U.S. betting in May down 4 percent, number of races declines 5.3 percent
Total commingled handle on Thoroughbred races held at U.S. tracks in May dropped 4 percent compared to the same month last year, but the number of races held dropped at a larger rate, according to figures distributed by Equibase on Friday.
While handle was down from $1.45 billion in May of last year to $1.39 billion last month, the number of races dropped 5.3 percent, from 2,993 last year to 2,779 this year. The average race handle during the month was $499,288 this year, up 1 percent compared to average handle of $492,815 in May of last year.
May of this year had 10 weekend dates, compared to nine weekend dates last year. Handle is generally far higher on weekends than weekdays.
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May of both years included the Kentucky Derby and the Preakness Stakes. Handle on the Derby was down 3 percent this year, while handle on the Derby card was down 1.8 percent. Handle on the Preakness was down 8 percent, and handle on the Preakness card was down 2.6 percent.
Despite the decline in races, purses were statistically even in May this year compared to the same month last year, at a total of $118.3 million. The average purse in May, boosted by big increases on the Derby card, was $42,565, up 5.6 percent compared to the average of $40,294 in May of last year.
Field size in May of this year was 6.92 horses per race, compared to 7.09 horses per race in May of last year, continuing a troubling trend that restarted this year after stabilizing for a short time. Field size for the first five months of this year has fallen to 7.36 horses per race, down from 7.67 horses per race in the first five months of last year.