Tag: economic indicators

Economic Indicators: Month-To-Month Wagering Numbers Fairly Steady In June

Equibase, LLC released its sixth monthly report of 2021 on Economic Indicators in Thoroughbred Racing on Tuesday, July 6. 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.

The total U.S. wagering for June of 2021 was nearly even with that of June 2019, despite a 12.60 percent drop in races held. In addition, June of 2019 had five weekends of racing, while June of 2021 only had four; wagering is typically much higher on weekends than on weekdays.

Comparison to June of 2020, when racing was seriously disrupted by the COVID-19 pandemic, actually shows a slight decline from $998 million in 2020 to $993 million in 2021.

Year-to-date numbers for 2019 versus 2021 show that total wagering has increased by 10.67 percent, while average daily wagering is up 23.79 percent.

The first six months of 2019 showed wagering totals of $5.6 trillion, while the first six months of 2020 brought in wagering of $5.05 trillion. In 2021, the first six months have increased to show wagering totals of $6.2 trillion.

June 2021 vs. June 2020
Indicator June 2021 June 2020 % Change
Wagering on U.S. Races* $993,147,243 $998,331,984 -0.52%
U.S. Purses $103,624,634 $69,469,595 +49.17%
U.S. Race Days 437 300 +45.67%
U.S. Races 3,413 2,485 +37.34%
U.S. Starts 23,870 20,146 +18.49%
Average Field Size 6.99 8.11 -13.73%
Average Wagering Per Race Day $2,272,648 $3,327,773 -31.71%
Average Purses Per Race Day $237,127 $231,565 +2.40%
2nd QTR 2021 vs. 2nd QTR 2020
Indicator 2nd QTR 2021 2nd QTR 2020 % Change
Wagering on U.S. Races* $3,511,798,209 $2,545,997,500 +37.93%
U.S. Purses $299,952,725 $118,940,997 +152.19%
U.S. Race Days 1,115 508 +119.49%
U.S. Races 9,090 4,290 +111.89%
U.S. Starts 65,092 36,101 +80.31%
Average Field Size 7.16 8.42 -14.91%
Average Wagering Per Race Day $3,149,595 $5,011,806 -37.16%
Average Purses Per Race Day $269,016 $234,136 +14.90%
YTD 2021 vs. YTD 2020
Indicator YTD 2021 YTD 2020 % Change
Wagering on U.S. Races* $6,277,894,486 $5,054,526,907 +24.20%
U.S. Purses $514,950,882 $324,168,648 +58.85%
U.S. Race Days 1,881 1,301 +44.58%
U.S. Races 15,792 10,906 +44.80%
U.S. Starts 117,303 88,074 +33.19%
Average Field Size 7.43 8.08 -8.02%
Average Wagering Per Race Day $3,337,530 $3,885,109 -14.09%
Average Purses Per Race Day $273,764 $249,169 +9.87%

 

2019 Comparisons:

June 2021 vs. June 2019
Indicator June 2021 June 2019 % Change
Wagering on U.S. Races* $993,147,243 $990,923,384 +0.22%
U.S. Purses $103,624,634 $115,194,834 -10.04%
U.S. Race Days 437 499 -12.42%
U.S. Races 3,413 3,905 -12.60%
U.S. Starts 23,870 27,726 -13.91%
Average Field Size 6.99 7.10 -1.50%
Average Wagering Per Race Day $2,272,648 $1,985,818 +14.44%
Average Purses Per Race Day $237,127 $230,851 +2.72%
2nd QTR 2021 vs. 2nd QTR 2019
Indicator 2nd QTR 2021 2nd QTR 2019 % Change
Wagering on U.S. Races* $3,511,798,209 $3,137,805,499 +11.92%
U.S. Purses $299,952,725 $316,882,492 -5.34%
U.S. Race Days 1,115 1,260 -11.51%
U.S. Races 9,090 10,167 -10.59%
U.S. Starts 65,092 73,409 -11.33%
Average Field Size 7.16 7.22 -0.82%
Average Wagering Per Race Day $3,149,595 $2,490,322 +26.47%
Average Purses Per Race Day $269,016 $251,494 +6.97%
YTD 2021 vs. YTD 2019
Indicator YTD 2021 YTD 2019 % Change
Wagering on U.S. Races* $6,277,894,486 $5,672,774,271 +10.67%
U.S. Purses $514,950,882 $544,002,132 -5.34%
U.S. Race Days 1,881 2,104 -10.60%
U.S. Races 15,792 17,457 -9.54%
U.S. Starts 117,303 130,239 -9.93%
Average Field Size 7.43 7.46 -0.44%
Average Wagering Per Race Day $3,337,530 $2,696,185 +23.79%
Average Purses Per Race Day $273,764 $258,556 +5.88%

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

 

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Economic Indicators: Derby Return To May Helps Boost Total Wagering Dollars

Equibase, LLC released its fourth monthly report of 2021 on Economic Indicators in Thoroughbred Racing on Friday, June 4. 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 pandemic-instigated racing shut down across much of North America in May of 2020, as well as the rescheduling of the Kentucky Derby, it's no surprise to see the massive 55.84 percent increase in wagering from May of 2020 to May of 2021. The increase in racing is evidenced by the 206 percent increase in races held across the same period.

Average daily wagering, however, was down 51.84 percent from May of 2020 to May of 2021, perhaps indicative of the other options for wagering dollars available as pandemic restrictions continue to decrease across the country.

The more representative year-to-date numbers, from the first five months of 2019 to the first five months of 2021, show total wagering up 12.88 percent while average daily wagering is up 25.55 percent.

