Economic Indicators For October: Field Sizes, Race Days Down While Wagering, Purses Up

Equibase, North America's horse racing's official database, has released its economic indicators for October 2021. These indicators include field size, wagering, number of race days, and other information distributed monthly alongside year-to-date, 2019, and 2020 data. The database shares 2020 and 2021 statistics and includes 2019's data for comparison to pre-pandemic numbers.

October's economic indicators show a decrease in the number of race days, number of races, and the average field size, while total wagering on American races, amount of purses awarded, and average wagering per race day have increased from October 2020. The number of race days decreased by 3.53%, with 12 fewer race days in October 2021 than in 2020. Fewer race days meant fewer races run, a 3.65% decrease over last year, and fewer starts for American horses, down 7.41% from 2020. The average field size decreased as well, from 7.86 in October 2020 to 7.55 in October 2021. These numbers reflect a continued trend from pre-pandemic October 2019, with the largest decrease in the total number of starts.

While the number of race days and races decreased from 2020, the total amount of money wagered and the amount wagered per race day increased, as did average purses awarded per race day and total purses awarded. Wagering totals from October 2020 were buoyed by the $51.2 million wagered on the Preakness, which was moved from its usual spot on the calendar in May due to the pandemic.

The largest increase was in average purses awarded per race day in October 2021, which was 22.97% higher than 2020. The total amount of purse money awarded in the United States grew similarly, up 18.63% from October 2020. These numbers are similar to those from October 2019.

Though the total wagered on races in the United States only grew by 2.32%, the average wagering per race day was up 6.06%, reversing a trend from September where wagering had decreased. These totals are up from 2019 as well, showing a 22.49% and 24.73% increase respectively from pre-pandemic numbers. Even with a decrease in the number of races, race days, and average field size, the amount wagered per day and over the course of the month continues to show double-digit growth. Year-to-date comparisons from 2019 to 2021 show similar trends.

Overall, while the number of races and race days has decreased, the amount of purse money awarded, the amount of money wagered on an average day, and the amount wagered in total has increased.

October 2021 vs. October 2020
Indicator October 2021 October 2020 % Change
Wagering on U.S. Races* $950,624,087 $929,063,211 +2.32%
U.S. Purses $107,844,038 $90,904,717 +18.63%
U.S. Race Days 328 340 -3.53%
U.S. Races 2,748 2,852 -3.65%
U.S. Starts 20,750 22,410 -7.41%
Average Field Size 7.55 7.86 -3.90%
Average Wagering Per Race Day $2,898,244 $2,732,539 +6.06%
Average Purses Per Race Day $328,793 $267,367 +22.97%

 

YTD 2021 vs. YTD 2020
Indicator YTD 2021 YTD 2020 % Change
Wagering on U.S. Races* $10,448,766,933 $9,275,606,633 +12.65%
U.S. Purses $988,391,517 $720,140,966 +37.25%
U.S. Race Days 3,530 2,849 +23.90%
U.S. Races 28,976 23,747 +22.02%
U.S. Starts 211,377 186,886 +13.10%
Average Field Size 7.29 7.87 -7.31%
Average Wagering Per Race Day $2,959,991 $3,255,741 -9.08%
Average Purses Per Race Day $279,998 $252,770 +10.77%

 

2019 Comparisons:

October 2021 vs. October 2019
Indicator October 2021 October 2019 % Change
Wagering on U.S. Races* $950,624,087 $776,071,164 +22.49%
U.S. Purses $107,844,038 $91,981,753 +17.25%
U.S. Race Days 328 334 -1.80%
U.S. Races 2,748 2,754 -0.22%
U.S. Starts 20,750 22,176 -6.43%
Average Field Size 7.55 8.05 -6.23%
Average Wagering Per Race Day $2,898,244 $2,323,566 +24.73%
Average Purses Per Race Day $328,793 $275,394 +19.39%

 

YTD 2021 vs. YTD 2019
Indicator YTD 2021 YTD 2019 % Change
Wagering on U.S. Races* $10,448,766,933 $9,370,253,183 +11.51%
U.S. Purses $988,391,517 $985,848,771 +0.26%
U.S. Race Days 3,530 3,849 -8.29%
U.S. Races 28,976 31,308 -7.45%
U.S. Starts 211,377 233,153 -9.34%
Average Field Size 7.29 7.45 -2.04%
Average Wagering Per Race Day $2,959,991 $2,434,464 +21.59%
Average Purses Per Race Day $279,998 $256,131 +9.32%

* Includes worldwide commingled wagering on U.S. races.

The post Economic Indicators For October: Field Sizes, Race Days Down While Wagering, Purses Up appeared first on Horse Racing News | Paulick Report.

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Economic Indicators: Rescheduled 2020 Kentucky Derby Skews September Numbers

Equibase, North American racing's official database, released Tuesday its September 2021 statistics for the industry's economic indicators, including field size, wagering, and other data, along with year-to-date and 2019 and 2020 numbers. The database distributes 2020 and 2021 numbers and includes 2019's data for comparisons to pre-COVID-19 pandemic numbers.

