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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Equibase Analysis: Going Global Looks Tough To Beat In Honeymoon Stakes

This Saturday's Grade 3, $100,000 Honeymoon Stakes at Santa Anita brings together a field of seven fillies led by Going Global, who imported from Ireland to the United States this winter after a win and who has since won three straight races at Santa Anita, all stakes, including the Grade 3 Providencia Stakes last month. Another recent stakes winner is Madone, who won the Grade 3 Senorita Stakes three weeks ago. Golden finished second in the Senorita but was disqualified to sixth for interference in the stretch.

Majestic Steps was fifth in the Senorita and placed fourth after being forced to steady with a half-mile to go. She won in her U.S. debut in January but is winless in four races since then. Quattroelle finished fifth in the Providencia but won the Blue Norther Stakes last December. Pizzazz just won the California Oaks Stakes on all-weather at Golden Gate and finished third behind Madone in the Surfer Girl Stakes last fall. Last but not least is Midnight Diva, who earned her first career win in her fifth career start last month and did so at the distance of the Honeymoon Stakes.

Going Global beat 13 horses in a handicap race last November in her native Ireland, although still a maiden, before taking three months off to acclimate to her new surroundings in the United States. Debuting in mid-February, Going Global won the Sweet Life Stakes, a sprint, earning a career-best 99 ™ Equibase® Speed Figure in the process. Stretching out to two-turns, Going Global won both the China Doll Stakes and Providencia Stakes, the latter effort tying the 99 figure earned two months earlier. Jockey Flavien Prat has been aboard for all three local starts to date and rides back in the Honeymoon Stakes so it appears Going Global will be tough to keep from winning her fifth race in a row.

Golden showed a lot of ability in January in only the second start of her career when rallying strongly from sixth to win going away. Following a poor fifth place effort in March, Golden lagged far back in the early stages of the Senorita Stakes last month and was full of run on the turn when going from 10th to 5th with an eighth of a mile to go. At that point the filly shifted out and found a seam, rallying to get second at the finish line one length from winner Madone. However, the stewards ruled she had interfered with another horse and so she was disqualified and placed sixth. With a jockey change to Umberto Rispoli and a career-best 87 ™ figure to improve upon from the Senorita, Golden has an upset chance in the Honeymoon Stakes.

Madone won the first three starts of her career in the summer and fall of last year. Two of those wins came in stakes races including the Surfer Girl Stakes at Santa Anita. In the Surfer Girl Madone earned a strong 93 figure. After trying some of the top two year old fillies on turf and finishing eighth of 14 in the Breeders' Cup Juvenile Fillies Turf in November, Madone was given time off to mature. Returning to the races three weeks ago as if she had never been away for six months, Madone won the Senorita Stakes even after stumbling at the start to be away last of 10. In the Senorita Madone earned an 89 figure. Jockey Juan Hernandez, who is the second leading jockey (behind Flavien Prat) at the Santa Anita meeting, rode Madone for the first time in the Senorita. He rides again in the Honeymoon so we can expect another big effort, potentially good enough to win, particularly if the filly logically improves in her second start following the long layoff.

The rest of the field, with their best ™ Equibase Speed Figures, is Majestic Steps (92), Midnight Diva (91), Pizzazz (89) and Quattroelle (93).

Win Contenders:
Going Global
Golden
Madone

Honeymoon Stakes – Grade 3
Race 7 at Santa Anita
Saturday, May 22 – Post Time 7 PM E.T.
One Mile and One Eighth on Turf
Fillies, Three Years Old
Purse: $100,000

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Equibase Analysis: Comebacking Gufo Well-Spotted In Man O’ War

Saturday's Grade 1, $700,000 Man o' War Stakes at Belmont Park drew a field of eight top level marathon turf runners with seven having proven competitive at this level in races around North America. Then there's Sovereign, making his North American debut and returning to the races after last racing in November. Sovereign has earned $1.14 million in his career, top in this field, the bulk of that when winning the Group 1 Irish Derby in the summer of 2019.

Next in terms of earnings is Channel Cat, who won the Grade 2 Bowling Green Stakes in the summer of 2019 as well and who finished second in the Grade 2 Elkhorn Stakes in his most recent race. Another horse which earned a big win in 2019 but not since is Ziyad, who was victorious in the Group 1 Grand Prix de Deauville in August of that year. He makes his third start in the U.S. since importing last fall and has two third place efforts since then. Gufo won the Grade 1 Belmont Derby over this course last fall and just missed in the Grade 1 Hollywood Derby before taking time off, returning for his 2021 debut in this race.

