A more than 8% decline in race dates in the first quarter of 2024 contributed to a 4% drop in wagering on United States races for the first three months of the year when compared with the opening quarter of 2023.
There were 753 race days through the first quarter of 2024, down 8.39% from last year’s 822.
Decreases through the first three months of 2024 were felt not only in the number of race days, but in the number of races run and the total number of starts made. There were 6,405 races run for a total of 49,223 starts in 2024 while 6,977 races were run for a total of 52,979 in 2023.
With these declines in place, wagering fell 4.04% from $2,699,177,001 last year to $2,590,112,041 this year. As this decline was less than half the decline in race days, average wagering fared well. Average wagering per race day was up 4.75% to $3,439,724.
Purses for U.S. races were slightly higher in the first quarter compared with 2023. Total available purses for U.S. races amounted to $267,184,332, up 0.41% on last year’s $266,101,049 figure. The average available purses per day experienced the biggest increase in 2024 at $354,826. This was 14% higher than the average available purses per day in 2023, which was $310,939.
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| Thoroughbred Racing Economic Indicators For March and First Quarter 2024 |
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March 2024 vs. March 2023
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Indicator
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March 2024
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March 2023
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% Change
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Wagering on U.S. Races*
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$972,056,343
|
$962,551,947
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+0.99%
|
|
U.S. Purses (Available)
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$102,827,031
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$94,848,996
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+8.41%
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U.S. Purses (Paid)
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$98,021,695
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$91,144,090
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+7.55%
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U.S. Race Days
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284
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294
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-3.40%
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U.S. Races
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2,398
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2,469
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-2.88%
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U.S. Starts
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18,082
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18,466
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-2.08%
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Average Field Size
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7.54
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7.48
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+0.82%
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Average Wagering Per Race Day
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$3,422,734
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$3,273,986
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+4.54%
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Average Available Purses Per Race Day
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$362,067
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$310,014
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+16.79%
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1st QTR 2024 vs. 1st QTR 2023
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Indicator
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1st QTR 2024
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1st QTR 2023
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% Change
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Wagering on U.S. Races*
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$2,590,112,041
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$2,699,177,001
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-4.04%
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U.S. Purses (Available)
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$267,184,332
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$266,101,049
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+0.41%
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U.S. Purses (Paid)
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$254,244,190
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$255,591,587
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-0.53%
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U.S. Race Days
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753
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822
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-8.39%
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U.S. Races
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6,405
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6,977
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-8.20%
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U.S. Starts
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49,223
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52,979
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-7.09%
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Average Field Size
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7.69
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7.59
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+1.21%
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Average Wagering Per Race Day
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$3,439,724
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$3,283,670
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+4.75%
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Average Available Purses Per Race Day
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$354,826
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$310,939
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+14.11%
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| * Includes worldwide commingled wagering on U.S. races | |||
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