Tag: economic indicators

Wagering, Purses Up Significantly in Q1 2021

According to statistics released Monday by Equibase, daily average wagering and average purses per race day each saw significant increases in the period from Jan. 31-Mar. 31, 2021 when compared to the same time frame in 2020.

Total wagering in the three-month period was reported at $2.776 billion, an increase of 10.27% over last year, with daily average wagering at $3,611,092, which represented a 14.15% improvement from 12 months ago. Nearly $215 million in purses were disbursed from January through March, some 4.6% better than last year, with several tracks offering multiple purse increases during their meets. Average purses per race day for the first quarter was $280,677, up 8.45% from 2020.

While the number of live racing days (766) was down 3.4% this year versus last, the number of races staged (6,702) and number of starts (52,211) were fractionally higher. The corresponding figures for the month of March alone showed even more dramatic increases, as the impacts of the coronavirus on racing began to increase in March 2020. A total of 292 U.S. race days took place (+36.45%) encompassing 2,563 races (+43.42%) and 19,452 starts (+39.75). Average field size of 7.59 was off 2.56% from March 2020, while average wagering per race day over just over $3.3 million represented a 3.25% decline over 2020. Average daily purse money in March was $280,129, an improvement of 7.48% from last year.

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Winter Weather Cancellations Have February Wagering Numbers Down Over Six Percent

Equibase, LLC released its second monthly report of 2021 on Economic Indicators in Thoroughbred Racing on Thursday, March 4. Due to the COVID-19 outbreak, 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.

A group of winter storm caused racing cancellations across much of the United States in February, most notably for two weeks at Oaklawn Park in Hot Springs, Ark, but extending to tracks from Texas up through the Northeast.

Therefore, the number of race days held in February of 2021 dropped by 26 percent compared to the same month in 2020, while the total number of races held dropped 22 percent.

Overall wagering decreased by 6.79 percent in February of 2021, though average daily wagering remained strong with a 25.98 percent increase over the same period. Year-to-date, overall wagering remained slightly higher than during the first two months of 2020, up by 1.30 percent.

Purses showed a similar change, with the total amount of purses paid out down 19.70 percent, but the average dollar amount of purses paid out per race day up 8.53 percent.

 

February 2021 vs. February 2020
Indicator February 2021 February 2020 % Change
Wagering on U.S. Races* $840,059,258 $901,272,610 -6.79%
U.S. Purses $62,100,791 $77,336,485 -19.70%
U.S. Race Days 219 296 -26.01%
U.S. Races 1,928 2,477 -22.16%
U.S. Starts 14,880 19,362 -23.15%
Average Field Size 7.72 7.82 -1.26%
Average Wagering Per Race Day $3,835,887 $3,044,840 +25.98%
Average Purses Per Race Day $283,565 $261,272 +8.53%

YTD 2021 vs. YTD 2020
Indicator YTD 2021 YTD 2020 % Change
Wagering on U.S. Races* $1,799,973,370 $1,776,919,630 +1.30%
U.S. Purses $133,200,888 $149,453,215 -10.87%
U.S. Race Days 474 579 -18.13%
U.S. Races 4,139 4,829 -14.29%
U.S. Starts 32,759 38,054 -13.91%
Average Field Size 7.91 7.88 +0.44%
Average Wagering Per Race Day $3,797,412 $3,068,946 +23.74%
Average Purses Per Race Day $281,015 $258,123 +8.87%

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

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Economic Indicators: Promising Start To 2021 As Total Wagering Increases Nearly 10 Percent

Equibase, LLC released its first monthly report of 2021 on Economic Indicators in Thoroughbred Racing on Thursday, Feb. 4. Due to the COVID-19 outbreak, 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.

 

Total wagering on U.S. races was up 9.57 percent in the first month of 2021, despite the ongoing difficulties caused by the pandemic, including continued declines in total race days and purses. On another positive note, the decreases in race days and purses actually led to an increase in the average purses per race day, by 9.42 percent.

