April handle up from last year

Handle on U.S. races rebounded in April despite a slight drop from last year in the number of races held during the month, according to figures released by Equibase on Tuesday.

Handle jumped 5.9 percent during the month when compared with April last year, from $812.5 million in April last year to $860.1 million this year. There were eight weekend dates this year in April, the same number as last year.

Races held during the month dropped 0.7 percent, from 3,024 to 3,003, while starters dropped 2.1 percent, according to the figures. Because the drop in starters was steeper than the drop in races, field size overall in the month declined.

Compared to March of 2014, handle in March this year dropped steeply, 12 percent, in large part because the number of races held during the month plummeted 15 percent. This year’s March also had nine weekend dates, compared to 10 weekend dates in March of 2014.

Purses distributed in U.S. races during April this year rose 4.92 percent, according to Equibase. Purses at U.S. racetracks are heavily subsidized by casino revenues, but the figure typically closely tracks handle.

For the year, handle on U.S. races is down 2.5 percent, while purses are down 3 percent, according to Equibase. Races have declined 5.8 percent as tracks continue to pare races and dates from their schedules in an attempt to maintain field sizes.