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Economic Indicators: Average Daily Handle Stays Strong In August

Equibase, LLC released its monthly report on Economic Indicators in Thoroughbred Racing this Friday, Sept. 4. Due to the COVID-19 outbreak, Equibase is currently providing monthly reporting of its 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.

Wagering on U.S. races dropped a bit in August 2020 compared to the same month in 2019, down 1.92 percent, but average daily handle continues to show year-over-year increases as the pandemic continues to wreak havoc on sports schedules. In August, average daily handle was up 13.50 percent in 2020 over the same period in 2019.

Year-to-date numbers show a similar trend, with average daily handle up 35.75 percent for the first eight months of 2020.

Since the Kentucky Derby has not yet been held, it will be interesting to see how much recovery the figure for year-to-date total wagering will make after this Saturday's Run for the Roses, even without fans in attendance. Currently, total annual wagering is down just 6.20 percent, which is already an improvement over last month's 6.96 percent difference.

August 2020 vs. August 2019
Indicator	August 2020	August 2019	% Change
Wagering on U.S. Races*	$1,154,522,663	$1,177,165,980	-1.92%
U.S. Purses	$104,515,752	$128,293,370	-18.53%
U.S. Race Days	445	515	-13.59%
U.S. Races	3,607	4,026	-10.41%
U.S. Starts	26,964	28,895	-6.68%
Average Field Size	7.48	7.18	+4.16%
Average Wagering Per Race Day	$2,594,433	$2,285,759	+13.50%
Average Purses Per Race Day	$234,867	$249,113	-5.72%

YTD 2020 vs. YTD 2019
Indicator	YTD 2020	YTD 2019	% Change
Wagering on U.S. Races*	$7,308,988,910	$7,792,183,885	-6.20%
U.S. Purses	$518,901,054	$775,638,076	-33.10%
U.S. Race Days	2,144	3,103	-30.91%
U.S. Races	17,793	25,225	-29.46%
U.S. Starts	140,022	185,746	-24.62%
Average Field Size	7.87	7.36	+6.87%
Average Wagering Per Race Day	$3,409,043	$2,511,178	+35.75%
Average Purses Per Race Day	$242,025	$249,964	-3.18%

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

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Lone Star Concludes Thoroughbred Meet With Record Increase In Average Daily Handle

Lone Star Park concluded its 24th Thoroughbred Racing Season on Wednesday, August 12 with a record $2.1 Million in average daily handle from off track sources. The previous high mark was in 2002 when the average was just over $2 Million per day. The meet saw a record increase of 131% in average daily all-source handle from 2019.

Overall this season marked the highest amount handled per day since 2004, the same year Lone Star Park hosted the Breeders' Cup, with an average daily all-source handle of just over $2.2 Million.

“With the success of this season behind us, we are eager to keep the momentum going into next year and feel the future is bright for horse racing at Lone Star Park and in Texas,” said Kent Slabotsky, Vice President of Operations.

Total Purses paid increased by $95,000 per day or 34% as part of House Bill 2463 from $166,000 per day up to $261,000 per day. This increase in purses led to an increase in field size by over 20%.

Highlights of the season included witnessing jockey Stewart Elliott, famed rider of Smarty Jones, who just missed the Triple Crown of 2004, winning his career 5,000th race here.

Meet leaders were Hall of Fame trainer Steve Asmussen who won 50 races worth $1,463,385 during the season. As Lone Star Park's all-time leading trainer, this was his 13th season leading title here at the Grand Prairie track.

Jockey Ramon A. Vazquez was the top among the jockeys with 58 wins totaling $1,343,946 in purse money. This was his first ever season riding at Lone Star Park.

Mike Sisk of M and M Racing was top owner of the meet. His stable scored 29 wins worth a total of $587,235 in earnings.

Lone Star Park's 2020 Quarter Horse Season opens Friday, September 4 and runs through Saturday, November 28.

