Meadowlands: Handle up $26 million in first quarter of 2023

Any naysayer talk of harness racing’s demise has been reduced to a barely audible whisper these days, as the sport has seen a solid increase in business during the first quarter of 2023, with betting at The Meadowlands leading the charge.

During the first three months of 2023, there were 26 programs contested at The Big M (there was one cancellation due to cold conditions). There were a pair of Sunday afternoon cards during January, leaving 24 Friday and Saturday evening programs, with each of those cards seeing wagering exceed the $3 million mark.

During the first quarter of last year, the $3 million barrier was busted but four times. In addition, it took the entire racing calendar year of 2022 – 85 programs – to bet $3 million 23 times.

Needless to say, Big M business has been booming.

“We have received extraordinary support this year from our horsemen and our horseplayers,” said Meadowlands’ Chief Operating Officer and General Manager Jason Settlemoir. “Our numbers haven’t been this strong in decades. We have fought a long, hard battle to become the No. 1 track in the evening marketplace again. With the help of Gov. (Phil) Murphy and the State Legislature of New Jersey, we can proudly say that The Meadowlands intends to stay there.”

Here are some comparisons from last year to this, showing how much things have changed for the better. As well as the bettor:

During the first quarter of 2022, a total of $59.2 million was pushed through the windows on Meadowlands’ races, for an average per race card of $2,820,649. This year, those numbers have ballooned to $85.4 million and $3,287,164, a staggering increase of just over $467,000 per card. The total increase stands at $26.2 million.

March was nothing short of marvelous at The Big M, as the average handle on Friday nights was $3,499,203, while Saturday’s average wager was $3,697,352. The first weekend of the month saw the only two $4 million handles of the year in North America, as on Friday, March 3, an industry-best $4,519,050 was put in play, while the next night (Saturday, March 4) saw wagering total $4,062,855.

“Our goal is to keep this momentum throughout the season,” said Settlemoir. “And in the coming weeks, our product will be shown to a national television audience on the networks of Fox Sports. (Chairman and Chief Executive Officer) Jeff (Gural) and I have always thought showing our races to an audience that may not know that we can provide a product that’s as competitive as the Thoroughbred races they are accustomed to, could provide some “crossover” fans, and given how well we’ve done so far this year, that transition appears to already be in motion.”

The sport as a whole has also seen increased business, with a total of $380 million in bets placed during the first quarter of 2023, as compared to the year before, when $351 million of action was taken. The $29-million increase (eight percent) occurred despite the total of race programs decreasing 12 percent.

-release (Meadowlands)