Since the September of 2020 data includes that year's re-scheduled Kentucky Derby, it is no surprise that total wagering in September of 2021 is down significantly, by 12.32 percent. When compared with the year-to-date numbers, however, total wagering shows a positive trend: an increase of 13.80 percent.

Interestingly, the average wagering per race day category does show declines from the first nine months of 2020 compared to the first nine months of 2021, down over 10 percent. This is likely due to the fact that horse racing was one of the only viable sports on which wagering dollars could be spent during 2020, whereas most regular sporting events, and thus wagering on them, resumed during 2021.

When compared to the 2019 year-to-date figures, total wagering in 2021 is up 10.52 percent, a positive trend from pre-pandemic numbers. Race days and the number of races have continued to decrease, while field size is nearly steady at a decline of just 1.63 percent.

September 2021 vs. September 2020
Indicator September 2021 September 2020 % Change
Wagering on U.S. Races* $911,921,042 $1,040,000,472 -12.32%
U.S. Purses $129,274,281 $110,307,205 +17.19%
U.S. Race Days 421 365 +15.34%
U.S. Races 3,365 3,101 +8.51%
U.S. Starts 24,107 24,447 -1.39%
Average Field Size 7.16 7.88 -9.13%
Average Wagering Per Race Day $2,166,083 $2,849,316 -23.98%
Average Purses Per Race Day $307,065 $302,212 +1.61%

3rd QTR 2021 vs. 3rd QTR 2020
Indicator 3rd QTR 2021 3rd QTR 2020 % Change
Wagering on U.S. Races* $3,220,215,555 $3,292,016,515 -2.18%
U.S. Purses $365,390,507 $305,067,601 +19.77%
U.S. Race Days 1,321 1,208 +9.35%
U.S. Races 10,436 9,989 +4.47%
U.S. Starts 73,324 76,402 -4.03%
Average Field Size 7.03 7.65 -8.14%
Average Wagering Per Race Day $2,437,710 $2,725,179 -10.55%
Average Purses Per Race Day $276,601 $252,539 +9.53%

YTD 2021 vs. YTD 2020
Indicator YTD 2021 YTD 2020 % Change
Wagering on U.S. Races* $9,498,141,414 $8,346,543,422 +13.80%
U.S. Purses $880,542,199 $629,236,249 +39.94%
U.S. Race Days 3,202 2,509 +27.62%
U.S. Races 26,228 20,895 +25.52%
U.S. Starts 190,627 164,476 +15.90%
Average Field Size 7.27 7.87 -7.67%
Average Wagering Per Race Day $2,966,315 $3,326,641 -10.83%
Average Purses Per Race Day $274,998 $250,792 +9.65%

2019 Comparisons:

September 2021 vs. September 2019
Indicator September 2021 September 2019 % Change
Wagering on U.S. Races* $911,921,042 $801,998,134 +13.71%
U.S. Purses $129,274,281 $118,229,293 +9.34%
U.S. Race Days 421 412 +2.18%
U.S. Races 3,365 3,329 +1.08%
U.S. Starts 24,107 25,231 -4.45%
Average Field Size 7.16 7.58 -5.48%
Average Wagering Per Race Day $2,166,083 $1,946,597 +11.28%
Average Purses Per Race Day $307,065 $286,964 +7.00%

3rd QTR 2021 vs. 3rd QTR 2019
Indicator 3rd QTR 2021 3rd QTR 2019 % Change
Wagering on U.S. Races* $3,220,215,555 $2,921,407,748 +10.23%
U.S. Purses $365,390,507 $349,864,886 +4.44%
U.S. Race Days 1,321 1,411 -6.38%
U.S. Races 10,436 11,097 -5.96%
U.S. Starts 73,324 80,738 -9.18%
Average Field Size 7.03 7.28 -3.43%
Average Wagering Per Race Day $2,437,710 $2,070,452 +17.74%
Average Purses Per Race Day $276,601 $247,955 +11.55%

YTD 2021 vs. YTD 2019
Indicator YTD 2021 YTD 2019 % Change
Wagering on U.S. Races* $9,498,141,414 $8,594,182,019 +10.52%
U.S. Purses $880,542,199 $893,867,018 -1.49%
U.S. Race Days 3,202 3,515 -8.90%
U.S. Races 26,228 28,554 -8.15%
U.S. Starts 190,627 210,977 -9.65%
Average Field Size 7.27 7.39 -1.63%
Average Wagering Per Race Day $2,966,315 $2,445,002 +21.32%
Average Purses Per Race Day $274,998 $254,301 +8.14%

* Includes worldwide commingled wagering on U.S. races.

The post Economic Indicators: Rescheduled 2020 Kentucky Derby Skews September Numbers appeared first on Horse Racing News | Paulick Report.

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Economic Indicators: Average Daily Wagering Sees Slight Decline In March

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.

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