Total wagering on U.S. Thoroughbred races rises 1% in March

Total wagering in March on U.S. Thoroughbred races reversed recent month-over-month declines, posting a 1.0 percent gain despite a slight decline in the number of races held, according to figures distributed by Equibase on Friday.

Total wagering was $972.06 million, up $9.5 million when compared to the total wagering figure for March of last year. However, March of this year had 10 weekend dates, compared to eight in March of last year. Wagering on Thoroughbred races is generally far higher on weekends than on a weekdays.

The number of races held during the month declined 2.9 percent compared to March 2023, from 2,469 last March to 2,398, according to the figures. Average wagering per race jumped 3.98 percent, to $405,361.

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Total purses distributed during the month increased 7.6 percent to $98.0 million, up from $91.1 million in March of last year. The average purse increased 10.7 percent to $40,876. Purses at U.S. racetracks are heavily subsidized by casino revenues.

The average field size continued to creep up slightly, increasing from 7.48 in March 2023 to 7.54 in March of this year.

For the first three months of the year, total wagering is down 4.0 percent, and the number of races has declined 8.2 percent. The average handle per race has increased 4.5 percent.

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