Hazy future for India horse racing

    Published in: Latest IntelligenceOn the surface, Indian horse racing is growing strongly. Annual betting turnover rose 53.2 percent to ₹30.25 billion ($498.5 million) between 2006 and 2011, according to figures provided to the International Federation of Horseracing Authorities. The annual number of races run rose 28.2 percent to 3,312 over the period.But there are signs of disquiet. “There haven’t been many new owners or a younger crowd for that matter in recent years,” says Zeyn Mirza, managing director of United Racing and Bloodstock Breeders, a stud farm in southern India. “Youngsters today have other avenues to spend their money on.”No new tracks have opened in years and government officials are moving to take over landmark tracks in Mumbai and Bangalore to convert the prized open urban land to other uses. Archaic management systems and an elitist culture have contributed to the difficulties. Meanwhile, the widening bet-fixing scandal enveloping...

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