Wagering on horse racing in the United States dropped 3.35% in 2024 to $11,265,210,514, according to figures published Jan. 3 by Equibase.
A 5.01% drop in betting in the fourth quarter, notably including a soft final month of wagering, contributed to the decline. Whether December holidays fall on a weekend or weekday can impact wagering late in the year, and cancellations due to winter weather can negatively influence totals.
In a deviation from their overall figures, Santa Anita Park hosted 41,562 fans Dec. 26, a Thursday, marking the Southern California track's largest winter/spring opening-day crowd in eight years. Horseplayers wagered $21.4 million in all-sources handle on that card, an increase of 17.4% over 2023.
Reductions in pari-mutuel wagering can be attributed to numerous factors, with increased competition from sports gambling often cited as one. Some conventional horseplayers claim to have decreased betting or stopped due to the pari-mutuel involvement of computer-assisted wagering groups, which have tote access to wagering pools and receive rebates for their high-handle bets. Their last-moment wagers, plus closing bets from retail customers, can cause dramatic odds changes.
Purses, in many states boosted by gaming, led to a 0.49% annual increase in overall purses to reach $1,312,188,858. These were spread out of 3,787 race dates, a 2.37% reduction, and over 30,852 races, down 2.82%. Average purses per race day climbed 2.93% to $346,498.
Field size showed a slight 0.19% increase from 2023, rising to 7.45 starters per race.
| Thoroughbred Racing Economic Indicators Year-End 2024 |
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|
4th QTR 2024 vs. 4th QTR 2023 |
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|
Indicator |
4th QTR 2024 |
4th QTR 2023 |
% Change |
|
Wagering on U.S. Races* |
$2,399,661,115 |
$2,526,241,851 |
-5.01% |
|
U.S. Purses (Available) |
$312,479,894 |
$316,485,629 |
-1.27% |
|
U.S. Purses (Paid) |
$296,459,153 |
$301,367,857 |
-1.63% |
|
U.S. Race Days |
808 |
811 |
-0.37% |
|
U.S. Races |
6,762 |
6,883 |
-1.76% |
|
U.S. Starts |
52,892 |
54,362 |
-2.70% |
|
Average Field Size |
7.82 |
7.90 |
-0.96% |
|
Average Wagering Per Race Day |
$2,969,878 |
$3,114,971 |
-4.66% |
|
Average Available Purses Per Race Day |
$386,733 |
$390,241 |
-0.90% |
|
YTD 2024 vs. YTD 2023 |
|||
|
Indicator |
YTD 2024 |
YTD 2023 |
% Change |
|
Wagering on U.S. Races* |
$11,265,210,514 |
$11,655,726,020 |
-3.35% |
|
U.S. Purses (Available) |
$1,312,188,858 |
$1,305,755,625 |
+0.49% |
|
U.S. Purses (Paid) |
$1,252,385,694 |
$1,249,467,619 |
+0.23% |
|
U.S. Race Days |
3,787 |
3,879 |
-2.37% |
|
U.S. Races |
30,852 |
31,746 |
-2.82% |
|
U.S. Starts |
229,748 |
235,965 |
-2.63% |
|
Average Field Size |
7.45 |
7.43 |
+0.19% |
|
Average Wagering Per Race Day |
$2,974,706 |
$3,004,828 |
-1.00% |
|
Average Available Purses Per Race Day |
$346,498 |
$336,622 |
+2.93% |
| * Includes worldwide commingled wagering on U.S. races. | |||