Moon Over Miami won the Dueling Grounds Derby last summer, a race which doesn't yet carry a graded designation but with a seven-hundred thousand dollar purse similar to that of the Man o' War. Field Pass won the Grade 3 Ontario Derby and the Grade 3 Transylvania Stakes last year and makes his second start of 2021 following a fourth place effort in the Grade 1 Maker's Mark Mile. Shamrocket has two wins in 13 career races, none in a stakes race although he was third in the Dueling Grounds Derby last summer. So High rounds out the field and is running in a stakes race for the first time while still eligible for allowance races.

Gufo returns to racing following five months off but that is of no concern when coming back in a marathon on turf like the Man o' War Stakes. Gufo won the second through fifth starts of his career starting in December, 2019, through July of last year when taking the Kent Stakes, then just missed by a head in the $500,000 Saratoga Derby Invitational in August. Next, in his first and only start on the Belmont turf, Gufo won the Belmont Derby in October with a 104 ™ Equibase® Speed Figure which was very strong for a 3-year-old.

In his final race of the year, Gufo was exceptionally game when rallying from last of 11 to be in a three horse photo on the wire, losing by a head and a neck with a 107 figure. The horses which beat him that day, Domestic Spending and Smooth Like Strait, are near the top of the turf division in North America having just finished first (in a dead heat) and third last weekend in the Old Forester Bourbon Turf Classic Stakes. Now a more physically mature 4-year-old, Gufo should run even better than he did last year and that makes him the one to beat in this year's Man o' War Stakes.

Field Pass is also a 4-year-old and has a similar pattern to Gufo which suggests he could run a big race in this situation. Last summer, Field Pass proved his stakes quality when winning the Audubon Stakes and Transylvania Stakes in succession. In October, Field Pass earned a career-best figures of 109 when third in the Twilight Derby, won by Smooth Like Strait (who finished third in the Turf Classic last weekend). After winning the Ontario Derby on all-weather in November with a new career-best 110 figure, Field Pass finished fourth in the Mathis Brothers Mile Stakes (won by Smooth like Strait) before resting to begin his 2021 campaign.

In his comeback race last month, Field Pass was not disgraced when finishing fourth of nine in the Maker's Mark Mile and appears very well spotted to improve considerably in his second start of the year to be a factor in this race. Although he's never run this far, as a son of Lemon Drop Kid he should have no problem successfully running the distance because a STATS Race Lens query reveals the sire has produced four top graded stakes winners at similar distances.

Sovereign has been working steadily in Florida and New York for his U. S. debut. He is now in the barn of top trainer Chad Brown, who has a very strong knack with having his horses coming back from layoffs and making their U.S. debuts in top shape. A STATS Race Lens query reveals over the last five years, Brown has won with six of 22 (27%) similar starters in graded stakes. Sovereign earned the biggest win of his career when winning the Irish Derby in 2019 easily by six lengths. Since then, Sovereign has finished second or third in five races. One of those was when second to the incomparable mare Enable in the King George VI and Queen Elizabeth Stakes last summer at Ascot, an effort which earned a 117 figure good enough to win the Man o' War if repeated.

Honorable mention has to go to Ziyad, who earned a 111 figure last October in his U.S. debut when third and beaten just two lengths in the Sycamore Stakes. Similarly, Channel Cat earned a 115 figure last month when second in the mile and one-half Elkhorn Stakes. As such I wouldn't argue with anyone who considered them contenders to win this race.

Also, Moon over Miami earned a decent 109 figure when second in the Pan American Stakes at a mile and one-half at the end of March and may fit as a contender as well. I don't feel the same way about Shamrocket, who although earning a 109 figure at the end of March did so at a mile and one-eighth and in a non-graded stakes so appears a bit overmatched. So High is definitely overmatched in this field as his best effort earned an 89 figure and he is still eligible for the first allowance condition as well as was running in a claiming level race as recently as December.

Win Contenders:
Gufo
Field Pass
Sovereign (IRE)

Man o' War Stakes – Grade 1
Race 10 at Belmont
Saturday, May 8 – Post Time 5:44 PM E.T.
One Mile and Three Eighths on Turf
Four Year Olds and Upward
Purse: $700,000

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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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