Three different stories, from three different American states, all singing the same sad song. As this article on the situation in Connecticut notes, when inflation is taken into account, horse racing takes in one-fifth of the money it handled in 1974. In Pennsylvania, the figure has dropped 25% in just the last four years. Even in fabled Virginia, the value of thoroughbred horses has dropped by a third in just the last decade. Seriously, horse racing is in deep (horse) shit.