Equibase, North American racing's official database, has released its February statistics for the industry's economic indicators, including field size, wagering, and other data.
February's metrics show a 5.21 percent decline in total wagering, a slightly-improved figure over the 7.19 percent decline from January of 2022 to January of 2023. Overall, year-to-date wagering shows a decline of 6.22 percent in the first two months of 2023.
The number of race days and races held both showed mild increases, leading to an average daily wagering figure that declined 7.37 percent.
The average field size in February rang in at 7.58 starters per race, a 0.04 percent increase over the same month in 2022. That's an improvement over the first month of 2023, which saw average field size decline 0.33 percent; the year-to-date field size averages out at 7.66 starters per race, a decline of 0.14 percent over the first two months of 2022.
Purses continue to show an upward trend: this February, the total purses offered was 7.08 percent higher than the same month of 2022, continuing the trend from January with year-to-date purses offered up 8.45 percent.
Equibase is continuing to provide monthly reporting of its Economic Indicators Advisories as a service to the industry and in consideration of the economic changes resulting from the COVID-19 pandemic. The Advisory is typically disseminated on a quarterly basis to provide key metrics used to measure racing's performance throughout the year.
| February 2023 vs. February 2022 | |||
| Indicator | February 2023 | February 2022 | % Change |
| Wagering on U.S. Races* | $863,337,949 | $910,782,914 | -5.21% |
| U.S. Purses | $81,187,588 | $75,816,927 | +7.08% |
| U.S. Race Days | 263 | 257 | +2.33% |
| U.S. Races | 2,228 | 2,159 | +3.20% |
| U.S. Starts | 16,894 | 16,364 | +3.24% |
| Average Field Size | 7.58 | 7.58 | +0.04% |
| Average Wagering Per Race Day | $3,282,654 | $3,543,902 | -7.37% |
| Average Purses Per Race Day | $308,698 | $295,007 | +4.64% |
| YTD 2023 vs. YTD 2022 | |||
| Indicator | YTD 2023 | YTD 2022 | % Change |
| Wagering on U.S. Races* | $1,737,518,804 | $1,852,688,594 | -6.22% |
| U.S. Purses | $171,256,739 | $157,919,089 | +8.45% |
| U.S. Race Days | 528 | 516 | +2.33% |
| U.S. Races | 4,508 | 4,345 | +3.75% |
| U.S. Starts | 34,513 | 33,313 | +3.60% |
| Average Field Size | 7.66 | 7.67 | -0.14% |
| Average Wagering Per Race Day | $3,290,755 | $3,590,482 | -8.35% |
| Average Purses Per Race Day | $324,350 | $306,045 | +5.98% |
* Includes worldwide commingled wagering on U.S. races.
The post Economic Indicators: Wagering Declines Five Percent In February, Purses Continue Upward Trend appeared first on Horse Racing News | Paulick Report.
