January handle increases nearly 10 percent

Total wagering on Thoroughbred races held at U.S. tracks jumped nearly 10 percent in January compared to the same month in 2020 despite a six percent drop in races held, according to figures released by Equibase on Thursday.

Total betting was $959.6 million, according to Equibase, up 9.6 percent compared with total betting of $875.8 million in January of 2019, prior to the pandemic wreaking havoc on certain segments of the U.S. economy. Races held dropped from 2,352 in January of last year to 2,211, leading to a 16.6 percent gain in average handle during the month.

The upward surge continues a late-year jump in wagering from 2020, along with a staggering jump in average race handle since the COVID-19 pandemic took hold in mid-March of 2020. Average handle per race in 2020 was $394,413, a record and up from $304,743 in 2019. In addition, in December, total handle jumped 6.2 percent despite a 7.4 percent drop in races held.

Total purses distributed during the month of January was down slightly, by 1.4 percent, according to Equibase, but average purse per race jumped 4.8 percent, to $32,158. Average purses set a record in 2019, at $32,257, but that average dipped slightly in 2020, to $31,400.

Average field size was up slightly, from 7.95 horse per race in January last year to 8.1 horses in January of this year.