Country-wide handle down in July but fewer races run

Average wagering and average purse per race for Thoroughbred races at U.S. tracks in July both dropped marginally compared to the same figure in July of 2023, according to figures distributed by Equibase on Monday, during a month when the number of weekend dates skewed the totals for purses and wagering.

July of this year had eight weekend dates, compared to 10 weekend dates in July of last year, leading to significant drops in the total amount of betting and the total value of purses in July of this year. Racing is concentrated on weekend dates in the U.S., and wagering is far higher on weekend dates than on weekdays.

Total wagering dropped 9.8 percent, according to Equibase, from $1.067 billion in July of last year to $963.3 million in July of this year. Total distributed purses in the month dropped 10.8 percent, from $117.6 million last year to $106.0 million this year.

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U.S. racetracks ran 3,042 races during the month, compared to 3,316 races in July of last year, a decline of 8.3 percent.

The average wagering per race dropped 1.6 percent, from $321,968 in July of last year to $316,653 in July this year. The average purse dropped 1.7 percent, from $35,453 per race to $34,856 per race.

The average field size crept up slightly compared to July of last year, from 7.05 horses per race to 7.12 horses per race, well below the 8.0 target of most racing offices. The year-to-date figure is 7.38 horses per race, up slightly from the 7.32 figure through July of last year.

For the first seven months of the year, total wagering is down 3.2 percent, but the number of races held is down 4.6 percent, leading to a slight gain in the average wagering per race figure. Total purses through the first seven months are down 0.5 percent.

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