Total handle down but per-race betting up during June

Total handle on U.S. Thoroughbred races dropped in the month of June compared to the same month last year, but the number of races held dropped at double the rate, according to figures released by Equibase on Thursday.

Total handle in June dropped 4.1 percent to $934.9 million, according to Equibase, but the number of races held in the month dropped 8.8 percent. As a result, average handle per race jumped 5.2 percent, from $290,413 in July of last year to $305,409 in June of this year.

The number of races dropped in large part due to cancellations throughout June at tracks in the Midwest and on the Eastern seaboard due to smoke from Canadian wildfires drifting south of the border. The smoke drifts led some racing commissions and regulatory bodies to issue air-quality recommendations for live racing for the first time.

Despite the sharp decline in races, purses distributed during the month was down only 3.3 percent. Average purse per race increased 5.9 percent, from $33,059 in June of last year to $35,031 this year. Purses at U.S. racetracks are heavily subsidized by casino operations.

Significantly during the month, live racing in Kentucky was moved from Churchill Downs to Ellis Park as of June 2 due to concerns over a spate of fatalities that had occurred at Churchill in May. Churchill, which owns Ellis, paid out purses according to the Churchill condition book during the extra month of racing at Ellis.

Average field size during June was 7.03 horses per race, up slightly from 6.93 horses per race in June of last year.

For the year, total wagering is down 3 percent compared to the first six months of 2022, according to Equibase, though the average handle per race is running statistically even to 2022 due to a 2.87 percent drop in the number of races held. The total purses distributed is up 1.6 percent.

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