Total betting in August up 5.5 percent from 2023; races run ticks higher

Total betting on Thoroughbred races held at U.S. tracks in August jumped 5.5 percent compared to the same month last year, aided by an extra weekend date, according to figures released by Equibase on Thursday.

Total betting was $1.167 billion in August, compared to $1.106 billion in August of last year, according to the figures. This year, August had nine weekend dates, compared to eight weekend dates in 2023.

Average wagering per race was up 4.6 percent, from $345,433 in August last year to $361,377 this year.

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The number of races held at U.S. tracks ticked up 0.9 percent, from 3,204 in August of 2023 to 3,232 this year. In general, the U.S. racing industry has been in a prolonged live-racing contraction, and the month to month increase in races is the first of its kind in years.

The average purse per race in August jumped 7.4 percent, to $42,280. Purses at U.S. racetracks are heavily subsidized by casino revenues, and average purses have been increasing steadily over the past decade.

In total, purses paid during the month was up 8.4 percent, from $126.1 million to $136.7 million.

Average field size in the month was 7.21 horses per race, slightly up from 7.16 horses per race in August of 2023.

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