville Downs does ring a bell -- I assumed it was riding. I hadn’t seen one [a sulky] before,” he said, studying the Harness Heroes cards. “I learned something today.”
Two Halifax Central Library employees shared their views next. “I used to go to horse races in St. John’s, Newfoundland, when I was small,” reminisced Maureen Collier, a library manager. “I was there for the French fries. I can still hear the announcer: ‘It’s post time!’ on a Saturday afternoon. But I’ve never seen anything here.” The various demands associated with racehorse ownership were a turn-off to her: “The ongoing expense, and it would require a great deal of your time and attention.” Her parents liked to bet, but Maureen was never interested in that angle. She was surprised that there was any racing left in Newfoundland, less than shocked to hear the St. John’s track closed in 2015: “It’s unusual for any business to carry on that long.”
Her colleague Julia Khodos, a librarian, had never seen live racing, although she recalled it being “sometimes on the news.” An animal-lover, her interest in horse ownership was stymied for familiar reasons. “If a friend or relative had a horse, maybe I’d help in the barn, to take care. It’s a lot of work, so not on a regular basis,” she offered. “If I had a lot of money, maybe I would be interested in that but I have a dog and cat, and with vet bills, everybody knows it’s a lot of money.”
Jim Hanifen was the only interviewee with any real knowledge of harness racing. A “Halifax-born and raised” managing partner of a financial group, he grew up watching live local racing: “I remember when Halifax had two racecourses. For the Halifax one, I was a bit young, but I remember seeing the trotters trot around by the post office on Almon Street, and later Sackville Downs.” Never a racehorse owner, he said “horse racing is usually in the blood” of active participants, while he’s “just always had a fascination with pretty horses.” Travelling for business brings the baby boomer to harness tracks like Red Shores Charlottetown on occasion -- he noted he will attend even if it’s a non-race day, simply to watch horses train.
“I know people who bought horses,” Hanifen continued. “One in Charlottetown and a guy out west who rescued a horse from the glue factory for $250. The horse raced for another five or six years!” No Harness Heroes cards were required for this obvious fan: “I remember ‘Somebeach’! He won 90 percent of all his races. He only lost one!” Hanifen is disappointed at Truro Raceway’s lack of promotional inroads in the city, where the bulk of Nova Scotia’s population is found. He does not attend races at the Bible Hill half-mile, because he dislikes the insularity: “It should be marketing ‘a day out at the track’.” Hanifen can’t really explain why he’s never owned a racehorse, other than viewing his own involvement in the game as that of a spectator. He’s content in that role.
Nearing the end of the event, David Wilson, a local small business owner, was willing to talk standardbreds. “I’m from Quebec originally,” he began. “Not close friends, but our neighbour had work horses on his farm. It never piqued my interest -- I’m a horsepower guy, not a horse guy!” The owner of Bedford House of Auto Details said his family had a farming background; he had ridden horses and watched some live harness racing. “I’ve seen a bit at country fairs. Brome Country Fair, when I was a kid,” he told me, before remarking that Nova Scotia harness racing was all but invisible. “Does it even go on here? We went to an antique car show there [at Truro Raceway] and cars were parked on the infield.” Wilson admitted that with two young daughters and a new business, “even if it was a race car, I wouldn’t be interested [in ownership] now.” Despite a passing familiarity with the sport, the entrepreneur said he was too busy to commit to a leisure activity like racing. “If you hadn’t reminded me, I wouldn’t know it happened, but I’m not in a circle of people who are into it,” he explained. “I’d probably watch if a friend invited me.”
Wilson’s daughter appeared at the table as her father said “Dihlan does like horses.” I managed to ask the girl one question: “Why do you like them?”
“’Cause they’re fast!” she laughed, turning on her heel and sprinting away.
Originally, I had hoped to explore the topic of standardbred ownership in greater depth with the trade show audience. I wanted to delve into questions such as what they would be willing to spend to own a racehorse in full or in part, and whether they would prefer to buy a yearling, a ready-made racehorse or even start from scratch with a broodmare. But what I encountered was a widening gap between the public and the most basic awareness of harness racing, making the question of what it might take to win them over to ownership a more complicated matter. Several people told me that this form of racing was something they didn’t think existed in 2016, or it was something for people with high disposable income and high risk tolerance, not average working Canadians. As a betting person, my money would be on Bryan Richard and Jim Hanifen as the most likely to explore standardbred ownership, albeit only with the encouragement of one or more business partners. Both men showed enthusiasm and interest, both had some acquaintance with racetracks as adults, and neither expressed an aversion to the gambling aspect of racing.
A common theme among the self-described “animal-loving” people was that they wanted a hands-on experience with horses, not long-distance ownership primarily characterized by training bills. Two women mentioned a distaste for the concept of betting on horses. Talking about the earnings of the Harness Heroes evoked strong positive responses from almost everyone; several people also spontaneously remarked on the beauty of the racehorses. However, immediate financial demands (city living, pets, young businesses, young families) and a lack of time, kept the animal-lovers at bay. There was also no Halifax-area track available to even visit anymore, and most interviewees were unaware that Truro Raceway, the nearest harness venue, still operated as a racetrack. The specifics of buying a standardbred (price, age, gait, sex, bloodlines) are not something that mattered to this audience; proximity to a racetrack with well-publicized opportunities to meet the horses was more appealing to them, and perhaps a starting point.
As costs rise and public awareness dims, the fate of harness horse ownership in Nova Scotia and elsewhere depends on making standardbreds as accessible as possible, in both the promotional and financial sense. This is the province in which Lambert Todd became North America’s first-ever “community horse” in 1929, the year the champion pacer was purchased by residents of Reserve Mines, Cape Breton. Racing historian Professor Jim Hawley has documented how Lambert Todd was the catalyst for other community horse purchases and rivalries: “The idea was a simple one, as most good ideas are. Whole communities would come together, form horse clubs and for a very small outlay of money ($1.00 - $5.00) become a part owner of a racehorse and share in the dividends (or losses) of the horse's earnings. The number of fans who turned out to see these ‘community stars’ race [was] huge, 4,000 at Inverness, 3,000 at Antigonish, 4,500 at Sydney and 4,000 at Halifax.”
The International Business Trade Show’s founder, Nikki Jafari, informed me that neither she nor the show had ever had any association with harness racing. Even asking her the question seemed somehow out of place at the downtown event, as if I had been asking permission to bring a horse into the trade show. Yet a trotter or pacer can provide a business investment, a hobby for business partners and friends to enjoy together, or simply a means for stressed-out urban workers to unwind, whether in the jog cart or the grandstand. If familiarity breeds contempt, the relative unfamiliarity of the racing standardbred to this audience might breed the kind of marketing opportunities that ultimately, literally, breed more standardbreds.
