U.S.
NBC's Kentucky Derby Ratings Dip Slightly Amid Record Wagering
May 8 (Bloomberg) -- NBC's broadcast of the Kentucky Derby win by 50-1 shot Giacomo drew big-city ratings slightly below last year as a record amount of money was bet on the race.
Yesterday's telecast on the General Electric Co. network was watched by an average of 8.2 percent of viewers in the top 56 U.S. media markets, according to Nielsen Media Research Inc.
The rating peaked with an 11.5 from 6-6:30 p.m. New York time as Giacomo became the longest shot since 1913 to win the 1 1/4-mile race at Churchill Downs in Louisville, Kentucky. Favored Bellamy Road, a horse belonging to New York Yankees owner George Steinbrenner, finished seventh.
The combined on- and off-track betting total of $103.3 million marked the first time more than $100 million was wagered on a thoroughbred race at a North American track, according to Churchill Downs Inc. The previous record was $99.4 million bet on the Derby last year, track spokesman John Asher said in a telephone interview.
Yesterday's top-rated individual markets were Louisville at 30.6 percent, Tampa, Florida, at 12.6 and Cincinnati at 12.0, Nielsen said. Steinbrenner lives in Tampa, where the Yankees hold spring training. Bellamy Road was his fifth Kentucky Derby entry since 1977. None have finished higher than fifth.
Last year's victory by Smarty Jones drew 8.3 percent of big- city viewers, tying it with 2003 and 2001 as the highest-rated for the first leg of the Triple Crown since 1992. Lil E. Tee won the 1992 races with a 9.5 large-market rating.
Full national ratings for the race will be available in four days, Nielsen said. There are 109.6 million U.S. households with televisions. Large-market ratings represent about 70 percent of those households.
Giacomo moves on to the Preakness Stakes on May 21 at Pimlico Race Course in Baltimore. The Belmont Stakes is June 11 at Belmont Park in Elmont, New York. Six horses in the past eight years won the first two legs of the Triple Crown, but none could win the Belmont. The last Triple Crown winner was Affirmed in 1978.
NBC averaged an 8.3 rating for last year's Triple Crown races, 22 percent higher than 2003 and 2002. New York-bred Funny Cide won the first two legs in 2003 before losing at the Belmont to Empire Maker. War Emblem also won the first two races in 2002, but lost to 70-1 long shot Sarava at the Belmont.
NBC is completing a five-year, $51.5 million contract to broadcast the Triple Crown. The network on May 3 extended agreements to show the Kentucky Derby and Preakness until 2010. Walt Disney Co.'s ABC will begin showing the Belmont Stakes next year.
Saturday's running of the Kentucky Derby left favorites in dry churned up dust, as speedster '''''Spanish Chestnut''''' forced an early pace that only long-shot horses fully answered. The two top finishers, '''''Giacomo''''' and '''''Closing Argument''''' ran past race favorites '''''Bellamy Road''''' and hopeful '''''Bandini''''', who came off the starting gate well and into the first turn. But they faded under a blistering early pace that at the half-mile pole was second fastest in race history.

Only '''''Afleet Alex''''', showing at third, applied salve to the wounded crowd of 154,000 ticket-tearing fans. Betting for this year's race totaled a record $103.3 million counting both on- and off-track wagering. A 2 dollar wager on the winning horse '''''Giacomo''''' paid $102.60.

TV viewership in top metropolitan markets was down only slightly from the previous year, which considering the wagering shows no lack of interest in the race:

:Win: Giacomo $102.60
:Place: Closing Argument: $45.80
:Show: Afleet Alex: $19.80