Equibase, North American racing's official database, has released its May statistics for the industry's economic indicators, including field size, wagering, and other data. Beginning this month, the Economic Indicators will include an additional metric for purse information. Aggregate purse information, which has historically been reported, includes all monies available to be paid out and is now denoted as “Purses (Available).” The additional metric represents the value of the race, which is the actual sum of all earnings paid out, and is denoted as “Purses (Paid).”
Despite record all-sources wagering on the Kentucky Derby race itself, the Kentucky Derby Day program, and Kentucky Derby Week races, May figures for 2023 were down 1.54 percent over the same period in 2022.
The year-to-date handle figures show a decline of 2.81 percent, an improvement over the first four months of 2023 which showed a decline of 3.28 percent. Wagering figures from the first four months of 2023 were as follows: January down 7.19 percent, February down 5.21 percent, March up 2.14 percent, and April down 2. 97 percent.
Field size was one statistic that showed strength in May, improving to 7.47 average starters per race through the first five months of 2023. That's an increase of 1.89 percent over the same time frame from 2022.
Likely factoring into the field size improvement was that race days were down 7.27 percent, number of races run down 6.89 percent, and the total number of starts down by 2.88 percent in May 2023. Overall, that led to average wagering per race day increasing by 6.18 percent in May.
Once again, purses continue to be strong with year-to-date figures up around three percent.
Equibase is continuing to provide monthly reporting of its Economic Indicators Advisories as a service to the industry and in consideration of the economic changes resulting from the COVID-19 pandemic. The Advisory is typically disseminated on a quarterly basis to provide key metrics used to measure racing's performance throughout the year.
| May 2023 vs. May 2022 | |||
| Indicator | May 2023 | May 2022 | % Change |
| Wagering on U.S. Races* | $1,392,723,387 | $1,414,453,489 | -1.54% |
| U.S. Purses (Available) | $121,222,245 | $125,087,666 | -3.09% |
| U.S. Purses (Paid) | $117,076,738 | $120,307,892 | -2.69% |
| U.S. Race Days | 370 | 399 | -7.27% |
| U.S. Races | 3,025 | 3,249 | -6.89% |
| U.S. Starts | 21,648 | 22,289 | -2.88% |
| Average Field Size | 7.16 | 6.86 | +4.32% |
| Average Wagering Per Race Day | $3,764,117 | $3,544,996 | +6.18% |
| Average Available Purses Per Race Day | $327,628 | $301,524 | +8.66% |
| YTD 2023 vs. YTD 2022 | |||
| Indicator | YTD 2023 | YTD 2022 | % Change |
| Wagering on U.S. Races* | $5,139,620,402 | $5,288,282,017 | -2.81% |
| U.S. Purses (Available) | $487,840,585 | $473,340,625 | +3.06% |
| U.S. Purses (Paid) | $469,137,410 | $456,144,554 | +2.85% |
| U.S. Race Days | 1,473 | 1,501 | -1.87% |
| U.S. Races | 12,353 | 12,515 | -1.29% |
| U.S. Starts | 92,284 | 91,756 | +0.58% |
| Average Field Size | 7.47 | 7.33 | +1.89% |
| Average Wagering Per Race Day | $3,489,220 | $3,523,173 | -0.96% |
| Average Available Purses Per Race Day | $331,188 | $303,894 | +8.98% |
* Includes worldwide commingled wagering on U.S. races.
The post Economic Indicators: Despite Record Derby Wagering, All-Sources Handle Declines In May appeared first on Horse Racing News | Paulick Report.