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Grants Pass Downs Reports Significant Handle Increase; Over $2.2 Million Wagered On Summer Meet

Grants Pass Downs, Oregon's premier horse racing track, concluded its second commercial meet on July 8, following a four-week run of Tuesday and Wednesday racing. The summer meet, which began June 16, carded 78 races over nine dates and handled a total of $2,235,303, nearly quadruple the total amount from last year's non-commercial summer meet. The meet saw a dramatic jump in online and off-track betting, with nearly 94 percent of the meet's handle being driven by off-site betting – representing an astounding 859 percent increase from last summer's meet.

The horsemen and horsewomen received $619,511 in purse money on the season at an average of $68,835 per race day and $7,942 per race. Compared to summer 2019, average race day purses saw an increase of $38,863 – up 130 percent. Additionally, the track's field size jumped to an average 7.94 horses per race over last summer's 5.34 horses per race.

“This record-breaking meet shows that racing is alive and well in spite of COVID-19, and our success is a testament to the hard work put in by track staff, operations and facilities teams and the wonderful community of horsemen and women whose efforts made the meet possible,” said Randy Evers, President of Grants Pass Downs. “We are proud to be one of the few live sporting events on television while supporting the local Grants Pass economy.”

Once again, the meet's leading jockey was Kassie Guglielmino with 14 wins in 58 starts. Guglielmino, who also finished the 2019 fall commercial meet as Grants Pass Downs' top jockey, was followed by Taylor E. Smith (11 wins in 50 starts). Jorge Rosales was the meet's leading trainer with 12 wins and ten second place finishes in 37 starts, and Marjorie Avery finished atop the owner rankings with five wins and six second place finishes in 16 starts.

The meet's record handles were achieved despite limited crowd sizes. In response to the pandemic, Grants Pass Downs complied with the Governor's order to limit the number of nonessential people on site at 250 on racing days during the summer meet. It also made significant operational changes to align with guidance from the CDC and Oregon public health officials to ensure the safety of staff, participating horsemen, athletes, and stakeholders. Dates for the upcoming fall race meet will be announced soon.

For questions about meet details, terms, training schedules, or fees and regulations, please visit https://gpdowns.com/.

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Indiana Grand Opens To Record Wagering Totals; Handle Over $9.8 Million On First Four Cards

Indiana Grand Racing & Casino recorded its best wagering week ever in handle to kick off the 18th season of Thoroughbred and Quarter Horse racing. Over the first four days of racing, a total of $9,867,445 was wagered on 35 Thoroughbred and 10 Quarter Horse races.

The previous best week of handle was recorded during Indiana Derby Week in 2019. A total of $8,673,496 was wagered over four days to establish a new record for most handle recorded in one week of racing.

“The reception of our racing program on a national level has been outstanding,” said Eric Halstrom, vice president and general manager of racing at Indiana Grand. “The entire team has worked through some very difficult times to ensure operations are meeting all requirements set by the state due to Covid-19 protocols. It's really rewarding to all of us to have racing fans be so invested in our racing product. It sure sets the tone for our entire season and we are working hard to keep that momentum going.”

One of the new facets of the racing program that has been popular this season is a new lower takeout on the Pick 5. Held on the last five Thoroughbred races daily, the wager provides a reduced takeout of 11.99 percent, one of the lowest in the country. Pools for the wager are averaging over 71,000 and payouts for the 50-cent minimum wager are averaging more than $3,100.

“We are trying to find ways to cater to our racing fans and providing a lower takeout on the Pick 5 is a great way to engage horseplayers,” added Halstrom. “We will continue to find ways to captivate our racing audience in all sorts of ways, both on track and through simulcasting.”

Live racing continues through Wednesday, Nov. 18 with action held Monday through Thursday beginning at 2:20 p.m. Four Saturday programs are slated for all-Quarter Horse days set for July 4, Aug. 8, Oct. 23 and Oct. 24.

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