Handle falls 8% in February; total number of races down 11.3%

Total wagering on Thoroughbred races at U.S. tracks in February dropped 8.0 percent compared to the same month as last year, but the decline was offset by a double-digit drop in the number of races held during the month, according to figures distributed by Equibase on Wednesday.

While total wagering dropped $67 million compared to February of 2024, down to $771.2 million, the total number of races declined 11.3 percent, from 2,154 in February of 2024 to 1,910 in February this year. Both February of last year and February of this year had eight weekend dates, but last year’s February included a leap-year Feb. 29, which fell on a Thursday.

Since last year, Golden Gate Fields in Northern California has closed, accounting for a large share of the lost races. Winter weather in February this year at tracks throughout the Midwest and Mid-Atlantic led to a handful of race-day cancellations as well.

With races declining at a higher rate than total handle, the average handle per race in February of this year was up 3.7 percent, to $403,752.

Purses paid declined at the same rate as handle, leading to no difference between the average purse in February this year and the average purse in February last year. The average purse in February was $38,372. Purses at U.S. tracks are heavily subsidized by casino revenues.

Field size, which has been creeping up in the last several months after years of consistent declines or stagnation, was 7.98 horses per race in February, up 3.6 percent from the 7.70 number in February of last year. For the first two months of the year, average field size is hovering above 8.0 horses per race, at 8.06.

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