Equibase, LLC released its third monthly report of 2021 on Economic Indicators in Thoroughbred Racing on Monday, April 5. Due to the COVID-19 pandemic, Equibase has been providing monthly economic indicators advisories. The Advisory is typically disseminated on a quarterly basis to provide key metrics used to measure racing's performance throughout the year.
With the return of March Madness in 2021, the competition for a wagering dollar increased dramatically over the same period in 2020, when the tournaments were cancelled due to the pandemic. Accordingly, the average daily wagering in March of 2021 showed a 3.25 percent decline over the same month in 2020, when there was almost no competition outside the racing industry.
However, increased race days in March of 2021 (292, compared to 214 in 2020) meant that the overall wagering totals showed a 32 percent increase to $965 million.
Year-to-date wagering remains up 10.27 percent over the first quarter of 2020, while average wagering for the first three months of 2021 remains strong at 14.15 percent higher than the same period last year.
Moving forward, the continued return of fans to the racetracks could play a major role in handle, as those fans will shift from primarily ADW wagering to in-person.
March 2021 vs. March 2020 | |||
Indicator | March 2021 | March 2020 | % Change |
Wagering on U.S. Races* | $965,796,545 | $731,609,777 | +32.01% |
U.S. Purses | $81,797,768 | $55,774,436 | +46.66% |
U.S. Race Days | 292 | 214 | +36.45% |
U.S. Races | 2,563 | 1,787 | +43.42% |
U.S. Starts | 19,452 | 13,919 | +39.75% |
Average Field Size | 7.59 | 7.79 | -2.56% |
Average Wagering Per Race Day | $3,307,522 | $3,418,737 | -3.25% |
Average Purses Per Race Day | $280,129 | $260,628 | +7.48% |
1st QTR 2021 vs. 1st QTR 2020 | |||
Indicator | 1st QTR 2021 | 1st QTR 2020 | % Change |
Wagering on U.S. Races* | $2,766,096,277 | $2,508,529,406 | +10.27% |
U.S. Purses | $214,998,406 | $205,227,651 | +4.76% |
U.S. Race Days | 766 | 793 | -3.40% |
U.S. Races | 6,702 | 6,616 | +1.30% |
U.S. Starts | 52,211 | 51,973 | +0.46% |
Average Field Size | 7.79 | 7.86 | -0.83% |
Average Wagering Per Race Day | $3,611,092 | $3,163,341 | +14.15% |
Average Purses Per Race Day | $280,677 | $258,799 | +8.45% |
* Includes worldwide commingled wagering on U.S. races.
The post Economic Indicators: Average Daily Wagering Sees Slight Decline In March appeared first on Horse Racing News | Paulick Report.