May 2021 vs. May 2020
Indicator May 2021 May 2020 % Change
Wagering on U.S. Races* $1,415,509,171 $908,333,874 +55.84%
U.S. Purses $106,723,865 $31,971,002 +233.81%
U.S. Race Days 398 123 +223.58%
U.S. Races 3,249 1,059 +206.80%
U.S. Starts 23,161 9,145 +153.26%
Average Field Size 7.13 8.64 -17.45%
Average Wagering Per Race Day $3,556,556 $7,384,828 -51.84%
Average Purses Per Race Day $268,150 $259,927 +3.16%

YTD 2021 vs. YTD 2020
Indicator YTD 2021 YTD 2020 % Change
Wagering on U.S. Races* $5,284,716,622 $4,056,194,923 +30.29%
U.S. Purses $411,282,722 $254,699,053 +61.48%
U.S. Race Days 1,443 1,001 +44.16%
U.S. Races 12,376 8,421 +46.97%
U.S. Starts 93,411 67,928 +37.51%
Average Field Size 7.55 8.07 -6.43%
Average Wagering Per Race Day $3,662,312 $4,052,143 -9.62%
Average Purses Per Race Day $285,019 $254,445 +12.02%

2019 Comparisons:

May 2021 vs. May 2019
Indicator May 2021 May 2019 % Change
Wagering on U.S. Races* $1,415,509,171 $1,300,923,869 +8.81%
U.S. Purses $106,723,865 $115,776,828 -7.82%
U.S. Race Days 398 450 -11.56%
U.S. Races 3,249 3,650 -10.99%
U.S. Starts 23,161 25,955 -10.76%
Average Field Size 7.13 7.11 +0.25%
Average Wagering Per Race Day $3,556,556 $2,890,942 +23.02%
Average Purses Per Race Day $268,150 $257,282 +4.22%

YTD 2021 vs. YTD 2019
Indicator YTD 2021 YTD 2019 % Change
Wagering on U.S. Races* $5,284,716,622 $4,681,850,887 +12.88%
U.S. Purses $411,282,722 $428,807,298 -4.09%
U.S. Race Days 1,443 1,605 -10.09%
U.S. Races 12,376 13,552 -8.68%
U.S. Starts 93,411 102,513 -8.88%
Average Field Size 7.55 7.56 -0.22%
Average Wagering Per Race Day $3,662,312 $2,917,041 +25.55%
Average Purses Per Race Day $285,019 $267,170 +6.68%

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

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Economic Indicators: April Oaks Card Provides Major Wagering Boost

Equibase, LLC released its fourth monthly report of 2021 on Economic Indicators in Thoroughbred Racing on Wednesday, May 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.

The April 30 Kentucky Oaks card provided a big boost to total wagering in the month of April, especially when compared to the same period in 2020, when the pandemic first took hold and tracks across the country were shutting down. Compared to 2019, however, when the Oaks was held in May, total wagering showed an increase of over 30 percent, while average daily wagering was up over 45 percent.

The more representative year-to-date numbers, from the first four months of 2019 to the first four months of 2021, still show total wagering up 14.44 percent while average daily wagering is up over 25 percent. With the return of the Kentucky Derby to the first Saturday in May, rather than Sept. 5, next month's wagering numbers should also show significant increases over the same dates in 2020.

April 2021 vs. April 2020
Indicator April 2021 April 2020 % Change
Wagering on U.S. Races* $1,103,109,455 $639,331,643 +72.54%
U.S. Purses $89,560,290 $17,500,400 +411.76%
U.S. Race Days 279 85 +228.24%
U.S. Races 2,425 746 +225.07%
U.S. Starts 18,039 6,810 +164.89%
Average Field Size 7.44 9.13 -18.51%
Average Wagering Per Race Day $3,953,797 $7,521,549 -47.43%
Average Purses Per Race Day $321,005 $205,887 +55.91%

YTD 2021 vs. YTD 2020
Indicator YTD 2021 YTD 2020 % Change
Wagering on U.S. Races* $3,869,205,732 $3,147,861,049 +22.92%
U.S. Purses $304,560,597 $222,728,051 +36.74%
U.S. Race Days 1,045 878 +19.02%
U.S. Races 9,127 7,362 +23.97%
U.S. Starts 70,250 58,783 +19.51%
Average Field Size 7.70 7.98 -3.60%
Average Wagering Per Race Day $3,702,589 $3,585,263 +3.27%
Average Purses Per Race Day $291,446 $253,677 +14.89%

2019 Comparisons:

April 2021 vs. April 2019
Indicator April 2021 April 2019 % Change
Wagering on U.S. Races $1,103,109,455 $845,958,246 +30.40%
U.S. Purses $89,560,290 $85,910,830 +4.25%
U.S. Race Days 279 311 -10.29%
U.S. Races 2,425 2,612 -7.16%
U.S. Starts 18,039 19,728 -8.56%
Average Field Size 7.44 7.55 -1.51%
Average Wagering Per Race Day $3,953,797 $2,720,123 +45.35%
Average Purses Per Race Day $321,005 $276,241 +16.20%

YTD 2021 vs. YTD 2019
Indicator YTD 2021 YTD 2019 % Change
Wagering on U.S. Races* $3,869,205,732 $3,380,927,018 +14.44%
U.S. Purses $304,560,597 $313,030,470 -2.71%
U.S. Race Days 1,045 1,155 -9.52%
U.S. Races 9,127 9,902 -7.83%
U.S. Starts 70,250 76,558 -8.24%
Average Field Size 7.70 7.73 -0.45%
Average Wagering Per Race Day $3,702,589 $2,927,210 +26.49%
Average Purses Per Race Day $291,446 $271,022 +7.54%

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

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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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