NTRA Report Points to Steady Organization

One of the highlights of the National Thoroughbred Racing Association annual report for fiscal year 2015-2016 is the feedback generated in its efforts to update rules on reporting and withholding of big pari-mutuel winning tickets.

The effort, which would change how wagering levels on winning exotic tickets are defined, continues to make progress in 2016. In opening comments from NTRA president Alex Waldrop in this year's annual reports, he notes the public support in 2015 that helped push the initiative along.

"We at the NTRA will remember 2015 as the year the industry rose to the challenge and submitted more than 11,000 comments to the U.S. Treasury and Internal Revenue Service in support of the NTRA's tax mondernization effort," Waldrop noted.

Under the plan, the total wagers contributed on a ticket will be used as the starting point of determining reporting or withholding of big scores. A $1 box ticket with 12 combinations would be considered a $12 ticket rather than 12 $1 tickets. With supportive language from both the U.S. House and Senate in appropriations bills, the efforts continue to progress.

"If successful, our effort to end the antiquated practice of reporting and withholding pari-mutuel winnings as if all bets were still, win, place, or show bets will result in millions of dollars in additional pari-mutuel handle annually," Waldrop said. "This will benefit not only horseplayers, track operators, owners and trainers, but also federal and state governments."

The 28-page report includes the organization's audited financial statements. For fiscal year 2016, covering the period Feb. 1, 2015 through January 31, 2016, the NTRA's net revenue was $116,669, which represents the fourth straight year of sustainable financial results for the organization. Operating revenues were down 2.3% to $9,354,736 but operating expenses were reduced, resulting in the positive net revenue.

Other efforts by the NTRA for the industry highlighted in the report include: securing a two-year renewal of accelerated depreciation for young racehorses and another year of record participation in the Daily Racing Form/NTRA National Handicapping Championship presented by Racetrack Television Network and Treasure Island Las Vegas.

The annual report also includes information on the NTRA Safety and Integrity Alliance, NTRA Communications, the Eclipse Awards, NTRA Advantage, and additional legislative advocacy. The Safety and Integrity Alliance has accredited racetracks representing 70% of U.S. handle. 

"While the Triple Crown and American Pharoah's subsequent 'grand slam' win in the Breeders' Cup Classic (gr. I) last fall were unfolding, the NTRA continued to advance the interests of Thoroughbred racing and breeding," Waldrop said. "We did so by connecting hundreds of industry organizations and thousands of individuals through a wide array of programming, support, and advocacy efforts where we are able to find commong ground and a shared purpose."