U.S. handle on Thoroughbred racing declines during July

Wagering on Thoroughbred races at U.S. tracks was down marginally on a per-race basis in July when compared to July 2022, though the total amount bet dropped nearly $80 million, according to statistics released by Equibase on Sunday.

The average, $321,981, dipped 0.5 percent during a month when U.S. tracks held 3,316 races, down 6.2 percent compared to the number of races held in July of last year. During the month, racetracks throughout the Midwest and along the East Coast canceled cards due to excessive heat and the return of wildfire smoke from Canada.

Total betting was down 6.7 percent, from $1.14 billion last year to $1.06 billion this year.

July of this year had 10 weekend dates, the same number of weekend dates as July of last year. Handle on weekend dates is typically far higher than on weekdays.

Total purses distributed during the month was $117.6 million, down 2.5 percent. The average purse per race jumped 4.0 percent to $35,454. Purses at U.S. racetracks are heavily subsidized by casino revenues.

The average field size increased marginally, by 1.6 percent, going from 6.94 horses per race in July of last year to 7.05 this year. After a steady decline going back decades, field size has begun to moderate and even tick up. Through the first seven months of the year, field size is up 1.9 percent, according to the Equibase figures.

For the year, total betting is down 3.6 percent, though races are down at nearly an identical rate, leading to stagnant per-race handle figures. The amount of purses paid out through the first seven months of the year is up 0.9 percent, despite the decline in races.

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