Horse Racing News

Purses Ahead Overall Despite Second-Quarter Slump

Despite a drop in United States purses paid for the second quarter of the year, purses paid year to date remain in positive territory with a gain of 1.64% to more than $576.3 million through June 30, according to statistics released by Equibase.

Field size for the second quarter and year to date also continue to show growth, with the second quarter rising 2.74% to an average of 7.21 starters per race and the year to date up 1.88% to 7.38 average starters per race.

The decrease in purses paid for the second quarter corresponds with a 7.4% decline in total race days and a 7.31% drop in total races. Poor air quality caused by widespread wildfires in Canada forced several live racing days to be canceled along with some track safety issues at Laurel Park. For the year to date, total race days are down 3.53% but the average amount of purses paid per race day is up 5.36% to $309,708. The average available purses per race day is tracking at $321,761.

Wagering on U.S. races continues to follow a declining trend, with decreases reported for the month of June, for the second quarter, and for the year to date. Second-quarter handle is down 2.69% to more than $3.37 billion, while year to date handle is down 3% to more than $6.07 billion.

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2nd Qtr 2023 vs. 2nd Qtr 2022

Indicator

2nd Qtr 2023

2nd Qtr 2022

% Change

Wagering on U.S. Races*

$3,374,251,997

$3,467,438,817

-2.69%

U.S. Purses (paid)

$320,777,855

$331,096,968

-3.12%

U.S. Race Days

1,039

1,122

-7.40%

U.S. Races

8,437

9,102

-7.31%

U.S. Starts

60,826

63,868

-4.76%

Average Field Size

7.21

7.02

+2.74%

Average Wagering Per Race Day

$3,247,596

$3,090,409

+5.09%

Average Paid Purses (paid) Per Race Day

$308,737

$295,095

+4.62%

 

YTD 2023 vs. YTD 2022

Indicator

1st QTR 2023

1st QTR 2022

% Change

Wagering on U.S. Races*

$6,074,478,517

$6,262,619,225

-3.00%

U.S. Purses (paid)

$576,368,032

$567,057,608

+1.64%

U.S. Race Days

1,861

1,929

-3.53%

U.S. Races

15,414

15,870

-2.87%

U.S. Starts

113,805

115,014

-1.05%

Average Field Size

7.38

7.25

+1.88%

Average Wagering Per Race Day

$3,264,094

$3,246,563

+0.54%

Average Paid Purses (paid) Per Race Day

$309,709

$293,965

+5.36%

* Includes worldwide commingled wagering on U.S. races.

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