Is Portnoy the Spartacus that horseplayers need in the war against CAWs?

Portnoy, who traces his horse racing passion back to trips to Suffolk Downs and Saratoga as a child, had sprinkled in a few tweets during the Saratoga meet about low-paying exactas but Sunday’s post appeared to be a call to action and the first from a prominent figure on the situation. Perhaps the voiceless have found their voice.

Portnoy’s fandom has also grown into ownership, as he recently started his own stable of all grey horses, Go Go Greys Stable. Portnoy’s first runner, Miss Watermelon, finished seventh on debut at Keeneland earlier this month. On Monday, Wondergirl Carly is set to debut for Portnoy and trainer Lindsay Schultz at Parx.  

In its rudimentary form, CAW play can be boiled down to groups that use algorithms and software to place large wagers, typically with very little time to post but allegedly not after the gates open. Those wagers often create dramatic odds changes that can happen at the gate or during the race. These groups have the power to place large amounts of wagers, dwarfing the power of the retail player. 

Some figures point to CAWs accounting for a third of total handle in the United States but it’s possible that number could be closer to half. According to The Jockey Club, handle from non-CAW customers is down two-thirds in the last two decades. 

Certain tracks like the New York Racing Association, and more recently Del Mar, have taken steps to aid retail players. Both are currently preventing CAWs from betting into the win pool past two minutes to post. While the odds drops may still happen, it gives retail players an opportunity to adjust their bets or make other decisions. The Breeders’ Cup, which is being held at Del Mar on Oct. 31 and Nov. 1, will not have any type of cutoff in the win pool.

CAW play has clearly caused an issue for the retail horseplayer but finding a solution is easier said than done. In his posts, Portnoy offered a few solutions: a five-minute cutoff in the win pool, newer, more creative betting, and political intervention.

A five-minute cutoff would probably be a bit of an exaggeration but the point of offering something to the horseplayers is important. If anything, any change would be an optical win for everyone involved. Portnoy offered fantasy-style betting and head-to-head betting as an option and that would definitely appeal to younger fans. The younger generation is drawn to the ease and creativity of major sports betting, something that horse racing can benefit from. Monmouth Park began offering fixed odds three years ago. 

Political intervention would be the only way to enact real and longstanding change. As Portnoy pointed out, some tracks own or partner with CAW groups. Portnoy called it “insider trading” and whatever it is, it’s definitely fishy. 

It’s well known that horseplayers are considered the least important aspect of the sport, at least in the eyes of those that make decisions. No matter how many HRX users get on their soap boxes and scream about change and show the odds changes, it’s pretty clear that decision makers aren’t listening. It’ll take somebody with a voice to really enact change. 

Portnoy has some successful form lines in his past performances when it comes to these types of battles, as he continues to battle the NFL and commissioner Roger Goodell. If he wants to take on this battle, Portnoy can be the gladiator that the horseplayers need.  

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