653. Does Horse Racing Have a Future?

In this episode of Freakonomics Radio, Stephen Dubner explores the economics of thoroughbred racehorses, focusing on the Keeneland September yearling sale in Lexington, Kentucky. The episode features interviews with key figures in the horse racing industry, including Cormac Breathnach from Keeneland, horse breeder Anne Archer Hinkle, Mark Taylor from Taylor Made Farm, marketing professor Emily Plant, former jockey Richard Migliore, and economics professor and horse player Marshall Gramm. The podcast delves into the factors that influence horse prices, the risks and potential returns of investing in racehorses, the challenges facing the horse racing industry, and the role of gambling and technology in shaping its future. The episode culminates with the sale of a prized filly, highlighting the blend of intellect and instinct in the high-stakes world of thoroughbred auctions.