Handle up slightly in July

Handle on U.S. races in July was up 1.4 percent compared with betting during the same month last year, but the number of races run was up 2.2 percent, despite a sustained falloff in the past year in the number of races and race days held by U.S. tracks, according to figures released Wednesday by Equibase.

Handle was $903.7 million during July, compared with $891.1 million in July 2014. U.S. tracks ran 4,257 races last month, compared with 4,164 last July. Both months had eight weekend dates.

Racetracks have been cutting races for the past year to maintain field sizes in the wake of a sustained contraction of the foal crop from 2010-12. With the jump in the number of races run this July, average handle per race during the month was $212,279, down less than 1 percent from $214,000 per race last July.

The handle figures changed insignificantly at a time when racing’s popularity has benefited from the exploits of American Pharoah, who became the sport’s first Triple Crown winner in 37 years by winning the Belmont Stakes in June. American Pharoah did not run during July, making his first start since the Belmont last Sunday in the Haskell Invitational at Monmouth Park in New Jersey.

Purses distributed during the month were up 0.1 percent. Purses at U.S. racetracks are heavily subsidized by casino revenue, but no new casinos have opened at Thoroughbred tracks in several years.

For the year, handle is down 0.25 percent, while the number of races is down 4.4 percent, according to Equibase. Purses are down 3 percent.