Year-over-year Thoroughbred handle dropped 4 percent in March
Total handle on Thoroughbred races held at U.S. tracks in March declined 4 percent compared to total wagering in March of last year, but the number of races declined 5.7 percent, leading to a slight gain in average handle per race.
According to figures distributed by Equibase, total handle in March of this year was $931.2 million, down approximately $41 million from handle of $971.99 last year. However, races declined at a higher rate, from 2,403 in March of last year to 2,266 in March of this year, leading to a 1.6 percent gain in average handle per race, from $404,489 per race last year to $410,945 per race last year.
Both months had 10 weekend dates. Handle is typically far higher on weekends than on weekdays.
Races declined in part due to the closure of Golden Gate Fields in Northern California last year. The track ran 15 live racing dates in March of last year, typically with eight races per card.
The average purse nationwide was up only slightly during the month, from $40,800 to $41,174. Total purses distributed during the month totaled $93.3 million, down from $98 million last year.
Field size climbed slightly, from 7.54 horses per race last March to 7.71 horses in March of this year. Field size has begun drifting up over the past four months after a persistent slide over most the past 10 years.
For the first quarter of the year, total handle was down 3.28 percent to $2.505 billion, while races were down 3.73 percent, leading to a slight gain in average handle per race. Total purses were down 3.22 percent and field size was up 3.23 percent to 7.93 horses per race.
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