Wagering on U.S. races slips in 2022 as purses rise
The latest Equibase report on economic indicators in Thoroughbred racing shows declines in wagering on U.S. races last year and gains in U.S. purses.
Wagering for the year fell 0.87 percent, to $12.11 billion from $12.22 billion. U.S. purses rose 10.92 percent, to $1.31 billion from $1.18 billion.
The National Thoroughbred Racing Association said the report indicates that the industry is healthy.
"Thoroughbred racing purses and pari-mutuel handle continued to exhibit strength in 2022. Purses were up double-digits year-over year and reached an all-time high thanks in part to contributions from other gaming sources,” NTRA president and CEO Tom Rooney said in a news release.
“Pari-mutuel handle was nearly equal to 2021 and the second highest since 2009. These business trends occurred during a year of unprecedented growth in legal, state regulated sports betting," he continued.
"The 2023 gaming landscape promises to be more competitive than ever for the sports wagering dollar. It also represents a huge opportunity to introduce pari-mutuel wagering and the sport of Thoroughbred racing to a vast new audience if we as an industry embrace the challenge.”
| Thoroughbred racing economic indicators | |||
|---|---|---|---|
| YTD 2022 vs. YTD 2021 | |||
| Indicator | YTD 2022 | YTD 2021 | Change |
| Wagering on U.S. races* | $12,108,807,335 | $12,215,598,838 | -0.87% |
| U.S. purses | $1,309,837,841 | $1,180,842,882 | +10.92% |
| U.S. race days | 4,104 | 4,072 | +0.79% |
| U.S. races | 33,453 | 33,565 | -0.33% |
| U.S. starts | 244,133 | 247,405 | -1.32% |
| Average field size | 7.3 | 7.37 | -0.99% |
| Average wagering per race day | $2,950,489 | $2,999,901 | -1.65% |
| Average purses per race day | $319,161 | $289,991 | +10.06% |
| 4Q 2022 vs. 4Q 2021 | |||
| Indicator | 4Q 2022 | 4Q 2021 | Change |
| Wagering on U.S. races* | $2,569,665,204 | $2,720,404,107 | -5.54% |
| U.S. purses | $327,833,091 | $300,288,903 | +9.17% |
| U.S. race days | 881 | 870 | +1.26% |
| U.S. races | 7,442 | 7,339 | +1.40% |
| U.S. starts | 57,174 | 56,789 | +0.68% |
| Average field size | 7.68 | 7.74 | -0.72% |
| Average wagering per race day | $2,916,760 | $3,126,901 | -6.72% |
| Average purses per race day | $372,115 | $345,160 | +7.81% |
| December 2022 vs. December 2021 | |||
| Indicator | December 2022 | December 2021 | Change |
| Wagering on U.S. races* | $748,142,136 | $808,954,882 | -7.52% |
| U.S. purses | $83,068,942 | $83,068,942 | +11.08% |
| U.S. race days | 256 | 251 | +1.99% |
| U.S. races | 2,200 | 2,151 | 2.28% |
| U.S. starts | 17,285 | 17,257 | +0.16% |
| Average field size | 7.86 | 8.02 | -2.07% |
| Average wagering per race day | $2,922,430 | $3,222,928 | -9.32% |
| Average purses per race day | $324,488 | $297,928 | +8.91% |