U.S. handle up 17 percent in July compared to 2019

Total wagering on United States races held in July was up 16.9 percent compared to the same month two years ago, prior to the disruptions caused by the pandemic last summer, according to figures released by Equibase on Thursday.

Total wagering of $1.10 billion in the month was up $159 million over the July 2019 figure, according to Equibase. U.S. racetracks held 3,531 races this July, down 5.6 percent over the same month two years ago, leading to a 23.7 percent gain in average per-race wagering, from $251,802 in July 2019, to $311,985 this July.

For the year, total wagering on U.S. races is up 11.56 percent compared to 2019, as gains achieved during the latter part of 2020 appear to have taken hold in the overall Thoroughbred industry. Last year, when betting was largely confined to in-home services, total Thoroughbred wagering began to make double-digit monthly gains in total handle and per-race handle, a trend that many racing officials believe occurred due to higher visibility on television and constraints on outlets for disposable income.

Comparisons to wagering figures for July of last year are complicated by the vast number of disruptions in racing and the general economy caused by the coronavirus pandemic. Still, total wagering in July of this year was statistically even with July of last year, while per-race average handle this July was down 6.8 percent compared to the same figure in July of last year. The number of races held this July was up 7.7 percent compared to July of last year. Both months had eight weekend dates.

Average field size in July dropped 8.8 percent, to 6.95 horses per race, down from 7.62 horses per race last year. Average field size this July dropped 2.3 percent compared to the average field size of 7.11 horses per race two years ago in the same month.

Total purses distributed in July of this year was up 6.9 percent compared to July two years ago, from $103.3 million two years ago to $110.5 million. Purses at U.S. racetracks are heavily subsidized by casino revenues.

The U.S. racing industry continues to offer fewer racing dates and races than it did two years ago, though the contraction has not helped field size. Through the first seven months of 2021, the total number of race days has shrunk 10.1 percent compared to the first seven months of 2019, while the total number of races has declined 8.9 percent.