Total wagering, races run, and average handle per race down in October

Commingled wagering on Thoroughbred races at U.S. tracks in October declined at a higher rate than the drop in the number of races held, leading to a slight decline in average wagering per race, according to figures distributed by Equibase on Tuesday.

Total wagering during the month was $796.47 million, a 2.7 percent decline from the $818.69 million bet in October of last year. During the month, U.S. tracks ran 2,569 races, a decline of 1.6 percent compared to the 2,610 races run in October of last year, leading to a 1.1 percent decline in the average betting per race, to $310,003.

There were eight weekend dates in October of this year, compared to nine weekend dates in October of last year, mitigating the significance of the slight decline in overall and average wagering. Betting on weekends is typically far higher than betting on weekdays.

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Total purses paid during the month was $101.74 million, a 2.4 percent decline compared to the $104.29 million in purses paid out in October, 2023. Average purse per race was down 0.8 percent, to $39,603.

Due to a consistent decline in races held and significant subsidies from casinos, the average purse per race has been steadily increasing for years. The October purse numbers are the first to show a decline in average year-over-year, although this year’s September purse number showed no statistical difference when compared to the September average last year.

Average field size during October was 7.73 horse per race, statistically even with last October’s 7.76 average.

For the first 10 months of the year, total wagering is down 2.88 percent, while total races is down 2.96 percent, according to Equibase. Total purses paid is up 0.5 percent.

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