We received an e-mail from the Virginia Thoroughbred Association informing us that there is currently a major dispute involving the Internet wagering in Virginia that could affect the Virginia Breeders Fund. In short, Colonial Downs says that they don't own any money to the Fund from wagers collected through Internet betting. VTA says yes they do. It would not be so much of a crisis except that the Breeders Fund has been spent to pay out higher bones to Virginia-bred horses racing at Colonial Downs in 2008.
I am not sure who I am more mad at: Colonial Downs for not paying or the VTA for blowing all the money on the owners of Virginia-bred horses, while leaving nothing for the breeders themselves. This does effect us a little as we are due money for Perfect Pet's success.
It would seem that Colonial is reneging on their licence. In order to take bets over the Internet, you had to get an licence from the Virginia Racing Commission and work out a deal with Virginia horsemen on how much money was going to the horsemen. I am not sure why tracks across the country are taking such a hostile stance towards the horsemen in 2008 and Colonial is just continuing the trend.
On the other hand, there was this line from Glenn Petty, executive director of the VTA, in the e-mail yesterday: "If [Colonial Downs] would agree to the .08% and 50/50 split the VTA has been advocating for four years, the Breeders Fund share would be $320,000...." IF??? IF??? I thought they DID??
Either way,there is a bigger problem at hand. The fact of the matter is that the Virginia Breeders Fund is not set up to benefit the breeders. It should be renamed the "Virginia Owners Fund." It pays a 100% bonus to owners of Virginia-breds during the Colonial meet. To the breeders, it pays only 1% of the horse's share of the purse...when the horse wins. Anything less, an the breeder get nothing. If Perfect Pet were a Kentucky-bred, we the breeder would be getting close to a $1,000 in bonuses. Instead, we are getting about $150...that is, if this dispute gets resolved favorably. We have been warned we might get $0.