Weekend handle at racetracks down 4.9 percent, per race up 13.9 percent

Total handle on races held at U.S. racetracks from Friday to Sunday was $132.1 million, down 4.9 percent compared with the closest calendar weekend from last year, but per race handle was up 13.9 percent due to a large drop in the number of races held, according to an analysis of racing metrics conducted by Daily Racing Form.

Racing metrics from the two weekends are not comparable in a statistical sense due to the vast number of factors affecting racing handle this year. At most racetracks last weekend, racing was conducted without spectators due to the outbreak of coronavirus, and some racetracks closed indefinitely. And comparing handle metrics in the midst of widespread business and social disruptions during a pandemic is specious, at best.

Still, the numbers indicate that handle appeared to be comparable to a typical early-spring racing weekend, even if the vast majority of handle this year came from account-wagering sites and offtrack betting facilities. One major difference affecting last year’s handle numbers is that Santa Anita was closed for the weekend that was used for comparison, but was open this year.

Per-race handle for the three days of racing climbed from $291,381 to $331,963, with handle shifting to the races that were available. The total number of races for the three days dropped from 477 last year to 398 this year, down 16.6 percent.

On Friday, total handle dropped 12.3 percent, in the midst of widespread cancellations of major sporting events around the United States. Per-race handle jumped 4.4 percent on a 16 percent decline in races held.

On Saturday, total handle dropped 5.5 percent. Per-race handle jumped 19.4 percent on a 20.8 percent drop in races held.

On Sunday, total handle was up 3.2 percent. Per-race handle jumped 15.6 percent on a 10.8 percent drop in races held.