HOW BOUT $435 MILLION?To wit, from the Fiscal Times:
By the numbers, the Derby takes place on a grander and grander scale. Its economic impact on this old river city was at least $217 million, according to a study by Wilkerson & Associates in 2001, the last year the study was done. That’s a number economists here say has doubled over the past ten years.
In 2009, for example, 153,563 people gathered beneath Churchill Downs’ iconic twin spires on Derby Day and bet $21 million. Throw in the wagers that came in from far-flung tracks, off-site betting parlors and online, and $155.9 million was bet on Derby Day that year, $104.5 million alone on America’s greatest race.
The numbers were even higher in 2010. Last year a record crowd of 155, 804 was on hand, despite inclement weather early on, and total wagering from all sources, including on-track and off-track betting, was $112.7 million, a 7.8 percent increase from 2009.
And how much did Mine That Bird pay for a $2 bet?
More than $127 million was paid out to those holding winning tickets for Mine That Bird. There weren’t many of them: The gelding went off at stratospheric odds of 50-1, which meant he paid $103.20 for a mere $2 bet. Last year Super Saver went off at odds of 8-1 and paid $18 for a $2 win ticket.
We'll see what happens this year.
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