One of the problems can be seen here:
http://www.equibase.com/live.cfm
Looking at the schedule for this Saturday, April 28, I see 33 tracks running T-Bred and Q-Horse races. Mostly T-Bred as far as I can tell. Even with a "normal" crop, that would seem to me to be excessive.
I am not familiar with the smaller tracks, but I have to assume that many of them are racinos, and that they are a lot more interested in running enough races to keep a gambling license than in catering to horse players. In any case, 33 tracks running has to be a glut, and too few horses spread over too many tracks has to be a big factor in short fields.
