On this episode of the Business of Betting podcast, Jason is joined by Katie Bo Lillis, CNN intelligence reporter and author of Death of a Racehorse: An American Story.
Hear them discuss:
01:06 – Katie’s rural upbringing and start at the racetrack 02:28 – From walking hots to bloodstock reporting in Saratoga 03:10 – Thoroughbreds, quarter horses, and racing’s breed confusion 04:21 – How horse racing thrives globally in Ireland and Hong Kong 05:13 – Racing’s financial dependence on gambling and takeout 07:06 – Parimutuel betting, field sizes, and why it still matters 08:28 – Why racing can’t build stars like Formula 1 does 10:05 – Short careers and shifting allegiances hurt fan engagement 12:13 – Flightline and the business logic behind early retirements 13:33 – Breeding economics: 200 mares at $250k per stallion 15:27 – The rising tension between tradition and modernization 19:19 – The central ethical dilemma: horse fatalities and public trust 24:06 – Why catastrophic leg injuries mean euthanasia 25:59 – Sudden deaths, arrhythmias, and unknown causes 28:30 – The Baffert controversy and thyroid drug concerns 30:20 – Breakdowns and the real welfare crisis in racing 34:50 – Overbreeding from flawed sires: risks to the sport
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