Wagering in the United States fell almost 4.6% in the third quarter of 2024, capped by nearly an 11% drop in September, according to figures released Oct. 4 by Equibase.
Wagering in the third quarter was about $2.92 billion, down from $3.05 billion the year before. Close to $783.9 million was bet in September, compared to nearly $880.4 million last year.
Calendar changes likely impacted betting last month. September began on a Friday last year, compared to a Sunday in 2024. Due to this shift, Saratoga Race Course, which is quite popular with gamblers, raced more dates in September 2023.
Overall race days and races were up last month compared to a year ago, but respectively dropped by 1.5% and 1.9% for the quarter.
The negative September handle figures come despite record-breaking wagering at the lucrative meet at Kentucky Downs, which ran five of its seven days of racing last month after racing during two afternoons in August. It ran six of its seven dates in September of 2023.
Some notable tracks were impacted by rainy weather in late September, which forced some races off the grass and led to scratches. Churchill Downs did not use its troubled turf course throughout its September meet to allow it time to recover from summer work performed on it.
Paid purses climbed 0.5% to almost $373.7 million in the third quarter, including a 2.3% rise in September to $131 million.
Purses in many states across the country are bolstered by gaming, including Kentucky, where slot-like historical horse racing wagering has been highly profitable.
The average field size was flat during the third quarter of 2024, with 7.19 runners per race compared to 7.18 in 2023.
Handle and race days are both off 2.9% through the first nine months of 2024.
| Thoroughbred Racing Economic Indicators for Third Quarter 2024 (Equibase) |
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| Indicator | 3rd QTR 2024 | 3rd QTR 2023 | % Change |
| Wagering on U.S. Races* | $2,915,088,086 | $3,054,774,686 | -4.57% |
| U.S. Purses (Available) | $390,891,256 | $390,461,479 | 0.11% |
| U.S. Purses (Paid) | $373,656,829 | $371,757,669 | 0.51% |
| U.S. Race Days | 1,189 | 1,207 | -1.49% |
| U.S. Races | 9,270 | 9,450 | -1.90% |
| U.S. Starts | 66,654 | 67,808 | -1.70% |
| Average Field Size | 7.19 | 7.18 | 0.21% |
| Average Wagering Per Race Day | $2,451,714 | $2,530,882 | -3.13% |
| Average Available Purses Per Race Day | $328,756 | $323,497 | 1.63% |
| * Includes worldwide commingled wagering on U.S. races | |||
