May Handle and Purses Down From 2019, Up from April

With many tracks closed for all or a portion of May due to the COVID-19 pandemic, handle and purses in the United States for the month were down sharply relative to the same month in 2019.

Data released from Equibase June 4 indicates wagering in May was $908,504,654, a drop of more than 30%, and total U.S. purses fell more than 72% to $31,971,002. The latter was consistent with a 73% decline in race dates and 71% decline in races.

Partially contributing to the drop in betting was the postponement of the Kentucky Derby Presented by Woodford Reserve (G1) at Churchill Downs from May 2 to Sept. 5. That race and the supporting card generates sizable wagering, as does the Longines Kentucky Oaks (G1) program the day before the Derby. The latter race was rescheduled to Sept. 4.

Derby Day on the first Saturday in May is a popular afternoon for racing and simulcasting at tracks across the country, and many were closed this year.

The Preakness Stakes (G1) at Pimlico Race Course also did not take place last month. It was pushed to Oct. 3.

Though economic indicators were poor in May, numbers were favorable compared to April, when even fewer tracks were in operation. Wagering grew 42% and purses spiked by more than 83% as some tracks began racing without spectators.

Churchill Downs, Golden Gate Fields, and Santa Anita Park were among several tracks that resumed racing in the middle of the month, and Lone Star Park and Laurel Park began racing behind closed doors May 22 and May 30, respectively.

Their racing and that from other tracks contributed to 123 U.S. race days and 1,059 races, increases from 45% and 42%, respectively, from April. 

More tracks have resumed racing in June, including Belmont Park, which handled $10,972,254 on its June 4 opening day, breaking a record set 10 years ago. Other facilities are set to open later in the month.

With fewer tracks racing, bettors have supported those in operation, most of which have seen larger fields created by limited racing opportunities. The average field size in May was 8.64, a 21% increase from the same month in 2019.   

This in part led to a 155% spike in wagering per race day among all U.S. tracks last month relative to May 2019. May handle largely came from advance deposit wagering platforms.