Wagering on Thoroughbred races in the United States dipped by 2.1% for 2025, likely depressed by declines in race days and number of races.
The number of U.S. race days dropped 5.2% to 3,590, according to figures released Jan. 5 by Equibase, the partnership formed in 1990 between subsidiaries of The Jockey Club and the Thoroughbred Racing Associations of North America to manage the Thoroughbred industry's official racing database. Hand in hand with this decline was a 4.7% drop in number of races to 29,401, which is the first time U.S. races fell below 30,000 since the mid-1950s, according to records from The Jockey Club.
With less racing product, the total handle (including worldwide commingled wagering on U.S. races) fell to nearly $11.03 billion, down from more than $11.26 billion in 2024. With fewer race days, the average wagered per race day rose to nearly 3.3% to $3,072,048.
A decline in total purses paid mirrored the drop in handle, falling 2.5% to more than $1.22 billion. As with the average handle, the fewer race days propped the average available purse per race day, which rose nearly 3% to $356,728.
Extreme weather and wildfires throughout the year did wreak havoc on racing schedules. Oaklawn Park cancelled its Jan. 10-12 programs due to freezing temperatures and storms, and the following month, the Rebel Stakes (G2) had to be pushed back a day due to more harsh winter weather. Ruidoso Downs canceled its entire racing program for the year after the track was damaged by severe flooding exacerbated by wildfires that had stripped bare adjacent land. Aqueduct Racetrack even had to cancel its March 30 card due to unacceptable noise levels from a "March Madness Auto and Bike Show" at the neighboring Resorts World New York Casino.
Racing during January through June saw bigger declines in wagering, down nearly 2.8%, and in purses, down nearly 3.2%, compared with the second half of the year. But the second half of the year reported the highest declines in race days and races. Tracks during July through December showed a nearly 6% decline in race days and a 5% drop in number of races. Ruidoso runs during the summer months.
Average field size held steady throughout the year, settling at 7.47 starters per race by the end of the year. Average field size did rise to 7.54 starters per race during the first half of the year, but then slid to 7.41 during the second half of the year.
