Betting on Thoroughbreds in January drops a tick from 2021
Betting on Thoroughbred races at U.S. tracks in January dropped slightly compared to betting in the same month a year ago, according to figures released by Equibase on Friday, but the total and per-race average this year was up markedly compared to the same month two years ago, prior to the COVID pandemic causing widespread disruptions to economic activity.
Total wagering in January this year was $942.7 million, down 1.8 percent compared to $960.2 million in January of last year, according to the release. The January total this year was up 7.7 percent compared to a total of $875.6 million in the same month two years ago.
The per-race average in January 2022 was $431,224, a less than 1 percent decline compared to the per-race average in January of last year of $434,265. The average in January 2022 was up 15.8 percent compared to the same month in 2020, when racetracks held 168 more races than in January of this year.
Total purses distributed in January of this year was up 15.5 percent to $82.1 million. Purses at U.S. racetracks are heavily subsidized by casinos, and some casinos remained closed early last year because of pandemic concerns. Still, purses were up 13.9 percent compared to January of 2020.
The average field size declined to 7.75 horses per race, from 8.09 horses in January of 2021.