Total August handle drops 7.3 percent from 2022 as fewer races are held
Handle on U.S. races held in August this year declined 7.30 percent while the number of races held dropped 5.76 percent, according to figures released by Equibase on Tuesday.
The total handle figure for the month, $1.107 billion, dropped $87 million compared to handle in August of last year, as U.S. racetracks held nearly 200 less races. During the month, there were eight weekend dates, identical to August of last year.
Average handle per race in the month was $345,551, a decline of 1.63 percent compared to August of last year, when average handle per race was $351,283.
Despite the declines in handle and races, gross purses were even with last year, at $125.9 million paid out. However, the average purse jumped 6.1 percent to $39,302, up more than $2,000 per race compared to last year’s average of $37,039 during the month. Purses at U.S. tracks are heavily subsidized by casino revenues.
During the month, Saratoga Racecourse, which leads all tracks by handle in August, saw significant declines in betting, mostly due to a high number of races being moved off the turf.
The average field size at all U.S. tracks during the month was nearly even with last year in August, at 7.16 horses per race compared to 7.13 horses per race last year.
For the year, total betting is down 4.1 percent, while the number of races held is down 3.8 percent. Total purses paid out are up 0.77 percent.
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