Of course, the 9.89 percent decline in race days and corresponding 5.99 percent decrease in races run also led to a slight increase in field size, 1.75 percent.

January 2021 vs. January 2020
Indicator January 2021 January 2020 % Change
Wagering on U.S. Races* $959,602,269 $875,765,850 +9.57%
U.S. Purses $71,102,287 $72,116,730 -1.41%
U.S. Race Days 255 283 -9.89%
U.S. Races 2,211 2,352 -5.99%
U.S. Starts 17,879 18,692 -4.35%
Average Field Size 8.09 7.95 +1.75%
Average Wagering Per Race Day $3,763,146 $3,094,579 +21.60%
Average Purses Per Race Day $278,832 $254,829 +9.42%

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

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USTA Releases Year End Economic Indicators For Harness Racing

The U.S. Trotting Association released the following information this week regarding harness racing's economic indicators:

With the suspension of racing for about three months during 2020 due to the COVID-19 pandemic, total wagering at all U.S. harness tracks for the year was down by 18.39 percent from $1,424,886,558 in 2019 to $1,162,848,201, a decrease of $263,038,357.

In addition, the amount of purses distributed was down significantly by 30.82 percent. In 2020, horsemen earned a total of $304,059,115 a decrease of $135,486,904 from the $439,546,019 in 2019 purses.

The 2,358 race days in 2020 was 1,066 less than the 3,424 race days in 2019, a 31.13 percent decrease.

Despite all of the lost race days, the per race wagering average increased by 10.5 percent from $5,008 in 2019 to $5,534 in 2020.

To better understand the negative impact that the COVID-19 pandemic and the lengthy suspension of racing during 2020 had on the numbers, the economic indicators are broken down into three categories.

1. The year-to-year economic indicators for 2020 compared to 2019.

2. The “Before COVID” economic indicators before the shutdowns caused by the pandemic comparing Jan. 1 to March 22, 2020 to the same timeframe in 2019.

3. The “After COVID” economic indicators after tracks resumed racing following the shutdowns comparing June 1 to Dec. 31, 2020 to the same timeframe in 2019.

Following are the comparative economic indicators for U.S. harness racing from 2019 to 2020.

ECONOMIC INDICATORS ON U.S. RACES

YEAR-TO-YEAR COMPARISON

Jan. 1 – Dec. 31, 2020

2020 2019 % Change
Total Wagered $1,162,848,201 $1,424,886,558 -18.39%
Per Race avg. $45,140 $39,991 +12.87%
Per Betting Interest $5,534 $5,008 +10.50%
Purses $304,059,115 $439,546,019 -30.82%
Race Days 2,358 3,424 -31.13%

 

BEFORE COVID

Jan. 1 – March 22, 2020

2020 2019 % Change
Total Wagered $299,074,258 $315,189,172 -5.11%
Per Race avg. $52,756 $56,976 -7.41%
Per Betting Interest $6,594 $6,975 -5.46%
Purses $53,949,205 $52,804,155 +2.17%
Race Days 474 455 +4.18%

 

AFTER COVID

June 1 – Dec. 31, 2020

2020 2019 % Change
Total Wagered $844,385,389 $796,464,289 +6.02%
Per Race avg. $42,414 $35,097 +20.85%
Per Betting Interest $5,173 $4,414 +17.20%
Purses $248,668,418 $306,707,985 -18.92%
Race Days 1,866 2,339 -20.22%

 

“Obviously it was a very difficult year for everyone in harness racing, especially for our horsemen, racetracks and everyone whose employment depends on our industry,” said USTA Executive Vice President and CEO Mike Tanner. “All of them should be commended for their efforts and compliance with the required health and safety measures that allowed us to return to racing. And we'd like to thank all of our loyal harness racing fans for their continued support through tough times.”

Please note:  The information above includes U.S. and Canadian common and separate pool wagers on races contested in the U.S.

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