Purse Money Is Up at Pimlico as 2006 Spring Meet Opens

A dramatic surge in wagering on its simulcast signal this past winter and a reduction in total yearly racing dates from 220 to 180 has allowed the Maryland Jockey Club to substantially increase purse money for the spring meet at Pimlico Race Course, which begins today.

The compact 31-day meet is highlighted by the $1 million Preakness Stakes, the second leg of racing's Triple Crown, and features 27 stakes races worth a total of $4.45 million.

Money bet out of state on Laurel Park winter meet races soared from $118 million in the same period last year to $183.1 million, a 55.1 percent hike, according to figures made available yesterday.

In-state wagering on the Laurel meet, which ran from Jan. 1 through April 17, also showed improvement, climbing 6.6 percent from $19.4 million during the winter meet in 2005 to $20.7 million. Overall, wagering for the meet rose 23.6 percent to a total of $321 million.

As a result, Laurel Park President Lou Raffetto and the leadership of the Maryland Thoroughbred Horsemen's Association agreed to raise purse money for the 31 days of live racing at Pimlico during the state racing industry's marquee meet.

Track owner Magna Entertainment "invested millions of dollars in a new racecourse [at Laurel Park] that allowed us to have a state-of-the-art turf course that allowed us to reclaim our old fans," Raffetto said. "Our fields were larger than at most other major jurisdictions. We hope we can continue that trend into the Pimlico meet."

The Pimlico racing office has no problem filling turf races so the purse hikes are exclusively for dirt events. For example, maiden special weight turf races will continue to be worth $26,000 while their dirt equivalents will rise to $30,000. Horses racing on dirt at the $16,000 claiming level will compete for $24,000 purses, up from $18,000 last year.

Pimlico, which averaged $173,000 in daily purses last year, now will offer approximately $215,000 per day.

Also helping the purse structure, Raffetto said, was the decision to cut back to a four-day schedule at Pimlico, which will race live from Thursdays through Sundays.

While the Maryland tracks appear to be gaining solid financial footing, Raffetto cautioned the well being could be temporary. Nearby Philadelphia Park and Penn National are expected to begin installing slot machines on their grounds sometime next year, fueling purses that likely will double those offered in Maryland.

"There has been a lot of money invested in the Laurel courses to win the customers back," Raffetto said. "But this isn't necessarily going to continue going forward. Realistically, Pennsylvania [getting slots] is right around the corner."

Racing Notes: For the first time, Pimlico will offer a Pick 6 wager this year on races 5-10. The bet has a 25-cent base value designed to lure horse players with small bankrolls. The takeout is 25 percent. The track will continue to offer its Pick 4 wager on races 4-7 with a 14 percent takeout . . .

The first major race card is the Spring Festival of Racing on Saturday, which features four stakes races worth $525,000. Highlighting the day is the $150,000 Federico Tesio Stakes, a 1 1/8 -mile dirt race for 3-year-olds and a local prep race for the Preakness.

The race has attracted Our Peaks, a colt trained by Katherine Voss that upset the $85,000 Private Terms Stakes at odds of 73-1 on March 25 at Laurel Park. Our Peaks again will be ridden by 18-year-old apprentice Anna Rose Napravnik, the seventh-leading rider in the country.

The $200,000 Jim McKay Breeders' Cup Handicap, also scheduled for Saturday, drew only four entries and was canceled.