This survey was designed to determine the level of understanding the stakeholders and other interested parties have of the racing industry in terms of its regulation and promotion. The average of the correct responses in this survey will determine the individual or collective understanding of the industry.

Please note that the analyses and answers here are informed by statistical data from the Jamaica Racing Commission (JRC) and the Betting Gaming and Lotteries Commission (BGLC) Annual Reports, as well as Financial Statements from previous promoting company, Caymanas Track Limited (CTL), and now Supreme Ventures Racing and Entertainment Limited(SVREL).

Question: What is the most important commercial aspect of the racing industry?

Answer: The economic viability of the promoting company. This can only be achieved with an uncomplicated racing product capable of delivering real growth in the customer base commensurate with the increase in population over time. A claiming system formatted product cannot achieve this objective, and predictably, it has failed in Jamaica, the USA, Canada, and jurisdictions in the Pan American region. The alternative handicap system flourishes in Europe, Asia, the Middle and the Far East and has now been launched in the USA by the Jockey Club.

Question: Is owning racehorses a business or a sport/hobby?

Answer: It is not a business. When all expenses are accounted for, only 0.5 per cent of owners make a marginal return on their financial outlay; therefore, ownership of racehorses is a sport/hobby.

Question: Who owns the local racing product, and who owns the simulcast revenue stream?

Answer: The local racing product is owned by the stakeholders, with marketing being the responsibility of promoter SVREL. The simulcast revenue stream is that of the promoter.

Question: What is the size of the existing horse population for racing?

Answer: The horse population is around 800, divided into 19 categories, resulting in 20 per cent smaller field sizes in the claiming format and consequently a 20 per cent underperformance in sales turnover estimated at $1.5 billion annually. Divided by a handicap system into seven classes with claiming tags, which has been available since 2013, will reverse this immediately.

Question: How many types of wagers does the promoting company offer?

Answer: The promoting company offers only two types of wagers: Win and Place. Most respondents got this wrong, as it is not recognised that, apart from single bets to place, all the other 13 options are win bets, including quinielas, doubles, trifectas, superfectas, and high fives, etc. In the first three years of operation, SVREL’s race cards of 2,299 had 1095 odds-on favourites and another 286 only at even money. In 2024, the 755 races had 389 odds-on favourites, and in 2025, by August 28, it was 433 races with 197, all effectively discouraging wagering. By the way, the 2022 calendar completed 855 races, which declined to 755 in 2024.

Question: Is handicapping of races a Jamaica Racing Commission regulatory function?

Answer: It is as stated in the JRC 1977 Racing Rule 33. However, the Jamaica Racing Commission Board ceded this, one of the most important responsibilities, to the promoting company in 1993 with disastrous unintended consequences. None of the operatives engaged since has had a full understanding of the British Horseracing Authority handicapping methodology and its importance in maximizing wagering. All were and are unaware that the allotted weights is the major influence on the betting decisions of the punters.

Question: What were the 1992 premises of changing from a handicap to a claiming system?

Answer: Despite spectacular growth under the handicap system, it was deemed by the uninformed proponents of the change to lack integrity with prevalent corrupt practices(race-fixing), and also, that the trading of horses in a claiming system could be a viable economic activity. Both premises were flawed as the bookmaking industry flourished, and all of those who believed the activity could be profitable only became big losers.

Question: What has resulted in smaller field sizes since 1993 under the claiming system?

Answer: Based on ability, the then horse population was divided into seven classes, but was divided into 25 artificial categories without the form being equalized through genuine classification to drive betting. With races projected for sprints, middle, and longer distances, effectively, this was even a further subdivision of the 25 categories.

Question: What was the annual growth rate of the number of race meets and races before the claiming system?

Answer: From 29 race meetings in 1960, the racing calendar peaked at 84 in 1992, at an annual average of 10 pe cent with 115 declarations per day, competing in an average of between 11 and 12 races on each race card. The horse population stood at around 1100.

Question: When and why did the promotion of local horse racing become profitable?

Answer: When the digital tote platform was established in 1989 to maximize sales turnover. There was significant growth over the succeeding three years. Before this, the bookmakers had a 60 pe cent share of the market, but it was flipped completely during 1992. (Rudolph Muir Divestment Report). The digital tote platform also enabled the promoting company to conduct profitable simulcast wagering on races held outside of Jamaica.

The appropriate representative of each of the following entities: the JRC, the Thoroughbred Owners and Breeders Association (TOBA), the United Racehorse Trainers Association of Jamaica (URTAJ), and SVREL, has a specific responsibility to react to the facts presented here.

In fact, an obligation to explain to the sitting minister of finance and to the general public why this gaming product required US$40 million in cash injection and tax write-offs to remain operational before triggering the IMF-dictated divestment in 2017.

Also, against the background of the spectacular $149 million and $98 million losses by CPL in 2012 and 2013, respectively, and now the 2017 SVREL has accumulated a $385 million loss as of December 31, 2024. There is no question that the claiming system racing product model has to be hopelessly flawed in all respects.