NTRA Report Notes Commitment to Horseplayers

In its annual report released July 15, the NTRA noted strides it made in the past fiscal year to work with horseplayers to improve horse racing.

In the report, NTRA president Alex Waldrop notes the organization's addition of a horseplayer to its board of directors, a record year for the Daily Racing Form/NTRA National Handicapping Championship, and its legislative efforts to clarify how pari-mutuel winnings are calculated for tax purposes.

"Providing horseplayers with a voice on the NTRA board makes perfect sense because pari-mutuel wagering fuels every aspect of our sport," Waldrop said of the addition of 2001 NHC winner Judy Wagner to the board. "It also sends a clear message that the NTRA board recognizes and appreciates the important role horseplayers and fans play in supporting NTRA programs such as legislative advocacy in Washington, DC, NTRA Advantage sales, the NTRA's Safety and Integrity Alliance, and of course, the NHC.

"Indeed, the horseplayer has always played a central role and been a key focus of many NTRA initiatives."

The NHC saw a record field of 606 entrants and record prize money of $2,363,000 when it was contested in January 2015. 

In Washington, the NTRA has helped lead the charge to clarify that multiple wagers into an exotic pool; for instance a $1 trifecta bet that includes 10 different wagers and costs the player $10 for the ticket, should be viewed as a $10 wager when determining thresholds for tax reporting and withholding. If approved, the NTRA estimates that change would generate hundreds of millions of dollars in additional pari-mutuel handle.

For the fiscal year, NTRA reported $9,054,558 in total revenue,s with $7,380,402 (81.5%) being generated by programs. Only $1,124,266 (12.4%) was generated by member dues with a final $550,000 from the legislative action campaign.

The NTRA reported that $4.25 million was spent on marketing and promotions, $2.36 million on NTRA Advantage, $754,241 on legislative, $404,896 on the Safety and Integrity Alliance, and $277,738 on communications. Just under $1 million was spent on general and administrative expenses.

The 30-page report includes the organization's audited financial statements. For fiscal year 2015, covering the period Feb. 1, 2014 through Jan. 31, 2015, the NTRA's net revenue was $93,228, which represents the third straight year of financial stability for the organization.