California simply needs a better product: This drop in handle shows that the market is not buying the short-field product.
California Handle Down Again in 2010-11 | BloodHorse.com
Total handle — the amount wagered on horse racing in California and bet in other racing jurisdictions and merged into state pools — declined by more than $537 million over the previous year, according the California Horse Racing Board’s annual fiscal report.
The total dipped to $2.90 billion for the fiscal year ending June 30, 2011, a 15.6% drop from the preceding 12 month’s total of $3.44 billion. Total pari-mutuel handle has plummeted by nearly $1.5 billion since 2007-08, when about $4.39 billion was wagered.