Updated:2025-01-25 03:29 Views:180
Drone shot of Racehorses inside the starting gate getting ready to run (Courtesy of MMTCI)
The horse racing industry in the Philippines is undergoing an exciting transformation, largely due to effective management from the Metro Manila Turf Club Inc. (MMTCI) and its partnership with the Philippine Racing Commission.
Recent statistics reveal a remarkable rise in daily betting sales, a sign of revitalization after years of struggle, particularly during the COVID-19 pandemic.
Article continues after this advertisementDuring the first eleven racing days this year, total gross sales skyrocketed to an impressive P319.8 million, averaging around P29 million per day. This starkly contrasts with the downward trend seen in previous years, especially when looking back at 2016 when three racetracks managed only P23.1 million across six racing days each week. By 2020, the industry’s decline reached a troubling low, but a strong recovery brought in P2.3 billion by 2022.
FEATURED STORIES BUSINESS John Hay Golf Club disputes BCDA’s ‘sabotage’ claim during takeover BUSINESS PSEi manages small gain on bargain-hunting BUSINESS MMTCI-Philracom revs up horseracing’s comebackDespite the unfortunate closure of two racetracks — Santa Ana Saddle Club and San Lazaro Leisure Park — it would be shortsighted to view the industry as failing. Thanks to MMTCI’s innovation and commitment to improvement, the environment for success has never been better.
A significant reduction in documentary stamp tax from 20 percent to 10 percent has allowed the industry to reap unprecedented rewards, with average net prizes for top winners now reaching P182,630.75 — far exceeding the previous range of P40,000 to P45,000 just a few years ago. Notably, a recent first-place net prize of P204,750.15 exemplifies this remarkable advancement.
Article continues after this advertisementIf current trends continue, MMTCI is on track to surpass the historic sales figures of P7 billion recorded in 2016 and 2017, achieved with three racetracks operating over 312 racing days. Projections suggest that in this year alone, MMTCI could hit a phenomenal P6.02 billion. And the earlier benchmark, MMTCI and a boost from the upcoming racetrack, Philippine Jockey Club, would both achieve an astounding potential sales of P9.07 billion for this year.
Article continues after this advertisementAtty Narciso O Morales, Chairman President, Metro Manila Turf Club Inc. (courtesy MMTCI)
This growth is not a happenstance; it is the result of purposeful changes instituted by MMTCI’s Chairman and President Atty. Narciso Morales. The organization has closely monitored jockey performance, upheld professional handicapping standards, and greatly enhanced broadcasting capabilities using advanced IT systems and drone technology. These enhancements not only boost the spectator experience but also ensure transparent and fair practices within the sport.
Article continues after this advertisementAdditionally, significant investments have been made to improve facilities—from state-of-the-art emergency care vehicles to beautifully landscaped tracks—turning MMTCI into a prime destination for both avid bettors and casual visitors alike. Every aspect of MMTCI works cohesively to foster an engaging and dynamic racing environment.
In terms of accessibility, the introduction of a seamless betting system integrated with GCash, along with multiple off-track betting stations throughout Metro Manila, Luzon, Visayas, and Mindanao, has revolutionized how fans interact with horse racing. With easy access to online betting options, the fan base has expanded, resulting in increased participation and economic growth for the industry.
Article continues after this advertisementPhilracom chairman Reli de Leon (from Philracom Facebook page)
As we reflect on the journey of horse racing sector this new year, it is clear that MMTCI’s President Morales’s leadership, coupled with correct support from newly extended Philracom chairman Aurelio de Leon, is steering the industry toward greater heights. Each day reinforces the belief that when effective management meets passionate community support, success is inevitable.
However, MMTCI and the industry will need to contend with the entry of a new racetrack Philippine Jockey Club in Padre Garcia, Batangas, which is facing delays due to various challenges. Can this new entity keep up with this unprecedented momentum of horseracing?
Looking forward, there is hope for an even more vibrant horse racing landscape in 2025 and beyond.
DBP board director Roberto Antonio said they plan to implement the Agri-Puhunan at Pantawid (APP) in parts of Luzon, and eventually in the Visayas and Mindanao, following its launch in Guimba town in Nueva Ecija province.
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