Horse Racing Decline and Betting Evolution

Horse racing, along with boxing, has faced a decline in cultural significance over the years. Racing communities attribute this decline to various factors, including the ability to now bet on a wide range of sports and activities beyond traditional racing. The impermanence of horses' careers and concerns over medication use have also played roles in dampening interest in the sport. Despite these challenges, the Kentucky Derby continues to draw massive TV ratings and attendance, indicating its enduring popularity.