The "Big Cap" is Not Big Anymore

For decades, the Santa Anita Handicap, more affectionately called "The Big Cap," stood as the premier dirt handicap race for older handicap horses in California. The list of equine legends who have won this race reads like the history of thoroughbred racing in America. The list of winners includes:

Game on Dude (3-time winner)
Tiznoe
Best Pal
Alysheba
Affirmed
Spectacular Bid
John Henry
Cougar II
Triple BEnd
Ack Ack
Seabiscuit
Rosemot

The race was carded for the first time in 1935. At some point, it earned the name "the Hundred Grander" after officials at Santa Anita Racecourse made it one of the nation's first races to carry a purse of $100,000. Over a 30-year span (1986-2016), the race offered a purse of nearly $1,000,000, drawing the best handicap horses in America. True racing fans will never forget the greats that traversed the 1 1/4 mile test held each March.

Sadly, The Big Cap has lost its luster. While the race maintains its elite status as a Grade I race, it no longer draws the best horses in training. Recent fields have been short, making it a "bad betting race" for racing fans who are looking for nice odds offered by big fields.

This year's race will be run on March 8. The field size was reduced to six horses after the connections of the pre-race favorite Skippylongstocking decided to scratch in favor of the Grade 2 New Orleans Classic to be run at 1 1/8 miles at Fair Grounds on March 22. In recent years, such decisions have plagued The Big Cap, causing the purse to be lowered to $300,000. The current field has only one horse that would be considered a legitimate Grade I horse. That would be the new race favorite, Just a Touch.

What Happened?

True racing fans and horseplayers are looking for explanations regarding the demise of the Santa Anita Handicap. The answer seems to involve three things that have hurt American horse racing in recent years.

1. Top-rated horses don't meet the starter very often. If one were to look at the top handicap horses over the last 15-20 years, it would be apparent that ownership protects top horses due to breeding value, usually running fewer than six times a year.

2. The Breeders' Cup effect. With the Breeders' Cup races being run in November, owners and trainers gear their horses up for big runs for the big money in those races. They follow that up by giving their horses time off during the winter, only to return to the training track about the time the Santa Anita Handicap is scheduled to run.

3. East Coast bias. The bias in favor of racing on the East Coast has never been stronger. Absent the $1 million purse, trainers and owners no longer see value in shipping their horses to the West Coast.

Horseplayers Pay the Price

When it comes to horse racing in America, the horseplayers seem forgotten. It's their dollars that make he inductry go, something that gets forgotten. If big races have small fields, horseplayers will look elsewhere for wagering opportunities.