Total wagering in February dips but handle per race rises

Total betting on U.S. Thoroughbred races in February was down slightly compared to the same month last year, though the average bet on each race was statistically even with last year, according to figures distributed by Equibase on Tuesday.

Total betting during the month was $838.20 million, a 2.85 percent decline from the $862.78 million bet in February of 2023. The number of races held during the month declined 3.32 percent to 2,154, a loss of 74, while the average handle per race rose slightly, from $387,245 to $389,134.

February of this year had 29 dates, one more day than last year. Both months had eight weekend dates.

The amount of purses paid out during the month rose 6.05 percent, according to the figures, from $77.89 million in 2023 to $82.60 million this year. Purses at U.S. tracks are heavily subsidized by revenues from casinos.

The average purse jumped 9.7 percent, to $38,347. Purses have been on a steady upwards clip in recent years due to the influence of growing casinos subsidies in several states, most notably Kentucky.

The average field size increased marginally, by 1.52 percent, increasing from 7.58 in February of last year to 7.70 in February of this year.

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