More robust turf racing, field sizes led to surge in betting at Fair Grounds meet

Wagering figures for the recently concluded Fair Grounds meet in New Orleans surged by more than 20 percent, according to an analysis of betting figures conducted by Daily Racing Form, on the strength of increased field size due in large part to the track ironing out problems afflicting its beleaguered turf course last year.

Total handle over the 75 days of racing at the meet was $254.52 million, a 22.8 percent increase over the total handle of $207.32 million during the 2022-23 meet of 79 days, according to the figures. Average handle per race surged 21.5 percent compared to the previous meet, to $365,162.

During the 2022-23 meet, Fair Grounds ran only four turf races from the start of the meet in mid-November until mid-January due to maintenance problems involving the course, severely impacting wagering demand and leading to a 19.3 percent drop in total handle compared to the 2021-22 meet. In contrast, turf racing was held nearly uninterrupted throughout the 2023-24 meet, significantly improving the wagering product.

Field size at the meet that closed on Sunday was 8.46 horses per race, up more than one horse per race compared to the previous meet, when field size was 7.26 horses per race. The field-size figure was also significantly improved compared to the 2021-22 meet, when the average was 7.67 horses per race, according to the analysis.

Field size probably also benefited from a boost to purses this year. The average purse at the latest meet was $47,521, an increase of 9.1 percent over the average of $43,545 during the previous meet, according to the analysis. The average purse during the 2021-22 meet was $40,355.

The track is owned by the parent company of Churchill Downs, the home of the Derby. Purses at Fair Grounds are subsidized by slot machines at the track.

Fair Grounds officials did not respond to a request for comment on the figures. Churchill Downs does not publicly release wagering figures for the tracks the company owns.

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