All About Handle: January betting falls 2% despite rise in dates

U.S. Thoroughbred racing conducted four more days of racing in January 2022 than January 2021, but the extra four days could not make up for a 4.1 percent drop in field size as total handle at 18 tracks declined 2.1 percent to $927,314,640.

Gulfstream Park also contributed to the declines, as the South Florida oval conducted one fewer day and 23 fewer races when generating $43,306,585 less handle in January 2022 than January 2021. That was a drop of 16.0 percent with a market share of 26.8 percent this year vs. 31.0 percent last year. That means about $4.28 of every $100 wagered in January were wagered somewhere other than Gulfstream vs. last year. Handle per race declined 7.2 percent to $1,031,750.

Is Gulfstream’s new synthetic surface to blame? Possibly, as the track nearly conducted more races on Tapeta (108) alone than dirt (83) and turf (30) combined. Gulfstream conducted 115 dirt and 129 turf races in January 2021.

The biggest winner of January was Oaklawn Park, which more than doubled its days and races, and the market responded enthusiastically with a 157.43 percent increase in handle. In raw dollars ($50,887,918) the next closest tracks were Golden Gate Fields ($19,748,499, up 95.5 percent), Turf Paradise ($10,958,421, up 41.6 percent), and Sunland ($8,365,997, which didn’t race last year). Interestingly, all four of the biggest gainers were west of the Mississippi River.

Santa Anita lost the most of its horse population, as field size in Arcadia dropped 12.1 percent in January. However, the track did manage to stay about even handle-wise, declining just 0.2 percent to $126,066,287.