Thoroughbred betting rose in April but per race handle was down slightly
Betting on Thoroughbred races at U.S. racetracks rebounded into positive territory in April after months of decline, but the average per race dipped marginally, according to statistics released by Equibase on Tuesday.
Total betting was up 2.23 percent compared to April of last year to $898.25 million. April of this year and last year both had eight weekend dates.
The number of U.S. races held in the month jumped 3 percent, so the average handle per race declined marginally, by 0.7 percent to $413,942.
Still, purses continued their upward trajectory, with total paid purses increasing 9.14 percent, and average purse per race jumping 6 percent, to $44,071. Purses at U.S. tracks are heavily subsidized by casino revenues.
Most notably, racetracks continue to struggle with field sizes, with the average field dropping 5.4 percent, from 7.71 horses per race in April of last year to 7.30 horses per race this year. Field size is a primary determinant of handle.
Total handle in March dropped 12.4 percent, with average handle per race dropping 11.6 percent, following two months of single-digit declines. The average field size in March was only 7.17 horses per race, down from 7.71 in March of last year.
For the first three months of the year, handle had dropped 7.1 percent. But with the April numbers, handle for the first four months of the year stabilized a bit at a drop of 4.7 percent, with races down 1.64 percent.
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