For the fifth time in six months in 2023, wagering on U.S. races was down from the corresponding month in 2022, according to Equibase. Declines in June can be blamed in part on numerous cancellations, some the result of poor air quality created by Canadian wildfires and some due to extreme weather.
For the month of June, wagering fell by 4.05 percent on 9.35 percent fewer race days and and 8.76 percent fewer races. With field size up marginally in June and the number of races down, the average amount wagered per race increased by 10.35 percent from June 2022.
Total purses in June were down but average available purses per race day increased by 10.35 percent. Equibase included a new metric for this month's economic indicator report: in addition to aggregate purses, which is now listed as “purses available,” the monthly reports will also include the actual purses paid out (“purses paid”). The discrepancy can be caused by available purses in some states including state-bred purse enhancements that are not always paid out, depending on where the winning horses were bred.
Second quarter and year-to-date wagering statistics also show declines across the board, with year-to-date wagering down 3.00 percent, fractionally more than the 2.87 percent drop in races run. On the plus side, both available and paid U.S. purses year-to-date are up despite the declines in wagering, with average available purses jumping by 9.46 percent per race day. Average field size for the year, 7.38 runners per race, is up 1.88 percent from the first six months of 2022.
The biggest day of the month was June 10, when the New York Racing Association reported $118,283,455 in wagering on the Belmont Stakes program – a record high for a non-Triple Crown attempt.
The only month this year that has generated higher handle compared with corresponding months in 2022 was March, when wagering, races and race days all increased.
| June 2023 vs. June 2022 | |||||
| Indicator | June 2023 | June 2022 | % Change | ||
| Wagering on U.S. Races* | $934,855,612 | $974,337,208 | -4.05% | ||
| U.S. Purses (Available) | $110,957,092 | $115,387,638 | -3.84% | ||
| U.S. Purses (Paid) | $107,230,717 | $110,913,314 | -3.32% | ||
| U.S. Race Days | 388 | 428 | -9.35% | ||
| U.S. Races | 3,061 | 3,355 | -8.76% | ||
| U.S. Starts | 21,521 | 23,258 | -7.47% | ||
| Average Field Size | 7.03 | 6.93 | +1.42% | ||
| Average Wagering Per Race Day | $2,409,422 | $2,276,489 | +5.84% | ||
| Average Available Purses Per Race Day | $285,972 | $259,143 | +10.35% | ||
| 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 (Available) | $332,698,719 | $343,975,925 | -3.28% | ||
| 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 Available Purses Per Race Day | $320,211 | $295,095 | +8.51% | ||
| YTD 2023 vs. YTD 2022 | |||
| Indicator | YTD 2023 | YTD 2022 | % Change |
| Wagering on U.S. Races* | $6,074,478,517 | $6,262,619,225 | -3.00% |
| U.S. Purses (Available) | $598,797,368 | $588,728,263 | +1.71% |
| 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 Available Purses Per Race Day | $321,761 | $293,965 | +9.46% |
* Includes worldwide commingled wagering on U.S. races.
The post Economic Indicators: Wagering Falls In June For Fifth Time In Six Months appeared first on Horse Racing News | Paulick Report.
